News
Monticello Keeps North Dallas’ M-F Market Thriving with New Buy
Monticello Asset Management has contributed to North Dallas’s growing multi-family market with the purchase of the 148-unit Willoughby Park Apartments.
Polidev Investments Acquires Office/MOB Asset in University Town Center
Polidev Investments Inc. recently completed the acquisition of a San Diego office and medical office campus located in the city’s University Town Center submarket. Seller DivcoWest worked with real estate company HFF to market the property, with HFF also being responsible with closing the transaction. Polidev also worked with HFF in securing the necessary financing for the acquisition of Genesee Plaza.
Kite Realty Group Buys Summerlin’s Rampart Commons in $32 Million Deal
The second half of the year meant a substantial increase in the amount of attention the Las Vegas commercial real estate market has seen, with investors dialing in on opportunities throughout the market. Kite Realty Group Trust recently completed the acquisition of Rampart Commons in the city’s Summerlin submarket, an area of the Las Vegas Valley that is seeing development and interest reach an all-time high. The Indianapolis-based company paid a total of $32.3 million for the asset, including $12.3 million of assumed debt.
New DC United Stadium to Open in 2017
D.C. is one step closer to getting a new soccer stadium. Last week, the D.C. Council approved the District of Columbia Soccer Stadium Act of 2014 in its second and final vote, green lighting the development of a new 20,000-25,000-seat stadium for D.C. United, in the District’s Buzzard Point neighborhood.
Corvex Boosts ARCP, Stock Jumps
There’s the accounting debacle, investigations and many a resignation, but the latest news from American Realty Capital Properties Inc., while gossip-worthy, is without scandal or negativity even.
Regency Centers Helps Seattle Grow with Another Purchase
Regency Centers has acquired Broadway Market, a mixed-use property in the Capitol Hill neighborhood of Seattle, from a joint venture of Madison Marquette and LaSalle Investment Management.
Economy Watch: Construction Spending, Non-Residential Building, Manufacturing, Industrial, Retail Sectors
Construction spending dropped in November, though nonresidential building was up for the year. Manufacturing was down that month but continues to grow overall—good news for the industrial and retail sectors.
Whitestone REIT Shows Keen Interest in Sugar Land
Whitestone REIT has made its first purchase in Houston since becoming publicly traded in 2010 with the purchase of a 262-square foot shopping center in the city’s desirable Sugar Land community.
Starwood Hotels Spends NYE Opening Three Hotels in China
On the very last day of 2014, Starwood Hotels & Resorts Worldwide made a big splash in its China expansion endeavor with the announcement of the opening of not one, not two, but three hotels totaling 929 guestrooms.
Toll Bros. Buys NYC Non-Profit Building for $135M
Toll Brothers can move ahead with development of another urban condo project now that it has closed on its purchase of 122 E. 23rd St., owned by United Cerebral Palsy of New York City.