Finance Institutional Investment
ING Real Estate, Grupo Carrousel, Operadore Punta Maroma to Develop $150M Resort in Mexico
May 5, 2008

ING Real Estate will partner with Grupo Carrousel and Operadora Punta Maroma to develop a new $150 million ocean front resort on Bahia Maroma along Mexico's Riviera Maya. The cost doesn't include the price of land. The project will include an 86-villa, luxury hotel from Capella Hotels and Resort. The 254-acre site acquired for the project is located 30 minutes south of the Cancun Airport and 15 miles north of Playa del Carmen, and includes approximately one mile of prime beachfront property. Plans call for the development of 127 residential units, an 18-hole Rees Jones signature golf course, and a 10,000 square foot clubhouse, in addition to the hotel. The facility will be designed and built jointly with Capella Hotels and Resorts.

 
Recent Institutional Investment Headlines
$8.9B Penn Gaming Merger Crumbles
July 03, 2008
After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc., an entity involving funds managed by Fortress Investment Group L.L.C. and Centerbridge Partners L.P. affiliates.
Kennedy Wilson Expands Seattle-Area Apartment Portfolio via $117M Buy
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Kennedy Wilson Multifamily Management Group Ltd., the multi-family investment division of Kennedy Wilson, has acquired two Class B apartment communities in the Seattle area for a total of just over $117 million.
Prince Charles to Launch £1B Property Fund
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Developer Purchases 174 Acres in Growing San Antonio Area
June 26, 2008
Potranco Limited L.P. has purchased 174 acres about 20 miles west of San Antonio from the General Land Office of the state of Texas on behalf of the Permanent School for an undisclosed amount.
RioCan, Trinity to Sell Interests in Two Developments to CPP Investment Board
June 26, 2008
RioCan Real Estate Investment Trust, Trinity Development Group Inc.  and CPP Investment Board have announced that they have entered into a firm agreement for RioCan and Trinity to sell a 50 percent non-managing interest in two developments to CPPIB.
 

 

$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

Lightstone Acquires Interests in 20 Outlet Centers in $456M Deal
July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

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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...

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