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Twin Cities’ Residential Construction Continues Growth Trend
Twin Cities’ residential construction is increasing according to recent data compiled by the Keystone Report for the Builders Association of the Twin Cities.
Hines to Develop 54-Story M-U Project in Shanghai
Hines has won the bid for a site in Shanghai’s Jing An business district, to develop a 54-story mixed-use project on a 193,034-square-foot parcel.
Hyatt to Partner with Playa Hotels & Resorts, Add All-Inclusive Resorts to Portfolio
A wholly owned Hyatt subsidiary intends to form a partnership agreement with Playa Hotels & Resorts B.V. and enter the all-inclusive resort segment.
Resource Real Estate’s REIT Enters Agreement to Acquire Another REIT’s Portfolio for $52.7M
Resource Real Estate Opportunity REIT, a non-traded real estate investment trust sponsored by Resource Real Estate Inc. has recently announced that it has entered into an agreement and plan of merger to acquire Paladin Realty Income Properties L.P.
RES Americas to Develop 200 MW Pleasant Valley Wind Farm for Xcel Energy
RES America Developments Inc., recently announced it has partnered up with Xcel Energy to build the 200 megawatt Pleasant Valley Wind Farm. Located near Austin, Minnesota, adjacent to the Grand Meadow wind project owned by Xcel Energy, Pleasant Valley Wind Farm is part of 600 megawatts of wind power recently announced by Xcel Energy in the Upper Midwest service territory.
RES Americas, Arkansas Electric Strike Deal for Murray and Carter Counties Wind Project
Renewable Energy Systems Americas Inc. has recently announced that its subsidiary RES America Developments Inc. has reached a long-term agreement to sell 150 megawatts of wind energy to Arkansas Electric Cooperative Corporation.
Public-Private Partnerships Sought to Invest in Gary/Chicago International Airport and Surrounding Areas
The City of Gary and the board of directors of the Gary/Chicago International Airport Authority recently approved and released a request for proposals for the development and management of the Gary Chicago International Airport and related assets. The proposals to invest in the airport and the surrounding area through a public-private partnership are awaited until 5 P.M. August 26, 2013.
Milestone Apartments REIT to Acquire 358-Unit Canyon Chase Apartment Community
Milestone Apartments REIT recently announced it has entered into an agreement to acquire the 358-unit Canyon Chase apartment community. Located in the Westminster submarket of Denver, Colorado, the garden style multifamily apartment community was built in 1986. The Toronto-based REIT acquired the property for a purchase price of $40.5 million, represented an estimated initial capitalization rate of 6.55 percent and the transaction is expected to be immediately accretive to the REIT’s AFFO per unit.
Stream Data Centers Announces Plans to Build New Private Data Center in Chaska
Texas-based developer and operator of wholesale data centers, Stream Data Centers, recently announced plans to open its 16th facility in the U.S. and its first enterprise data center in Chaska, Minnesota.
Promise Hotels Acquires Hyatt Place Tulsa Southern Hills
Locally-owned Promise Hotels recently announced the acquisition of the Hyatt Place Tulsa Southern Hills for an undisclosed purchase price. Built in 1996, the 126-room hotel is located at 7037 South Zurich Avenue in the South Tulsa Medical District.