Finance Institutional Investment
Crowne Plaza Amsterdam City Centre Sold
May 14, 2008

Acting for an Institutional investor and InterContinental Hotels Group (IHG), Jones Lang LaSalle Hotels Inc. has completed the sale of the Crowne Plaza Amsterdam City Centre, which was sold for $111 million to joint venture HHR Euro CV. The Crowne Plaza Amsterdam City Centre was jointly owned by an institutional investor (83 percent) and IHG (17 percent). HHR Euro CV is a joint venture established in March 2006 between Host Hotels & Resorts, Inc., Stichting Pensioenfonds ABP, the Dutch pension fund for public employees, and an affiliate of GIC Real Estate Pte Ltd (GIC RE), the property investment arm of the Government of Singapore Investment Corp. The joint venture now owns eleven hotels in Spain, Italy, United Kingdom, Poland, Belgium and The Netherlands.

 
Recent Institutional Investment Headlines
Centro Sells Off U.S. Assets for $714M
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Centro Properties, in an effort to deal with the heavy burden of debt that tanked the company’s stock price last year and put the company under new management, is selling 29 of the 31 retail properties held by its Centro America Fund (CAF) in the United States for about $714 million.
Radow, Norman Observers: Healthy Fannie, Freddie Key to Recovery
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The Bush Administration unveiled plans on Sunday to aid Fannie Mae and Freddie Mac, the U.S.’s two largest mortgage finance companies, as concerns continue to mount about these government-sponsored entities.
wimbledon apts JP Morgan Acquires $150M NYC Apartment
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P & H Associates has sold The Wimbledon luxury apartment building in Manhattan to JP Morgan Investment Management in a $150 million deal.
Trikona Inks Deal for M-F Redevelopment in Mumbai
July 09, 2008
As part of its commitment, announced in late 2006, to invest more than $1 billion in slum redevelopment in Mumbai, India, Trikona Capital Ltd. of New York City has signed on for a $40 million middle-class housing project in Bandra, a residential area adjacent to Mumbai’s Central Business District.
ChryslerBuilding Abu Dhabi Fund Acquires Chrysler Building
July 09, 2008
Another iconic New York skyscraper has been snapped up by a Middle Eastern sovereign wealth fund.
 

 

UrbanAmerica Takes Rubicon Portfolio for $515M
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Manhattan Mixed-Use Sold to Local Investor
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By Scott Baltic, Contributing Editor A partnership including Kent Swig of Swig Equities L.L.C. has sold a pair of pre-war apartment buildings on Manhattan's Upper West Side to a locally--based operator of residential and mixed-use properties for $61 million, or...

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By Tonie Auer, Southwest Correspondent -- A sluggish economy coupled with housing market woes nationwide trickled down to the robust Las Vegas housing market, contributing to the filing to reorganize under Chapter 11 bankruptcy for Lake at Las Vegas Joint...

Details Emerge for $90M Canadian Casino
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By Barbra Murray, Contributing Editor -- Plans for a new destination casino in New Brunswick, Canada move closer toward realization as developer Sonco Gaming New Brunswick L.P. divulges details of the mixed-use property. The $90 million project will carry the...

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