News
Del Monte Warehouse in Alameda Set to Become New Mixed-Use Project by Tim Lewis Communities
Redevelopment is always a hot topic, especially when landmarks are involved. Tim Lewis Communities is reportedly set to breathe new life into an Alameda staple and turn it into a mixed-use community and new space on nearby land. Located along the Oakland-Alameda Estuary, the waterfront property in question is a former Del Monte warehouse that will be turned into a new community.
W.P. Carey Inc. Acquires $48 Million Distribution Facility
W.P. Carey Inc. recently announced it has acquired an 824,624-square-foot distribution facility just outside of Chicago. The property was purchased from Exeter Property Group for a total acquisition price of approximately $48 million.
ViaWest Opens New $208 Million Data Center
ViaWest has recently opened its latest Denver-area data center in order to meet the growing demand from companies for cloud computing.
International Campus AG, Stichting DUWO Develop Student Housing, Studios in Netherlands
In its first international venture, International Campus AG has partnered with Stichting DUWO for the financing and development of student housing and studios targeting young professionals in the Netherlands.
FirstService Residential Realty Completes Management Buyout
FirstService Residential Realty, a national property management company based in Austin, has been purchased by its executive managers and is changing its name to The Rockbridge Group.
Chatham Lodging Closes $1.3B JV Hotel Portfolio Purchase
Chatham Lodging Trust, in a new joint venture with NorthStar Realty Finance Corp., has completed the two-part, $1.3 billion acquisition of the 51-property former Innkeepers USA Trust hotel portfolio.
Greystar Closes on $800M Multifamily Acquisition Fund
Greystar Real Estate Partners has closed its Greystar Equity Partners VIII, a discretionary commingled fund focused on the acquisition of value-add multi-family assets in the United States.
Economy Watch: Service Sector Revenues Mixed in Q1; Federal Budget Deficit Continues Falling
U.S. service sector revenues increased for certain industries, while other industries, including real estate, didn’t fare as well. The federal budget deficit continued to decline in May.
City Planning Commission Green Lights First Holiday Inn Hotel in Downtown Pittsburgh
In a 6-0 vote, the City Planning commission has approved the construction of the proposed eight-story, 99-key Holiday Inn hotel in downtown Pittsburgh.
Philadelphia 76ers Will Finally Have Their Own Training Center, But in Camden
The Philadelphia 76ers will break ground on a new practice facility and headquarters building along the Camden waterfront in New Jersey.