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NEW YORK CITY — The Blackstone Group (NYSE: BX), in partnership with Ivanhoé Cambridge, has acquired Stuyvesant Town-Peter Cooper Village, a 110-building multifamily complex in Manhattan that includes more than 11,000 units. Although the purchase price wasn’t disclosed in a press release issued today by the mayor’s office confirming the deal, the Wall Street Journal lists the sales price at approximately $5.3 billion. Ivanhoé Cambridge is the real estate arm of Canadian pension fund Caisse de dépôt et placement du Québec.Since 2010, a group of creditors led by CWCapital Asset Management, owned by Fortress Investment Group LLC, has controlled the complex, the Journal adds. As part of the deal, Blackstone signed a regulatory agreement with the City of New York to preserve 5,000 units of the complex as affordable housing for the next 20 years. Some 4,500 of the two-bedroom units will be reserved for families of three earning up to $128,210 per year. They will pay rent of $3,205 per month. An additional 500 two-bedroom units will be reserved for families of three earning up to $62,150 per year, who would pay approximately $1,553 per month. The remaining half of the units of the complex would rent at market rate, or more than $4,200 per month for a two-bedroom apartment. “It …

NEW YORK AND CLEVELAND — NorthStar Asset Management Group Inc. (NYSE: NSAM), a global real estate management firm, has entered into a definitive agreement to acquire an 85 percent interest in The Townsend Group, a global real estate investment manager and advisor based in Cleveland. NSAM will acquire the interest in Townsend Group for approximately $380 million, predominantly from funds affiliated with private equity firm GTCR. Founded in 1983, Townsend Group’s assets under management totaled approximately $12.8 billion as of June 30. The firm has offices in Cleveland, San Francisco, London and Hong Kong. New York-based NSAM has approximately $24.7 billion in total assets of managed companies as of June 30, including investments under contract or acquired subsequent to the second quarter of 2015. Since its inception in 1980, GTCR has invested more than $12 billion in over 200 companies. The private equity firm is based in Chicago. “We are extremely pleased with this strategic opportunity to expand and accelerate our asset management capabilities, both in the United States and internationally, with the acquisition of one of the world’s premier institutional real estate asset management platforms,” says David Hamamoto, executive chairman of NSAM. “Townsend, which sits at the epicenter of …

SAN DIEGO — BioMed Realty Trust Inc. (NYSE: BMR) has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding shares of common stock of BioMed Realty for $23.75 per share in an all-cash transaction valued at $8 billion. BioMed Realty Trust’s stock price closed Wednesday, Oct. 7 at $21.58 per share. BioMed Realty’s board of directors has unanimously approved the transaction. San Diego-based BioMed Realty Trust owns or has interests in properties comprising approximately 18.8 million rentable square feet. The majority of the company’s holdings are located in Boston, San Francisco, San Diego, New York and Maryland. “Demand for high-quality, institutional real estate to support the unprecedented growth of the life science industry is at historic levels as demand is outpacing supply in all of our core innovation districts,” says Alan Gold, chairman, president and CEO of BioMed Realty. “However, we believe that the public markets are not adequately valuing our assets and proven business model. Entering into this transaction with Blackstone fulfills our board of directors’ mission to maximize stockholder value.” The deal, which is expected to close in the first quarter of 2016, is contingent upon the …

GREENSBORO, N.C. — Tanger Factory Outlet Centers Inc. (NYSE: SKT) has closed on the sale of five non-core outlet centers to an undisclosed buyer for a total cash sales price of $150.7 million in two separate transactions. The five properties are located in Barstow, Calif.; Kittery, Maine (two properties); Tuscola, Ill.; and West Branch, Mich. The fully occupied, 171,300-square-foot Tanger Outlet Barstow sold for $106.7 million. The 89 percent-occupied Tuscola, West Branch and Kittery centers traded for $44 million. The Barstow center sold at an estimated capitalization rate of 5.8 percent, while the other four properties traded at a cap rate of 10.4 percent. “These centers have an average age of approximately 24 years compared to our remaining portfolio average of 16 years,” says Steven Tanger, president and CEO of Tanger Factory Outlet Centers. “Because of the potential upcoming capital expenditures necessary to enhance these centers, as well as changes within each market, we no longer felt these assets could produce the growth in long-term internal cash flow and tenant sales that we are expecting within our core portfolio.” While the Barstow center is performing at a high level today, Tanger says it was an outlier in its portfolio given …

