News
County Approves 716-Acre Multifamily Development Near Corona de Tucson County
The Pima County Board of Supervisors approved a development agreement with Diamond Ventures, Inc, Arizona Daily Star reports. The company is the owner of Hook M Ranch which is situated on 716 acres of land near Corona de Tucson. The development includes 1, 376 houses and 400 apartments, open space, small commercial spaces and a K-8 school for the Vail School District.
International: Georgia’s Tallest Residential Tower Rises on Black Sea Coast
Developed by locally based Tam Geo, the $80 million mixed-use Babillon Tower is rising in Batumi, a seaside resort city on the Black Sea coast and capital of Adjara, an autonomous republic in the country’s southwest region.
Parallel Acquires 384 KSF LA Area Office Tower for $102M
Parallel Capital Partners has completed a $102 million purchase of Shoreline Square in Long Beach, Calif., marking its second office acquisition in the region in just two weeks.
Cortland Partners Enters Orlando Market, Hires Local Expert
Cortland Partners recently acquired its first asset in the metro Orlando market. The firm purchased Harbor at Lake Howell, a 408-unit, garden-style community in Casselberry for $40 million. Aside from the acquisition, the company also announced that it has added John Builder to its team of experts.
Emblematic Midtown Hotel Changes Hands for $61M
Georgian Terrace Hotel has a new owner. SoTHERLY Hotels Inc. paid $61 million for the asset. The price includes an adjacent 698-space parking structure and a 0.6-acre development parcel.
Trophy Bayfront Miami Beach Multifamily Site Has New Owner
The Boca Raton office of ARA announced the sale of a 1.1-acre waterfront development site at 6800 Indian Creek Drive in Miami Beach. The company spoke for the seller, Miami-based Windsor Capital, in the transaction.
Hyatt Place Austin Downtown Purchased by Carey Watermark Investors for $87 Million
Hyatt Place Austin Downtown, the 296-room upscale select-service hotel located at 211 East 3rd Street was recently acquired by non-traded REIT Carey Watermark Investors. The hotel was ranked best in its category for the second year in a row by Business Travel News 2013 Hotel Chain Survey, and received the “Highest in Guest Satisfaction Among Upscale Hotel Chains” recognition by J.D. Power in 2013.
Luxury Home Sales Rise in Metro Cincinnati: Comey & Shepherd
2013 has been an excellent year for luxury home sales in Greater Cincinnati and Northern Kentucky, according to Comey & Shepherd Realtors, a full service real estate agency with over 60 years of experience in the area. In its recently released annual report, the Cincinnati-based company said the luxury market has not seen such levels of performance since before 2009.
FelCors Sells Charlotte Hotel for $37M
FelCor Lodging Trust Incorporated has announced entering into a $37 million sales agreement with an undisclosed buyer for the 208-key Doubletree Suites Hotel Charlotte – SouthPark as part of its portfolio repositioning plan.
Glimcher Acquires 3 Retail Centers from Chesapeake Energy in $52M Deal
Columbus, Ohio-based Glimcher Realty Trust, a real estate investment trust with a focus on retail properties, has recently announced it has completed the acquisition of approximately 290,000 square feet of open-air, mixed-use properties in the Oklahoma City market. The properties have been purchased for $51.8 million.