News
Economy Watch: The Benefits of Low Inflation
Low inflation is a positive for the commercial real estate industry. Click here to find out why.
Ivanhoé Cambridge Makes Second-Largest Single-Office-Building Transaction in U.S.
On a mission to increase its U.S. platform with top-quality office properties, Ivanhoé Cambridge has bought the iconic Three Bryant Park in midtown Manhattan.
Skanska Expands Hospital in Central Texas
In response to new ACA needs, Skanska USA has been selected to spearhead construction of a 236,800-square-foot addition to a hospital in central Texas.
Related Disposes of OneEleven Tower at Record Price
Scarcely six months after opening, OneEleven, a 504-unit luxury apartment tower in downtown Chicago, has been sold by Related, its developer.
Mortenson, SunShare Join Forces to Develop Community Solar Gardens across Minnesota
Denver-based community solar company SunShare and construction firm Mortenson have joined forces to develop and build community solar gardens across Minnesota.
RADCO Acquires, Rebrands Trails of Westlakes
The RADCO Companies, an Atlanta-based apartment investment and redevelopment company announced the acquisition of a three-property multifamily portfolio that encompasses 916 units in Houston and San Antonio. Trails of Westlakes residential complex of San Antonio consists of 336 units, and as the two Houston properties, has been foreclosed upon in 2011 by Frannie Mae, the seller.
HCDA Green-Lights Stanford Carr’s New Affordable Apartment Complex in Honolulu
Hawaii regulators have approved a $50 million, 128-unit affordable rental project proposed by Stanford Carr near Ala Moana Center in Honolulu’s Kakaako neighborhood.
Berkadia Finances Three Seattle-Area Self-Storage Facilities
Berkadia recently announced that the company’s Seattle office has completed $21 million in combined loan proceeds for three different self-storage facilities. The commercial real estate company arranged the financing for the properties located throughout the Puget Sound area. The borrower is Ray Moore Construction, with the company working with a Berkadia team led by Senior Vice President Louis Weisman. The loans were a 10-year, interest-only, fixed-rate loans secured through a major Wall Street lender.
Cleveland Browns Continue with Phase II of Renovations at FirstEnergy Stadium
Last Wednesday, the Cleveland Browns released more details about the second phase of the FirstEnergy Stadium Modernization Project. It is the final phase of a $125 million makeover, expected to improve the fan experience and also help the team win as many games as possible.
GCS-SIGAL Starts Work on $82M Duke Ellington School of the Arts Modernization Project
The team of GCS-SIGAL, LLC, a joint-venture partnership between GCS, Inc. and SIGAL Construction Corporation, broke ground on December 19 on the Duke Ellington School for the Arts Modernization Project. Former Mayor Vincent Gray and many other school and local officials were present at the groundbreaking ceremony.