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15 Things You Need to Know This Morning

Washington, D.C. Morning Brief Washington DC
Washington, D.C. Morning Brief
November 20, 2014 Bisnow
Bisnow Morning Brief Washington DC

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15 Things You Need to Know This Morning
2nd Most Expensive Office Building in History To Be Sold Soon

Blackstone has reached, although not completed, a deal to sell 1095 Sixth Avenue in Manhattan to a JV led by Ivanhoe Cambridge for $2.25B. It would be the second biggest individual office sale in US history. Ivanhoe, a Canadian property investor, has been making major inroads into the American market with purchases in New York and Seattle. It's partnering with Callahan Capital on the purchase of the 1.2M SF Midtown skyscraper. Only the $2.8B sale of New York's GM Building in 2008 would dwarf the sale price if the deal closes.

The Wall Street Journal broke news of the deal and noted that it emphasized howforeign investors have become the dominant buyer of prime American office properties. The transaction also continues Blackstone’s strategy of shedding properties it picked up seven years ago in its leveraged buyout of Equity Office Properties Trust. At the same time, the company is sharpening its focus on overseas markets. 

15 OTHER THINGS YOU NEED TO KNOW THIS MORNING
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The East of the River Development Rundown
EB5 Capital Kicks In Preferred Equity for Riverfront Project
Get Bisnow Education’s Latest Video: Entrepreneurial Real Estate Moves
Merging Neighborhoods a Promising Trend in Northern Virginia
Fairfax Board Approves Westpark Plaza, 1.4M More SF for Tysons
Halfway House in Shaw Being Transformed into Luxury Development
Renderings of What the Future Westbard Could Look Like
BMAC 2014: National Multifamily Conference & Expo
Single Building IPO in the Works
Cabela’s Announces Plans for New Store in Gainesville, VA
Federal Realty Celebrates Phase 1 of Pike & Rose with Ribbon Cutting
Fairfax Co Approves Virginia's First Tesla Dealership
Six-Story Mixed Use Building with Retail Coming to Georgia and Princeton St, NW

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Related Topics: What You Don't Know About, Ivanhoé Cambridge, Callahan Capital Properties, Morning Brief (DC), The Wall Street Journal, National Multifamily Conference, GM Building, Entrepreneurial Real Estate Moves, SF Midtown, Equity Office Properties Trust, The East, Retail Coming, IPO Crushes Record