Saturday , 4 July 2020
Breaking News

Insurance Companies Make Major Realty Buys

Insurance firms are on a commercial realty buying spree, according to an article by Ben Johnson on Major deals include:

1. Metropolitan Life purchase of  Reynolds Plantation 70 miles east of Atlanta, which includes The Ritz-Carlton Lodge, six  golf courses, four  marinas and nearly 5,000 acres of undeveloped golf and waterfront property.

2. Prudential Real Estate Investors,  in a joint venture with Lodging Capital Partners, acquired the 291-room Austin Four Seasons hotel in Austin.  In April, PREI purchased the Axis apartment development on Atlanta’s perimeter for $53.5 million. PREI also is expectd to buy the 20-story Ten Peachtree Place in midtown Atlanta from a partnership between Cousins Properties and Coca-Cola.

3. USAA Real Estate Co. and GlenStar Properties LLC purchased the landmark Chicago Board of Trade Building, a 1.3 million sf project.

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