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
JMR Plans Q2 Start for $38M Residential Project in Santee
Set to be built at the corner of Cuyamaca Street and Town Center Parkway, the 172-unit community would also offer residents close proximity to the San Diego River and the Santee Trolley Town Square shopping center. Additionally, the San Diego Trolley connects the area with San Diego State University, Old Town and downtown San Diego. A recently-completed 55-acre community park will provide service for the entire area with community space for picnics as well as baseball, soccer and football fields as well as tennis courts and playgrounds.
TM Equities Picks Up Henderson M-F Complex for $30M
A Henderson apartment complex recently traded hands in what is touted as the largest deal of its kind perfected in the Las Vegas Valley in 2013. TM Equities, a real estate investment company based in Salt Lake City that focuses its investments on residential properties with over 100 units, acquired the Adobe Ranch in Henderson for approximately $30 million. The transaction was made through an entity that is managed by the Utah-based company.
Multi Corporation Investing $950M in Turkish Retail Market
In preparation for the upcoming international real estate show (MIPIM), Multi Corporation has arranged a presentation including its ramped up investments in the Turkish retail market.
Marriott to Build Courtyard Hotel in Lima
Marriott International is set to expand its operations in the South American state of Peru with a brand new Courtyard by Marriott Hotel location in Lima, the country’s third largest city.
Embassy Suites Opening Marks Latest Milestone for $500M Fairbourne Station Makeover
Created and held under the wing of Hilton, the Embassy Suites brand is rapidly gaining popularity with its pre-opening recording the first “sold-out” moment during the time of the locally held Outdoor Retailers conference. The hotel’s guest amenity package features a fitness center, an indoor pool, laundry facilities accessible by all guests, 7,500 square feet of meeting space, made-to-order breakfast option and a daily event featuring snacks and drinks in the evening.
Hyatt to Take Over as Operator for L.A. Hotel Downtown as Hospitality Giant Continues L.A. Push
L.A. Hotel Downtown is a 491-key hospitality property in the central part of Los Angeles, and the move by Hyatt to take over as operator of the facility is part of a more aggressive stance the hotel operator has been enforcing in the greater Los Angeles area. It was recently revealed that Hyatt would be the new operator of the Century Plaza Hotel in Century City, another major hotel renovation project, covered here. Continue reading →
Pebblebrook Pays $113M for Embassy Suites San Diego
Pebblebrook Hotel Trust has recently announced the acquisition of one of San Diego’s most iconic hospitality properties. Embassy Suites San Diego Bay is now part of Pebblebrook’s portfolio after the completion of a $112.5 million-deal. The REIT is assuming a $66.8 million secured, non-recourse loan, with the balance of the purchase price being funded through available cash.
Skanska USA Commercial Development’s First Seattle Effort Holds Groundbreaking
Stone34 was designed to become a door opener for the Burke-Gilman Trail, and will serve a diverse population for the area. It features ground floor retail and four levels of office space totaling 129,000 square feet. 8,500 square feet of outdoor pedestrian area are included in the building plans. The ambiance will be secured through wide sidewalks, group seating, plaza spaces and bike rails designed by landscape architect Swift & Company. The ground floor spaces arranged by Skanska were an essential design feature for Stone34’s anchor tenant, Brooks Sports Inc.
Kilroy Snaps Up $170M Office Property in Booming South Lake Union
Located on an entire city block at 320 Westlake and 321 Terry Avenue North, the 320,399-squar foot office campus was built in 2007. It is set on a major transit line with other mass transit arterials located in the immediate vicinity of the facility. The two-building Westlake Terry has the advantage of LEED Gold certification from the United States Green Building Council, and is therefore a much sought-after type of office building.
City Creek Adds to Accolades With IPA Award for Top U.S. Retail Project
Developed by City Creek Reserve, Inc. and owned by Taubman, the Michigan-based retail property owner and management company, City Creek Center received the accolade destined for the Americas. The massive retail project also placed in the top three for “World’s Best Retail Development” competing with thousands of entries from around the world. Nominees from the Americas include projects from the U.S.A., Canada, Mexico, Central and South America, as well as the Caribbean.