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MCLEAN, VA. — Hilton Worldwide Holdings Inc. (NYSE: HLT) will acquire five landmark hotel properties with proceeds from its recent $1.95 billion sale of the Waldorf Astoria New York to Anbang Insurance Group Co. Ltd., a Chinese company. The properties include Hilton Orlando Bonnet Creek in Orlando, Fla. (1,001 rooms); Waldorf Astoria Orlando in Orlando, Fla. (498 rooms); The Reach, A Waldorf Astoria Resort in Key West, Fla. (150 rooms); Casa Marina, A Waldorf Astoria Resort in Key West, Fla. (311 rooms); and Parc 55 in San Francisco (1,024 rooms). The Parc 55 will be a new addition to the Hilton Hotels & Resorts brand, which Hilton Worldwide will manage. Hilton Worldwide currently manages the other acquired hotels. The five hotels are expected to be part of a 1031 like-kind exchange. The total purchase price of these five hotels of $1.76 billion represents approximately 13 times the midpoint of the five properties’ combined full-year projected 2015 adjusted EBITDA of between $132 million to $138 million. As part of its long-term relationship with Anbang, Hilton Worldwide will continue to operate the Waldorf Astoria New York under a 100-year management agreement. Anbang also plans to complete a major renovation to restore the …

MENLO PARK, CALIF. — Prologis Inc. (NYSE: PLD) has sold a 21-building, 56-acre industrial park in Silicon Valley to Facebook Inc. (NASDAQ: FB). Menlo Science & Technology Park is located on Willow Road between Highway 101 and the Dumbarton Bridge in Menlo Park. Prologis has owned and managed the property since 1998. “Land constraints and increased urbanization pressures in markets such as Silicon Valley support the monetization of select infill assets,” says Michael Curless, chief investment officer of San Francisco-based Prologis. “This project and others in our portfolio benefit from our dedicated team who understand how to identify and unlock the intrinsic value in our value-added conversion properties.” The sales price was not released, but the Silicon Valley Business Journal estimates that the asset traded for roughly $400 million. As part of the transaction, Prologis will provide ongoing management services on behalf of Facebook. Social networking heavyweight Facebook has roughly 890 million daily active users and roughly 1.4 billion monthly active users, according to its fourth-quarter 2014 earnings report. The Menlo Park-based company invested roughly $1.8 billion in property and equipment in calendar year 2014. “Our team has spent the past several years planning the conversion of this site for …

FORT WORTH, TEXAS – RadioShack (NYSE: RSCH) filed for Chapter 11 bankruptcy Thursday after years of struggling with sluggish sales and competing against online retailers. General Wireless agreed to acquire between 1,500 and 2,400 RadioShack U.S. company-owned stores. This acquisition facilitated the bankruptcy filing from RadioShack and some of its U.S. subsidiaries. General Wireless is an affiliate of hedge fund Standard General L.P. It is also Sprint’s biggest shareholder. The sale agreement is subject to court approval and other conditions. RadioShack’s foreign subsidiaries and its franchisee-owned stores are not included in the filing. Other parties will also have an opportunity to submit offers for RadioShack’s assets in a court-approved process. General Wireless has partnered with Sprint to create a new dedicated mobility “store within a store” retail presence in up to 1,750 of the acquired stores. RadioShack currently has about 4,000 company-owned stores in the U.S. The stores that aren’t purchased by Sprint and its affiliates will close through a deal with liquidation firm Hilco Merchant Resources. The 94-year-old RadioShack was suspended from the New York Stock Exchange on Monday. It was known for selling break-out successes, such as the all-electronic calculator and one of the first mass-marketed computers back …

LIVERMORE, CALIF. — Trammell Crow Co., Multi-Employer Property Trust (MEPT), and real estate advisor Bentall Kennedy have announced that construction has begun on Oaks Logistics Center in Livermore, 38 miles southeast of Oakland. The project will consist of three Class A industrial logistics buildings totaling 1.3 million square feet. All buildings will be constructed simultaneously, and the project is scheduled for completion in the fourth quarter of 2015. The price of the development was not released. “We are excited to be working with MEPT, Bentall Kennedy and the city on a meaningful industrial opportunity in the Bay Area,” says Will Parker, principal with Trammell Crow Co.’s Northern California business unit. “Over the past 20 years, TCC’s work with MEPT and Bentall Kennedy has grown into a successful partnership and tackled complex transactions and delivered best-in-class industrial facilities. Oaks Logistics Center is a great example of our collaboration.” The new logistics/fulfillment center will be accessible from major transportation corridors. The three-building development is located on Highway 84 just south of Highway 580 via the Isabel Avenue/Highway 84 interchange. The site has direct access to I-580, proximity to the Port of Oakland and is positioned to serve the entire Bay Area and …

FRAMINGHAM, MASS. AND BOCA RATON, FLA. — Staples Inc. (Nasdaq: SPLS) will acquire Office Depot Inc. (Nasdaq: ODP) for $6.3 billion. The deal comes a little more than a year after Office Depot Inc. and OfficeMax Inc. merged in 2013. Staples will acquire all of the outstanding shares of Office Depot. Under the terms of the agreement, Office Depot shareholders will receive, for each Office Depot share, $7.25 in cash and 0.2188 of a share in Staples stock at closing. Each company’s board of directors unanimously approved the agreement. Based on Staples closing share price on Feb. 2, the transaction values Office Depot at $11.00 per share. This represents a premium of 44 percent over the closing price of Office Depot shares as of Feb. 2, and a premium of 65 percent over the 90-day average closing price of Office Depot shares as of Feb. 2. “This is a transformational acquisition which enables Staples to provide more value to customers, and more effectively compete in a rapidly evolving competitive environment,” says Ron Sargent, Staples’ chairman and CEO. “We expect to recognize at least $1 billion of synergies as we aggressively reduce global expenses and optimize our retail footprint. These savings …