News
PM Hospitality Opens First Westin in Delaware
Wilmington, Delaware’s skyline is altered and its stature gets a boost with the opening of The Westin Wilmington. The brand new 180-room hotel, developed by a joint venture consisting of Buccini/Pollin Group and Westport Capital and managed by PM Hospitality Services, marks the debut of the Westin brand in the State of Delaware.
Furnished Quarters to Manage Extended Stay Hotel in the Historic 70 Pine Street Building
The 132-suite extended stay hotel at the iconic 70 Pine Street building in the heart of the Financial District will be operated by Furnished Quarters, a top provider of furnished apartments.
Bouwinvest Acquires 300 High-End Rental Apartments in Iconic Amsterdam Tower
One of the largest Dutch investment managers specializing in real estate, Bouwinvest REIM, has bought 300 high-end rental apartments within the Pontsteiger tower in Amsterdam.
International: Intu Properties Pays Westfield $1.4B for 3 UK Retail Properties
Intu Properties has paid a total of $1.4 billion for three retail centers in the United Kingdom owned by the Westfield Group.
Greater Baltimore Multi-Housing Developments Receive Funding
Two Greater Baltimore residential projects have secured financing last week, and are both now one step closer to completion. Located in downtown Baltimore and in Odenton, the two projects total more than 420 units.
$70 Million Makeover Announced for Boston’s TD Garden
Delaware North Companies, who owns and operates Boston’s TD Garden arena, announced a $70 million privately financed makeover that will begin this summer.
Vornado Completes $350M Refinancing of NYC’s 909 Third Ave.
Vornado Realty Trust has completed a $350 million refinancing of 909 Third Ave., a 33-story, 1.3 million-square-foot Midtown Manhattan office building.
Economy Watch: Initial Unemployment Claims Reaches Another Low; Yellen Talks Unemployment
Last week’s unemployment claims rate was at a post-recession low. Fed Chair Janet Yellen noted that the jobs market isn’t quite as strong as the U.S. unemployment headline number suggests, which won’t trigger higher interest rates all by itself.
Magid Glove & Safety Buys 703 KSF Industrial Building in Romeoville, Ill.
America’s leading manufacturer of hand protection and first aid, Magid Glove & Safety, has bought 1300 Naperville Drive, a 704,000-square-foot industrial building in Romeoville, Ill. for an undisclosed amount.
Twitter Chat: Walter Byrd on Free-Trade Zones & Industrial RE
Transwestern’s Southeast Managing Director Walter Byrd took time out of his busy schedule to chat with Commercial Property Executive editors about free-trade zones and industrial real estate, in 140 characters or less per Tweet