Development
KTGY-Designed $1B Master Planned Community in California Moves Forward
A $1 billion-plus, 2,200-acre master-planned community just off I-10 in Coachella, Calif., has received unanimous approval by the city council there.
Carlson Rezidor to Open 2 Radisson Blu Properties in Saudi Arabia
Carlson Rezidor Hotel Group has increased its portfolio in the Kingdom of Saudi Arabia with the addition of two upscale Radisson Blu properties: The Radisson Blu Resort Al Khobar Aziziya and Radisson Blu Hotel & Residence Unaizah.
Gansevoort Founder to Develop Luxury Lifestyle Hotel in London
Gansevoort Hotel Group founder Michael Achenbaum has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop a full-service urban resort at 45 Curtain Road in East London’s fashionable Shoreditch district, set to break ground early next year.
TriGranit Develops 344 KSF Office Complex in Krakow, Poland
TriGranit, one of the largest fully- integrated European real estate investment, development and management companies has completed the first stage of development of Building D in the Bonarka 4 Business (B4B) complex.
USAA, Touchstone Partner to Develop Project in Seattle’s South Lake Union
The hot South Lake Union submarket in Seattle is getting another office development as USAA Real Estate Co. and Touchstone team up on a two-building, 820,000-square-foot project at 307 Fairview Ave. North.
Xinyuan Grabs 4 Land Parcels in China
Xinyuan Real Estate Co. has acquired four land parcels in China via auction and intends to primarily develop apartments.
DIC Group Sells Office Tower in Frankfurt Financial District for $211M
Leading German commercial real estate investor DIC has sold the MainTor Porta office tower to Union Investment Real Estate GMBH for approximately $211 million.
W. P. Carey to Develop Build-to-Suit Office Facility in Germany for $65M
By Barbra Murray, Contributing Editor W.P. Carey has expanded its presence in Europe for the second time in a month. The REIT just announced a build-to-suit contract for a new office property to be occupied by Banco Santander S.A. in Monchengladbach, Germany. The Class A building will cost $65 million to develop and, upon completion, will be occupied by the international bank under a long-term leaseback agreement. “As a 20-year net lease to one of the world’s leading banks for one of their core German assets, the investment is consistent with our strategy of growing our global portfolio with quality…
Al Futtaim Group to Open 2 MSF Cairo City Mall
Al Futtaim’s real estate development and operations division is set to develop Cairo Festival City Mall, Egypt’s first-ever indoor-outdoor shopping center.
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