Investment
Virgin Hotels Breaks Ground in Music City
The Buccini/Pollin Group and BPGS Construction began work on Virgin Group’s $110 million hotel. Virgin Hotels Nashville will feature 240 keys and is slated to open in 2019.
HFF Brokers $44M Sale of Charlotte Hotel
Hospitality Properties Trust purchased the Crowne Plaza Charlotte Executive Park, a 300-key hotel that underwent an extensive revamp process in 2014. Intercontinental Hotels Group will manage the asset from now on.
New Skyscraper Coming to Uptown Charlotte
Ally Financial leased the majority of Ally Charlotte Center, a 742,000-square-foot office tower built by Crescent Communities. Construction on the 26-story building is set to begin early next year.
Monmouth Lands 300 KSF OH Industrial Building
The company purchased the new asset for $18.3 million. Located in Kenton, the property is leased to New York-based International Paper Co.
Seagis Property Group Expands NYC Portfolio
The company acquired three warehouses totaling 135,000 square feet. This purchase marks Seagis Property Group’s entry into the Brooklyn submarket.
Don’t Let Taxing Authorities Kill Your Deal
Tips from a veteran attorney on handling the assessments that can spell the difference between a successful closing and coming up short.
CenterSquare Spins Off from BNY Mellon
The firm, set to be sold to its management team and private equity firm Lovell Minnick Partners, has $9 billion in U.S. assets under its umbrella, as well as global real estate and infrastructure investments.
Madison International Buys Forest City Retail Stake for $1B
The company, which already owns a 49 percent stake in the New York City properties, is acquiring the remaining 51 percent interest from Forest City Realty Trust.
San Diego Office Property Gets New Owner After 60 Years
Kennedy Wilson represented the seller of the leasehold interest in the property and the buyer of the fee interest in the land. The Little Italy asset traded hands for the first time in 63 years.
Newport Beach Office Tower Trades for $76M
American Realty Advisors sold 4100 Newport, a 190,400-square-foot office tower in Orange County, Calif., to Olen Properties in a transaction that’s been deemed the area’s largest office sale by price per square foot.