Business Specialties
Executive Insights: Michael McNally, Southern Land Co.
Southern Land Co. recently rocked the Nashville real estate market with the $95.1 million sale of Elliston 23 Apartments, a mixed-use luxury multi-family development, which it owned in a joint venture with institutional investors advised by J.P. Morgan Asset Management. Vice president of mixed-use development Michael McNally Jr. talks about what the sale means for the company and for the white-hot Nashville apartment market.
NBA’s Lakers to Buy 5 Acres for New Training Center at L.A.-Area M-U Campus
The Los Angeles Lakers need a place to practice shooting hoops, so the NBA franchise has signed a deal to acquire a five-acre site at the Elevon at Campus El Segundo project in El Segundo, Calif.
International: HOCHTIEF, Kondor Wessels JV to Build 280-Unit Residential Development in Berlin
HOCHTIEF Projektentwicklung, a subsidiary of the HOCHTIEF Group, has partnered with Kondor Wessels on the construction of CEDELIA, a 280-unit residential development in Berlin-Zehlendorf.
Rockefeller Group Sells 1.5 MSF General Mills Distribution Center in Atlanta
The Rockefeller Group Development Corp. has sold the 1.5 million-square-foot General Mills Distribution Center in Social Circle, Ga., to Welsh Property Trust.
International: Laurus to Develop 323 KSF Retail Project in Nigerian Capital
Construction on Jabi Lake Mall, a 323,000-square-foot retail development in Nigeria’s capital, Abuja, is underway, according to project and development manager Laurus Development Partners.
Gaming and Leisure Buys Meadows Racetrack, Casino in Washington, Pennsylvania for $465M
Gaming and Leisure Properties, a REIT that spun off from Penn National Gaming late last year, has acquired The Meadows Racetrack and Casino in eastern Pennsylvania for $465 million from Las Vegas-based Cannery Casino Resorts.
Meridian Arranges $142M in Financing for 2 MSF Detroit-Area Office Complex
Meridian Capital Group has arranged a $142 million mortgage on behalf of 601 West Cos. for the latter’s purchase of Southfield Town Center in Southfield, Mich.
International: FRHI to Develop 7 New Hotels in MEAI Region
The MEAI (Middle East, Africa and India) region is set to see the development of seven new hotels operated by FRHI Hotels & Resorts.
Calvin Cafritz Lands $61M in Financing for 263-Unit Apartment Project in DC
With the assistance of commercial real estate services firm Cassidy Turley, Calvin Cafritz Enterprises has secured $61 million in financing for the development of 5333 Connecticut Ave., a 263-unit luxury apartment community in the Chevy Chase neighborhood of Washington, D.C.
NorthView Student Housing Receives $58M in Funds for UCF Housing Development
NorthMarq Capital’s Florida-based offices have arranged $58 million in financing for NorthView Student Housing, located on the University of Central Florida campus in Oviedo, Fla.