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
Geltmore’s $20M Mixed-Use Project in Downtown Albuquerque to Receive Tax Credit
Albuquerque-based family-owned real estate firm, Geltmore LLC, has scheduled to start construction by the end of the year on a mixed-use development at 205 Silver Avenue SW, between Second and Third Streets; the project consists of a grocery store of 12,000 square feet and 74 residential units.
ALTO Real Estate Funds Completes Moreno Valley Retail Acquisition to Start New Investment Fund
ALTO Real Estate Funds has started its second investment vehicle in the American market with a retail purchase in Moreno Valley, CA. The New York-based private equity real estate investment company has closed on the purchase of the TownGate Center for a fee of $47.2 million. The property will be the first to be part of the new ALTO FUND 2, the investment vehicle registered in the state of Delaware and has a target investment value of $100 million.
Capital Square Realty Buys CVS Store in the Heart of Strip’s Development Boom
The appeal of the country’s second largest pharmacy chain was visible recently when Capital Square Realty Advisors, LLC announced that a company affiliate completed the purchase of a CVS retail facility located on the famous Las Vegas Strip. With the property’s surroundings going through extensive modifications, the move is relevant to the current intensity of the Strip’s real estate market.
New Housing Facility Breaks Ground at Cornish College of Arts Campus
Construction has begun on a new facility that will serve the Cornish College of the Arts in Seattle recently. The development team headed by Capstone Development Partners held a groundbreaking ceremony at the Residence Hall and Learning Center at 2025 Terry Avenue.
Embrey Partners Opens Escape at Four Points in West Austin
Founded in 1974, San Antonio-based Embrey Partners has developed more than 31,000 apartments and six million square feet of commercial space. Recently they’ve announced the grand opening of their latest residential project, Escape at Four Points, in west Austin, Texas.
Owner of La Posada Purchases Newly Renovated La Castaneda Hotel
Some rescue animals, other choose to rescue pieces of history. One such person is Allan Affeldt, famous for the spectacular renovation of one of the historic Harvey House hotels – La Posada in Arizona; recently he announced the sale closing of historic Castaneda Hotel, another gem built by renowned immigrant Fred Harvey.
San Antonio’s Shavano Centre III Listed For Sale Through Marcus & Millichap
Marcus & Millichap recently announced they’ve been chosen by a San Antonio developer to market for sale the office building known as Shavano Center III. Scott Ryan, an associate vice president investment is responsible with the transaction. The listing’s price is $12.5 million, $197 per square foot.
Hyatt Place Austin Downtown Purchased by Carey Watermark Investors for $87 Million
Hyatt Place Austin Downtown, the 296-room upscale select-service hotel located at 211 East 3rd Street was recently acquired by non-traded REIT Carey Watermark Investors. The hotel was ranked best in its category for the second year in a row by Business Travel News 2013 Hotel Chain Survey, and received the “Highest in Guest Satisfaction Among Upscale Hotel Chains” recognition by J.D. Power in 2013.
Albuquerque Opens Public Comment Period for Apartment Development on Uptown Transit Site
The southeast corner of Albuquerque’s Uptown and American Parkway NE, the location of Uptown Transit Center, is this year in the attention of city officials interested in proposals from private developers for a new construction project. The desired development would be a mixed-use combining apartments, commercial space, and parking.
CBRE to Sell Upscale Hotel in Midland Ireland
The Heritage Hotel, just an hour outside of Dublin, is being put up for sale by its current owner, and CBRE Hotels will be carrying out the transaction.