News
TA Associates Buys M-F Portfolio in Metro Phoenix for $75M
Two apartment complexes in metro Phoenix have been purchased by TA Associates for a total of $75 million.
Economy Watch: QE3 on Its Way Out; Vegas Residential Market Still on the Mend
The Federal Reserve intends to halt QE3 altogether in October. The Greater Las Vegas Association of Realtors reported that the number of residential properties sold in conventional sales were up more than 19 percentage points year over year in June.
HCP Buys Torrey Pines R&D Building; Ariel Suites Announces Trio of Commercial Tenants
San Diego’s real estate market has once again recorded an active week, with the city’s life sciences submarket, one of its strong suites, seeing an important asset transaction, while one of the most high profile developments in Little Italy is moving forward with new additions to its tenant roster.
Partners Capital Acquires Sunset Shopping Center in Henderson
The city’s retail market is currently seeing some relief, with a rebound well underway in terms of development and acquisitions. With rents finally headed towards a positive year-on-year change, investors are once again looking toward the Las Vegas market for opportunities. A joint venture created by Partners Capital and its affiliates has now moved to acquire the Sunset Shopping Center in the Las Vegas submarket of Henderson for an undisclosed amount.
Thrive Senior Living Breaks Ground on The Tribute at Heritage Village
Thrive Senior Living plans to construct several senior living communities in the Washington, D.C. metropolitan area. The Atlanta-based developer is working on the projects together with Harrison Street Real Estate Capital, an industry leader in senior housing investment, and Palomino Capital, a Dallas-based venture specializing in platform-based growth investments. On July 1, it started work on the first property in the portfolio.
94-Unit Residential Building to Rise on Empty Lot at 810 Arch Street
With the grand opening of the JBJ Soul Homes not too far in the past, a new affordable housing complex backed by Project H.O.M.E. is set to break ground this September.
Old Fire Station in Downtown Detroit to Become The Foundation Hotel
The former Detroit Fire Department headquarters building located across from Cobo Center will no longer be an eyesore for the city thanks to a Chicago-based hotel group who wants to revive the historic fire station.
Amstar Sells $44M Retail Asset to TIAA-CREF, Lists 45-Acre Commercially Entitled Tract Cool Springs
HFF has announced the closing on the sale of the 95,000-square-foot Southside at McEwen, a high-end trophy grocery store located in the Nashville MSA. The commercial real estate and capital markets services provider marketed the Whole Foods-anchored property on behalf of the seller, Amstar. The sales team was led by managing directors Jim Hamilton and Richard Reid and senior managing director Mark Sixour.
Potential Alameda Point Developers Line Up for Development Opportunities as Initiative Gains Momentum
Local authorities have long tried to get a major development project going at former Navy base, Alameda Point. Currently, nine different development teams have submitted their applications in response to a request for qualifications, in order to have a shot at working on the 82-acre parcel located on San Francisco Bay. The list of applicants is currently under review by local authorities. The city previously issued a request for quotation (RFQ) for a 68-acre residential and commercial mixed-use project along the main entrance to Alameda Point.
Executive Spotlight: Josh Champion, Carroll Organization
Since joining the Carroll Organization three years ago, Josh Champion has dived headfirst into the task of growing its multi-family investment portfolio, now valued at more than $1 billion.