News
Laurus Corp. Sells Repositioned Holiday Inn Express for $15.8M
Real estate investment and development firm Laurus Corporation has announced the $15.3 million sale of the Holiday Inn Express & Suites – New Orleans Airport South, marking a 33.5 percent internal rate of return (IRR) and 2.3 times equity multiple in less than three years of ownership.
Caruso Affiliated Files for Entitlements for Brand New Luxury Residential Community
Caruso Affiliated recently announced that it has filed all paperwork necessary for a new L.A. development project. The company is planning to build a new multifamily asset in the immediate vicinity of one of its most successful projects in the Los Angeles area. The developer is confident that it will be able to apply its vision of opening the new residential community by late 2017.
Duke Realty To Sell Huge Office Building In Greater Cincinnati
Duke Realty Corp. is moving forward with its plan to transform its portfolio into primarily industrial and medical office assets. The Indianapolis-based company has recently put one of its largest class A office buildings in the Greater Cincinnati area on the market.
St. Croix Capital Readies Kickoff of $90M Mixed-Use Project
St. Croix Capital Corp. announced the start of construction of a mixed-use development on a 60-acre site located in Southeast Austin, two miles west of the Austin Bergstrom International Airport. The project, dubbed Airport Gateway, will roll out in phases, containing hotel, industrial, and retail space.
Developers to Breathe New Life into Iconic Stapleton Air Traffic Control Tower
After two decades of neglect following the closing of the Stapleton International Airport, Cleveland, Ohio-based developer Forest City Enterprises and Seasoned Development unveiled plans for the redevelopment of the airport’s iconic air traffic control tower.
JHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M
The 225-key Embassy Suites Hotel near Crabtree Valley Mall in Raleigh has a new owner.
LSU Cancels Contract With Skanska-MAPP JV
Skanska announced last week that Louisiana State University has canceled the order for the renovation and expansion of the Patrick F. Taylor Hall building. The contract was worth $54 million.
Master Plan for University Mixed-Use Development Approved
Innovate ABQ project is getting closer to the Start line after the University of New Mexico regents unanimously approved the master plan for the seven acre site at Central Ave. and Broadway Blvd. Downtown.
Executive Insight: Stephen Park, 5G Studio, on Solana Business Park
Stephen Park, 5G Studio architect & co-lead on the Solana Business Park redevelopment, talks about its role in the revival of the renowned Dallas business park.
JLL Wins Gargantuan Industrial Portfolio Management Assignment
JLL just landed a big one, as more companies look to third parties to manage their real estate assets.