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
Canyon Gate Takes on Four New Communities in the Past Five Months
An Associa company, Canyon Gate added to its community management portfolio three more communities since August; a fourth one will be joining in December. Canyon Gate will provide to all of them the full array of management services, including financial, community management, communications, record-keeping, and administrative services.
World’s Largest Candlewood Suites Celebrates Grand Opening
The “largest Candlewood Suites hotel in the world” is officially open. Cleveland Construction, Inc., the general contractor, and Lend Lease, the construction manager, recently celebrated the grand opening of the new hotel located at Fort Sam Houston in San Antonio. The hotel development is part of the Privatization of Army Lodging (PAL) program, an Army-led program meant to revitalize on-post lodging facilities for soldiers, their families and all government travelers.
Woodinville Industrial Property Acquired in $30M Transaction
A Class A five-building industrial asset recently traded hands in the Pacific Northwest as a sovereign wealth fund that is advised by KBS Realty Advisors paid around $30 million for a property in the Eastside industrial market. The Park at Woodinville is a warehouse and light-manufacturing infill project that was sold by Colony Realty Partners. The deal was arranged on behalf of the seller by Rick Putnam and Tom Abbott of Colliers International.
HFF and Johnson Capital Arrange Financing for Two Los Angeles Area Commercial Properties
Two commercial properties in the Los Angeles area have received financing this week, with a total of approximately $18 million in financing raised for the two assets. HFF worked on behalf of the owners of a class A specialty center in Brentwood, while a Johnson Capital team secured funds for a Pasadena retail center.
Oden Hughes Begins Second Phase of Construction on Two South Austin Communities
Oden Hughes, an Austin-based multifamily developer, broke ground on the second phases of two communities in south Austin: Landmark Southpark and Landmark Double Creek. In total, 561 new apartments will be brought on the market.
Kilroy Realty Corp. Plans $45M Office Project in Del Mar Heights
After being acquired by Kilroy Realty Corporation in 2013, The Heights at Del Mar is now set to be expanded. The new owner recently issued a statement announcing that it is developing a brand new, speculative office project in an office submarket of San Diego that has not seen a new property be built in eight years. The $45 million investment will be the third asset part of The Heights at Del Mar office complex. A formal groundbreaking at the property was held earlier this month at the site, with completion set for Q4 of 2015.
LaSalle and Panattoni Plan Industrial Project in Southwest Las Vegas
Las Vegas has seen the announcement of a number of industrial projects for the area during recent months, and a newly-completed land deal promises yet another increase in the total space the city will be able to offer tenants in just a few years.
Developers Release Renderings of California College of the Arts Affordable Student Housing Project
California College of the Arts recently released renderings for one of the most interesting student housing projects in the entire state of California. The university’s in-development Panoramic Residences is an affordable student housing development on which CCA has partnered with Panoramic Interests. The project is taking shape in San Francisco’s SoMa district, in the vicinity of Twitter’s current HQ, as well as the upscale apartment complex known as Nema. The property is on track for an official opening in the fall of next year.
DeAngelis Diamond Healthcare Announces $10M Treatment Center in Albuquerque
The Naples, Florida-based DeAngelis Diamond Healthcare Group, LLC has announced the development of a new residential treatment center in Albuquerque for Acadia Healthcare. The construction of the facility will be divided into two phases.
Iconic 801 Tower Ends Long Run of Changes as New Owner Cornerstone Appoints New Property Manager
After recently trading hands between seller Mani Brothers Real Estate Group and buyer Cornerstone Real Estate Advisors for a fee of around $177 million, the 801 Tower now also has a new property manager. The iconic office property will be managed by Transwestern, with the company being newly-appointed by owner Cornerstone. Transwestern’s on-site management team will be led by Senior Property Manager Annie Hessen.