News
Rubell Hotels Reopens Historic Lord Baltimore Hotel, Following Multi-million Dollar Restoration
The Lord Baltimore Hotel officially reopened on Thursday, March 27, following a restoration project that brought the old building back to life. Baltimore City Mayor Stephanie Rawlings-Blake, Baltimore City Councilman William Cole and other dignitaries attended the ribbon cutting ceremony.
Philadelphia Advances Strategic Plan to Create 1,500 New Low-Income Apartments
A new housing plan that is expected to create more affordable units in gentrifying neighborhoods throughout Philadelphia was announced recently by the City Council.
Detroit Launches RFP for Housing, Office and Retail Project at Old Tiger Stadium Site
Detroit officials have big plans for Corktown, one of the oldest residential areas in the city and a symbol of the Irish-American community in the region. The site of the Tiger Stadium, the neighborhood’s most famous attractions—or what’s left of it, as the place was demolished in 2008—is about to be converted into a vibrant urban development that will honor the history of the site while also serving as a new tax base for the city.
City Vista Apartment Community in Pittsburgh Nears Completion
Construction has begun on the last building of the 272-unit City Vista apartment complex behind Parkway Center Mall in the city’s suburban area, the Pittsburgh Business Times reports.
Centerline Arranges $10M Loan for 210-Unit Antioch Community
Centerline Capital Group, a provider of real estate financing services for market-rate and affordable multifamily housing has recently provided a $10.4 million Freddie Mac conventional loan to refinance Cedar Pointe Apartments, a 210-unit multifamily asset in the Greater Nashville Area.
Equus Capital Partners Acquires 558-Unit M-F Portfolio in Suburban Minneapolis
Private equity real estate fund manager Equus Capital Partners Ltd. recently announced that its affiliates have acquired a multifamily portfolio featuring two properties located in suburban Minneapolis. The communities were purchased from Henderson Global Investors and will be managed by the multifamily operating arm of Equus: Madison Apartment Group L.P.
Embrey Partners Starts Work on Infill TOD in Richardson
San Antonio-based Embrey Partners, Ltd. has commenced construction of GreenVUE, a Class A, transit-oriented development in the heart of the Telecom Corridor.
Equity One Sells 172 KSF Shopping Center in Augusta, Ga.
Leading shopping center developer and owner-focused on urban communities Equity One has sold Daniel Village, a 172,438-square-foot grocery-anchored shopping center in Augusta, Ga.
Pantzer Properties Buys Pentagon City Apartment High-Rise for $101.1M
A high-rise apartment community in the heart of Pentagon City has recently changed hands in one of the D.C. area’s largest residential transactions of the year. Pantzer Properties paid $101.1 million to acquire The Bennington from The Carlyle Group and The Bainbridge Companies. The New York-based firm purchased the property through its Panco Strategic Real Estate Fund II, LP.
Wateridge Plaza Sale Leads Flurry of Office Trades; AleSmith Brewing Opts for Bigger Home
The local commercial real estate market once again proved its appeal as while a major, $72 million deal was being struck for the Wateridge Plaza in Sorrento Mesa, two smaller office assets also traded hands in the passing week. The two more low-key transactions were completed in the Carmel Mountain Ranch and Solana Beach submarkets.