News
The Montrose Changes Ownership, Goes Condo
The Montrose, a boutique rental building in Midtown Manhattan, was recently sold in a $75 million transaction brokered by HFF.
Land Acquired for 80-Unit Multifamily Asset in Allston
Waypoint Companies’ 80-unit apartment complex project that was approved by the BRA last year is now one step closer to breaking ground.
Hilton Expands Extended-Stay Footprint, Renovates Madison House into Home2 Suites Hotel
Hilton has announced a $13 million adaptive reuse project of the building known by the name of the Madison House, The Walton, Walton Building, etc. as part of an expansion process involving nearly 20 U.S. downtown locations. The hospitality giant plans to convert the building into Atlanta’s first Home2 Suites-branded extended stay hotel and expects it to open in August 2015.
Pasadena Office Asset Acquired by Laurus Corporation
A Pasadena office asset was recently picked up by private real estate investment and development firm Laurus Coporation. The company announced the acquisition of 199 South Los Robles this week, which marks an expansion of Laurus into the country’s second largest office market. Pasadena is one of the best performing submarkets in Los Angeles, with the area being able to maintain a consistently low average vacancy rate over the past decade. Pasadena, along with Glendale and Burbank, is part of Tri-Cities market, one of the top three real estate markets in Los Angeles County.
In a First, Arizona Wins Place on LEED Top 10 List
A Tempe office building set a national ENERGY STAR record recently when it received its 15th consecutive ENERGY STAR certification. Now, Arizona won a new accolade as the state secured a position for the first time in the U.S. Green Building Council’s annual Top 10 States for LEED list.
SEG’s New Home in Tulsa Heads for June Debut
Construction is well underway at Society of Exploration Geophysicists’s new headquarters in Tulsa, FOX23 reports.
HID’s New, Green HQ Reaches Milestone
HID Global, a worldwide leader in secure identity solutions, has announced it has finalized the consolidation of its world headquarters and North American Operations Center located in Austin. In the following 12-18 months, the company has planned to pursue a number of additional security certifications for its operation.
CBL Disposes of Majority Ownership in Debt-Laden Mall Property in Raleigh
In a $181 million deal, CBL & Associates Properties and its 50-50 joint venture partner, The R.E. Jacobs Group, are selling the Triangle Town Center and the adjacent Triangle Town Place shopping center in north Raleigh to an institutional investor.
The Domain Companies Secures Construction Financing from First NBC Bank
The Domain Companies has secured financing for its second residential project in Baton Rouge, The Addison. The New Orleans and New York-based developer first announced its plans to build the $23 million development at the end of September. Construction started in November.
Clear Sky Capital Acquires Apartments in Albuquerque
Silverado Apartments has exchanged owners in a transaction handled by the rebranded Colliers HSK Multifamily Southwest Team, a partnership between Colliers International in Greater Phoenix and Collier’s office in Albuquerque. The buyer was Clear Sky Capital Inc. of Phoenix and the seller First Pacific Group, a real estate investment and management firm from San Francisco.