Westbrook Partners sold the building after buying it in 2017 for $72M and repositioning the asset.
Private equity has been conspicuous by its absence in distressed retail real estate
The sharp economic decline resulting from the spread of the coronavirus may be a greater opportunity to buy distressed assets than even the Great Recession.
The owners of the historic CBOT building just joined the large group of CBD property owners that opted to refinance their buildings instead of selling.
The sheer amount of capital raised to take advantage of distressed assets is making the market too frothy to be profitable.
Adhan Group is buying a regional mall at a premium to book value.
Developer R2 has been hired by new owner Apollo Capital Management to seek new office tenants and explore other uses for the iconic building.
KKR, Carlyle and Blackstone are raising money for Europe-specific real estate funds.
Ashford Hospitality Trust has begun selling assets in a bid to pay down debt incurred at the height of the pandemic.
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