News
Nashville’s Supply Side Shines
With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket. Investors acquired more than $1 billion in apartments in 2016, according to Yardi Matrix.
Transwestern Sells 114 KSF Office Building in TX
CRE Brookhollow LLC has sold a two-story, 113,500-square-foot property in Arlington, Texas, to Arbor Hui LLC. Transwestern brokered the transaction on behalf of the seller.
Ground Breaks on $150M Mixed-Use Project in Suburban LA
The Vineyards will make its debut with the opening of its shopping center in late 2018, followed by the hotel and apartment complex in 2020.
Cress Expands Western Portfolio With $110M Buy
The company has acquired more than 800,000 square feet of office and flex industrial space in Southern California and Colorado in two transactions.
Hilton Des Moines Hotel Tops Off
A beam signing took place at the construction site, which upon completion will be connected to the Iowa Events Center and Des Moines Skywalk. The 330-key hotel is set for full completion in April 2018.
Summit Acquires Courtyard by Marriott Fort Lauderdale
The company plans to invest $1.6 million over the next year for public space improvements and a patio bar redesign. The transaction included the sale of the hotel, vacant land and retail space.
Alexander’s Cashes Out Nearly $200M in Manhattan Refi
The office portion of 731 Lexington Ave. in Manhattan received $500 million in refinancing, which matures in June of 2024.
New Logistics Property Coming to Metro Atlanta
The plan is to build a 1 million-square-foot logistics asset, which could be expanded to 1.4 million. The building is scheduled to be completed by the first quarter of 2018.
Economy Watch: Construction Spending Takes a Dip in April
Both private and public construction spending declined for the month in almost every property category, according to the Census Bureau, including in lodging and health care.
CWI Lands Charlotte Marriott City Center
The REIT acquired the hotel following a $40 million renovation process completed in 2016. The building is now dubbed “The Beta Hotel” due to its ultra-modern features.