Valuation: More than $150 million
Jamestown Wins Back 1290 Sixth From EOP
May 9, 2002 Morgan Stanley Dean Witter will still provide a large mortgage to Jamestown, which has increased its original bid to $745.5 million for 1290 Avenue of the Americas in midtown Manhattan, according to sources.Earlier this year, Jamestown had ...
BofA, JPMorgan Arrange $600Mln Facility for Simon
The financing allowed the REIT to complete its purchase of a portfolio of malls from Rodamco. Meanwhile, Rouse Co. also tapped BofA for a six-month loan that allowed it to buy other malls from the Dutch company.
Marvin Davis Nixes Buy of Manhattan’s 450 Lexington
May 8, 2002 The Dutch Shell Pension Fund Foundation is once again shopping for a buyer for 450 Lexington Ave., a 905,000-square-foot office building in midtown Manhattan.According to a report in the New York Post, Eastdil Realty, which last year ...
Rodamco Sale to Simon, Rouse, Westfield Completed
May 7, 2002 Rodamco NA has completed its $5.3 billion sale of assets to Simon Property Group Inc. (NYSE:SPG), the Rouse Co. (NYSE:RSE) and Westfield America (ASX:WFA).Simon said its share of the deal was $1.59 billion. It assumed $579 million ...
Town and Country Ups Fannie Facility to $439Mln
May 7, 2002 BALTIMORE – The Town and Country Trust (NYSE:TCT) said it has increased the size of its Fannie Mae credit facility to $439 million from $382 million.The facility was originated through Prudential Mortgage Capital Co.Town and Country plans ...
BofA Provides $150Mln to Cousins for Atlanta Skyscraper
The financing takes out $65 million of existing debt on Bank of America Plaza, a 1.3 million-sf building owned by Cousins Properties and an affiliate of the bank. The loan carries a rate of just under 7 percent.
CalPERS May Set Up $500Mln Opportunity Pool
The pension fund's real estate staff next week will propose that the fund earmark $500 million of equity for opportunistic real estate investments. With a pool set aside, it would be able to quickly make investments as opportunities arise.
Ashkenazy Forms Fund to Buy Malls, Retail Centers
The investor, who is best known for buying a portfolio of Barneys New York stores, has raised $250 million of equity for a fund that will buy shopping centers. He has teamed with Cameron Group, which was formed by former ...
Bank Pays US$527/sf for Sydney Office Building
May 3, 2002 SYDNEY, Australia – Macquarie Bank Group has bought No.1 Martin Place, a newly built, Class-A office building in downtown Sydney for A$426.25 million (US$230 million), or about A$977/sf (US$527/sf).Macquarie Office Trust and a newly formed syndicate, Macquarie ...
Prologis Teams With Australian Bank for New Property Fund
May 3, 2002 Commercial Real Estate Direct Staff ReportProLogis is teaming with an Australia-based bank to form a North American industrial property fund with an initial capitalization of $177 million.Macquarie Bank (ASX:MBL) has contributed $48.4 million of equity, while New ...
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