News
Moody National REIT Acquires Hilton Garden Inn
The previously announced intention of Moody National REIT to purchase the Hilton Garden Inn Austin NW/Arboretum has come to fruition. Holliday Fenoglio Fowler has announced closing the sale after having exclusively marketed the property on behalf of the seller. Moody National REIT has purchased the hotel free and clear of existing debt.
Economy Watch: Job Gains Point to Higher Demand for Most Property Types
December turned in a strong report, with an addition of a net of 252,000 jobs nationwide, but it’s also a good report for various commercial real estate sectors.
KBS Sells One Main Place in Portland CBD
One Main Place, one of the properties in Portland’s Central Business District, recently traded hands. KBS Real Estate Investment Trust II received a fee of $86.3 million for the property located along the waterfront of Portland’s CBD. According to Asset Manager and KBS Senior Vice President, Mark Brecheen, the seller “originally acquired the property for $54 million”. The transaction was brokered by an Eastdil team consisting of Stephen Van Dusen, Jason Flynn and Darwin Rodriguez, on behalf of the seller.
Rosemont Apartment Complex Fetches $10.4 Million
Waterstone Apartments a 208-unit community changed hands for $10.4 million or $50,000 per unit, Franklin Street Real Estate Services announced in a recent news release.
German Company Invests in Austin
German investors’ interest in the U.S. commercial real estate market continues unabated, and Munich-based GLL Real Estate Partners GmbH’s acquisition of Prominent Pointed I & II in Austin is among the latest evidence.
Cincinnati Launches CoreFour Program to Boost Housing Development
The city of Cincinnati is attempting to boost housing in eight of its neighborhoods. Last week, it launched a new pilot program that will help any developer working on homeownership and rental projects.
JANUARY ISSUE: Campus Crest’s Renaissance
As 2015 begins, Campus Crest Communities Inc. has several big items on its to-do list.
INTERNATIONAL: Central Equity Expands in Melbourne with Another Development
A leader and pioneer in Melbourne’s residential market, Central Equity continues to spread its wings in the city by tapping Brookfield Multiplex to build a residential tower in its CBD.
TRIA’s Progress Gives CRE Industry One More Reason for Optimism
The U.S. Senate’s passage of legislation reauthorizing the Terrorism Risk Insurance Act, on Thursday, has relieved a source of anxiety for the CRE sector as the new year begins.
HFF Arranges $32 Million Loan for New Ace Hotel in Chinatown
The ten-story building that housed the Salvation Army Chinatown Community Shelter is set to be redeveloped into a new Ace Hotel.