Liviu Oltean
Ashford Hospitality Trust Buys Memphis Marriott East Hotel for $43.5M
By Liviu Oltean, Associate Editor Ashford Hospitality Trust Inc. signed a definitive agreement to purchase the 232-room Memphis Marriott East Hotel for $43.5 million or $187,500 per room. According to an official statement, the acquisition price represents a trailing 12-month cap rate of 7.6 percent on net operating income. “This transaction was particularly attractive given […]
ConAm Buys New Phoenix M-F Asset
By Liviu Oltean, Associate Editor ConAm Group of Cos. has increased its Greater Phoenix footprint with its $33 million acquisition of the Pointe at South Mountain, a 364-unit luxury apartment community. Located at 8809 S.Pointe Parkway East, the property represents ConAm Group’s tenth Phoenix multifamily acquisition. The Pointe at South Mountain features units with spacious […]
Trammell Crow Residential, Bluerock to Develop Luxury Apartments Near Texas Medical Center
Trammell Crow Residential (TCR) and Bluerock Residential Growth REIT have joined forces for the development of a new, 269-unit apartment community in Houston. Dubbed Alexan Blaire House, the luxury community will be developed on a 4.2-acre tract just two miles from the renowned Texas Medical Center.
IKEA Seeks Approval for 260K SF Store in Memphis
IKEA is on the brink of increasing its southeastern US presence seeing as it has recently unveiled tentative plans for the development of a new, 260,000-square-foot store in Memphis. Contingent on receiving all governmental approvals, the store could open as early as Fall 2016.
GoldOller Picks North Houston Luxury Community for First Texas Buy
GoldOller Real Estate Investments, a Philadelphia-based owner and operator of apartment communities, recently entered the Texas market with the acquisition of the Trails at Dominion Park for $52.5 million. The 843-unit, luxury apartment complex is located on a 50-acre tract in North Houston, along the I-45 corridor.
New Westin Hotel to Anchor Iconic One Main Place Building
Starwood Hotels & Resorts Worldwide and New Orleans-based KFK Group (KFK) recently made public plans to open a new, 323-key Westin hotel in the iconic One Main Place building. The hotel is part of an adaptive re-use project that will add hospitality and retail components to the iconic office building.
ARC Healthcare Buys Paradise Valley Medical Plaza for $28M
New York-based American Realty Capital Healthcare Trust recently acquired the Paradise Valley Medical Plaza in Phoenix for $28.3 million.
Transwestern Tapped to Lease New Medical/Office Project in Cypress
The Houston office of Transwestern recently made public that it will be handling the leasing of Cypress Creek Lakes, a 29,000-square-foot medical and office development.
Berkshire Group Picks Up 325-Unit Aura Medical District in Dallas
Berkshire Group, a Boston-based real estate investment management company, just expanded its footprint in Dallas through the acquisition of Aura Medical District, a newly constructed, 325-unit apartment community.
Berkadia Secures $40.3M in Financing for Houston, Southwest Fort Worth Acquisitions
The Austin office of Berkadia recently announced that it has helped secure a total of $40.3 million in financing for the acquisition of Thornbury Apartments in Houston and for The Retreat at River Ranch Apartments in Southwest Fort Worth.