News
Harrison Street Sells 22 Self-Storage Properties for $223M
Harrison Street Real Estate Capital has sold 22 self-storage properties totaling 1.7 million square feet to CubeSmart as the first part of a $223 million, two-tranche deal.
EXCLUSIVE INTERVIEW: M-F Market to Stay Strong as GDP Expansion Peaks in 2015
According to the National Association of Home Builders, the economy is back on track, and economic growth will accelerate further into next year. Will that mean the multi-family market will strengthen further?
Economy Watch: Existing Home Sales; Thanksgiving Travel
Total existing U.S. home sales rose 1.5 percent in October month over month. A greater number of Americans are predicted to travel this year for Thanksgiving.
ARA Real Estate Investment Services Brokers Sale of 320-Unit Apartment Community
ARA Real Estate Investment Services, on behalf of Philadelphia-based Lubert-Adler Partners, recently helped with the sale of Tiburon, a 320-unit, Class A apartment community in Houston. The asset was acquired by a private individual for an undisclosed amount.
Urbana Varro Acquires 311-Room Sheraton Arlington Hotel
Urbana Varro, a Dallas-based commercial real estate investment, development and management firm, recently announced the acquisition of the full-service, 311-room Sheraton Arlington Hotel in Arlington, Texas. The asset, which was acquired for an undisclosed amount, is located near the Arlington Convention Center, the AT&T Stadium and Globe Life Park.
Pechanga Resort & Casino in Temecula to Get $285M Expansion
The owners of the Pechanga Resort & Casino in Temecula, CA is set for a major expansion as the Pechanga Band of Luiseño Indians recently revealed plans for a major investment. Plans call for around $285 million luxury four-diamond hotel wing that would greatly expand the potential of the resort.
C&W: NY’s Upper Fifth Avenue Breaks Record for World’s Highest Retail Rents–Ever
It may be debatable that New York City is the best place in the world for shopping, but it is a matter of fact that Gotham’s Upper Fifth Avenue is the most expensive.
Chambers Street Acquires Industrial Portfolio in NE Pennsylvania
Chambers Street Properties has acquired a four-property,1,644,480 million-square-foot portfolio located in the Northeast Pennsylvania industrial market for $106 million.
Cypress Equities’ Ambitious Redevelopment Project Market Street Place Breaks Ground
One of the most interesting urban redevelopment projects in San Francisco has finally broken ground. Aiming to redevelop the area on Market Street between 5th and 6th Streets, Cypress Equities’ Market Street Place is set to become a multi-level retail center that will offer a new hub for shoppers in the area. With the project finally in the construction phase, the development is currently set for an opening in the fall of 2016.
Kislak Group Buys Southwest Las Vegas M-F Asset for $29.3M
As the Kislak Organization recently completed the acquisition of a multifamily property in the city of Las Vegas, signs seem to be pointing toward a more dynamic real estate market than most thought. The national real estate investment firm based in Miami Lakes, Florida recently paid a total of $29.3 million for the Alicante Villa Apartments.