Skip navigation
10 Must Reads for the CRE Industry Today (January 20, 2015)

10 Must Reads for the CRE Industry Today (January 20, 2015)


  1. Blackstone Said in a $1.7 Billion Deal to Buy Apartments “Blackstone Group LP (BX), the biggest owner of U.S. single-family houses, agreed to buy 36 apartment properties across the country for about $1.7 billion as it expands its rental business, according to two people with knowledge of the transaction.” (Bloomberg)
  2. Clearer Skies Ahead? “As they embark on a new year, American investors are more confident than at any time before the financial crisis. Paying little heed to the business cycle or distortions from monetary policy, they are supported in their optimistic assessment by the most immediately observable trends.” (Commercial Observer)
  3. Ivanhoe Cambridge Makes Second Largest Single-Office Building Transaction in U.S. “Ivanhoé Cambridge and Callahan Capital Properties have teamed on the acquisition of Three Bryant Park, a 1.2-million-square-foot office property in Midtown Manhattan, for $2.2 billion, from the Blackstone Group.” (Commercial Property Executive)
  4. Brookfield’s First Manhattan West Office Tower Will Cost $2.1 Billion to Develop: Filing “One Manhattan West – the northernmost of a pair of office towers set to rise as part of Brookfield’s 5.4 million-square-foot, mixed-use megaproject on the Far West Side – will cost $2.1 billion to develop, according to an application the real estate investment trust’s filed with the New York City Industrial Development Agency, the financing arm of the New York City Economic Development Corp.” (The Real Deal)
  5. Express Shares Plunge After Sycamore Ends Talks to Buy Chain “The discussions, which have lasted several months, broke down after a struggle to line up financing at acceptable terms, the two companies said today in a statement. Shares of Express, a mall-based chain that targets shoppers in their 20s, fell 15 percent to $12.27 at 9:39 a.m. in New York and earlier declined 16 percent for the biggest intraday drop since December 2013.” (Bloomberg)
  6. Related Sells OneEleven Tower for $328M “The downtown multifamily market continues to set records. Related has just sold OneEleven, its 60-story apartment tower at 111 W. Wacker Dr. to Heitman for over $328 million. At $651,000 per unit, Related officials say it is the highest amount ever paid for a Chicago apartment building.” (GlobeSt.)
  7. Brookdale Buys Two Buckhead Towers, Including Pinnacle, for $201 Million “Atlanta real estate investment firm The Brookdale Group LLC completed its acquisition of The Pinnacle, the 21-story glass office tower whose roof resembles a giant sail, Jan. 15, according to people familiar with the deal. Brookdale also bought the adjacent 14-story Two Live Oak.” (Atlanta Business Chronicle)
  8. Activist Investor to Step Up Push for a Staples-Office Depot Merger “The prominent activist investment firm Starboard Value is still trying to push Staples into buying one of its best-known rivals in the office supplies world. The hedge fund plans to release a public letter urging the company to pursue a takeover of Office Depot, people briefed on the matter said on Tuesday.” (The New York Times)
  9. Kroger Could Buy Fla. Winn-Dixie Stores “The Kroger Co. has chosen its next expansion market, according to a report from WCPO-9, our ABC affiliate in Cincinnati. The name of the town is still unknown, but experts say northern Florida makes the most sense for the Cincinnati-based grocery giant.” (First Coast News)
  10. Coming to a Whole Foods Near You: In-Store Bars and Restaurants “Bashaw says Whole Foods may even seek to experiment with more full-service dining options at some of its stores in the future.” (Crain’s Chicago Business)
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.