News/Events
KKR, AEW Seek Exits from Chinese Commercial Property Holdings
KKR and AEW Capital Management seek to sell commercial property holdings in China as global investors continue to retreat from the country’s prolonged real estate downturn, Bloomberg News reported. KKR is marketing nine properties across China, including a high-end apartment complex in suburban Beijing and a hotel on Shanghai’s historic Bund, while AEW is looking to…
Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'
Kevin Warsh seemed to some almost unwilling to commit to raising rates if inflation didn't track back toward the central bank's long-stated 2% target.
Sunday Summary: Shutdowns, Earnings and Wildcatters
After the Pfizer accident (if that’s the right word — we’re still not sure what to call it) Commercial Observer was somewhat sanguine in our predictions. Would an incident in which nobody got hurt and the building is still standing forestall the mighty wave of office-to-residential conversions that was about to crash on Manhattan’s bejeweled…
Nscale Closes on $900M Credit Facility to Accelerate Data Center Build-Out
Artificial intelligence infrastructure startup Nscale Global Holdings has closed a $900-million revolving credit facility to accelerate its AI data center build-out and capital deployment across the U.S., Europe and Asia Pacific. The facility was syndicated across a group of banks including J.P. Morgan, Goldman Sachs, Morgan Stanley, MUFG, RBC Capital Markets, Bank of America, Crédit…
Vici Properties Is Standing By to Build a Las Vegas NBA Arena
Vici Properties executives during a Thursday morning earnings call teased the possibility of building a National Basketball Association (NBA) arena complex on land the company owns in Las Vegas. In addition to being the largest owner on the Las Vegas Strip with properties including the Venetian, Mandalay Bay, the MGM Grand and Caesars Palace, the…
Spanish Hotel Operator Buys Chemists’ Club Hotel at 52 East 41st Street for $95M
A 107-key hotel in Midtown has traded for roughly $95 million. Eurostars Hotel Company, a Spanish hotel chain managing more than 300 properties globally, has purchased the Chemists’ Club Hotel at 52 East 41st Street from Azora, another Spanish company specializing in large-scale hotel investments, according to a source with knowledge of the deal. Eastdil…
Avison Young Had Assets Frozen By Bank Over Unpaid Taxes
A judge has since unfrozen the brokerage’s accounts so that its companies can pay the millions of pounds it owes the government in taxes.
Izo Capital Lends $26M on Wyoming Apartments Near Jackson Hole
Sundance Properties has sealed $25.6 million of construction financing to bring a multifamily development in Alpine, Wyo., across the finish line, Commercial Observer has learned. Izo Capital supplied the 24-month senior construction loan to fund the completion of Phase 1 of the developer’s planned the Flats at Alpine Junction project comprising 64 units. The debt…
PwC Commits to 350K SF at Canary Wharf Complex
Accounting giant PwC has agreed to lease approximately 350,000 square feet at One Eden, a redevelopment of an office property currently known as 33 Canada Square at CWG’s Canary Wharf mixed-use complex in London. Currently occupied by Citigroup’s EMEA headquarters, the space will be redeveloped in advance of PwC’s arrival. The new space will address…
