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
Second Hyatt Opens at Cottonwood Corporate Center; Cornerstone Puts Hotel Monaco on the Block
The Cottonwood Corporate Center has received its second Hyatt-operated hotel facility after the company recently debuted its Hyatt Place Salt Lake City/Cottonwood. Sequoia Development is the company responsible for the venue The city’s position in an improving banking environment and a rising tech sector, as well as its proximity to some of the best ski resorts in the country are great incentives for the hospitality market and the developer, as well as Hyatt, were ready to move.
Firm Capital Acquires Stake in Montreal Industrial Portfolio
Firm Capital Property Trust is in contract to purchase 50 percent of a Montreal-area portfolio of 25 industrial buildings.
Brookwood Acquires Tech Ridge Business Park in San Antonio
The multi-tenant office property Tech Ridge Business Park has been acquired by Brookwood Financial Partners, LLC, a leading real estate company specialized in investment and asset management services. The new acquisition was built in 2002-2003 and is part of the Northwest submarket of San Antonio. It encompasses 118,769 square feet that form the two-building business park located between Loop 410 and Loop 1604, near Interstate 10.
Karlin Real Estate Sells GMC Building to Gladstone Commercial Corporation
One of the four national Innovation Centers of General Motors Company has changed owners. Los Angeles-based Karlin Real Estate has rolled over the property located at 717 E. Parmer Lane in North Austin to Gladstone Commercial Corp. for $57.5 million, reports Austin Business Journal. At the same time, Gladstone announced it placed a 10 year non-recourse loan through Cantor Commercial Real Estate that covers at least part of the acquisition amount.
Google Unveils New London HQ in King’s Cross Redevelopment
Tech giant Google has marked the real estate market during the past years with high-profile leases and property acquisitions in cities like New York, London and Dublin, always putting its creative, alternative stamp on the office space it took over.
Office Building Acquisition Confirms Interest in Silicon Valley Still High
Silicon Valley has been going from strength to strength over the past year as its office market has seen sustained growth. It doesn’t hurt that Apple is planning a massive spaceship-shaped HQ in Cupertino while the Googleplex in Mountain View is already a staple of the region. Now a new deal is set to catch the attention of investors as Grosvenor Americas has sealed a deal making it the new owner of a San Jose office building. Century Plaza II was bought from German company Deka Immobilien, represented in the transaction by Savills LLC, for an undisclosed amount.
OliverMcMillan Sells Trio of East Village M-F Properties for $142M
A unique trio of properties traded hands in one of the most intriguing deals in recent memory on the San Diego real estate market. Developer OliverMcMillan has sold its The Lofts Portfolio in the East Village to three newly created entities dubbed The Lofts at 655 Apartment Holdings LLC, The Lofts at 677 Apartment Holdings LLC and The Lofts at 707 Apartment Holdings LLC. The transaction was arranged by three CBRE representatives: Kevin Mulhern, Rachel Parsons and Dixie Hall. Financial terms of the deal were not disclosed.
Albuquerque’s Convention Center Completes Phase I of $20M Renovation
The 40 year old convention center in Albuquerque is half way through its $20 million restoration. According to Albuquerque Business First, last Tuesday the city hosted an event to mark the finalization of Phase I of the redevelopment.
Koontz McCombs Announces CityVista Development in San Antonio
CityVista, a new Class A community of 141 units will break ground in July on one of the last lots available in the magnificent 281/Hildebrand Area, Koontz McCombs announced in a release. The estimated cost for the project is $20 million and the completion date is set for December 2014.
Friedman Recycling Opens $21M Facility in Albuquerque
The fruitful collaboration between Mayor Richard J. Berry and Friedman Recycling has led to a successful result – the opening of the single stream materials recovery facility in Albuquerque. “This new facility is a symbol of our commitment to recycling and forever changes the way Albuquerque recycles,” Mayor Berry said. The new facility not only demonstrates care for the city and the environment, but also for the economy as it brings with it 35 new jobs that over time will grow to 75.