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Morrison Raises $200M for Mezzanine Debt
The fund provides small-balance mezzanine capital, with investment balances typically ranging from $2 million to $10 million, to CRE market participants across diverse property types in the top 100 MSAs nationwide.
Office Tower Set to Rise at UD STAR Campus
JLL has been selected to lead leasing and marketing efforts for the 120,000-square-foot building, which is scheduled for completion by next year. The tower is estimated to cost about $40 million.
Ascend Hotel Collection Welcomes 6 New Properties
The firm plans to keep up the pace; the brand will open a total of 44 properties this year. Currently, there are more than 170 Ascend lodging destinations operating across the globe.
New Owners Rebrand Seattle High-Rise Project
Weber Thompson is serving as architect of the 41-story Arrivé. The tower is scheduled to be delivered in the first quarter of 2019.
Penn Medicine Kicks Off $1.5B Philly Project
The Pavilion, a 1.5 million-square-foot hospital rising at the site of the former Penn Tower in West Philadelphia, marks the largest development in the university’s history.
CCP, Sabra to Create Healthcare Giga-REIT
The combined company is expected to have an equity market capitalization of $4.3 billion and a pro forma market cap of about $7.4 billion.
Union Investment Snaps Up $154M Denver Asset
The Triangle Building, a 226,000-square-foot, uniquely shaped Class A office property in lower downtown, was 98 percent leased at the time of sale.
BofA to Anchor Tower in Chicago’s West Loop
With construction slated to begin in the spring of 2018, Bank of America is expected to take almost 500,000 square feet at 110 N. Wacker Drive as soon as 2020.
Details Revealed for Obama Center
The development, which has an estimated cost of roughly $1.5 billion, will be a three-building public destination featuring the Museum, the Forum and the Library.
IHG Names New CEO
Upon joining the company in 2000, Keith Barr has held numerous positions across the Americas, Asia, Middle East and Africa, and Greater China regions.