SL Green Realty Corp. is teaming up with Stonehenge Partners to redevelop a former residence for St. Luke’s Hospital Center staff into luxury apartments. The building, at 1080 Amsterdam Avenue, will be obtained by the two, via a 99-year ground lease, and then redeveloped. Total cost of the investment is estimated to be $13 million. Read More
Tales of Investments
Greenwich-based REIT Urstadt Biddle Properties has acquired an interest in a limited liability company that it said will both own and operate the Orangetown Shopping Center, at 15 Dutch Hill Road in Orangeburg.
The Rockland County shopping center is 75,000 square feet and anchored by a 12,400-square-foot CVS drug store. Other tenants there include Allstate, Dunkin Donuts and Subway. Overall, it’s 96 percent leased, UBP’s CFO John Hayes tells The Commercial Observer. Read More
New York-based GTIS Partners, a global real estate investment firm, has closed its GTIS Brazil Real Estate Fund II LP, after raising a total of $810 million from institutional investors.
The firm, which was started in 2005, has raised roughly $2.3 billion of equity over its lifetime. Read More
Ever since the founding of the state of Israel, citizens of this tiny nation have made small financial investments in commercial real estate in the United States. Fifty years ago, these investors might have purchased a six-story walk-up apartment house on the Upper West Side. Today, new breeds of Israeli investors are aggressively pursuing commercial Read More