Adrian Maties
St. John Properties Constructing 320,000 Square Feet of Speculative Office Space in MD and VA
St. John Properties, Inc. has announced it started construction activities on five new speculative office buildings in the Greater Baltimore and Northern Virginia areas. Even though there has been little speculative office construction in recent years, the company is confident demand will rise and that it will find tenants to occupy the 320,000 square feet of space.
Armada Hoffler Kicks Off $89M Mixed-Use Tower in Virginia Beach
Armada Hoffler, one of the Mid-Atlantic Region’s dominant, full-service real estate and construction organizations, broke ground last week on the new 794,000 square foot Main Street Tower, in Virginia Beach. The groundbreaking ceremony featured Virginia Governor Robert F. McDonnell and Virginia Beach Mayor Will Sessoms. Tom Winborne, CEO of Clark Nexsen, and Lou Haddad, President and CEO of Armada Hoffler, also spoke about the project.
Port Authority to Issue $90M in Bonds to Pay for New Cuyahoga County HQ
The Cleveland-Cuyahoga County Port Authority’s Board of Directors voted during its meeting on March 14 to sell up to $90 million in bonds to finance Cuyahoga County’s new headquarters. The project is expected to revitalize one of downtown Cleveland’s older business districts and also serve as an anchor for surrounding mixed-use redevelopment.
Capital Investment Group Breaks Ground on The Lofts at Ivy Pointe
Capital Investment Group Inc. broke ground on Monday, March 11, on a $13 million apartment project in Union Township, a thriving community on the outskirts of Cincinnati. It is the first urban apartment development in Clermont County.
Monday Properties, Goldman Obtain $200M Construction Loan for 1812 N. Moore St.
Monday Properties and Goldman Sachs’ Real Estate Principal Investment Area have closed a $200 million construction loan with Pacific Life Insurance Company for 1812 North Moore Street. The 390-foot building will be the tallest and greenest office tower in the Washington, DC region.
Vice President Joe Biden, Governor Martin O’Malley and Other Dignitaries to Celebrate Grand Opening of $112M John and Frances Angelos Law Center
The University of Baltimore has announced that U.S. Vice President Joe Biden and U.S. Supreme Court Associate Justice Elena Kagan will join Maryland Governor Martin O’Malley, Maryland Court of Appeals Chief Judge Robert M. Bell and many other state, local and federal officials for several grand opening events for the new John and Frances Angelos Law Center, throughout the month of April.
Champion Adds 108-Unit Westerville Complex to Growing M-F Portfolio
Champion Property Management, a privately-held, fully-integrated, multi-family investment firm, announced last week its twelfth apartment community acquisition this year. A Champion-sponsored affiliate purchased Caleb’s Creek Apartments, a 108-unit apartment complex in Westerville, Ohio. The price of the transaction has not yet been disclosed.
Beachwood Hotel Rebranded as DoubleTree by Hilton
DoubleTree by Hilton and Twin Tier Hospitality, LLC announced last week they will reopen the Hilton Cleveland East Beachwood hotel as a DoubleTree by Hilton on March 11. The rebranding marks the pinnacle of a four-year hotel renovation.
$400M Horseshoe Casino Opens in Downtown Cincinnati
Ohio’s fourth and final full-service casino, the Horseshoe Casino Cincinnati, finally opened on Monday evening, March 4. Over 5,000 people witnessed the spectacular fireworks display.
Insight Prepares to Add TODs Valued at $153M to DC Area
Insight Property Group announced on Monday it recently started work on two major transit-oriented apartment projects in the Washington, DC area. The Arlington, Virginia-based multifamily developer also said it is nearing completion on a third project. The total cost of these three projects is $153 million.