Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
INTERNATIONAL: Madison International Acquires 50% Stake in London Office Complex
Madison International Realty has grabbed a 50 percent ownership stake in The Houndsditch Estate, in London, from TIAA Henderson Real Estate.
BKM Capital Partners Buys 2 Industrial Properties for $27.5M
Industrial space in the greater Las Vegas is clearly on the rise, with a number of investors lining up development projects and acquisitions in the sector. BKM Capital Partners is the latest investor to announce a move in the market, having acquired two multi-tenant assets for a total of $27.5 million. The two properties are the company’s fourth and fifth ventures, following purchases in the Phoenix and Portland markets. Cheyenne Technology Center and Wind River Industrial Complex are the second and third properties acquired by BKM in the Las Vegas market.
Meridian Gets HREI Insights Awards Nomination for Renovation Project in Walnut Creek
Full service real estate developer and medical real estate company Meridian recently announced that one of its projects was recently selected as a finalist in the 2014 HREI Insights Awards in the “Best Renovated or Repurposed Healthcare Facility” category. Healthcare Real Estate Insights is a national magazine that covers health care real estate development, financing, and investment. The nomination is part of the second annual HREI Insights Awards, currently the only event of its kind, dedicated to the healthcare real estate development. Meridian’s project is a single-level property that was redeveloped from a former post office.
Rockspring Capital Acquired Land Parcel in Leander
Located northwest of Austin, Leander is seeing an increased development activity thanks to the flourishing business segment in Austin. This attracted Houston-based Rockspring Capital, a privately-owned real estate investment firm, to acquire a 28.44-acre land parcel. The price of the transaction has not been disclosed.
The Peanut Factory Lofts to Start Leasing
The Peanut Factory Lofts, located at 939 S. Frio has completed the conversion process. The original Peanut Factory, built in 1912, turned into residential units utilizing the 4 sixty-foot tall silos. The redevelopment includes apartments, condos, two courtyards, outdoor pool with cabana, and an outdoor theater area, utilizing the 130,000-square-foot site. In total, there are 102 residential units.
Gibson Rising to Welcome Chili’s and Chick-fil-A
Gibson Rising is a new 4.5-acre development located on Gibson Boulevard at the southeast corner of the Gibson/University intersection. The property will house two national retail chains, Chili’s and Chick-fil-A. A third restaurant will follow after signing the lease.
The Westin Austin Downtown Hotel Celebrates the Completion of Structural Construction
The Westin Austin Downtown Hotel that broke ground on August 5th has recently celebrated the completion of its structural construction. The 20-story, 366-room hotel located on the northeast corner of East Fifth Street and San Jacinto Boulevard is scheduled to be finalized by June 2015.
Connell Canyon Ridge Sells The Estates at Canyon Ridge in San Antonio
The Estates at Canyon Ridge in the Stone Oak master-planned community in North Central San Antonio has changed owners. The seller was New Jersey-based Connell Canyon Ridge, LLC, represented in the transaction by CBRE Capital Markets. California-based FSC Realty purchased the multifamily asset; details about the sale are undisclosed.
Pebblebrook Acquires The Hotel Palomar on Wilshire Boulevard in $78.7 Million Deal
The Pebblebrook Hotel Trust recently announced the acquisition of a Los Angeles-area hospitality venue, expanding its SoCal upper upscale hotel portfolio. According to a recently issued press statement, the buyer paid a fee of $78.7 million for the Hotel Palomar Los Angeles – Westwood. The property is the 33rd to be added to the Pebblebrook Hotel Trust, and the fifth investment completed by the company in the city of Los Angeles.
Cypress Equities’ Ambitious Redevelopment Project Market Street Place Breaks Ground
One of the most interesting urban redevelopment projects in San Francisco has finally broken ground. Aiming to redevelop the area on Market Street between 5th and 6th Streets, Cypress Equities’ Market Street Place is set to become a multi-level retail center that will offer a new hub for shoppers in the area. With the project finally in the construction phase, the development is currently set for an opening in the fall of 2016.