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Exclusive: Triple Five To Acquire Prime Beverly Hills Site

Rendering of the One Beverly Hills project for Wanda Group.
Triple Five Group Ltd., the Canadian developer of the Mall of America, is under contract to buy one of the prime development sites in Beverly Hills, California, from China-based conglomerate Dalian Wanda Group.
The Edmonton-based company, led by the Ghermezian family, has agreed to purchase the site at 9900 Wilshire Blvd. known as One Beverly Hills that’s entitled for a 5-star hotel and…

Foreign Investor Closes On Its Biggest U.S. Industrial Deal to Date

Investcorp has purchased 56 industrial properties in seven U.S. markets for $300 million.

A Bahrain-based global investor with $22 billion in assets closed on its biggest U.S. industrial portfolio yet, giving the firm another 4.5 million square feet spanning 56 properties throughout seven major markets including Chicago and Dallas.

Investcorp, which now owns 14 million square feet of U.S. industrial properties, has been gobbling up industrial…

Sears Holdings Store Closings to Slow in Coming Months

Pictured: Eddie Lampert, CEO of ESL Investments and Sears Holdings Corp.Courtesy: Sears.Sears Holdings said the amount of closings of its Sears and Kmart stores may ease as the national retailer takes other aggressive measures amid what Chief Executive Eddie Lampert calls its “paradigm shift from traditional retailing to a member-centric company.”

The gush of announced store closings is expected to end as sales start to strengthen and t

Pebblebrook to Sell $1.72 Billion in Hotel Assets to Help Cover $5.2 Billion Purchase Price of LaSalle

Pebblebrook already has agreed to sell three LaSalle properties for $715 million, including Park Central New York, and expects to unload as much as $1 billion in assets.Pebblebrook Hotel Trust Chief Executive Jon Bortz’s plans to bring the two luxury lodging groups he founded under one roof include asset sales of as much as $1.715 billion of LaSalle Hotel Properties’ hotels.

Bortz told analysts he intends to follow up on a promise he made during…

Chicago’s $1 Billion Historic Union Station Redevelopment Gets a New Look

New plans for Chicago’s Union Station redevelopment call for a 50-story office tower next door in lieu of a maligned boxy structure atop the original building; Photo credit: Goettsch Partners.

Developers removed a proposed boxy modernist structure that architecture buffs complained would mar Riverside Inv

Transwestern Adds Bertrand to Chicago Agency Leasing Team

Transwestern bolstered its agency leasing team in Chicago with the addition of former MB Real Estate broker Kathleen Bertrand as a senior vice president.

Bertrand brings 14 years of commercial real estate experience to the firm. In her career, she has managed approximately 2.5 million square feet in office and retail leases while working on such notable assignments as Michigan Plaza at 205 and 225 N. Michigan, 500 W. Washington St., 1 North Dearborn…

Mesirow Financial Raises $567 Million for Third Real Estate Value Fund

Mesirow Financial Real Estate Value Fund III’s most recent buy in May was the 293-unit Landing Double Creek in Austin for $42.5 million.

Mesirow Financial has raised $567 million for its third real estate value fund, pulling in about 30 institutional investors from across the U.S., Europe and Australia as they seek double-digit returns on their investment in upgrading properties.

Launched in March 2017, the fund was targeting raising $750 million…

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