City of Hope President Annette Walker, FivePoint Holdings CEO Emile Haddad, and a rendering of the completed hospital complex The City of Hope hospital system plans to build a $1 billion hospital and research facility at a former military airbase in Irvine. FivePoint Holdings, a spinoff of Lennar Corp., is redeveloping the former 4,700-acre El […]
It’s all logistics centers nowadays: Clarion Partners leases out big space
Clarion Partners CEO David Gilbert and Kenco Logistics Services Chairwoman Jane Kennedy Greene Clarion Partners has leased out the entirety of a massive Perris logistics property to Kenco Logistics Services, which has been building out its Southern California footprint. Kenco leased the 579,708-square-foot Perris Logistics Center at 3900 Indian Avenue in Perris, a Riverside County […]
Canada’s favorite alternative investment? Real estate
(Credit: iStock) Institutional investors in Canada are prioritizing North American real estate over other alternative investment options despite some reservations about financial performance. CIBC Mellon, headquartered in Toronto, commissioned a study to find out more about how institutional investors in Canada were thinking about alternative investments. The report, titled “Race for Assets: Canada vs. the […]
“Lies and deceptions”: Ex-director of single-asset REIT company Elevated Returns sues CEO
Jason Kirschenbaum and Elevated Returns CEO Stephane De Baets (Credit: LinkedIn and Getty Images) The former managing director of Elevated Returns, an asset-management company that specialized in single-asset real estate trusts, claims he was fed a “string of lies and deceptions” by CEO Stephane De Baets, who allegedly stiffed him on compensation. In a lawsuit […]
Blackstone turning its attention to European industrial real estate
From left: Blackstone President and COO Jonathan Gray, and Blackstone CEO Stephen Schwarzman On the heels of its blockbuster industrial deal in the United States, Blackstone Group is turning its attention to warehouses in Europe. The private-equity giant is assembling $6.8 billion worth of its European warehouse properties into a new company that it ultimately […]
Headquarters by WeWork expands into LA; adds to NY locations
Adam Neumann, Arash Gohari, and one of their new offices in Santa Monica WeWork is expanding its “headquarters by WeWork” platform, signing lease deals for locations in Los Angeles, San Francisco, New York and Seattle. The three spaces in L.A. mark an entrance for its headquarters service, which caters to mid-size companies without WeWork branding, […]