Adriana Pop
Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https://www.linkedin.com/in/ioana-adriana-pop-811772108/.
HFF Markets Indianapolis Multi-Housing Communities on Behalf of Milhaus
Milhaus Ventures has retained HFF to market for sale two of its newly constructed multi-family communities, the 384-unit Solana Apartments at the Crossing in Indianapolis and the 193-unit Penn Circle Apartments in Carmel.
Sigma JV to Develop Rental Homes in Britan for $1B
Property developer Sigma Capital Group has formed a $1 billion joint venture with Shariah-compliant Gatehouse Bank for the development of up to 6,600 new rental homes in Britain.
2015 Opening Planned for Ace Hotel in Pittsburgh’s East Liberty
Plans for the $23 million conversion of the former East Liberty YMCA building into an Ace Hotel are moving forward. According to the Pittsburgh Post-Gazette, the city’s Urban Redevelopment Authority has recently approved a $75,000 facade grant for the upcoming 63-room hotel at 120 S. Whitfield St., which will include a restaurant, a ballroom and a fitness center. Construction will also be financed through $11.5 million in new markets tax credits.
New Ritz-Carlton Hotel to Open in Eastern China in 2015
The Ritz-Carlton Hotel Co. continues to expand in China, with the opening of a new hotel in the former Chinese capital of Nanjing, in Jiangsu Province.
Oxford Development Plans 299-Unit Apartment Community in the Strip District
A 299-unit apartment complex is slated to rise on the Allegheny riverfront in Pittsburgh’s Strip District. According to the Pittsburgh Post-Gazette, Oxford Development Co. is proposing the construction of a mix of one-, two- and three-bedroom units on four acres of land between 26th and 27th streets.
A&B to Acquire Hawaii Commercial Portfolio from Kaneohe Ranch and the Harold K.L. Castle Foundation
In a $373 million deal, Alexander & Baldwin, Inc. has agreed to purchase the Hawaii commercial real estate portfolio of Kaneohe Ranch and the Harold K. L. Castle Foundation.
Freeport-McMoRan Center Receives TOBY Award; MIG Picks Up Class A Office Building
Freeport-McMoRan Center, a 26-story mixed-use building in the heart of downtown Phoenix managed by Transwestern, received The Outstanding Building of the Year (TOBY) Award for 2013 from the Building Owners and Managers Association (BOMA), Greater Phoenix chapter.
Foundry Associates Buys Historic Office Complex for $19M
In a $19.05 million deal, Foundry Associates, L.P. has purchased the five-building American Locomotive Works (ALCO) office park along the Woonasquatucket River in downtown Providence.
Associated Estates Purchases Apt. Portfolio from Northwood Ravin for $329.9M
In a $323.9 million deal, Charlotte-based developer Northwood Ravin is selling a portfolio of seven apartment communities totaling 1,606 units to Ohio real estate investment trust Associated Estates Realty Corp.
City Council Green-Lights Castle & Cooke’s Koa Ridge Master-Planned Development
The Honolulu City Council has approved the rezoning of agricultural land in Central Oahu, the Pacific Business News reports. The decision paves the way for the development of Castle & Cooke Hawaii Homes’ Koa Ridge master-planned community, which calls for 3,500 single- and multifamily homes, a medical center, a mixed-use village center, shopping outlets, a hotel, light industrial, recreation areas, as well as churches and open space. The project is slated to rise across 576 acres of land located between Mililani and Waipio.