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The week in global real estate - 12 January 2021

The week in global real estate  12 January 2021

A weekly update of the biggest real estate news from around the globe.

Institutional investors

  • RMR Mortgage Trust has been granted an order to deregister as an investment company. This will enable it to operate as a commercial mortgage REIT. More info here.
  • Oman REIT Fund will be launching its initial public offering with subscriptions closing 31 January 2021. Oman REIT Fund is offering OMR26M worth of units. More info here.
  • Power REIT has acquired two properties totalling 4.21 acres in Colorado. Power REIT has agreed to fund the construction of a 2,018 sqm greenhouse facility totalling $1.84M. Alongside this transaction, PropCo has entered into a 20-year triple net lease with The Grail Project to operate a cannabis cultivation facility. More info here.
  • Lone Star equity group has terminated discussions around the £3B sale of the UK residential property company Quintain due to struggling COVID-19 conditions. Quintain owns the 85-acre Wembley Park development site with plans for 8,000 rental homes of which 1,500 are already built. More info here.
  • Brookfield Asset Management will spend $5.9B to purchase the remaining units of its real estate division in order to take it private. Brookfield Asset Management has $575B of assets in real estate, infrastructure, private equity, credit and renewable power. More info here.


  • Microsoft has leased 13,935sqm at the Commonwealth Tower in Arlington. Microsoft will occupy eight floors for its sales department's headquarters. Tenant improvements will be completed in 2022. More info here.
  • Investment firm Meadow Partners has purchased a 99-year lease over an 11,148 sqm office tower in Washington for $230M. The terms of the deal state that Meadow Partners will control the building and pay ground rent to one of the building’s developers, Romanoff Equities, who acquired the tower in a sale-leaseback deal. More info here.
  • Blackstone Group leased office space 2MiamiCentral. Blackstone Group will accommodate more than 200 employees in the 3,809 sqm space. More info here.
  • Epic Games Inc, the creators of Fortnite, have purchased a mall in North Carolina with plans to redevelop the space as their global headquarters. The 91,044 sqm space will be converted into offices and recreation space completed by 2024. More info here.


  • Developer Maximus Aequus has sold a 5.7 acre site near Shrewsbury, UK to Aldi. The site will be developed with a 1,858 sqm food store. Maximus Aequus had originally planned a hotel, café, pub restaurant and industrial unit for the site. More info here.
  • Sainsbury will lease 371 sqm of ground-floor retail space at the Two New Bailey Square development in Manchester, UK. The New Bailey development is being developed by a joint venture between Muse Developments, Legal & General, and Homes England. More info here.
  • KPG Funds has purchased a 286 sqm retail condo in TriBeCa, New York for $12M. More info here.


  • Netflix has leased two new production studios in Korea. It includes six stages and supporting spaces totalling 9,290 sqm. Netflix has invested $700M in Korea since 2015 and created more than 80 shows. More info here.
  • ASOS is planning to develop a £90M distribution warehouse in the West Midlands, UK. The 40,598 sqm site will be completed by 2023. It will have 2,000 staff. The property will be developed by a joint venture between AEW and Allianz Real Estate. More info here.
  • Prologis will purchase 18 logistics facilities in Madrid, Seville, Barcelona and Guadalajara in Spain. The facilities total 437,000 sqm. More info here.
  • Stoford Developments is planning an 11,504 sqm building in Telford on behalf of food manufacturer Portion Solutions. The development will include office space, car parking and distribution and production space. More info here.

Hotel and tourism

  • Magna Hospitality has paid $57.4M to buy the $51M senior loan and take control of the 22-storey Penn Plaza hotel in Manhattan. More info here.
  • The Met Tower is expected to be converted into a mixed-use development including a hotel, retail and office space. The £100M development will include a 260-room hotel. More info here.


  • Amazon is launching a $2B housing equity fund. It aims to preserve and create more than 20,000 affordable housing units in three key areas where the company expects a minimum of 5,000 employees, being Arlington, Virginia and Nashville. The first investment includes $381.9M in below-market loans and grants to Washington Housing Conservancy to create 1,300 affordable homes on the Crystal House Property in Arlington. More info here.
  • A 48-storey built to rent apartment tower is being planned in the former Irish Centre site in Digbeth. The development includes 454 one-bedroom and two-bedroom apartments, plus 929 sqm of amenity space including a gym, cinema, co-working space and a sky bar. More info here.
  • Jonathan Rose Companies has acquired an affordable housing property in the Bronx from Omni New York for $64M. The building is 16,641 sqm and has 190 apartments. More info here.
  • A five-storey apartment building named The Dunes has been proposed to replace Paragon Park in the US. The development is expected to cost $30M and bring $500K per annum in tax revenue for the area. More info here.

Related Experts

Renee Lintott

Strategic Analyst


Renee was the recipient of the Blair Hargrave/Colliers  Scholarship in 2019 before joining the  Strategic Advisory team as an analyst in the same year. Renee worked part time in the team for 2 years whilst completing  her tertiary qualifications and joined full time in mid 2021. 

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