International
RosEuro Development Acquires Aura Shopping Center in Novosibirsk from Amstar and Renaissance
Amstar recently announced the sale of the Aura Shopping Center in Novosibirsk, Russia, to RosEuro Development.
Industry House Sells in Canberra’s Largest Office Transaction This Year
UK-based Brompton Asset Management has acquired the 15-story Industry House building in the Canberra commercial business district for $151.7 million. The transaction ranks as the largest deal of its kind in the capital city’s office market this year.
First Ritz-Carlton Hotel in Israel Confirms Late 2013 Opening
One of the largest luxury hotel groups in terms of both number of venues and notoriety is set to open its first Israeli location.
$2B Urban Rejuvenation Project in London Reaches Milestones
Major milestones have been recently reached in the $2.32 billion (£1.5 billion) Elephant & Castle urban rejuvenation project led by the London Borough of Southwark Council and its commercial partner Australian infrastructure and property group Lend Lease.
Hines Seals Land Deal to Develop 54-story Mixed-Use Project in Shanghai
Hines recently announced it has won the bid for a site in Shanghai’s Jing An business district.
Manulife Launches New SOM-Designed Office Project in Downtown Calgary
Manulife Real Estate has announced the development of 707 Fifth Street, an elliptical 27-story office tower slated to rise in the heart of downtown Calgary.
Brookfield Multiplex Nabs Green Multifamily Contract in Melbourne
Leading global contractor Brookfield Multiplex has taken yet another bite out of the Australian real estate development market, snagging the construction contract for Far East Consortium’s Upper West Side mixed-use project’s third phase.
Hyatt Plans to Partner with Playa Hotels & Resorts to Add All-Inclusive Resorts to Portfolio
Hyatt Hotels Corporation recently announced that a wholly owned Hyatt subsidiary intends to form a partnership agreement with Playa Hotels & Resorts B.V. and enter the all-inclusive resort segment.
Cerberus Acquires Two Retail Property Portfolios in Germany
Affiliates of Cerberus Capital Management LP have entered into definitive agreements to purchase two German retail property portfolios out of receivership.
Massive Italian Resort Project Moves Along as Redevelopment Initiative Packs Punch
One of the most ambitious and audacious hospitality projects in recent years sparked up back in 2007 when German tourist brand TUI AG purchased a struggling settlement in the Italian region of Tuscany with the clear intention of turning it into a new type of attraction.