Southeast Florida Retail Center Sale Sets Record

InvenTrust Properties Corp. has acquired Southern Palm Crossing which is a 346,200 square foot Costco anchored shopping center in Royal Palm Beach, Florida, for a record-breaking $97 million. Christopher Covey, senior vice president of transactions for the Downers Grove, Ill.-based REIT, said, “These purchases will give the company additional operational economies of scale in the […]

Rubenstein Partners sells connecticut office for $34m

Rubenstein Partners sold 181 Harbour Drive that is a 91,040 square foot Class A office building in Stamford,Conn. A joint venture between the Melohn Group and Drake Street Partners paid $33.5 million for the asset. CBRE represented the seller and procured the buyer.CBRE’s team included Vice Chairman Jeffrey Dunne, Senior Vice President Steven Bardsley and […]

Construction Cost Index in Abu Dhabi down by 0.8% in Q1

The Construction Cost Index, CCI, decreased by 0.8% in the first quarter of 2019 compared with the first quarter of 2018, Statistics Centre – Abu Dhabi, SACD, said in its first quarter CCI report on tower buildings projects. The index decreased from 99.0% in the first quarter of 2018 to 98.1% in the first quarter […]

KGAL targets real assets with newly created private equity arm

KGAL set up a new subsidiary last year to invest in new areas of infrastructure. It has extended its offering by creating a private equity arm to invest in real estate and infrastructure companies. KGAL Equity Partners will focus on real estate companies, large scale real estate portfolios and company investments relating to infrastructure. Gert […]

Cicerone Fund buys $132m Brussels office property

Cicerone Fund which is the property vehicle dedicated to the Italian social security pension fund for lawyers, has invested €131.5m in a Brussels office asset. CBRE Global Investors (GI) and Fabrica SGR, the adviser and asset manager of the Cicerone Fund respectively, have acquired the fully-let 20,600 square metre Mondrian building from Union Investment. CBRE […]

Bellomy & Co. facilitated the sale of Austin-Area Storage

Bellomy & Co. has brokered the sale of 365 Self Storage which is a 77,450 net rentable square foot facility in Round Rock, Texas. Bellomy & Co.’s brokerage team included Principals Bill Bellomy and Michael Johnson. In May, the same team brokered a Houston area storage sale. The company worked on behalf of the seller, […]

Tour of Expo 2020 Dubai site sold out same day

Expo 2020 will be the first World Expo held in the Middle East, Africa and South Asia region. It will welcome an anticipated 25 million visits over the course of 173 days, coinciding with the nation’s Golden Jubilee in 2021. Seats that will get the public to view Expo 2020 Dubai’s construction site for the […]

Dubai’s apartment prices down 15.1pc in Q2

Cavendish Maxwell which is a property consultancy and chartered surveying firm, stated that average sales prices and rents softened across most communities in Dubai in the second quarter. But, compared to last year, the acerage rate of price decline has slowed with apartment prices falling 15.1 percent and villa/townhouse prices down 14.7 percent. Off plan […]

Hard Rock opens first London hotel

The Hard Rock Hotel London which is a conversion of the former Cumberland Hotel. It is located on the corner of Oxford St. at Marble Arch, and near Hyde Park. The hotel has 900 rooms and suites, along with a Rock Royalty Lounge, GMT bar, a Hard Rock Café, a cocktail bar and a Rock […]

Anaheim Cambria to open in August

Cambria Hotel Anaheim Resort Area will open in August 2019. Less than a year after Nexus’ Homewood Suites opened, the company had begun discussions with a property owner about a mile away. Cory Alder, Nexus President, said, “We wanted an additional asset in the marketplace, but we wanted to do a few things differently.” By […]