News
Baltimore’s Inner Harbor Welcomes its First Hyatt Place
Baltimore’s Inner Harbor is home to another hotel. Hyatt Hotels Corporation and 511 South Central Avenue, LLC, a collaboration between Englewood LLC and CG Investments, Inc., announced on Thursday, December 11, that the new Hyatt Place Baltimore/Inner Harbor is now open and ready to receive guests.
NYC Invests $3.5 Million in Fashion Innovation Hub in Sunset Park
A City-financed innovation hub is about to revive the once thriving garment manufacturing industry in New York City.
Pacific Crest Realty Acquires Koreatown Community; Valencia Residential Project in DTLA Scores $41 Million Construction Loan
Pacific Crest Realty has completed the purchase of Alexandria Apartments in Koreatown for a fee of $6 million, in a deal brokered by Kaufman Commercial for both the buyer and the seller. Located at 435 South Alexandria Avenue, the community will be renamed as Chapman Apartments as a result of the acquisition, as a nod to Charles Chapman, a developer and philanthropist who built a residence on the site in 1915. The 1927-built apartment building offers 30 one-bedroom apartments and 19 studio units. It is located near the iconic Chapman Market, the site of the country’s first drive-through grocery back in 1929.
Morgan Properties and Olayan Purchase The Preserve at Owings Crossing
Morgan Properties has acquired another large Maryaland apartment community. In a joint venture with The Olayan Group, the King of Prussia-based company purchased The Preserve at Owings Crossing, in Reisterstown. This is the joint venture’s second acquisition in 2014.
Peak Campus Adds 3,155 Beds to Management Portfolio
Peak Campus Management has been selected as the property manager for a portfolio of five properties totaling 3,155 beds near Florida State University in Tallahassee.
Economy Watch: Oil Prices, Consumer Sentiment
The price of crude oil got another downward push over the weekend. Consumer sentiment is now as high as it’s been since January 2007.
Forest City Sells Cleveland’s Halle Building for $20M
One of Cleveland’s oldest landmark buildings has changed hands. Forest City Enterprises, Inc. announced at the start of December that it has completed the sale of the Halle Building. The property was acquired by affiliates of K&D Management, LLC, for $20 million.
Nickelodeon Suites Resort Orlando Sold
In early December Urban Commons LLC purchased Nickelodeon Suites Resort Orlando hotel in Orlando.
Ridgeline Property Group Builds 714.5-KSF Industrial Property in McDonough
Ridgeline Property Group has recently announced to develop an industrial speculative building in McDonough, encompassing 714,560 square feet. Clarion Partners will be RPG’s capital partner for the project.
Robert DeNiro, Chef Nobu and Meir Teper Bring Back the Eden Roc to Miami Beach
Nobu Hotel at Eden Roc Miami Beach opens its gates to the public in the second half of next year according to a recent announcement released by Nobu Hotels and Eden Roc Miami Beach. Academy award-winner Robert DeNiro, Hollywood producer Meir Teper and Chef Nobu Matsuhisa are the owners and brand visionaries behind the project that’s main objective is to revitalize and re-launch the Eden Roc name and property.