the Editors of Commercial Property Executive
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 […]
Belmont Village Sells for $16.9 Million; Sullivan Branding Moves to the Toyota Center in Downtown
By Amalia Otet, Associate Editor Belmont Village, a Class A senior living community, recently sold for $16.9 million to an affiliate of Ohio-based Health Care REIT Inc. 6605 Quail Hollow Road purchased the three-story senior living center from Texas-based Belmont Village Memphis LLC. The 120-unit complex sits on a 3.8 acre tract and was built […]
Bank of America Offices Up For Sale; Charlotte Multifamily on the Rise
By Amalia Otet, Associate Editor
Charlotte-based Bank of America recently announced plans to sell its interest in Hearst Tower and Fifth Third Center, two of the largest office towers in the Queen City, and a third building in New York, 222 […]