News
Oakhaven Apartments Sold for $2.5M; Owner Files $22M Loan on Collierville Community
Somerset Park Apartment Homes, a 496-unit apartment community in Oakhaven has been recently sold for $2.5 million
Holiday Inn Resort Lake Buena Vista Sold
ROCH Capital has recently acquired the Holiday Inn Resort Lake Buena Vista from Vista Hospitality Company. The new owners commissioned Portfolio Hotels to manage the asset.
Two Norcross Communities Get $22M Bridge Loan for Renovations
Centre at Peachtree Corners and Summit at Dawson obtained a $22 million bridge loan that will facilitate the exterior and interior renovation, as well as the reposition of the two residential properties into affordable Class A assets. Pembrook Capital Management LLC closed the transaction on behalf of the borrowers, Five Mile Capital’s joint venture with Audubon Communities.
Luxury Condos at The Edge on Brickell Hit the Market
The Edge on Brickell condominium has announced that it is launching sales. The project is the only new luxury residential development on the waterfront of Miami River.
RLJ Lodging Trust Sells Holiday Inn Austin NW Arboretum Area for $13.5 Million
One of the hotels nestled in the hills of northwest Austin has left RLJ Lodging Trust’s portfolio. Details about the transaction have not been disclosed.
Thor Equities Adds to Manhattan Footprint with $590M Deal for 530 Fifth Ave.
The sale price is $200 million more than Rockwood Capital, Jamestown, Murray Hill Properties and Crown Acquisitions paid when the building last traded in January 2012.
JV Formed for Half-Billion-Dollar Redevelopment of Chicago’s Old Post Office
It’s not mail that will be delivered from the Old Post Office in Chicago a few years from now. It will be office space, retail space and much more.
Zephyr Partners Plans $250M High-Rise Development on Full Block in Downtown San Diego
Zephyr Partners is planning a $250 million mixed-use development in one of the last remaining full blocks of available property in the city’s downtown.
Patrinely Group, CDC Houston and USAA Real Estate Team on 60-Acre Houston Mixed-Use
CityPlace will integrate more than four million square feet of Class A office space located above ground floor retail, luxury multi-family and a full-service hotel.
Economy Watch: Millionaires’ Ranks Grow; Conference Board’s Indexes Rise
The millionaire boom comes against a backdrop of increasing aggregate wealth worldwide, according to a report from Boston Consulting Group.