News
Core Capital, Downtown Properties JV Buys 150-Key Hyatt Place San Diego
A joint venture affiliated with Core Capital Investments and Downtown Properties has acquired the 150-key Hyatt Place San Diego from an entity controlled by ABA Development.
Rollins Out, Kahlbaugh In as Campus Crest Begins Strategic Repositioning
Campus Crest Communities is stopping its construction activities and moving ahead with a major acquisition in a shakeup at the REIT that included the resignation of CEO and company co-founder Ted Rollins and CFO Donnie Bobbitt.
Economy Watch: Employment, Seniors Housing Builders, GSEs
The U.S. economy created 214,000 jobs in October. Builder confidence in the seniors housing market was up again in the third quarter. Freddie Mac has “drawn” $71.3 billion from the Treasury.
Software Developer to Lease Office Building at Baton Rouge Airport
More and more software development companies are coming to the Baton Rouge area. Shreveport-based EDgear is one of them. Last month, the company announced its plans to expand its operations at the Baton Rouge Metropolitan Airport.
Univeristy of Arizona Completes Phase One of Solar Testing Facility
Tech Parks Arizona recently celebrated the completion of Phase One of Solar Zone at the University of Arizona Tech Park. The project, a partnership between UA and Tucson Electric Power, is one of the largest multi-technology solar testing and demonstration sites in the world.
Canyon Gate Takes on Four New Communities in the Past Five Months
An Associa company, Canyon Gate added to its community management portfolio three more communities since August; a fourth one will be joining in December. Canyon Gate will provide to all of them the full array of management services, including financial, community management, communications, record-keeping, and administrative services.
Atlas Buys M-F Portfolio Throughout Sunbelt Region
For a solid return on investment, Atlas Apartment Holdings has grabbed 20 multi-family properties throughout Texas, Florida, Georgia, North Carolina and South Carolina.
URS Capital Partners Buys 228-Unit M-F Community in Fairfield
On Tuesday, November 4, URS Capital Partners announced the acquisition of another apartment community. It is called Creekside Village and it is located in Cincinnati’s Fairfield submarket. URS Capital Partners did not disclose the price of the transaction.
Capitol Technology University Breaks Ground On Residence Hall in Laurel
On October 22, Capitol Technology University, formerly know as Capitol College, broke ground on a new residence complex located on the school’s 52-acre campus in Laurel. When finished, it will house 300 undergraduate students.
Financing In Place for Gaslamp Quarter Hotel, Montage’s 1st Pendry-Branded Property
Construction financing for a new Montage-branded hotel in San Diego is finally in place. George Smith Partners recently announced that the firm has arranged around $95 million in funding for a partnership consisting of The Robert Green Company and Montage Hotels & Resorts. The venture is planning a brand new property in the city’s downtown Gaslamp Quarter, one of the hospitality hotbeds in San Diego. The hotel development is a $138 million project that will be used as the official debut of the hospitality operator’s latest brand.