News
$94M David Whitney Building Redevelopment Brings Apartments, Hotel to Detroit Hotspot
The redevelopment of Detroit landmark The David Whitney Building is now complete, after more than three years in the making. Following an investment of $94.5 million, the now fully-renovated structure features 108 apartments at The Residences and a 136-key Aloft hotel.
PANYNJ Considers Selling RE, One WTC
Port Authority of New York and New Jersey officials are talking about possibly selling some of its real estate, including One World Trade Center.
Berkshire Group Grabs 325-Unit M-F Asset in Dallas’ Medical District
Berkshire Group wraps up a busy year of buying with the acquisition of Aura Medical District, a 325-unit apartment community in Dallas’ booming medical cluster.
Nakash Holdings Buys The Setai Hotel in South Beach
Nakash Holdings, the investment company controlled by the founders of Jordache Enterprises and famous for its Jordache jeans, is expanding its hospitality holdings in Miami with the acquisition of The Setai Hotel.
ARCP Board Outlines Priorities, Announces Lender Deal
Maybe it was a way of trying to be low profile, or maybe it was only what it was, but last Wednesday, Christmas Eve, American Realty Capital Properties Inc. set out its board’s priorities and announced that it has concluded an evaluation of its portfolio properties.
Time Equities Acquires 380 KSF Shopping Center in Monroe, N.C.
Time Equities has acquired Monroe Crossing Shopping Center, a 379,630-square-foot regional shopping center in Monroe, N.C., from Madison Marquette.
Economy Watch: Holiday Retail Sales, Freddie-Mac Delinquencies
Holiday retail sales between Thanksgiving and Christmas increased 5.5 percent this year. Freddie Mac reported that its single-family serious delinquency rate was unchanged in November month over month.
Lexerd Buys 354-Unit Foxfire Apartments in Durham; Berkshire Group Breaks Record with $76.8M Apt. Purchase from Crescent Communities
Private Equity Firm Lexerd Capital Management LLC has announced the purchase of Foxfire Apartments, a 354-unit apartment community in Durham, NC.
Starwood Opens 300-Key Le Méridien Charlotte in Former Blake Hotel
Charlotte has welcomed the city’s first Le Méridien, with the opening of the 300-key Le Méridien Charlotte at 555 South McDowell Street, in the North Tower of the former Blake Hotel.
INTERNATIONAL: IMMOFINANZ Breaks Ground on Office Development in Bucharest
IMMOFINANZ Group has started site work on the Metroffice, a new office development project in the heart of the Romanian capital.