Adrian Maties
Apartment Complexes in Tightening Baton Rouge Market Change Hands for $1.04M, $800K
With Baton Rouge-area apartment vacancies declining to levels slightly lower than historical norms, it’s no surprise why investors are rushing to buy apartment complexes. According to the Greater Baton Rouge Business Report, two such properties have changed hands in the region in the past 30 days.
Core/Bainbridge JV Buys Virginia Beach Apartment Complex
The Woodshire Apartments in Virginia Beach is now under new ownership. Core Real Estate Capital has purchased the apartment community in partnership with the Bainbridge Companies, at the end of 2014. The price of the transaction was not disclosed.
Enterprise Homes and SunTrust Bank to Renovate Frederick’s Taney Village Apartments
Enterprise Homes and SunTrust Bank announced on Monday their plans to renovate the Taney Village Apartments, in Frederick. The project is expected to cost $24.6 million. It will help preserve the property, which is an important source of affordable housing for seniors in the area.
DTZ Brokers Industrial Deals in Greater Baltimore
DTZ, the new owner of Cassidy Turley, has started 2015 in full force. Since the beginning of the year, the company has completed several leases, totaling more than 150,000 square feet of industrial space, in the Baltimore Washington Corridor.
Schneider Plans High-End Project in Madisonville
In its National Apartment Market Report for 2015, Marcus & Millichap said that household creation in Cincinnati will accelerate this year, as some of the metro’s Fortune 500 companies expand, thus creating demand for rental housing. One new project has already been announced.
UD, Concord Hospitality Buy Dayton Marriott
Last month, the University of Dayton announced that, together with Raleigh, N.C.-based Concord Hospitality, it has acquired the Dayton Marriott Hotel at the western gateway of its campus. The purchase price was $18.5 million. UD and Concord will jointly own the property.
Fuyao To Put $130M More in New Moraine Plant
Fuyao Glass America Inc. plans to invest even more money in Ohio and add even more jobs. The company recently announced it has selected Moraine for its North American after-market automotive glass manufacturing. At the moment, all of Fuyao’s after-market glass production is located in China.
Pinnacle Development Investors to Develop Unique Luxury Residential Tower In Baltimore
Pinnacle Development Investors LLS plans to start work on a new, ultra-luxury residential tower within Baltimore’s HarborView Community. Called The Pinnacle, the project is unlike other residential developments, because the unit owners are also investors and developers.
Finmarc Management Sells Elkridge Warehouse Building for $12.5M
Finmarc Management, Inc., in partnership with Kodiak Properties, LLC, sold an Elkridge warehouse and distribution building last month, to Denver-based DCT Industrial Trust. The price of the transaction was $12.5 million.
Cleveland Browns Continue with Phase II of Renovations at FirstEnergy Stadium
Last Wednesday, the Cleveland Browns released more details about the second phase of the FirstEnergy Stadium Modernization Project. It is the final phase of a $125 million makeover, expected to improve the fan experience and also help the team win as many games as possible.