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Monthly Archives: February 2015

CoStar’s People of Note (Feb. 22 – 28)

  • February 27, 2015
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It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Chicago, San Diego, New York City, Dallas / Ft. Worth, San Francisco…

Cushman & Wakefield’s Owner Exploring Possible Sale

Cushman & Wakefield, one of the premier names in real estate and a global services provider ranked just behind CBRE Group and JLL in terms of size, is reported to be on the block.

The New York-based company, majority owned by Exor SpA, the investment arm of Italy’s Agnelli family, has hired advisors to test market interest in the 98-year-old firm at an approximate $2 billion valuation. The firm is also reported to be seeking a buyer that isn’t…

Blackstone Realizes $600 Million Gain on Economy Hotel Portfolio

The Blackstone Group has realized a $600 million cash return on its acquisition of discount lodging chain Motel 6 in 2012 for $1.9 billion.

The capital recapture comes from refinancing more than 500 of the lodging chain’s hotels through a commercial mortgage securitization offering: Motel 6 Trust 2015-MTL6.

The CMBS transaction is collateralized by a $1.8 billion, fixed-rate loan originated by JPMorgan Chase Bank and German American Capital…

JPMorgan Chase Preps for More Downsizing, Bank Planning To Close 400 Branches

JPMorgan Chase & Co. put the real estate community on alert this week at its annual Investor Day conference by announcing it is not done downsizing its $11 billion office and retail footprint.

The bank said its big focus this year and next will be downsizing its retail branch network and trimming employment cost in its remaining branches.

JPMorgan, which netted 24 branch closures in 2014, is looking to close about six times that number in each…

JPMorgan Chase Preps for More Downsizing, Bank Planning To Close 400 Branches

JPMorgan Chase & Co. put the real estate community on alert this week at its annual Investor Day conference by announcing it is not done downsizing its $11 billion office and retail footprint.

The bank said its big focus this year and next will be downsizing its retail branch network and trimming employment cost in its remaining branches.

JPMorgan, which netted 24 branch closures in 2014, is looking to close about six times that number in each…

JPMorgan Chase Preps for More Downsizing, Bank Planning To Close 400 Offices

JPMorgan Chase & Co. put the real estate community on alert this week at its annual Investor Day conference by announcing it is not done downsizing its $11 billion office and retail footprint.

The bank said its big focus this year and next will be downsizing its retail branch network and trimming employment cost in its remaining branches.

JPMorgan, which netted 24 branch closures in 2014, is looking to close about six times that number in each…

JPMorgan Chase Preps for More Downsizing, Bank Planning To Close 400 Offices

JPMorgan Chase & Co. put the real estate community on alert this week at its annual Investor Day conference by announcing it is not done downsizing its $11 billion office and retail footprint.

The bank said its big focus this year and next will be downsizing its retail branch network and trimming employment cost in its remaining branches.

JPMorgan, which netted 24 branch closures in 2014, is looking to close about six times that number in each…

HBC Partners with Simon, RioCan To Monetize Retail Property Holdings

Hudson’s Bay Co. (HBC), the owner of the Lord & Taylor and Saks Fifth Avenue department store chains in the U.S. and Hudson’s Bay department stores and housewares chain Home Outfitters in Canada, has agreed to contribute and lease-back its extensive retail property portfolio to two new joint ventures formed with Simon Property Group Inc. and RioCan Real Estate Investment Trust as part of a larger strategy to unlock value from its real estate holdings…

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