Finance Institutional Investment
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008

The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced. The trophy is a 39-story, 770,000 square foot office tower prominently located on Broadway between West 31st and 32nd Streets in Manhattan. After nine years of ownership, SL Green Realty Corp. sold the Class A office tower to Murray Hill Properties for $310 million, or approximately $463 per square foot. Carlton secured a $175 million first mortgage with a major German lender, a REIT provided $40 million of mezzanine financing to complete this financing. The transaction was closed on behalf of Norman Sturner of Murray Hill Properties and a large German opportunistic equity fund.

 
Recent Institutional Investment Headlines
Eaton Vance Funds Grab Two-Building Suburban D.C. Office Complex for $95M
Aug. 08, 2008
A two-building office property occupied by CareFirst BlueCross BlueShield in Owings Mills, Md., has been sold to two owners.
jury inn leeds Dublin Firm Enters Hotel Partnership with Oman Investment Fund
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A little more than a year after purchasing Jurys Inns hotel chain, Dublin-based international private equity real estate group Quinlan Private has sold a 50 percent partnership interest in the hotel chain to Oman Investment Fund, an investment arm of the Sultanate of Oman.
HFF Closes Self-Storage, Office Sales in Texas
Aug. 01, 2008
Holliday Fenoglio Fowler L.P. has closed two substantial deals with Texas roots, it has reported. Its Houston-based self storage group completed the sale of a 21-property self storage portfolio with facilities in Florida, Texas, Colorado, Kentucky and Ohio. And its Dallas office announced that it had finalized the sale of the Pyramids at Park Lane in that city.
ING's New Global Real Estate Fund Kicks Off with $300M Investment
July 31, 2008
London-based ING Real Estate Select has just introduced its Global Osiris Property Fund to the market. Seed investor London Pensions Fund Authority has thrown in approximately $297 million to get Global Osiris off the ground, and other institutional investors seeking to diversify assets through the penetration of international property markets can join in with a minimum investment of about $12 million.
Work Commences on $1.3B Universal Studios Project in Dubai
July 30, 2008
Ground has just broken on Universal Studios Dubailand, a 7 million-square-foot theme park in the sprawling mixed-use Dubailand development in the U.A.E. Tatweer is behind the project, as well as the entire $64 billion, 3 billion-square-foot Dubailand endeavor, which is being designed to be the largest tourism, leisure and entertainment destination in the world.
 

 

Tenet Healthcare Takes 165,000 SF in Downtown Dallas
August 08, 2008
By: Dees Stribling, Contributing Correspondent --Tenet Healthcare Corp., an owner of hospitals and other medical facilities nationwide, is planning to move its headquarters to Downtown Dallas. The company, which only moved to the Dallas area from Southern California in 2004,...

JV Shells Out $40M for LA-Area Business Park
August 08, 2008
By: Thomas Peretti, Contributing Correspondent --The joint venture buyer has agreed to purchase College Business Park in Upland, Calif., just east of Los Angeles. The 314,000-square-foot business park sold for $39.9 million to Koll/PER, a limited liability company owned by...

RockBridge Takes $46M North Carolina Hotel Portfolio
August 08, 2008
By: Judy Feldman, Contributing Correspondent --RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land...

Dublin Firm Enters Hotel Partnership with Oman Investment Fund
August 08, 2008
By: Tonie Auer, Southwest Correspondent --A little more than a year after purchasing Jurys Inns hotel chain, Dublin-based international private equity real estate group Quinlan Private has sold a 50 percent partnership interest in the hotel chain to Oman Investment...

Investcorp Forms $1B Entity to Acquire RE Debt
August 07, 2008
Investcorp Forms $1B Entity to Acquire RE Debt By: Dees Stribling, Contributing Correspondent --Though the acquisition of real estate debt isn't new, current market conditions seem to have given investors new impetus to acquire such debt. Recently, Investcorpýýýýýýýýýs U.S.-based real...

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...