NPS and Stockbridge Form New Industrial Real Estate Joint Venture


Stockbridge announced today that it has formed a joint venture with the National Pension Service of Korea (“NPS”) to acquire core logistics properties in the U.S. In partnership with Stockbridge’s open-end core fund and an additional institutional investor, this newly formed venture has committed to acquire a 14.3-million square foot portfolio of Class A logistics facilities across the U.S.—the largest transaction by value of industrial properties since the onset of the pandemic. Financial terms of the transaction and the seller were not disclosed.

The portfolio includes recently completed and soon-to-be-completed properties, with a significant representation of major e-commerce tenants under long-term leases. With an average year built of 2020, the portfolio embodies the latest evolution in technology-forward logistics construction, designed towards meeting demand for ever-faster e-commerce fulfillment and delivery times.

“We are excited to acquire high-quality industrial properties that are well aligned with our strategy

Read More

‘Lord of the Rings’ actors form fellowship to try and buy Tolkien’s old house

It’s always nice to see the folks of Middle-earth banding together again.

Ian McKellen, Martin Freeman are posing for a picture: 'Lord of the Rings' actors form fellowship to try and buy Tolkien's old house

© Provided by Mashable
‘Lord of the Rings’ actors form fellowship to try and buy Tolkien’s old house

Earlier this year we got to watch the Lord of the Rings cast hanging out on a video call for an episode of Josh Gad’s YouTube series Reunited Apart, and now they’ve created a fellowship once again — only this time, for a very different reason.

On Wednesday, former Balrog-conquerer Ian McKellen took to Twitter to share a video advertising Project Northmoor — a campaign led by author Julia Golding to purchase J.R.R. Tolkien’s former home in Oxford, UK, so it can be transformed into a literary centre dedicated to his work.

The video features cast members from both The Hobbit and the Lord of the Rings trilogy, including the likes of McKellen (Gandalf), Martin Freeman (Bilbo Baggins), John

Read More

Brookfield Real Estate Veteran Ric Clark to Form WatermanClark

(Bloomberg) — Ric Clark, a Brookfield veteran of more than three decades, is teaming up with Philip “Tod” Waterman to form a new real estate investment and operating company known as WatermanClark.

“Ric and I have collaborated on real estate investments and civic projects for more than three decades and we are thrilled that timing and circumstances have come together to allow for this partnership to happen,” Waterman, a former Tishman Speyer executive, wrote in a memo to staff reviewed by Bloomberg News.

Ric Clark GETTY sub

© Photographer: Eugene Gologursky/Getty Images
Ric Clark GETTY sub

Ric Clark


Load Error

Photographer: Eugene Gologursky/Getty Images

The New York-based venture will make new bets on commercial real estate and become the employer of all Waterman staff as of Jan. 1, according to the memo. It’ll also oversee properties Waterman Interests owns or manages including 400 Park Ave., Lever House at 390 Park Ave. and 125 W.

Read More

Lincoln commercial real estate vets form new firm | Local Business News

Several veterans of the Lincoln commercial real estate market have formed their own firm.

LINE Partners, which is affiliated with Omaha-based companies, OMNE Partners and Seldin Company, as well as Chicago-based Agman, is now offering a full suite of commercial real estate services in the Capital City.

Chris Vasek, a 14-year veteran of the Lincoln market, is the president of LINE Partners, and Michelle Wangler, vice president of property management, has 20 years of experience. Both most recently worked for NAI FMI Realty.

Other members of the firm are senior associate Mattison Wenzl, who also formerly worked at NAI FMA, and sales associate Pat Heiser.

Residential portion of Lincoln’s Telegraph District making progress

Pandemic will end Nebraska Club’s 66-year run in Lincoln

Many downtown Lincoln projects still moving forward despite pandemic

Biz Buzz: One downtown restaurant closed; another plans to open in south Lincoln

Photos: New construction in Lincoln

Read More