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
Cypress Set to Break Ground in September on Gensler-Designed Market Street Place
Redevelopment is sometimes the best chance a forgotten city block has at resurgence. That’s exactly what Cypress Equities has planned for its Mid-Market San Francisco project, located on Market Street between 5th and 6th. Cypress recently announced that it has decided that it will hold an official ground breaking for the $150-million development project this September.
Accor’s HotelInvest Acquires 2 Hotel Portfolios for $1.2B
Accor’s HotelInvest business is adding two real estate portfolios, having agreements to purchase a total of 97 hotels for a combined fee of $1.2 billion.
Historic Wilkins-Heath House Listed For Sale at $1.35 Million
The house located at 1208 Newning Avenue in Austin’s Fairview Park subdivision is on sale for $1.35 million, down from $1.5 million. The building is a City of Austin Historic Landmark for its perfect representation of a Victorian era Queen Anne Cottage.
Koontz McCombs Sells Encino Trace Office Park to Brandywine Realty Trust
Encino Trace, the office park project located in southwest Austin at 5707 Southwest Parkway, has been sold by San Antonio-based developer Koontz McCombs to Brandywine Realty Trust. Details about the transaction remain undisclosed.
Pebblebrook Hotel Trust Expands in San Francisco with the $49 Million Purchase of The Prescott Hotel
As the Californian hospitality market continues on its upswing, a brand new hotel deal was perfected this week. Pebblebrook Hotel Trust recently purchased the Prescott Hotel in San Francisco for a total fee of $49 million. The new owner has also announced that the hotel will continue to be managed by operator Kimpton Hotels & Restaurants.
Work to Begin on $80M Expansion of Presbyterian Rust Medical Center
Expansion works have been scheduled for the Presbyterian Rust Medical Center in Rio Rancho. Construction has started and will materialize into a new patient tower and a cancer center at 2400 Unser Blvd. SE.
HMC Opens Wyndham Microtel Inn & Suites
The Eagle Ford Shale oil and gas development is a powerful magnet for different kinds of businesses. Hospitality Management Corporation (HMC) recently announced the opening of a newly built Microtel Inn & Suites by Wyndham in Kenedy, TX, just one hour south of San Antonio.
Phase III of The Preserve at Mayfield Ranch Completed
The gated garden home community which only two months ago was entering Phase III of development – The Preserve at Mayfield Ranch – has completed construction and announced the Grand Opening event for the weekend of May 24th and 25th. David Blackburn, President of award-winning developer Blackburn Communities, announced special incentives for the final phase of the project.
The Wolff Company Develops Mixed-Use Community in L.A.’s South Park District
A new community is nearing its official groundbreaking, with The Wolff Company currently set to start work on its latest mixed-use project. Poised to take shape in downtown Los Angeles, the 12th & Olive development is a $54 million project on which developer The Wolff Company is working with TCA Architects and Bernards.
DoubleTree by Hilton Newark-Fremont Opens as Area between Oakland and Silicon Valley Continues to Grow
Over the past couple of weeks, the city of Newark, Calif. has been making waves with the amount of real estate activity it has going for it. After the recently-announced expansion of one of the city’s largest shopping spots, now news of a new DoubleTree by Hilton has surfaced. Hilton Worldwide and Double Tree by Hilton are officially opening the new DoubleTree by Hilton Newark-Fremont in the area between Oakland, Calif. and San Jose, Calif.