News
IHG to Open Indigo Hotel in Greenland’s DTLA Metropolis Development
Greenland USA is adding a new hotel to its offering at the Metropolis mixed-use development in downtown Los Angeles. The company, a subsidiary of Greenland Group in Shanghai, has announced that it has inked an agreement with InterContinental Hotels Group for the opening of the city’s first Indigo-branded hotel. The hotel will be integrated into the $1 billion development project that Greenland is currently building in the proximity of the city’s Financial District and L.A. Live. IHG and Greenland are frequent partners, the latter operating seven facilities bearing IHG brands.
Behringer’s New Funds
Behringer Securities and Meritage Capital are taking advantage of the current market’s volatility.
DealPoint, Sperry Van Ness Want to Add Value
DealPoint Merrill and Sperry Van Ness International have formed a powerful partnership with capital preservation in mind.
Former Ramada Trades for $2.5M
A large hotel located just outside Cincinnati’s central business district has changed hands earlier this month. The former Ramada hotel at 800 W. Eighth St. was acquired by an affiliate of New Zealand-based VR Group, for $2.5 million, the Cincinnati Business Courier reports. AAIG of Cincinnati LLC, a company made up of a group of California investors, was the seller.
International: W.P. Carey’s Munich Lifestyle
The net lease REIT’s latest international investment plan.
NBS Arranges Acquisition Financing for FedEx Portfolio
FedEx is on a major expansion kick.
Developer Names Hotel Flag for Madisonville Project
More details have come to light about the $124 million mixed-use development in Madisonville. RBM Development Company LLC, the project’s developer, has entered into an agreement with the Wyndham Hotel Group, to brand and manage a $60 million hotel planned at the site, under its Dolce Hotels and Resorts flag.
Glen Burnie Townhome Community Sells for $76.25M
The Coves at Chesapeake townhome community in Glen Burnie is the latest addition to the list of large, Greater Baltimore multifamily assets that changed hands this year. The property traded for $76.25 million.
Ground Broken on $65.6M Innovation Hub in East Baltimore
Forest City-New East Baltimore Partnership, a partnership between Forest City Enterprises, Inc. and Presidential Partners LLC, is building a new innovation hub for life sciences in East Baltimore, just north of the Johns Hopkins medical campus. The project is called 1812 Ashland Avenue and is expected to cost $65.6 million.
JMT to Move 600 Baltimore County Employees to Hunt Valley
One of the largest architecture and engineering firms in the Greater Baltimore area is moving its headquarters to Hunt Valley. Johnson, Mirmiran & Thompson will relocate and consolidate its operations into a new building, to be built at 40 Wight Avenue.