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
ABoR Completes Plans for New Headquarters
The almost 9,000 members of the Austin Board of REALTORS® (ABoR) have a new headquarter to look at in the future. ABoR announced the plans to start the construction of a facility that will entail approximately 33,000 square feet displayed on 5.2 acres.
Condos Priced from $140K-$360K Come to Market after Project Completion
Back in 2007 when the housing bubble had not yet burst, condominiums sprang up all across the country. That was the time when it was quite common for a land developer to be sued by his business partners because he had bankrupted several companies, dealing with accusations of defrauding the city to tune millions for past projects. That was the case for developer Vincent Garcia who back then was riding high on a nine-story mixed-use project, in downtown Albuquerque.
Abandoned Peanut Factory to Be Transformed into Residential Complex
Not far from San Antonio’s urban core sits an abandoned peanut factory; previously here was a peanut processing and storage warehouse facility. At the beginning of next year it will be transformed into Peanut Factory Lofts, a 90-unit apartment and townhome complex with the help of civil engineering firm Big Red Dog.
$30 Million Office Development Broke Ground at Fifth Street and Congress Avenue
At 501 Congress Avenue, where the former annex of the Bank of America used to be, recently broke ground a $30 million office development. Stream Realty Partners purchased the site back in April in a partnership with four other firms.
Los Angeles Area Residential Properties Secure Loan Deals
Top financing firm Johnson Capital recently announced that it has provided deals for a seven-property multifamily portfolio, including mobile home parks, a few of which are located around Los Angeles. The national real estate capital advisory firm recently released a statement pointing out the fact that a total of $174 million had been arranged for the properties by representatives from its Phoenix, AZ office. Dave Susank and Neal Churney are the two Johnson employees handling the financing deals.
Albuquerque’s Rock Climbing Gym to Expand to 23,000 Sq. Ft. after Relocation, $4M Renovation
New Mexico’s largest indoor rock climbing gym is soon to become the largest one in the Southwest. A $4 million renovation commenced for Albuquerque’s Stone Age Climbing Gym that relocates to the former Spa & Billiard World store at 4130 Cutler Ave. NE, just off of Interstate 40 and Carlisle.
Third Tower at Marriott’s Grand Chateau Tops Out; Court Approves Harmon Tower Demolition
One of Las Vegas’ most high-profile luxury developments of the year is undoubtedly Marriott’s Grand Chateau project. The three-tower complex that would offer residents a wide range of amenities and villa-style accommodations has only recently reached an important milestone. The general contractor of the project, the Tutor Perini Building Corporation, has topped-out the third tower of the complex, a mere 13 months after breaking ground at the site. The third tower of Marriot Vacation Club’s ambitious project will complete the overall appeal of the development, complementing the other towers that comprise the Grand Chateau.
Hines-Managed Coca-Cola Building in Rio de Janeiro Receives Brazil’s First LEED-EB Silver Certification
The 19-story office building that has housed the soft drink manufacturer’s Brazilian administrative HQ, since 2003 has become the first building in the country to obtain LEED-EB Silver certification.
San Antonio’s Waters at Northern Hills for Sale for $13.1M
The arranged sale of the 304-unit apartment complex located at 4031 Thousand Oaks Drive attracted the investment community of the area. Marcus and Millichap represented the seller, a 501c-3 nonprofit company, through Will Balthrope, senior vice president investments in Dallas, and Scott Lamontagne, vice president investments in Austin, both with Institutional Property Advisors, a division of the investment firm, and Zar Haro and Michael Moffitt, senior associates in Marcus & Millichap’s San Antonio and Austin offices, respectively.
Van Zandt Hotel Breaks Ground in Austin
Austin’s Rainey District has a new construction site at Red River and Davis Streets. Previously expected to break ground in June, Hotel Van Zandt is being developed by JMI Realty and will be operated by San Francisco’s Kimpton Hotels, a company specialized in chic boutique hotels. Completion date is set for 2015.