PUBLICATION: Real Estate Weekly
DivcoWest has completed its purchase of 325 Hudson Street from Jamestown for $135 million.
The 10-story, mission-critical property located at Hudson and Vandam Streets in Lower Manhattan, sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.
New York – May 26, 2021 – DivcoWest has completed the purchase of 325 Hudson Street, a 10-story, mission-critical property located at Hudson and Vandam Streets in lower Manhattan.
Centrally located in the dynamic innovation hub of Hudson Square, 325 Hudson sits adjacent to Disney’s new 1.2 million square foot headquarters, is surrounded on three sides by Google, and is proximate to the NY Genome Center and NYU’s Langone Health/Biolab co-working facility for early-stage life science enterprises.
The approximately 220,000 square foot flexible building sits atop the fiber-dense Hudson Street corridor and offers a Meet Me Room (MMR) ecosystem with direct access to over 40 fiber networks and five transatlantic subsea cables. This translates to swift and cost-effective data connections.
DivcoWest will maintain a premier core interconnection colocation managed by H5 Data Centers, a national colocation and carrier hotel provider, while also investing in the remaining space to deliver creative and collaborative environments for tenants.
“This building offers real optionality for a variety of users,” said Ariel Aber, DivcoWest’s head of the NY region. “There is tremendous interstitial space between floors, which will appeal to research use, while the large floor plates with clear window lines will also benefit life science and creative office users,” Aber added. DivcoWest believes these features, combined with the unparalleled connectivity, technology infrastructure and location, make the building a rare proposition for enterprises across media, life science and office sectors.
About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in New York, Boston, Washington DC, Los Angeles and Menlo Park, CA. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired nearly 50 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com
PUBLICATION: MULTIHOUSING NEWS
The partnership will acquire and renovate homes throughout the western United States.
Real estate investment firm DivcoWest is investing $250 million in equity in a joint venture with Atlas Real Estate that plans to deploy $1 billion into acquiring and renovating homes for the single-family rental market throughout the Western United States. The JV marks DivcoWest’s entry into the growing SFR market.
The joint venture has already closed its first acquisition in Tucson, Ariz., a property at 4300 W. Bunk House Road, and a handful of properties are currently under contract throughout Arizona, Colorado and Nevada, according to Vincent Deorio, vice president of corporate development.
Noting more offers are going out to buyers in… READ MORE
Publication: Globe Street
Atlas Real Estate and DivcoWest have formed a $1 billion joint venture to acquire, renovate and manage single-family rental homes throughout the American West, signaling the latest entry into the skyrocketing SFR market and marking DivcoWest’s official entrance into the sector.
As part of the deal, San Francisco-based DivcoWest will invest $250 million of equity. The joint venture expects to deploy a total of $1 billion acquiring and renovating homes in high-growth states like Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
The SFR market—traditionally the purview of smaller investors—has… READ MORE
PUBLICATION: GLOBE NEWSWIRE
New funding from the world’s top commercial real estate investors follows record-breaking growth and demand
BOSTON, April 14, 2021 (GLOBE NEWSWIRE) — HqO, the only tenant experience operating system for commercial office buildings, today announced it raised $60M in Series C funding from leading venture capital and commercial real estate firms. Previous investors Accomplice, Insight Partners, JLL Spark, Navitas Capital, DivcoWest, Allegion Ventures, and The Pagliuca Family Office participated in the round, joining new investors PruVen Capital, Cushman & Wakefield, and Suffolk Capital. The company has raised $106.9M to date, and will use the funds to support its rapid growth. As HqO continues to scale, it will expand its existing footprints in Boston, New York City, London, and Paris, as well as open new offices in Toronto and the Midwest and West Coast regions of the United States.
HqO is the undisputed leader in tenant experience technology with more than 150M square feet under management. The company tripled its revenue in the past 12 months and doubled its headcount. The new financing will further accelerate HqO’s growth initiatives and continue the company’s commitment to its world-class product through research and development, as well as support future mergers and acquisitions… READ MORE
PUBLICATION: THE REAL DEAL
Cushman & Wakefield, JLL among investors
Commercial real estate firms Cushman & Wakefield, JLL and DivcoWest are betting on a “tenant experience” startup to help get workers back to their offices.
Boston-based HqO said Wednesday that it closed a $60 million Series C. Cushman was a new investor in the company, along with Suffolk Capital and PruVen Capital. Prior backers JLL, DivcoWest, Accomplice, Insight Partners, Navitas Capital, Allegion Ventures and the Pagliuca family office also participated. The round brings HqO’s total funding to $106.9 million.
HqO was founded in 2018 by Kevin McCarthy, Chase Garbarino and Greg Gomer, who previously started AmericanInno, a digital events business acquired by Advance Publications in 2015.
HqO’s software platform gives landlords the ability to manage tenant-facing tech and amenities in one place. It also has a tenant app, analytics tool and marketplace.
In a statement, Garbarino, HqO’s CEO, said the round comes with strategic partnerships with commercial real estate players. That network will set up HqO “for unprecedented growth as the world returns to offices,” he added. READ MORE
StandardVision was engaged by clients Cushman & Wakefield and DivcoWest to create a monolithic digital art installation for the newly-renovated Kettner & Ash office development in the heart of San Diego’s historic Little Italy district. Along with a design-build solution of the 5 story high LED video wall, StandardVision produced custom artwork that captures the spirit of the development while paying homage to its iconic location. With the goal of integrating the installation to the building’s uniquely vertical atrium wall, StandardVision’s design & engineering team collaborated with architect….READ MORE & SEE VISUALS
Publication: Silicon Valley Business Journal
One of the Bay Area’s largest robotics companies is setting up shop in San Jose, its first outpost in the South Bay.
Johnson & Johnson-owned Auris Health Inc. has leased an entire office and research-and-development building in North San Jose, according to three real estate industry sources who said they were not allowed to talk about it publicly. The building, located at 170 Baytech Drive, totals 76,000 square feet and offers built-out office and lab space as well as “shell” space, which can be customized to suit a tenant’s specific needs,… READ MORE
Publication: Bisnow
By: Mike Phillips
Real estate sages like Blackstone’s Ken Caplan called it early in the downturn: Opportunities to pick up real estate bargains brought about by COVID-19 wouldn’t start to emerge until 2021. So 2020 was a good time to raise capital and get ready to invest.
Here are the seven biggest funds raised in 2020 looking to invest in North America, … read more
PUBLICATION: FENWICK
Fenwick represented Metropolis, an AI and computer vision startup built to modernize parking and empower the future of mobility, in its $41 million Series A financing. The round was led by 3L Capital with participation from 01 Advisors, Dragoneer Investment Group and Slow Ventures, as well as investments from real estate managers Starwood, RXR Realty and DivcoWest, and individual investor Dan Doctoroff.
This round brings Metropolis’ total investments to more than $60 million. More information can be obtained from the company’s announcement… READ MORE
