David Westenhaver
Oxford Properties and CPP Investments had co-owned the portfolio that includes the building on a 50-50 basis, until Oxford agreed to buy out CPP’s stake for $1.1bn.
The US sale-leaseback market has stayed relevant, thanks in part to a few niche indicators.
Spear Street Capital purchased the 31,000-square foot mixed-use property for $40m in March, with a $24m loan from a Blackstone Real Estate Debt Strategies fund.
The manager reportedly outbid KKR and BGO for the mixed-use Garden Terrace Kioicho and its 1.2 million square feet of fully occupied offices.
A new chapter begins for the Fukushima-based hotel and water park, following a $100m offer from the New York-based manager.