the Editors of Commercial Property Executive
BrickellHouse Leads Miami’s Next Wave of Condo Development
By Georgiana Mihaila, Associate Editor
Less than four months since launching, BrickellHouse has managed to sell 50 percent of its future 374 units of condo space near downtown Miami. The fast-paced sales activity is being driven by international, cash-heavy buyers from […]
AREA Partners, Nucor Invest in Memphis Industrial Submarket; Mountain Development Plans New Apartment Community
By Amalia Otet, Associate Editor AREA Properties Partners, a global real estate investment and asset manager headquartered in New York City, recently acquired a $23.6 million industrial portfolio in Memphis from Kansas City Life Insurance Co. The package includes Southpark H at 4650 Quality Dr., Southpark G at 4481 Pleasant Hill, Memphis Distribution D at […]
Proffitt Dixon Partners Breaks Ground on New Developement in Charlotte; Senior Community Planned for Tega Cay
By Amalia Otet, Associate Editor
Charlotte-based Proffitt Dixon Partners, a multifamily investment and development firm currently focused on Class A apartments in North Carolina, South Carolina and Virginia, recently broke ground on a new development in the Queen City. The 208-unit […]
Divco West Acquires Pointe I and II for $53M; Pioneer Green Raises $11M
By Camelia Bulea, Associate Editor
Divco West Acquisitions LLC recently acquired two Class A office buildings in Austin, totaling about 261,243 square feet. The transaction includes Prominent Pointe I and II, which were sold for $53 million. Austin-based Aquila Commerical arranged […]
Carmel Companies Sells Denver Multifamily Properties for $275 Million
By Gabriel Circiog, Associate Editor
Denver-based Carmel Companies proceeded to sell $275 million worth of multifamily properties over the last few weeks. The apartment management company, founded in 1965 by Kal Zeff, had retained CBRE as an exclusive adviser for the […]
CME Group to Sell Two Towers at Board of Trade
By Gabriel Circiog, Associate Editor
A joint venture led by Chicago developer GlenStar Properties, which also includes San Antonio-based USAA Real Estate Co., is in the process of acquiring two Chicago Board of Trade towers from CME Group Inc., ChicagoRealEstateDaily.com reports. […]
Distressed Debt & Asset Update: Rough Path to Recovery
Increased transaction flow, driven by real estate investment trusts and distressed deals — in turn aided by improved access to debt and equity capital — has helped revive the commercial real estate markets as property fundamentals continue to improve. By Steven Bandolik and Mark Wojteczko.
Investors and Developers Boost Hospitality Sector in New York City
By Veronica Grecu, Associate Editor
According to Crain’s New York Business, South Carolina-based OTO Development is set to build a new hotel in midtown Manhattan. The company has reached an agreement with the multi-millionaire Brach family to pay $36 million for […]
Miami Heart Institute Trades Owners, Awaits Resolution
By Georgiana Mihaila, Associate Editor
Holliday Fenoglio Fowler recently announced the successful sale of the Miami Heart Institute to Lionheart Capital after years of scouting for a potential buyer. No financial details have been disclosed, but seller Mount Sinai Medical Center […]