the Editors of Commercial Property Executive
Dogwood Creek Sells for $26 Million; Hunters Trace Apartments Financed for $11 Million
By Eliza Theiss, Associate Editor New York-based Somerset Partners LLC has purchased Dogwood Creek, a 278-unit apartment community on Houston Levee Road in Collierville. G & I V Dogwood Creek LLC, a joint venture between Fogelman Venture Partners of Memphis and a fund managed by New-York-based DRA Advisors LLC, sold the community at a rate […]
Retirement Home Planned for Davidson; Charlotte Emergency Facilities Receive State Approval
By Eliza Theiss, Associate Editor
Hawthorne Retirement Group is planning to construct a 33,000-square-foot retirement home on 4.19 acres of land on the shore of Lake Cornelius in Davidson. If built, the senior-housing community would feature a public trail and boat […]
Hersha Hospitality Trust Buys Rittenhouse Hotel in Philadelphia for $42M
By Veronica Grecu, Associate Editor
Philadelphia’s famous Rittenhouse Hotel, one of the finest hotels globally according to a Travel + Leisure 2011 ranking, and the 10th Business Hotel in the World, is no longer a part of the Rittenhouse Development Corp. portfolio.
Hersha Hospitality […]
Developers, Investors See Value in Early-Purchase Commitments
By Brad Pepin, Director, Stan Johnson Co.
Although most developers of single-tenant, net-leased retail properties still carry the construction costs on their own balance sheets, it is becoming more common to find a take-out buyer at the very beginning of the process.
What Makes Commercial Real Estate Click in Today’s Market
By Ben Price, First Vice President, Regents Bank
Success in property ownership in today’s market revolves around long-term strategies and relationships that help maximize return on investment. Lending and insurance strategies, when structured correctly, become important tools in this approach.
Streets of Woodfield to Be Sold by Kimco Realty Corp.
By Gabriel Circiog, Associate Editor The Streets of Woodfield, a 713,000-square-foot outdoor mall located in Schaumburg, is being sold by Kimco Realty Corp., ChicagoRealEstateDaily.com reports. Arrow Retail, a Dallas investment firm, has agreed to buy the property located at 601 N. Martingale Rd. Although the agreed price is not yet known, another investor had signed […]
ReadyTalk Relocates to 1900 Sixteenth Street; LoDo Design Board Wants Changes to Proposed Project
By Gabriel Circiog, Associate Editor
ReadyTalk will move from 1598 Wynkoop St. to 1900 Sixteenth St. at the end of the month, reports The Denver Post. The Denver-based web and audio-conferencing company is moving in order to accommodate 60 new employees and will occupy two floors in a new high-rise close to the 16th Street Mall.
Dan […]
Dell Children’s Adds New Tower and Expands Services
By Camelia Bulea, Associate Editor
Dell Children’s recently unveiled details on the expansion of its Medical Center, which is currently underway in Austin. Due to the fact that its patient numbers recorded significant growth over the last few years, the company […]
North American Investor Optimism Leads the Way at MIPIM 2012 Despite Uncertainties
Senior industry leaders gathered at the exclusive pre-MIPIM 2012 event hosted by CREOpoint CEO J.C. Goldenstein to share both their expectations for the week and their sentiments on the global real estate environment.
The mood among participants was mostly positive. After sitting on the sidelines for several years, yield-starved investors are eager to find new opportunities. Howard Roth, global real estate leader for Ernst & Young L.P., was “cautious but positive, even in Europe, thanks to the recent stimulus,” he said. “There’s plenty of equity looking for a home this year.”
Demitrios Louziotis, senior vice president of global real estate solutions at ARGUS Software, may have best summarized the mood. “This time last year, the champagne glass was half full,” he said. “When we got to the fourth quarter, we realized the bottle was empty. Now the question is where is the next bottle coming from — and who’s bringing it.”
Mid-City L.A. Shopping Center Completes Construction
Developer CIM Group has completed construction of the 330,000-square-foot Midtown Crossing retail center in Mid-City Los Angeles, which targets the more than 1.3 million residents within a five-mile radius.