Bloomberg Washington’s Watergate office building, made famous by the political scandal that brought down President Richard M. Nixon, is under contract to be sold. New York real estate investment firm Steinbridge Group and Dallas-based Lincoln Property Co. are buying 2500 and 2600 Virginia Ave. NW, also known as Watergate East, for $107 million, according to the document by brokerage ...

  Bloomberg Cornerstone Real Estate Advisers, an asset manager owned by Massachusetts Mutual Life Insurance Co., agreed to buy ACRE Capital Holdings LLC in a bet on multifamily loans. Cornerstone agreed to pay $93 million to purchase the Plano, Texas-based lender from Ares Commercial Real Estate Corp., the buyer said on Wednesday in a statement. The deal will double Cornerstone’s ...

  Bloomberg Homebuilder Sunac China Holdings Ltd. has temporarily stopped buying land from government auctions in China because prices surged amid a housing rebound, Chairman Sun Hongbin said. “We’ve suspended all bidding recently and didn’t even sign up” for auctions by local governments, Sun said at a briefing. “I feel the risk is too high,” he said without giving a ...