News
Sunstone to Acquire 544-Key Maui Resort for $326M
Sunstone Hotel Investors has entered into a definitive agreement to acquire the 544-key Wailea Beach Marriott Resort & Spa for $326 million, or $598,600 per key, from an affiliate of Blackstone Real Estate Partners IV.
Economy Watch: Most States See Unemployment Rate Drop Since Last Year; Household Debt-to-Income Ratio Drops to New Lows
Forty-nine states and D.C. saw unemployment rate decreases from a year earlier. U.S. household debt service ratio hit a record low in the first quarter of 2014.
Downtown D.C. Housing Market Continues Strong Performance in May
Downtown Washington, D.C. is one of the ”brightest spots in the country for home sales and appreciation rates.” This is how Donna Evers, president and broker of Evers & Co. Real Estate describes the region. Her company is the largest independent, woman-owned real estate firm in the Washington, D.C. metropolitan area. It has recently analyzed statistics from the Metropolitan Regional Information System and has reported that the Downtown Washington, D.C. housing market has enjoyed a merry month of May.
CPE Collects Multiple Honors in 64th NAREE Awards
Commercial Property Executive netted multiple awards at this year’s National Association of Real Estate Editors 64th annual real estate journalism competition. The awards were announced during a reception on June 13th, during NAREE’s 48th annual Real Estate Journalism Conference in Houston.
ASLA’s Chinatown Green Streets Demonstration Project to Help D.C. Become Nation’s Greenest City
The American Society of Landscape Architects is greening the District’s streets. Well, not all of them, just the ones surrounding its headquarters, in Chinatown. ASLA is working on the Chinatown Green Streets Demonstration Project, a project meant to help the District become one of the greenest cities on the planet.
Equus Capital Partners Takes 2 Scottsdale Office Buildings for $44M
By Liviu Oltean, Associate Editor Equus Capital Partners, Ltd. recently expanded its Scottsdale footprint with the $44.1 million acquisition of two Class A office properties for $44.14 million, 92 Mountain View and Scottsdale Gateway I. Totaling 223,131 square feet of space, the two-story buildings had a 96 percent occupancy rate under the previous ownership of […]
Iconic 530 Fifth Avenue Building Changes Hands for $595 Million
530 Fifth Avenue, one of Manhattan’s iconic office buildings, will change ownership in less than three months.
Boston Residential Development Plans 44-Unit Luxury Building Across from the Greenway
The small parking lot on India Street facing the Rose Fitzgerald Kennedy Greenway in Downtown Boston could be replaced by a 12-story residential structure by Boston Residential Development, who recently filed a Project Notification Form with the Boston Redevelopment Authority (BRA).
Kilroy Realty Corp. Reveals Plans for Mixed-Use Project in Hollywood
One of the most active commercial real estate companies in the Los Angeles market has unveiled plans for a large creative media mixed-use office campus at the recent Hollywood Economic Development Summit. Kilroy Realty Corporation will be developing its proposed project known as The Academy on a site acquired in Q4 of 2013 from The Academy of Motion Pictures Arts and Sciences. The site is an entire Los Angeles city block located between Vine Street, DeLongpre Avenue, Ivar Avenue and Homewood Avenue.
Cardiovascular Systems to Build New Corporate Headquarters
Cardiovascular Systems Inc. recently announced plans to build a new corporate headquarters in New Brighton, Minnesota.