Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Record-Breaking Land Deal Completed in Central L.A., Set to Become the Site of New LEED-Certified Industrial Complex
The Los Angeles real estate market recorded a milestone recently as the largest land deal in over a decade in the central area of the city was completed when Pacific Industrial, LLC acquired a large plot of land from the City of Bell. The purchase was announced by the local office of commercial real estate services provider, CBRE.
Hilton Opens Home2 Suites Extended-Stay Hotel in South Jordan
As 2013 draws to a close, Salt Lake City is gearing up for a good year, with reports projecting the city’s residential market as one of the fastest rising in the entire U.S. However the end of the year has seen one of the more low-key sectors of the area’s real estate market finish on a high note as Hilton announced the opening of its Home2Suites by Hilton Salt Lake City/South Jordan. The facility is under the ownership of South Jordan Hotel Ownership, LLC, with management duties handled by Widewaters Hotels LLC.
Greystone Lines Up Its First Multifamily Project in Miami Market, Near Miracle Mile
A new company is set to try the water in Miami as Greystone has lined up its first multifamily project for the area’s market. The financial services and private investment group has acquired a development site in one of the most sought after areas of Miami, Miracle Mile. Greystone is part of a joint venture that also includes local company Alta Developers and Strategic Properties.
Holland Partners Closes $80M Property Acquisition in South Lake Union, with Plans for M-U Development
The approved rezoning of South Lake Union, one of the most popular development areas in the much improved city of Seattle, is already paying off. The Puget Sound Business Journal recently reported that Holland Partners, one of the most active development companies in the local market, recently completed the acquisition of a number of properties in the area, and is now eyeing a mixed-use development project for the area. The acquired area was previously targeted as a development site by Equity Office Property. Holland paid a total of $79.5 million for almost a block between Dexter Ave. and Westlake Ave.
Los Angeles Hotels Trade Hands to Chinese Investors
Southern California seems to be the perfect hospitality market for Chinese investors as two recent hotel deals were made by different companies entering the city’s real estate market. Chinese real estate developer Hazens Investment completed the acquisition of the Sheraton Gateway Los Angeles Hotel for a fee of $96 million, while earlier this month the Torrance Marriott South Bay was acquired by the Sichuan Xinglida Group Enterprises Co. for $74 million.
Orem Approves Mixed-Use Plan for University Mall; State Weighs Relocating Utah State Prison in Draper
As Utah has seen its profile as a tech market become more and more of a draw, local authorities are trying to make sure that they facilitate the creation of the proper environment to make more growth possible. Now, as the state’s job market is one of the healthiest in the entire country, and Salt Lake City, the largest city in Utah, is set to have one of the best office markets in 2014, policies are being drawn up to attract further interest to the area’s tech market. However, a major hurdle is in the way of one of the most important development areas for SLC’s tech market, the Standard-Examiner writes.
Henderson’s $1.6B Union Village Wins Hospital Commitment from Valley Health
For a while now, a massive health care-centric development has caught the attention of media outlets as the ambitious project aimed to create a new community in Henderson, relying mainly on a number of facilities aimed at providing quality health care for the region. Union Village is set to cost a total of $1.6 billion dollars, to be developed by master planner Union Village LLC over a number of years. Now, Valley Health System has expressed serious interest in being taking over the centerpiece of the community, the acute-care hospital that will act as the anchor tenant for the village.
Hines REIT Agrees to Purchase the Howard Hughes Center from Blackstone Group
With 2013 all but over, the Los Angeles real estate market looks set to end the year with a huge headliner as one of the largest office asset acquisitions that the city has seen this year is set to take place. The media has been buzzing over the past week with news that Hines Real Estate Investment Trust Inc. has agreed to purchase the Howard Hughes Center from current owner Blackstone Group LP for a fee of $506 million.
Hines REIT Agrees to Purchase the Howard Hughes Center from Blackstone Group
With 2013 all but over, the Los Angeles real estate market looks set to end the year with a huge headliner as one of the largest office asset acquisitions that the city has seen this year is set to take place. The media has been buzzing over the past week with news that Hines Real Estate Investment Trust Inc. has agreed to purchase the Howard Hughes Center from current owner Blackstone Group LP for a fee of $506 million.
Othello Partners Awaits Design Review on New Rainier Valley Residential Project
Local developer Othello Partners is once again looking to develop a residential complex, in the vicinity of another high-profile project that the company debuted two years ago. Station at Othello Park was in itself an ambitious project, announced and developed in a time of uncertainty for the national residential market. Now the company will follow the Station with its new, Othello Station North.