News
AFL-CIO Housing Investment Trust Provides $33M for 259-Unit Apartment Complex
The AFL-CIO Housing Investment Trust recently announced it has provided $33 million in pension capital funding for the construction of Five 15 on the Park, an apartment complex in Minneapolis.
Volkswagen Taps JLL as Exclusive RE Service Provider
Volkswagen Group of America has appointed JLL as its exclusive provider of real estate services, including integrated facility management, transaction management, lease administration, strategic consulting and project management.
Economy Watch: Employment Metrics Decent in March; Oil Imports Declining
Most categories of employment saw some kind of net increase during March. Total net crude oil imports fell during 2013 to 10.2 percent, the lowest level since 1996.
San Antonio’s Shavano Centre III Listed For Sale Through Marcus & Millichap
Marcus & Millichap recently announced they’ve been chosen by a San Antonio developer to market for sale the office building known as Shavano Center III. Scott Ryan, an associate vice president investment is responsible with the transaction. The listing’s price is $12.5 million, $197 per square foot.
Stirling Properties Acquires 256-Unit Luxury Apartment Complex
Stirling Properties has announced the acquisition of Ansley Place, a 246-unit luxury apartment community located in Houma, LA.
Multifamily Picks Up: TruAmerica Buys, Berkadia Finances Seattle Properties
The Pacific Northwest has seen an upswing in activity in its multifamily market during the first quarter of 2014, with residential deals and projects taking the center stage in a market that was very focused on its office sector. This past week has seen TruAmerica Multifamily acquire a West Seattle residential complex, part of a partnership with Intercontinental Real Estate Corporation. The buyer paid a fee of $27 million for the Westhaven Apartments. The move is part of the investor’s strategy of amassing a $1 billion real estate investment portfolio by the following year.
Akron Children’s Hospital Celebrates Topping Out of New Critical Care Tower
Akron Children’s Hospital first announced its plans to build a $200 million expansion of its downtown Akron campus in the summer of 2012. Called Building on the Promise, the project broke ground some months later, on May 30, 2013. Just a few days ago it reached another important milestone.
Wood Partners’ Alta Heights Shows Strong Leasing; JV Buys Westchase Office Building
Wood Partners, L.L.C., one of the nation’s most active multifamily developers, announced that its Alta Heights apartment community in Houston is almost 70 percent occupied. Since the community opened its doors four months ago, it has leased 173 of the 256 available units.
Hines Unveils Design of New Office Tower in Victory Park
Hines plans to add a new 23-story office tower to Dallas’s vibrant Victory Park district. Located in the heart of Dallas at the intersection of Interstate 35, the Dallas North Tollway and Woodall Rodgers Freeway, Victory Park is home to over 1,000 residences,
Northchase Office Park in Raleigh Welcomes New Tenant
Phillips Architecture has recently relocated to the newly renovated Northchase office park on SIx Forks Road in Raleigh.