The Blackstone Group has agreed to pay $26 billion for Hilton Hotels Corp., the second largest hotel chain in the country.Blackstone will pay $47.50 for each share of Hilton common stock and assume $6 billion of debt. The...

Commercial Real Estate Direct Staff ReportCarlyle Group is positioned to take out considerable mortgage debt to fund its $6.3 billion purchase of Manor Care Inc.Earlier this week, the board of Manor Care accepted Carlyle's takeover offer bid of...

GE Pension Trust has completed its $200 million acquisition of Pacific Center, a 438,960-square-foot office property in Mission Valley, Calif.The pension trust is buying the two-building complex from Maguire Properties, which marketed it through Eastdil Secured.Pacific Center, which...

Stiles Capital Partners has paid $24 million for Southpoint Executive Center, a 137,000-square-foot office building in Maitland, Fla.The Ft. Lauderdale, Fla., real estate firm purchased the property from Younan Properties Inc. of Los Angeles. Younan marketed the building,...

Phillips Edison & Co. has purchased Powell Villa, a 61,908-square-foot retail property in Portland, Ore.A purchase price was not disclosed, but retail properties in Portland are trading for $165/sf, according to data from Real Capital Analytics. That would...

Triple Net Properties has purchased Century Hills, a 200-unit apartment complex in Augusta, Ga. The Santa Ana, Calif., real estate firm purchased the complex on behalf of tenant-in-common investors from Centennial Investment Properties. Centennial, an Atlanta multifamily firm,...

A venture between Sterling American Property Inc. and Westdale Asset Management has paid $156 million for two suburban Los Angeles apartment buildings totaling 924 units.The venture purchased the properties from ScanlanKemperBard Cos. of Portland, Ore.The properties are Waterstone...

Triple Net Properties has purchased Century Hills, a 200-unit apartment complex in Augusta, Ga. The Santa Ana, Calif., real estate firm purchased the complex on behalf of tenant-in-common investors from Centennial Investment Properties. Centennial, an Atlanta multifamily firm,...

A venture between Sterling American Property Inc. and Westdale Asset Management has paid $156 million for two suburban Los Angeles apartment buildings totaling 924 units.The venture purchased the properties from ScanlanKemperBard Cos. of Portland, Ore.The properties are Waterstone...

SL Green Realty Corp. has paid $147.6 million for a 45 percent equity interest in the venture that owns One Madison Ave. in New York City, giving it full ownership of the 1.2 million-square-foot office building.The New York...

A venture led by KBS Realty Advisors has sold 130 Prince St., an 86,000-square-foot mixed-use property in Manhattan's SoHo area, for $112 million.The fully-leased building was sold to an affiliate of Waterman Interests of New York.KBS and partner...

DLJ Real Estate Partners has paid $150.5 million for a portfolio of six hotels with 1,157 rooms from Sunstone Hotel Investors Inc.The six hotels were categorized as non-core by Sunstone, a San Clemente, Calif., REIT. Two of the...

Ventas Inc. has sold 21 skilled-nursing facilities and a long-term acute care hospital to Kindred Healthcare Inc. for $171.5 million.Kindred, a Louisville, Ky., operator of nursing centers, hospitals and institutional pharmacies, had been leasing the properties from Ventas,...

A venture between Stillman Development International and Antonio Development has lined up $104 million of financing for The Centurion, a 48-unit residential property in New York.The venture received the financing from Corus Bank of Chicago.The Centurion will total...

By John Covaleski, Commercial Real Estate Direct Staff Writer A group involving Michael R. Walker, retired chief operating officer of Citibank Commercial Real Estate Group, is looking to raise up to $100 million for value-add investments.The recently-formed group,...

Commercial Real Estate Direct Staff ReportWeingarten Realty Investors has acquired a 97,207-square-foot retail center in suburban Portland, Ore., for $16 million.The Houston REIT bought the property, Oak Grove Market Center in Milwaukie, Ore., from a pension fund represented...

ScanlanKemperBard Cos. has paid $94.7 million for the Giftcenter and Jewelrymart, a 388,234-square-foot retail property in San Francisco. The Portland, Ore., firm purchased the two-building complex from Pacific Union Development, which had owned it since 1976. A separate...

Commercial Real Estate Direct Staff ReportSomerset Partners has acquired 450 Park Ave. in New York City for about $510 million, or $1,589/sf, a record high for U.S. real estate. As reported by the Wall Street Journal, Somerset, the...

DLJ Real Estate Partners has paid $150.5 million for a portfolio of six hotels with 1,157 rooms from Sunstone Hotel Investors Inc.The six hotels were categorized as non-core by Sunstone, a San Clemente, Calif., REIT. Two of the...

A venture led by KBS Realty Advisors has sold 130 Prince St., an 86,000-square-foot mixed-use property in Manhattan's SoHo area, for $112 million.The fully-leased building was sold to an affiliate of Waterman Interests of New York.KBS and partner...

Ventas Inc. has sold 21 skilled-nursing facilities and a long-term acute care hospital to Kindred Healthcare Inc. for $171.5 million.Kindred, a Louisville, Ky., operator of nursing centers, hospitals and institutional pharmacies, had been leasing the properties from Ventas,...

A venture between Stillman Development International and Antonio Development has lined up $104 million of financing for The Centurion, a 48-unit residential property in New York.The venture received the financing from Corus Bank of Chicago.The Centurion will total...

Parkway Properties Inc. has sold two Knoxville, Tenn., office properties with 549,000 square feet for $59 million.The Jackson, Miss., firm did not identify the properties' buyer, but said the sales price amounted to a 7.7 percent capitalization rate,...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterCrown Properties Inc. is offering for sale First Indiana Plaza, a 425,000-square-foot office building in downtown Indianapolis.The New York real estate firm has tapped CB Richard Ellis' Indianapolis office to...

By John Covaleski, Commercial Real Estate Direct Staff Writer A group involving Michael R. Walker, retired chief operating officer of Citibank Commercial Real Estate Group, is looking to raise up to $100 million for value-add investments.The recently-formed group,...