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SARES-REGIS Multifamily Fund Acquires 156-Unit Value-Add Property in Denver
SARES-REGIS Multifamily Fund L.P. recently announced it has acquired Arabella, a 156-unit apartment community in Denver, Colorado, from Fairfield Properties.
Northmarq Capital LLC Arranges $29M in Financing for Two MF Properties
Bloomington, Minnesota-based Northmarq Capital LLC recently announced that Senior Vice President and Managing Director of the company’s Kansas City regional office, Greg Duvall, has arranged $29 million in financing for two multifamily properties: 302 Cabana Boulevard in Panama City, Florida and Waterford Place Apartments in Overland Park, Kansas.
DAMAC Launches $367M Luxury Hotel Living Project in Downtown Dubai
DAMAC Properties is developing a new $367-million luxury hotel living project in the Burj Area of Dubai.
Hyatt Place Chicago-South/University Medical Center Officialy Opens in Hyde Park
Hyatt Hotels Corporation and SMART Hotels/Olympia Chicago LLC, a joint venture of The Olympia Companies and SMART Hotels LLC, recently announced the opening of Hyatt Place Chicago-South/University Medical Center. After the opening of Hyatt Place Chicago/River North in June, the new hotel marks the brand’s second location in Chicago and becomes the first newly built hotel to open in Hyde Park in 50 years.
JMI Realty Acquires Hyatt Regency Denver Tech Center; FEMA Leases Office Space in Englewood
Chicago-based Hyatt Hotels Corporation recently announced that one of its affiliates has sold the Hyatt Regency Denver Tech Center to an affiliate of JMI Realty for around $60 million or $133,000 per key. As part of the deal, Hyatt has also entered into a franchise agreement with JMI Realty. Davidson Hotels & Resorts will manage the hotel for JMI Realty under the Hyatt Regency flag.
United Properties to Acquire Days Hotel Near University of Minnesota Campus
Minneapolis-based United Properties is set to acquire the Days Hotel after the privately-owned commercial real estate development and investment firm recently announced it has signed a purchase agreement with private REIT CRI Income. United Properties announced that a due diligence process, which is expected to take up to 90 days, is underway and although a closing date has not yet been set, it is anticipated to occur in late December or early January. The property had been listed for sale in June by Jon Ruzicka of Marcus & Millichap.
Clean Coal Technologies Starts Building Pilot Plant in LeFlore County
Clean Coal Technologies Inc. has recently announced that it has entered into the construction phase of its pilot plant project in LeFlore County, Oklahoma. The energy company utilizes patented technology to convert raw coal into a cleaner burning and more efficient fuel.
River City Casino Completes $82M Expansion and Unveils 200-Room Hotel
River City Casino & Hotel in South St. Louis County recently announced the completion of an $82 million expansion and held a grand opening ceremony for its new 200-room hotel. River City Casino & Hotel has completed an extensive two-year investment commitment to St. Louis County and the state of Missouri which created 350 construction jobs as well as 100 new permanent jobs.
IRET Properties Sells Five-Building Portfolio to Altus Properties
Investors Real Estate Trust recently announced that its operating partnership, IRET Properties, has closed on the sale of five commercial office and industrial properties from its portfolio.
Zurich North America to Acquire Land from Motorola Solutions and Develop New Headquarters in Schaumburg
Zurich North America recently announced it has signed a letter of intent with Motorola Solutions to acquire land for a new North American headquarters in Schaumburg.