News
Canyon Capital Realty Expands Portfolio with the Purchase of Two Apartment Communities in Suburban Chicago
Canyon Capital Realty Advisors, the real estate direct investing arm of Canyon Partners, LLC, a Los Angeles-based investment and management company with roughly $24 billion in assets, recently announced the purchase of two suburban Chicago-area apartment communities, the Preserve at Carol Stream and Eagle Creek in Westmont, IL.
Lowe Enterprises Acquires 360-Unit St. Moritz Apartment Community in the Denver Area
Lowe Enterprises Investors (LEI), a Los-Angeles based provider of real estate investment and services and a subsidiary of Lowe Enterprises recently announced it has purchased the St. Moritz apartment community in the North Lakewood area of Denver, in joint venture with an investment client.
TIAA-CREF Buys 21 Penn, 2 Herald Square in Midtown Manhattan
The buying spree by TIAA-CREF is so fast and furious lately that the latest deal was actually two of them.
DiamondRock Buys Westin Florida Property for $149M
DiamondRock Hospitality has acquired the fee simple interest in The Westin Beach Resort & Spa, Fort Lauderdale, for $149 million.
M-F Development Thrives Across Cincinnati Region
Multifamily development is on the rise in Cincinnati. Thanks to the improved employment growth, rising household incomes and strong apartment operations, many developers are building or looking to build apartments in the Cincinnati area.
Federal Realty Investment Trust to Start Work on Phase II of Pike & Rose
Federal Realty Investment Trust announced at the end of October its plans to soon start work on Phase II of Pike & Rose, a new, pedestrian-oriented, mixed-use neighborhood in Montgomery County. On Tuesday, November 18, the company will hold a ribbon cutting ceremony to celebrate the official grand opening of Phase I and to mark the start of Phase II.
Economy Watch: Housing Starts; Economic Activity
Private U.S. housing starts in October were down 2.8 percent compared to last month. The Federal Open Market Committee concluded that U.S. economic activity continued to expand at a “moderate pace.”
Three Class A Office Buildings in Northern Virginia Change Hands
Three more Northern Virginia Class A office buildings have recently changed hands. The properties are located in Reston and Herndon.
PM Hospitality Set to Operate New Portland Hotel, Part of Hilton’s Most Recent Brand
The growing appeal of the Pacific Northwest means that more companies are looking to establish a presence in the region. Hospitality has been a huge component in the conversation regarding major cities in the area, such as Seattle and Portland. The two largest cities in the Pacific Northwest are currently both looking for options to increase the amount of convention space and the number of rooms that could accommodate the growing amount of tourists and business travelers. The latest hospitality company announcing an expansion in the area is PM Hospitality Strategies, Inc., with the company being selected to operate a new Canopy by Hilton facility in Portland’s Pearl District.
Insight Property Group Opens 240-Unit Shelby Apartment Community in Alexandria
Insight Property Group has added another apartment community to the Washington, D.C. metro area. It’s called The Shelby and it features 240 luxury residences.