the Editors of Commercial Property Executive
Baltimore Apartment Community Wins Top Honors at Three Award Ceremonies
The Arbors at Baltimore Crossroads in Baltimore recently won top honors at three award ceremonies. The luxury rental community was designed by KTGY Group, Inc., Architecture + Planning. It was developed by Somerset Construction Company and is managed by Bozzuto Management.
Bluerock Sells 269-Unit Stratford Community
Bluerock Real Estate L.L.C. announced the sale of The Stratford apartments, a 269-unit multifamily community in Northwest San Antonio. The company purchased the property in December 2008, in a joint venture with The Lynd Co. Lynd Co., the 34th largest apartment manager in the United States, managed the property on behalf of the partnership.
Hyland Gets Tax Breaks for Westlake Expansion; Diebold Suspends Plans for New HQ
Earlier this month, the city of Westlake’s planning commission approved Hyland Software Inc.’s plans to build an office across the street from its headquarters on Clemens Road.
Hyatt Acquires Downtown Minneapolis Hotel
The Hyatt Hotels Corp. recently announced that a Hyatt affiliate acquired a select-service hotel, the 213-room Comfort Suites in downtown Minneapolis. Following $20 million in capital improvements, the hotel will be rebranded as Hyatt Place Minneapolis Downtown.
CBRE Buys Tollway Plaza Office Complex in Far North Dallas
CBRE Global Investors has purchased Tollway Plaza I & II, two office buildings in Far North Dallas totaling 369,000 square feet of space. News of negotiations between the California fund and Chicago-based Equity Office Properties Trust emerged back in September; two months, later the purchase is complete.
Parkway Properties Picks Up NASCAR Plaza for $100M
Orlando, Fla.-based Parkway Properties has announced entering a purchase and sale agreement for the acquisition of NASCAR Plaza, a 395,000-square-foot office tower in Charlotte’s central business district.
LEED Gold Certification Awarded to Iconic Chrysler Building; LinkedIn Doubles Presence at Empire State Building
The U.S. Green Building Council has awarded the LEED Gold-EBOM designation to New York City’s iconic Chrysler building. The certification comes one year after owner Tishman Speyer, a leading real estate development and investment company, embarked on a complex retrofit project at the skyscraper located on the east side of Manhattan at the intersection of 42nd Street and Lexington Avenue.
Vornado to Sell Three Reston Office Buildings for $126 Million
Vornado Realty Trust (VNO) continues to trim its portfolio. The New York-based real estate investment trust announced on October 29 that it has entered into an agreement to sell three office buildings located in suburban Fairfax County, VA.
Work Beginning on $79 Million Upscale Residential Complex in Conshohocken
A new upscale apartment community called The Courts at Spring Mill Station is coming to Conshohocken, a suburb of Philadelphia. Almost one year after announcing the project, real estate investment trust Home Properties broke ground last week on the $79 million complex during an official ceremony held onsite, at the corner of Hector and North Lane.
$10 Million Rehab Project Brings Shelter for the Homeless
Cass Community Social Services (CCSS), a Detroit-based non-profit organization that strives to provide basic needs, including affordable housing and food to the homeless and elderly in Southeast Michigan and Wayne County, announced last week a redevelopment project that would transform the derelict building located at 1584 Elmhurst Street at Woodrow Wilson Street into permanent supportive housing for the homeless.