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Wachovia Selling Branch Sites

August 27, 2008 - The sale of 100 vacant branches to American Realty could generate more than $150 million.

Integration a Bright Spot for Grubb & Ellis in Q2

August 18, 2008 - While the real estate market has collapsed since the May 2007 deal, the company revealed in its second-quarter earnings call that the integration remains on track.

Marwit Takes Trans-Lux Business Line

August 14, 2008 - Marwit Takes Trans-Lux Business Line Marwit Capital has acquired the movie theater division of Trans-Lux Corporation for $24.5 million.

Far and Wide

August 13, 2008 - The distress in the real estate market has forced investors to become even more global in their thinking. TIAA-CREF, for instance, is hanging its shingle in London, while sovereign wealth funds from Oman and Singapore have targeted Europe and Mexico, respectively. Also, the contrarians have started to emerge, with Brookwood and Lubert-Adler among those targeting Florida again, while Investcorp has put together a $1 billion fund to buy real estate credit. …

Cousins Exits Florida Condo Investment

August 13, 2008 - Publicly held Cousins Properties Inc. sold the remaining 120 residential units at Miami condominium unit 50 Biscayne, a 54-story, 528-unit luxury tower. The Related Group, a partner with Cousins in the original investment, is partnering with the new investor, Lubert-Adler Partners, in the acquisition, valued at $30.3 million.

GIC Targets Mexican Retail

August 13, 2008 - Mexico Retail Properties, an operator of retail centers in Mexico, disclosed that an affiliate of the Government of Singapore Investment Corp. (GIC) is making an investment in the company that will take the form of debt and equity. The capital will be used to pursue long-term development opportunities and acquisitions in the region.

Och-Ziff and Choice Collaborate

August 13, 2008 - Och-Ziff Real Estate Acquisitions LP and publicly held Choice Hotels International formed a joint venture to provide majority equity to developers interesting in building hotels branded under the Cambria Suites, MainStay Suites and Suburban Extended Stay names. Terms of the linkup were not disclosed.

Investcorp’s Real Estate Credit Fund Inks Deal

August 13, 2008 - Investcorp’s US real estate group has acquired several mezzanine loans collateralized by various single-asset properties and multiple-asset hotel portfolios located across the US.

WP Carey Adds Goldberg

August 13, 2008 - WP Carey & Co. poached Mark Goldberg, appointing him as president of the firm’s broker-dealer subsidiary Carey Financial LLC, which oversees the wholesaling of the firm’s Corporate Property Associates series of non-traded real estate investment trusts.

Duff Capital Advisors Launches Alternatives Platform

August 13, 2008 - Duff Capital Advisors tapped Morid Kamshad to spearhead the firm’s new alternatives platform in its financial services investment team. The former portfolio manager at Pequot Capital Management will focus on real estate, private equity and absolute return strategy asset classes.

Brookwood Bets on a Florida Rebound

August 13, 2008 - Brookwood Value Partners, an affiliate of Brookwood Financial Partners, acquired the residential lots in Southwest Florida planned community The Grove. The deal represents the firm’s first purchase of finished residential lots.

TIAA-CREF Hangs Shingle in London

August 13, 2008 - TIAA-CREF Asset Management built out the reach of its Global Real Estate group, opening a new office London, which will be staffed with local investment professionals.

Cadwalader Slashes RE Group

August 13, 2008 - Cadwalader, Wickersham & Taft cut 96 lawyers at the end of July, with a story in the Wall Street Journal identifying that most of the layoffs came in the New York law firm’s real-estate finance and securitization practices.

OIF Takes Stake in Jurys Inn

August 13, 2008 - The Oman Investment Fund (OIF) acquired a 50% partnership interest in Jurys Inn, a holding of PE real estate group Quinlan Private, which acquired Jurys in July of 2007.

Freddie Reports Big 2Q Loss; Shares Down 14%

August 13, 2008 - Freddie said its provision for credit losses now stands at $2.5 billion, up from $1.2 billion in the first quarter.