Development
Grosvenor Americas Acquires 360-Unit Seattle-Area Apartment Complex
Grosvenor Americas has bought a 360-unit community in Woodinville, Wash. The company plans to spend about $5 million to upgrade the apartment interiors and other bells and whistles.
Three Denver Metro Office Buildings Sold; NexCore Group Completes Construction of St. Anthony North Medical Pavilion
By Gabriel Circiog, Associate Editor Three southeast Denver metro trophy-office buildings were recently sold, gathering a total of $120 million, reports the Denver Business Journal. The sellers in all three individual transactions were represented by John Jugl and Mary Sullivan … Continue reading →
Vulcan Expects Amazon Global HQ in Seattle to Sell Quickly
Vulcan Real Estate is selling Amazon’s South Lake Union headquarters, with plans to use the proceeds of the sale for ongoing development of its large land holdings in SLU.
New $45M Teaching Center Gets Green Light
By Camelia Bulea, Associate Editor The University of Texas System Board of Regents authorized the building of a $45 million academic learning and teaching center at the UT Health Science Center San Antonio. In an official statement, Kenneth Kalkwarf, D.D.S., M.S., president ad interim of the Health Science Center, said the necessary funding would come […]
First Potomac Sells Stake in 1200 17th St., N.W., for $43.7M
By Adrian Maties, Associate Editor First Potomac Realty Trust last week announced the sale of its 95 percent stake in 1200 17th St., N.W., in downtown Washington, D.C., for $43.7 million as part of a larger analysis of its development pipeline. First Potomac acquired the property in a joint venture with Akridge from the National […]
Alternatively Built M-F Development Uses Upcycling as a Hook
A new trend of alternative building for multi-family developments is on the rise. This trend uses upcycling, or the conversion of waste products into new uses.
Henderson’s Vantage Lofts Gets $15M Restart; Ryland Homes Debuts
By Alex Girda, Associate Editor A stalled 20-acre residential development is getting new life after its acquisition by Rothwell Gornt Cos., a venture capital fund. Recently acquired out of bankruptcy, the Vantage Lofts development is set to resume construction and is slated for completion in the next six to nine months, the Las Vegas Review-Journal reported. Located at Paseo Verde Parkway and Gibson Road, Vantage Lofts (pictured at right) will require about $15 million to complete its 110-unit first phase. Company principal Richard Crighton told the Las Vegas Review-Journal the company is in the process of submitting building permit applications….
Bedok Mall Joins Ambitious M-U Development in Singapore
By Alex Girda, Associate Editor The Singapore mixed-use market is on track to see a large project take shape as the Bedok Mall, the area’s first major shopping mall, was announced for fourth quarter of 2013. Bedok is Singapore’s largest estate and the retail project is just a phase in a massive upcoming retail-residential-transport development, the first of its kind in the region. The Bedok Mall project will join the existing Bedok Residences and the forthcoming Bedok transport hub, consisting of the Bedok MRT station and the new bus interchange to complete the vision. The shopping mall will boast a…
LYND Buys M-F Portfolio with $200M Unpaid Principal Balance
By Scott Baltic, Contributing Editor LYND, of San Antonio, Texas, in partnership with Florida Value Partners, of Miami Lakes, Fla., has acquired a portfolio of 11 multi-family properties in a court-appointed receivership sale brokered by CBRE, LYND announced Monday. The original loan balance was $200 million; the purchase price was not disclosed. “This pretty much followed the model of similar transactions we’ve made over the last couple of years,” said A. David Lynd, LYND’s president and COO. “We continue to seek opportunities that align with our investment strategy of acquiring value-add properties where we can effectively use our operating platform…
Lionstone JV Buys Eight Tracts at Lantana with Capacity for 1.1 MSF of Office Space
By Gail Kalinoski, Contributing Editor More than 1.1 million square feet of office space could be built on eight undeveloped land tracts totaling 154 acres in an Austin, Texas, mixed-use development that Stratus Properties Inc. has sold to a subsidiary of The Lionstone Group, Lincoln Property Group and Greenfield Properties for $15.8 million in cash. Since it purchased the 738 acres in January 1994 for $4.1 million, the Austin-based residential and commercial development company has sold properties at the Lantana site for an aggregated sales price of about $100 million and with an aggregate sales cost of approximately $46.1 million. …
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