Helmsley Estate Sells Manhattan Hotel
March 9th, 2010The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million.
Leona Helmsley Estate Sells Manhattan Hotel
March 9th, 2010The Helmsley Carlton House on Manhattan’s Upper East Side is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and New York developer Extell Development for about $170 million.
Marriott Expands in Europe
March 9th, 2010Forty thousand more hotel rooms on the Continent would have Marriott brand names in the next few years under the company’s plan.
Pershing Square & Fairholme Capital Offer $3.925B to General Growth
March 8th, 2010General Growth Properties (NYSE:GGP) announced that a joint venture between Pershing Square Capital Management and Fairholme Capital Management said they would commit $3.925 billion of new equity capital, at a value of $15.00 per share, to facilitate…
General Growth Debt Bet Pays Off
March 8th, 2010A handful of investors dug to the bottom of the discount bin and snapped up General Growth’s convertible bonds at three cents on the dollar. They now trade at 103 cents.
General Growth Lines Up More Capital
March 8th, 2010Mall owner General Growth Properties has bolstered its case for exiting from bankruptcy protection as a stand-alone company.
Farkas Closes Deal to Buy Centerline
March 8th, 2010The New York real-estate investor will buy one of the nation’s largest commercial-mortgage-servicing specialists for $100 million in new equity and assuming $180 million of Centerline’s debt.
In The Pipeline: CoStar Development and Construction News for March 7-13
March 8th, 2010In this week’s edition of In The Pipeline, Forest City’s Atlantic Yards mixed-use project is scheduled to finally break ground this week. Meanwhile, another long delayed development project, the Guasti Historic District in Ontario, CA,has begun with…
U.K. REIT Plans IPO
March 8th, 2010Metric Property Investments hopes to raise £150 million in an IPO on the London Stock Exchange’s main market as it seeks to take advantage of the sharp downturn in property values.
UBS Renews, Consolidates in Chicago
March 8th, 2010UBS is extending its stay at One North Wacker Drive in Chicago, also known as the UBS Tower. The Swiss financial services firm has renewed for 400,000 square feet in the office tower, a total of 13 floors.
The 10-year lease, set to commence in 2012…
