Category: New

Brookfield partners with CalPERS and CBRE on GGP acquisition

Brookfield Property Partners brought on some big-name partners to help fund its acquisition of General Growth Properties. A CBRE subsidiary, the California Public Employee Retirement System and the TIAA affiliate TH Real Estate agreed to invest in certain GGP properties, the Globe and Mail reported. Brookfield announced in March that...

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DEP employee allegedly at center of $165M construction bribery scheme

The former head of contracts and procurement at the city Department of Environmental Protection agency is at the center of a $165 million bribery scheme that funneled work to construction and engineering companies, officials allege. Ifeanyi “Manny” Madu allegedly provided information on DEP projects to three engineering firms — including...

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Two Trees closes on $53M leasehold purchase of Gowanus site

Two Trees Management has closed on the $53 million purchase of a leasehold for a Gowanus property that is currently home to a Lowe’s. The company acquired 118 Second Avenue, a property that spans 400,000 square feet and has the potential for a roughly 800,000-square-foot project, according to sources familiar...

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Sapir consolidating ownership at Nomo Soho hotel

Alex Sapir is buying out most of the stake his partner Gerard Guez owns in the trendy NoMo Soho hotel, which is valued at more than $246 million. Sapir, who owns the 264-room hotel at 9 Crosby Street through his Tel Aviv-based Sapir Corp., paid an undisclosed figure to purchase...

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Buyer gets $20M mortgage for Harvey Weinstein’s townhouse

UPDATED, April 18, 11:31 a.m.: Talk about a distressed asset. The buyer of disgraced producer Harvey Weinstein’s Greenwich Village townhouse took out a $20 million mortgage — signed by Bruce Karsh, chief investment officer at private equity giant Oaktree Capital Management. The Oaktree executive’s signature was on the loan from Bank...

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