News
Griffis Residential Acquires 288-unit Apartment Community in Aurora for $40.8 Million
Denver-based Griffis Residential recently announced the acquisition of the City Lights apartments. Located in Aurora, Colorado near the Fitzsimons Medical Campus, the Class-A community features 288 units and was purchased for $40.8 million.
SolarCity Expands to Nevada, Will Serve Metro Las Vegas Starting this Fall
The emergence of solar power as a viable option of fueling residences during recent years has been a lucrative enterprise in the California and Arizona, two of the sunniest states in the entire country. Now, Nevada is seeing serious interest from one of the largest companies committed to raising the profile of the alternative energy method of powering homes. SolarCity recently announces that it is vastly expanding its operations in the state of Nevada, and its push will begin with residences in the city of Las Vegas and the neighboring area.
Hospitality 3 Announces Study Hotels Concept for Philadelphia’s University City
Hospitality 3, a hotel and real estate development company with offices in Manhattan and New Haven, CT, is set to break ground on a new hotel facility in West Philadelphia.
GM Breaks Ground on New Race Development Center in Pontiac
More than one year after announcing a $200 million investment to build a new 138,000-square-foot test wing in suburban Detroit, General Motors broke ground on a race engine design and development facility at its world powertrain headquarters in Pontiac, MI, the company announced recently.
Apartment Redevelopment Project in Downtown Pittsburgh Nears Completion
Red Rocks Group is converting the 19th century building at 121 Seventh St. in downtown Pittsburgh into 40 loft-style apartments.
$95M Sale of Elliston 23 Breaks All Records in Nashville Apartment Market
Franklin, TN-based Southern Land Company has announced the sale of Elliston 23 Apartments to Dayton, OH-based The Connor Group for $95.1 million.
Microsoft Helps Boost Detroit’s Tech Neighborhood
Advancing Detroit’s reputation as a burgeoning technology cluster, Microsoft has committed to setting up shop at the M@dison Building, Rock Ventures’ five-story office building that serves as the anchor of the M@dison Block, the city’s high-tech entrepreneurial corridor.
HSBC-Led Group Lends $332M for Bal Harbour Luxury Residential Tower
Consultatio Real Estate has received a $332 million loan from a consortium of banks led by HSBC to develop Oceana Bal Harbour, a planned 240-unit luxury residential development in Miami’s Bal Harbour village.
Executive Spotlight: Jeff Hanson, American Healthcare Investors
When it comes to skin in the game, Jeff Hanson and his colleagues at American Healthcare Investors, the co-sponsors of Griffin-American Healthcare REIT II, are leaders of the pack.
KBS, Savanna Buy 110 William St. in Manhattan for $261M
Savanna and KBS Capital Advisors will make “comprehensive capital improvements” to 110 William St., the 32-story office building they have acquired from Swig Equities and the Dubai Investment Group.