the Editors of Commercial Property Executive
Pebblebrook Hotel Trust Continues Bay Area Expansion with Hotel Palomar
By Alex Girda, Associate Editor At a time when San Francisco hotels are catching everyone’s fancy and room rates are going strong, it is to be expected that a number of hospitality transactions are being thrown around in the excitement. A case in point would be the recent acquisition of the Hotel Palomar San Francisco by […]
Sterling Organization Acquires Hoffman Plaza Shopping Center
Palm Beach, Fla.-based Sterling Organization recently announced the acquisition of Hoffman Plaza—a 168,342-square-foot shopping center located in Hoffman Estates. The property was purchased for $14.15 million through the company’s institutional fund, Sterling Value Add Partners.
Etkin Johnson Group Breaks Ground on First Phase of 74-Acre Mixed-Use Project
Etkin Johnson Group recently broke ground on the first phase of the Broomfield Business Center development,
Developers to Start $13.6M Affordable Project Near Albuquerque Downtown
Greater Albuquerque Housing Partnership plans to break ground on a 68-unit affordable housing apartment development located at the gateway to Albuquerque’s Downtown in January 2013. The $13.6 million project, dubbed Plaza Ciudana, is the first phase of a master-planned community planned to include between 250 and 300 units of affordable and market-rate housing, according to the New Mexico Business Weekly.
Amerimar Enterprises Acquires Key Telecom Carrier Hotel in Kansas City
Real estate development, investment and management firm, Amerimar Enterprises Inc. announced it has acquired 1102 Grand Avenue, a fiber-rich building located in downtown Kansas City. Amerimar Enterprises partnered with telecom industry veteran Hunter Newby to own and operate the property.
Harvard Reveals Massive Renovation and Expansion Plans in Allston
Harvard University, the oldest institution of higher education in the United States, announced plans to expand its footprint in the Allston neighborhood of Boston with nine development projects encompassing nearly one million square feet of new building space and around half a million square feet of renovation.
UWM Kicks off $75M Research Center; Bucks Extend Lease
The University of Wisconsin-Milwaukee (UWM) broke ground on a $75 million research center on Milwaukee’s East Side that represents the university’s largest-ever investment in a single building. Located northwest of Kenwood Blvd. and Maryland Ave., the 93,000-square-foot Kenwood Interdisciplinary Research Complex will be anchored by the physics department and include offices, research labs and instructional space. Upon completion in early 2015, it will be the first new academic facility on the university’s main campus in more than a decade. The new center represents the first phase of a complex that will eventually expand to a second building on the southeast corner of Kenwood Boulevard and Maryland Avenue.
Inner Baltimore’s Harborplace Sold to Ashkenazy Acquisition Corporation
Mayor Stephanie Rawlings-Blake announced on October 23 that the Baltimore waterfront’s iconic Harborplace has been sold to the Ashkenazy Acquisition Corporation. The New York real estate investment firm acquired the Inner Harbor complex from General Growth Properties. The sale price was not disclosed and representatives from both companies declined to comment.
Scott Felder Homes Selected as Builder for Havenwood Community
Austin-based Scott Felder Homes will serve as the recommended builder for the Havenwood community, following a strategic relationship with SouthStar Communities, a residential real estate development company and owner of the master-planned community located in New Braunfels.
Parmatown Mall Sold to Phillips Edison & Co.
Cincinnati-based Phillips Edison & Co., a fully integrated retail real estate company, is the new owner of Parmatown Mall, one of the largest retail properties in Northeast Ohio.