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August 3, 2020

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ACQUISITION COMPLETE; THYSSENKRUPP ELEVATOR INDEPENDENT

The acquisition of thyssenkrupp Elevator by private-equity firms Advent International and Cinven is complete, with all relevant regulatory authorities approving the transaction, thyssenkrupp Elevator announced on July 31. "The successful closing marks a new chapter in our history," CEO Peter Walker said. Advent and Cinven said they aim to grow thyssenkrupp Elevator through organic growth; carefully targeted acquisitions, particularly in Asia; energy-efficient product development; and R&D. As part of the change in ownership, thyssenkrupp Elevator will relocate its global headquarters from Essen to Düsseldorf, Germany, in 2021. With operations worldwide and more than 50,000 employees, thyssenkrupp Elevator had sales of EUR8 billion (US$9.4 billion) in 2018-2019. Service is its most important business, with approximately 1.4 million units under maintenance and more than 24,000 service technicians globally. Its stable service business allowed thyssenkrupp Elevator to "demonstrate its fundamental resilience" throughout the impact of the COVID-19 pandemic as it "ensured ongoing mobility in. . .healthcare facilities and public buildings."

CTBUH ADDRESSES DISCRIMINATION, SYSTEMIC INEQUALITY

The Council on Tall Buildings and Urban Habitat (CTBUH) has established an "Equity, Diversity, and Inclusion Committee," intended to facilitate its desire "to foster a welcoming environment and promote a community of respect that honors the humanity of all." The committee will create interventions that establish minimum targets for diverse representation among all CTBUH-associated groups and initiatives, including staff, conference speakers, volunteers and steering committees. Plans are to involve not only expanding its outreach strategy for speaker opportunities, but also addressing internal factors, such as topics it covers, barriers to access, and making its digital and physical environments welcoming to diverse perspectives from underrepresented colleagues. Citing "deep societal problems in the wake of the killing of George Floyd, the COVID-19 pandemic and gross economic inequality" and support of the Black Lives Matter movement, CTBUH also committed to establishing partnerships and being involved in scholarship efforts to help fundamentally change the way it works and operates. Those who want to get involved with or provide confidential feedback to the committee are encouraged to submit text here.

TOWERS RISING IN GREENPOINT LANDING IN BROOKLYN

High-rise construction activity is picking up in the Greenpoint Landing development in Greenpoint, Brooklyn, New York, with progress noted at two sites, New York YIMBY reports. In the first one, at 221 West Street, work on the two-tower project has risen above street level. Also known as "Greenpoint Block D," 221 West Street comprises 30- and 40-story residential towers. Designed by OMA and being developed by Brookfield Property Partners and Park Tower Group, the project broke ground in November 2019. The two-tower project will hold 745 rental units with such amenities as a swimming pool and a fitness center. There will be 8,600 ft2 of retail space. The other project, known as One Bell Slip, will result in a 31-story residential tower with 413 units within its 379,803 ft2. On a recent visit to the site, it was noted that construction had progressed above the podium level. One Bell Slip, also being developed by Brookfield Property Partners and Park Tower Group, is being designed by Handel Architects. No completion dates have been given for either project. When complete, the 22-acre Greenpoint Landing development will bring 10 buildings with 5,500 residential units, a K-8 public school and a park to the site along the East River.

MOST UNITS IN “BEYONCÉ-INSPIRED” MELBOURNE TOWER SOLD

Ninety percent of the nearly 800 apartments in the 79-story Premier Tower, developed by Singapore-based Fragrance Group in Melbourne, Australia, have been sold, The Urban Developer reports. Being built by Multiplex and scheduled for completion by the end of the year, the tower's shapely form is said to have been inspired by the pop star Beyoncé, although a Fragrance Group spokesman disputed that. In any case, a Beyoncé-themed sales campaign in 2015 resulted in 60% of the units selling. In addition to 796 apartments, Premier Tower has a six-story podium that will house a 172-room hotel.

July 31, 2020
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July 28, 2020

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