Repsol has agreed to sell a 43.8 per cent stake in its 629 MW Outpost solar project in Texas to infrastructure investment firm Stonepeak for $252.5 million (€220 million). The transaction implies a total asset valuation of approximately $775 million (€675 million), which includes tax equity proceeds from Production Tax Credits. This deal represents Repsol's second use of an asset rotation strategy in the US renewables market to optimise its financial structure and attract strategic partners.
Investcorp Capital PLC, the ADX-listed firm founded by Investcorp, announced the acquisition of a diversified US industrial real estate portfolio for approximately $400 million. The 35-building, 2.6 million square-foot portfolio is 97% occupied and spans seven resilient coastal markets including Sacramento, Philadelphia, Long Island and multiple locations in Florida.
New Murabba, a Public Investment Fund company, and the U.S. Green Building Council (USGBC) have signed a Memorandum of Understanding in Washington, D.C., establishing a framework to explore collaboration in sustainable urban development. The agreement focuses on applying global sustainability frameworks like LEED across the New Murabba project. New Murabba has also joined the USGBC as a Platinum member, signalling a deep commitment to sustainability leadership in creating a new destination in Riyadh.
Premium-casual Canadian restaurant chain Moxies is officially opening its first Washington D.C. location on December 9, at 1111 20th St. NW, near Dupont Circle. The new flagship venue, spanning over 8,000 square feet, will serve its signature menu of globally inspired dishes. The D.C. franchise is led by former Executive Chef Brandon Thordarson, who stated the Dupont Circle area is the "perfect place" for the brand's sophisticated and social atmosphere.
The Investors Pool, a new platform by Fractional Syndication LLC, has launched with the aim of revolutionising global real estate investment. Using blockchain technology to convert property ownership into digital tokens, the platform allows individuals to invest in a diversified portfolio of US assets for as little as $100. The platform focuses on high-yield properties, including planned unit developments and specialized rental housing.
Lifestyle Communities has appointed Michael Jordan as Chief Investment Officer as the firm advances its expansion across major US markets. Announced in Columbus, Ohio, Jordan will lead investment strategy, financing and capital partnerships alongside Founder and CEO Michael DeAscentis Jr. With more than $5 billion in career transactions, he joins from GIC Real Estate as LC targets growth in cities including Nashville, Charleston and Austin.
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