Adrian Maties
Record of Decision Makes Baltimore Red Line Eligible for Future Federal Funds
Governor Martin O’Malley has announced on March 5 the Baltimore Red Line has received federal environmental approval. The Federal Transit Administration’s approval is called a record of decision. It makes the project eligible for future federal funding.
Gold Key/PHR, Norfolk Strike Deal for $126M Hotel, Convention Center Complex
The city of Norfolk has announced last Friday it has reached an agreement with Gold Key/PHR Hotels & Resorts to build a new hotel, conference center and parking facility downtown. The total cost of the project is estimated at $126 million.
Lakewood Center North Sells for $3.4M
Lakewood Center North, the tallest office building in Cleveland’s second largest suburb, was purchased by a local investor group led by commercial real estate broker and investor Brad Kowit. According to Cuyahoga County records, the price of the transaction was $3.4 million.
The Christ Hospital to Open New Outpatient Center in Montgomery
The Christ Hospital Health Network officially announced on Thursday, February 28, it is expanding in Montgomery with a new, three-story outpatient center. Construction will begin this spring with completion expected in late 2014.
Renaissance Washington Completes $30M Hotel Renovation Project
The Renaissance Washington, DC Downtown Hotel, has finished a $30 million renovation project of its rooms and suites. Renaissance Hotels is a lifestyle brand within the Marriott International, Inc.
Morgan Properties and Dune Buy Glen Burnie’s 796-Unit Chesapeake Glen Apartments
Morgan Properties of King of Prussia, Pa., and Dune Real Estate Partners LP of New York have teamed up to acquire the Chesapeake Glen Apartments community in Glen Burnie, Md., from Equity Residential. The cost of the transaction has not yet been disclosed. HFF represented the seller.
Welsh Buys 2 Warehouses in Groveport, Obetz as Part of $100M, 2.7 MSF Deal
Minnesota-based Welsh Property Trust has purchased two industrial properties in central Ohio. They are both part of the Core Midwest Distribution Portfolio, a five-building portfolio acquired by Welsh Property Trust for $99.5 million. The other buildings are located in Chicago, Indianapolis and Cincinnati.
University Hospitals to Start Two New Construction Projects in Cleveland Area
University Hospitals is busy at work in the greater Cleveland area. It plans to bring a medical office building and a full service outpatient center to Euclid and Solon respectively.
Carespring Breaks Ground on $24M Transitional Care Center in Northern Kentucky
Carespring Health Care Management broke ground on Monday, February 18, on a new transitional care facility in Cold Spring, Kentucky. Governor Steve Beshear, State Representative Dennis Keene and Judge-Executive Steve Pendery attended the ground breaking ceremony held at 300 Plaza Drive along with other elected officials and business representatives.
Washington REIT Hires Cassidy Turley to Sell Region’s Largest Institutional-Quality Medical Office Portfolio
The Washington Real Estate Investment Trust (WRIT) has recently selected Cassidy Turley to sell its 1.3 million square foot medical office portfolio in the Washington, D.C. region. The Cassidy Turley team that will market the portfolio is formed of Paul Collins, Bill Collins, Jud Ryan, Drew Flood and James Cassidy. J.P. Morgan will be co-agent.