News
NewcrestImage Breaks Ground on New Hyatt House Hotel in Frisco
NewcrestImage recently broke ground for the development of a new, extended stay hotel in Frisco. Dubbed Hyatt House Frisco, the project is the first new-build Hyatt House Hotel in Texas. Located at 2875 Parkwood Blvd., the asset is within walking distance of the Frisco Conference Center, the Dr. Pepper Ballpark, Dr. Pepper Arena, the Stonebriar Centre mall and less than a mile from the future practice facility of the Dallas Cowboys.
BioMed Realty Sells Rockville Property to GI Partners for $322.5M
In one of the largest commercial real estate transactions of the year, in the Washington, D.C. area, BioMed Realty Trust, Inc. sold its biological manufacturing facility at 9911 Belward Campus Drive, Rockville, for $322.5 million or $1,112 per square foot. San Francisco-based GI Partners purchased the property.
Blackstone Picks Up Twin Office Buildings in Dublin
lackstone Real Estate Partners Europe IV has increased its presence in Ireland with the acquisition of the Atrium buildings, two premier office structures in Sandyford, in Dublin’s south suburbs.
INTERNATIONAL: Heitman Grabs Two M-F Portfolios in Amsterdam
Global real estate investment management firm Heitman L.L.C. has bought two separate apartment portfolios, for the first time in Holland.
Banyan, Oaktree JV Buys Office Portfolio from Parkway Properties
A joint venture between affiliates of Banyan Street Capital and Oaktree Capital Management bought 19 Class A office assets in six states for $237 million from Parkway Properties.
Capri Capital Sells 351-Unit M-F Community in Fort Lee, NJ
The Crest at Fort Lee, a 351-unit apartment community, has been sold by Capri Capital Partners for $120 million to Pantzer Properties.
Economy Watch: Interest Rates, Inflation, Negative-Homeowner Equity
The Fed reaffirms that it would be a “considerable time” before interest rates went up. The rate of inflation and prices increased 0.1 percent in November. The national negative equity rate continued to decline in the third quarter.
TRIA Reauthorization Fails in Senate
Christmas has certainly not come early for the commercial real estate industry as the Senate closed up shop for the year without passing a TRIA extension.
INTERNATIONAL: Hyatt Sells Hotel in Vancouver, Builds New Lodging in Naha
Hyatt Hotels Corp. is selling the 644-key Hyatt Regency Vancouver and plans to develop a new Regency branded hotel in Naha, Japan.
Lennar to Develop Carolina Row Mixed-Use Project; Dilweg Completes $22M Refinancing Loan for Capital Center Office Complex
Lennar Commercial is now the new developer of the 10-acre Carolina Row at Crabtree Valley retail complex on Glenwood Avenue in Raleigh.