SANTA MONICA, CALIF. — The Macerich Co. (NYSE: MAC) has formed joint ventures to which the company will contribute interests in eight regionals malls totaling roughly $2.3 billion. GIC will have a 40 percent interest in five of the assets, and Heitman will have a 49 percent interest in the remaining three assets. The transactions are expected to close in phases starting in October 2015 and concluding in the first quarter of 2016. “We are pleased to have entered into these transactions with two very well-regarded investment partners on this cross-section of assets from the Macerich portfolio,” says Arthur Coppola, chairman and CEO of Macerich. “The expansion of our long-standing relationship with leading real estate investment management specialist Heitman and the beginning of a new one with GIC, one of the world’s premier global investment funds, validates the strength of the Macerich operating platform and demonstrates the demand for high-quality regional mall assets, while also providing the company with significant capital to create additional shareholder value.” Macerich sold a 40 percent interest to GIC for the following five assets: • Arrowhead Town Center in Glendale, Ariz. • Lakewood Center in Lakewood, Calif. • Los Cerritos Center in Cerritos, Calif. • …

HOLLYWOOD, CALIF. — Gemdale Properties and Investments, a subsidiary of Gemdale Corp., one of China’s largest real estate developers, and Los Angeles-based LaTerra Development have formed a joint venture to develop Deluxe Hollywood, a $125 million mixed-use project located in Hollywood. This project will be the first real estate investment in Hollywood by a major Chinese company. “This inaugural Los Angeles investment promises to be the first of many deals as we ramp up our capital investment and property development business in Los Angeles, a market that we are confident presents great value,” says Jason Zhu, CEO of Gemdale USA. The four-acre mixed-use project, located at 1350 N. Western Ave. at Sunset Boulevard, will include office, retail and multifamily space. The site is within two blocks of Icon at Sunset Bronson Studios, and is in close proximity to the Hollywood and Western station of Metro’s Red Line connecting to downtown Los Angeles. LaTerra Development is a residential and mixed-use development company with a focus on urban infill locations throughout Los Angeles, Orange County and San Diego. Gemdale Properties and Investments is a leading real estate developer in the greater China region. Gemdale was founded in 1988 and is listed on …

NEW YORK — Berkadia has arranged two loans totaling $366.7 million for two Brookdale Senior Living portfolios consisting of 39 seniors housing properties. The two portfolios are located across 17 states, including California, Illinois, New York, North Carolina, Texas and Washington. Managing directors Heidi Brunet and Christopher Fenton of Berkadia’s Seniors Housing and Healthcare Group originated the financing for Brookdale (NYSE: BKD), which will use the loans to refinance existing debt on the properties. Brunet and Fenton secured a $226.4 million, 10-year loan through Berkadia’s Fannie Mae program for the first portfolio of 21 properties totaling 1,924 units. The portfolio, which has an average occupancy of 90.6 percent, consists of 5.7 percent independent living, 15.9 percent memory care and 78.4 percent assisted living units. The pair also closed a $140.3 million, seven-year loan through Berkadia’s Freddie Mac program for a portfolio of 18 properties. The portfolio, which consists of 1,190 units in total, comprises 22.9 percent memory care and 77.1 percent assisted living units. Average occupancy was 87.8 percent at time of closing. “Our team’s extensive experience working with seniors housing assets across the country allowed us to secure competitive loan terms for these expansive portfolios,” said Brunet. “We have …