S&P Global Market Intelligence offers our top picks of U.S. real estate news stories and more published throughout the week. Please note that some entries may have links to third-party sources that may require a subscription.
All about transactions
* CIM Group LP is close to selling five office towers in Oakland, Calif., for about $1 billion, the San Francisco Business Times reported, citing sources with knowledge of the matter. Starwood Capital Group will buy four of the buildings, while healthcare provider Kaiser Permanente Inc. will purchase the 538,000-square-foot Ordway Building at 1 Kaiser Plaza, which it anchors.
* Silverstein Properties Inc. is looking to purchase the 54-story, 1.3 million-square-foot Mellon Bank Center in Philadelphia's Center City for about $440 million from Equity Commonwealth, the Philadelphia Business Journal reported, citing unnamed sources.
* Lamar Advertising Co. purchased the billboard operations of Fairway Outdoor Advertising LLC in several U.S. markets from private equity firm GTCR LLC for $418.5 million in an all-cash deal.
* Shipping and logistics company United Parcel Service Inc. paid $303 million for an industrial site comprising six waterfront parcels in Red Hook, N.Y., The Real Deal reported, citing a city filing. Industrial landlord Sitex Group sold the site, which offers up to 1.2 million buildable square feet.
* Ivanhoe Cambridge Inc. sold the 26-story U.S. Bank Tower building at 950 17th St. in Denver's Central Business District for more than $194 million to Hines, the Denver Business Journal reported.
* RFR Holdings sold the 122,000-square-foot office portion of 160 Fifth Ave. in New York City for about $180.8 million to nonprofit Simons Foundation, The Real Deal reported, citing a source close to the deal.
* Boston Properties Inc. leased over 300,000 square feet at the 1.6 million-square-foot 399 Park Ave. property in Midtown Manhattan, N.Y., bringing its occupancy to 93%.