the Editors of Commercial Property Executive
Chatham Lodging Trust to Acquire Pittsburgh Hyatt Place for $40M
Chatham Lodging Trust has agreed to purchase the 178-room Hyatt Place Pittsburgh/North Shore near downtown Pittsburgh for $40 million. Scheduled for completion by June 17, the transaction is subject to customary closing requirements and conditions.
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Erwin Square Plaza in Downtown Durham Changes Hands
In a $37.5 million deal, Federal Capital Partners of Maryland has acquired the 10-story Erwin Square Plaza office building in downtown Durham from National Asset Services, Inc. of Los Angeles. Ben Kilgore at CBRE represented the seller in the transaction.
First Hyatt House Hotel in Pittsburgh Now Open
Hyatt Hotels Corporation, Concord Hospitality Enterprises and Oxford Development Company have recently celebrated the opening of the first HYATT house hotel in Pittsburgh.
June – Briefs/Sales & Development
Boston Properties, Hines Break Ground in San Fran; Behringer Harvard, Trammell Crow Begin Houston M-F Project; Ivanhoé Cambridge Joins Goldman, Greystar in $1.5B M-F Buy; Hollister Breaks Ground on Newark’s $150M M-F Teachers Village; KBS Adds 518 KSF to Austin Portfolio; Kilroy Breaks Ground on 450 KSF Office Tower; Mack-Cali Completes $88M Buy; EQR Sells DC M-F Asset for Record Price.
First Phase of Ward Village to Bring More Than 900 Condominiums Downtown
The Howard Hughes Corp. has announced plans to develop three condominium high-rises in Honolulu’s Kakaako neighborhood, as part of the Ward Village master plan.
Vetter Denk Details Planned Appleton M-F Complex; HSA Commercial Buys Brookfield Retail Center
Vetter Denk Architects Inc. of Milwaukee has recently unveiled plans to develop 180 apartments in Appleton. Plans call for five three-story buildings across an 8.3-acre site located on the city’s riverfront, the Appleton Post Crescent reports.
Pittman Partners Files Plans for $90M Mixed-Use Hub in Zionsville
Pittman Partners LLC is planning a $90 million commercial and residential hub in Zionsville, the Indianapolis Business Journal reports.
Whitsett Plans to Convert 190,000 SF Former Indianapolis Star HQ into Apartments
The Whitsett Group is planning to redevelop the Indianapolis Star’s downtown headquarters into apartments. According to the Indianapolis Business Journal, the company has recently acquired the 190,000-square-foot property at 307 N. Pennsylvania Street and its 500-space parking garage from Star’s parent company, Virginia-based Gannett Co. Terms of the transaction were not disclosed.
Federal Capital to Break Ground on Third Phase of Downtown Durham Project
Construction on the third phase of West Village in downtown Durham is expected to start in June, Federal Capital Partners announced.
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