News
International: Nobu Hospitality Expands into London with New Hotel
The luxury hospitality brand will be developing its first European hotel – the Nobu Hotel Shoreditch London – which is currently under construction, slated to open in the first quarter of 2016.
SL Green Refinances Manhattan’s 388-390 Greenwich St. for $1.4B
SL Green Realty Corp. has refinanced 388-390 Greenwich, the 2.6 million-square-foot Manhattan office complex occupied in its entirety by an affiliate of Citigroup Inc., to the tune of $1.45 billion.
KDC, State Farm Break Ground for 17-Acre M-U Project in Dunwoody, Ga.
KDC has begun construction on Park Center, its new 17-acre master-planned project in the Perimeter Center area of Dunwoody, Ga.
ARCP to Grab Red Lobster RE in $1.5B Sale-Leaseback
As part of Golden Gate Capital’s acquisition of the Red Lobster chain from Darden Restaurants, American Realty Capital Properties will buy more than 500 Red Lobster restaurant properties and lease them back to GGC.
Nation’s Only Downtown Outlet Center Opens in New Orleans
The Howard Hughes Corporation’s much anticipated The Outlet Collection at Riverwalk is gearing up for its Memorial Day Weekend grand opening. Set to welcome shoppers from May 22, Riverwalk will be the only downtown outlet center in the U.S.
Economy Watch: Housing Starts Gain Ground in April; State Unemployment Rates Mostly Down; Consumer Sentiment Drops
Private housing starts went up 13.2 percent in April compared to March. State unemployment rates were generally lower in April. The mid-May Reuters/University of Michigan consumer sentiment index was 81.8, down from 84.1 at the end of April.
Executive Insights: Michael McNally, Southern Land Co.
Southern Land Co. recently rocked the Nashville real estate market with the $95.1 million sale of Elliston 23 Apartments, a mixed-use luxury multi-family development, which it owned in a joint venture with institutional investors advised by J.P. Morgan Asset Management. Vice president of mixed-use development Michael McNally Jr. talks about what the sale means for the company and for the white-hot Nashville apartment market.
Terreno Buys Industrial Building in Capitol Heights for $18.1M
Terreno Realty Corporation continues to add new properties to its Suburban Maryland portfolio. In a transaction which closed on May 13, the San Francisco-based company has acquired another industrial building. The purchase price was approximately $18.1 million.
AC Development Breaks Ground on M-U Stonebridge Village Project; Hunt Properties Starts Work on Shawnee Marketplace
Local officials and developers recently gathered for the ground breaking ceremony of the Stonebridge Village development in Enid, Oklahoma.
Standard Pacific Launches New Community in Phoenix; Broadstone Camelback Awarded LEED Platinum
California homebuilder Standard Pacific Homes has officially launched its newest gated community in Phoenix.