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Transactions - DECEMBER 9, 2016

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Recent commercial real estate transactions

by Andrea Waitrovich

Below is a sampling of recent property transactions. The largest transactions are office assets in Los Angeles and Miami.

The Blackstone Group has completed its $583 million acquisition of the Howard Hughes Center in Los Angeles, part of Hines REIT’s $1.2 billion liquidation sale, announced this summer. Blackstone plans to significantly upgrade the 1.3 million-square-foot office complex into a “a creative, connected campus.”

And Ponte Gadea Biscayne, an affiliate of Spain-based Ponte Gadea, has acquired the downtown Miami office tower located at 200 S. Biscayne Blvd. for approximately $517 million. The transaction is believed to be the largest commercial purchase in Miami this year.

 

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