Development
Silverstein Secures Financing for Four Seasons Hotel, Condo Project in Lower Manhattan
Backed by a $660 million loan from a London investment fund, Silverstein Properties will begin construction this fall on a $950 million project, one of the tallest skyscrapers in downtown Manhattan, comprised of a 185-room Four Seasons hotel and 157 luxury condos.
Regency Centers Corporation Breaks Ground on $50M First Phase of Shops on Main
Regency Centers Corporation has broken ground on the first phase of Shops on Main, a 147,851-square-foot community shopping center in Schererville, Ind.
Pan Pacific Opens $81M Extended-Stay Hotel in Singapore
The 180-key extended-stay luxury hotel is Pan Pacific’s fourth Singapore property.
American Campus Communities Breaks Ground at Princeton
American Campus Communities has begun construction on a 325-unit faculty and staff housing project at Princeton University, its second development at the New Jersey school but the REIT’s first that’s not for students.
Trammel Crow, Principal Sign ConocoPhillips to 850 KSF Lease in Houston’s Energy Corridor
The energy company will be the sole occupant of a 550,000-square-foot office tower scheduled for completion in 2015 and will move into an additional 300,000 square feet at a companion building the following year.
Hines Sells 2 Manhattan Trophy Towers for $1B-Plus
American Realty Advisors won the competition for 499 Park Ave., and J.P. Morgan Asset Management has acquired 425 Lexington Ave.
BIT to Break Ground on $131M Development in Hoboken
Park Place, a $131 million, 12-story multi-family building funded by the AFL-CIO Building Investment Trust and to be developed by Bijou Properties and built by Tishman Construction, will break ground tomorrow in Hoboken.
Amstar Continues Turkish Retail Expansion with 560 KSF Shopping Center
Global real estate investment manager Amstar has opened yet another institutional-quality shopping center in Turkey.
Lend Lease, InterContinental Obtain $465M to Build Private Hotels on Army Bases
Lend Lease has secured $465 million in debt financing from Bank of America and is moving ahead with the third and final phase of renovating and developing more than 11,000 hotel rooms on 39 U.S. Army installations with Intercontinental Hotels Group-branded hotels.