American Realty Capital New York City REIT has acquired a 22-story, 253,418-square-foot office tower in Midtown Manhattan for $180 million. The property, at 1140 Avenue of the Americas, was sold by Blackstone Real Estate Partners VI.
Easterly Government Properties, a REIT that invests in office buildings leased primarily to the federal government, raised $180 million in an initial public offering that was priced at $15 per share. The REIT sold 12 million shares, and underwriters have a 30-day option to buy an additional 1.8 million.
MetLife bolstered its commercial real estate holdings with the purchase of the Fairmont Hotel in Washington, D.C., from Ivanhoe Cambridge for $180 million. The insurer's equity real estate portfolio totals nearly $16 billion.
Lend Lease has launched a wholesale fund to acquire medium-sized retail centers in Australia. It says that domestic and foreign investors have already committed $180 million to the fund. The fund will target properties in which Lend Lease can add value.
Australia and New Zealand Banking Group, DBS Bank and Standard Chartered have been hired by Fortune Real Estate Trust to arrange and underwrite a $180 million loan for the REIT, according to a source. The three banks will look for other investors for the three-year loan, which includes a revolving credit facility. Fortune REIT plans to use the proceeds to acquire two properties in Hong Kong.