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Ruffin Negotiating Sale Of Strip Site For $1.2B
2007-03-23 13:06:00
Billionaire businessman Phil Ruffin says he is close to signing an agreement to sell a few dozen Strip -front acres here that includes the New Frontier Hotel Casino for $1.2 billion. Located across from Steve Wynn’s development, Ruffin acquired the acreage in the late 1990s for less than $200...
More About: Site , Sale , Trip

Another Bidder Steps Forward for Winston Hotels
2007-03-12 11:36:00
RALEIGH, NC-Winston Hotel s , Inc. has received an unsolicited offer from Inland American Real Estate Trust, Inc., topping a previous offer from Wilbur Acquisition Holding Co. The bid was submitted by Inland Capital Markets Group.
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Brookfield To Buy Mills For $7.5 Billion
2007-02-25 00:02:01
Brookfield Asset Management Inc. will buy beleaguered REIT Mills Corp. for about $7.5 billion, including assumed debt. The deal, pending shareholder approval, will close in the second half of 2007, the companies say.
More About: Lion , Bill , Field , Rook , Billion

Chicago Firm Buys Twin Cities Apartments
2007-02-25 00:02:01
Waterton Residential, an affiliate of Waterton Associates L.L.C., a Chicago –based real estate investment firm, has entered the Twin Citi es market with the purchase of Symphony Place in Minneapolis. The 29-story apartment building is on Marquette Avenue near the Nicollet Mall, a pedestrian mall running through part of downtown Minneapolis. Orchestra...
More About: Men , Apartments

Fabege Buys More Offices In Stockholm
2007-02-25 00:02:01
Fabege, the largest Nordic listed property company, added to its office holdings in Stock holm ’s Norrtull area by acquiring the Mimer 5 building for SEK380 million (U.S.$54 million) from Akademiska Hus. Mimer 5 sits adjacent to the only skyscraper in Stockholm.
More About: Office , More , Offices

California Investor Buys Hawaiian Office Complex
2007-02-25 00:02:01
Honolulu’s tight office market posted another eight-digit property sale when a Waikiki office building fetched $30 million.
More About: Office , California , Hawaii , Comp , Investor

Los Angeles Multi-Family Goes For $120M
2007-02-25 00:02:01
Los Angel es-based Kennedy Wilson Multi family Management Group has bought the 687-unit City Heights apartment complex for more than $120 million in an off-market deal. Its joint venture partner in the transaction is Wachovia Development Corp., an affiliate of Wachovia Corp.
More About: Family , Los Angeles , Goes

Illinois TRS To Invest $300 Million In Real Estate
2007-02-25 00:02:01
The board of trustees of the $39 billion Teachers' Retirement System of the State of Illinois (TRS) voted Feb. 16 to invest $300 million in four real estate funds. The system has allocated $100 million to Hines U.S. Core Office Fund and $100 million to Lincoln Property Co. Realty Advisors,...
More About: Estate , Real Estate , Lion , Vest

Property Trust Announces Build To Suit
2007-02-25 00:02:01
Office REIT Mack-Cali (NYSE: CLI) has announced plans to develop a 250,000 sq. ft. office building in Parsippany, N.J. for Wyndham Worldwide Corp. (NYSE: WYN). Wyndham agreed to pre-lease the building for a 15-year term. The hotelier already occupies space at Mack-Cali’s Business Campus in Parsippany. When the three-story granite...
More About: Property , Trust , Build , Rust , Suit

Rodamco Makes First Move Into Russia
2007-02-25 00:02:01
In the largest single-asset transaction to date in Russia , Rodamco Europe N.V. acquired a 50 percent stake for €217 million (U.S.$284 million) in the Metropolis Shopping Centre in Moscow, which currently is under construction, from Capital Partners, the Turkey-based developer of the center.
More About: Move , Make , First

Property Trust Announces Build To Suit
2007-02-24 12:01:01
Office REIT Mack-Cali (NYSE: CLI) has announced plans to develop a 250,000 sq. ft. office building in Parsippany, N.J. for Wyndham Worldwide Corp. (NYSE: WYN). Wyndham agreed to pre-lease the building for a 15-year term. The hotelier already occupies space at Mack-Cali’s Business Campus in Parsippany. When the three-story granite...
More About: Property , Trust , Build , Rust , Suit

Rodamco Makes First Move Into Russia
2007-02-24 12:01:01
In the largest single-asset transaction to date in Russia , Rodamco Europe N.V. acquired a 50 percent stake for €217 million (U.S.$284 million) in the Metropolis Shopping Centre in Moscow, which currently is under construction, from Capital Partners, the Turkey-based developer of the center.
More About: Move , Make , First

Brookfield To Buy Mills For $7.5 Billion
2007-02-24 12:01:01
Brookfield Asset Management Inc. will buy beleaguered REIT Mills Corp. for about $7.5 billion, including assumed debt. The deal, pending shareholder approval, will close in the second half of 2007, the companies say.
More About: Lion , Bill , Field , Rook , Billion

Chicago Firm Buys Twin Cities Apartments
2007-02-24 12:01:01
Waterton Residential, an affiliate of Waterton Associates L.L.C., a Chicago –based real estate investment firm, has entered the Twin Citi es market with the purchase of Symphony Place in Minneapolis. The 29-story apartment building is on Marquette Avenue near the Nicollet Mall, a pedestrian mall running through part of downtown Minneapolis. Orchestra...
More About: Men , Apartments

Winston Hotels To Be Acquired For $430 Million
2007-02-24 12:01:01
Winston Hotel s (NYSE: WXH), a Raleigh, N.C.–based lodging REIT, has agreed to be acquired by Wilbur Acquisition Holding Co., which is held by affiliates of Och–Ziff Real Estate and Norge Churchill, for $14.10 per share in cash or approximately $430 million. Winston's board of directors has approved the merger agreement,...
More About: Lion , Million , Acquire

Fabege Buys More Offices In Stockholm
2007-02-24 12:01:01
Fabege, the largest Nordic listed property company, added to its office holdings in Stock holm ’s Norrtull area by acquiring the Mimer 5 building for SEK380 million (U.S.$54 million) from Akademiska Hus. Mimer 5 sits adjacent to the only skyscraper in Stockholm.
More About: Office , More , Offices

California Investor Buys Hawaiian Office Complex
2007-02-24 12:01:01
Honolulu’s tight office market posted another eight-digit property sale when a Waikiki office building fetched $30 million.
More About: Office , California , Hawaii , Comp , Investor

Los Angeles Multi-Family Goes For $120M
2007-02-24 12:01:01
Los Angel es-based Kennedy Wilson Multi family Management Group has bought the 687-unit City Heights apartment complex for more than $120 million in an off-market deal. Its joint venture partner in the transaction is Wachovia Development Corp., an affiliate of Wachovia Corp.
More About: Family , Los Angeles , Goes

Illinois TRS To Invest $300 Million In Real Estate
2007-02-24 12:01:01
The board of trustees of the $39 billion Teachers' Retirement System of the State of Illinois (TRS) voted Feb. 16 to invest $300 million in four real estate funds. The system has allocated $100 million to Hines U.S. Core Office Fund and $100 million to Lincoln Property Co. Realty Advisors,...
More About: Estate , Real Estate , Lion , Vest

Law Firm Takes 400,000 SF At Prudential Tower
2007-02-24 12:01:01
BOSTON - The Back Bay’s already tight office market will get even tighter in 2010 when Ropes Gray moves into 400,000 sf at the Prudential Tower . The law firm has signed a letter of intent to take the space.“This is further validation of the Back Bay market,” Bill...
More About: Take , Rude