News
StorageMart Expands Omaha Footprint
The company added more than 1,700 self storage units to its portfolio in the greater Omaha market. The facilities are located around 10 to 16 miles from the city’s downtown.
Strong Demand for Self Storage Pushes Rents Towards Recovery
Although street-rate rents remained flat for the standard non-climate-controlled units month-over-month, rent performance for climate-controlled units improved by 70 basis points compared to the previous month.
Office Asset in San Diego’s Tech Hub Trades for $10M
MIG Real Estate sold the three-story property in the Sorrento Mesa neighborhood, where technology and medical companies maintain a strong presence.
Vornado Sells $1.2B Stake in NYC Retail Venture
In its latest move to generate big proceeds, the REIT sold a 45.4 percent common equity interest in its Upper Fifth Avenue and Times Square collection.
$2.6B Encore Boston Harbor to Open in June
Believed to be Massachusetts’ largest project ever completed in a single phase, Wynn Resorts’ development will feature a 671-key hotel and a casino with 3,000 gaming positions.
Summit Hotel Properties Sells Multi-State Portfolio for $135M
The company completed the disposition of six assets totaling more than 800 guestrooms, located in Massachusetts, Texas, Minnesota, Utah and California.
OC Ventures Pays $23M for NC Student Housing
The company bought the 168-unit property from Waypoint Residential, which acquired the asset in 2017, in a portfolio transaction.
Chrysaor Buying ConocoPhillips North Sea Assets for $2.7B
The mega transaction will make the private equity-backed U.K. oil company one of the basin’s largest producers.
Austin Energy to Acquire Nacogdoches Facility for $460M
The transaction is expected to close in mid-2019 and will enable Austin Energy to avoid about $275 million in additional costs over the remaining term of the agreement.
Premier Design + Build Makes Key Promotion, Hires SVP
The company promoted Mark Melone to executive vice president & director of construction nationwide and Michael Long to senior vice president heading the Midwest division.