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Monthly Archives: June 2016

Steelbridge Wraps Up SunTrust Center Acquisition in Largest South Florida Office Trade Year to Date

Steelbridge Capital, a privately held real estate investment firm with offices in Chicago and Miami, wrapped up its acquisition of SunTrust Center, a pair of office buildings at 501 and 515 East Las Olas Boulevard in Ft. Lauderdale, FL.

Spanning a city block and totaling 278,635 square feet, SunTrust Center is the largest office building to trade in Broward County’s downtown submarket so far this year. Terms of the sale were not disclosed, although…

Brexit Vote Amplifies Downside, Upside for U.S. Investors in the U.K.

Even as investors appeared to quickly move past the shock of Britain’s surprise vote last week to unfriend the European Union, the outlook remains complicated for U.S.-based owners of properties in the U.K. and other foreign owners.

U.S. REITs own more than 420 properties in the U.K. and foreign investors overall account for half of the value of commercial property purchases there, according to Jason Sibthorpe, senior director and head of transactions…

Ashford Prime to The Weisman Group: ‘Make Us a Better Offer’

Ashford Hospitality Prime Inc. sent a letter saying basically, “let’s make a deal’ to Lyle Weisman, manager of the Weisman Group. Earlier this month, The Weisman Group, an investment firm based in Sherman Oaks, CA, made an unsolicited offer to acquire all of the property assets of the Dallas-based hotel REIT.

Weisman is offering $1.48 billion including refinancing of all existing Ashford Prime debt. The offer is non-binding and would be subject…

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