News
Emaar Properties JV to Develop RE Projects in Saudi Arabia
Abdul Latif Jameel and Emaar Properties have officially gone into business together, looking to develop a number of projects in the Kingdom of Saudi Arabia.
Hines Acquires a Portion of The Rim Outdoor Retail Center
By Anca Gagiuc, Associate Editor
The Northwest San Antonio is developing at very high speed. The latest acquisition is evidence of high interest coming from the investors – Hines Global REIT, Inc. announced it purchased the retail interest of Georgia-based Thomas Land & Development in The Rim, the largest outdoor retail center in Texas.
Blighted Nursing Home to Become Low-Income Housing
Another Katrina-marred building might finally be returned to use, after developers of an efficiency apartment project received funding approval from the state Bond Commission
NorthEdge Office Development in South Lake Union’s Wallingford Fast-Tracked by Touchstone
A number of projects in the booming submarket of South Lake Union have raced to the development process, while others have lingered in the early stages of planning. Now, a project that had been long-announced is reportedly being fast-tracked by the company in charge. Developer Touchstone recently announced that it will put the pedal to the metal on its NorthEdge, a commercial real estate development project that had been in limbo for a while.
Beachwood’s Four Seasons Enters Final Stretch of Campus Expansion Project
The Four Seasons is a luxury gated apartment community in Beachwood. It is owned by Cleveland’s Goldberg Companies, Inc., and is currently undergoing an expansion project that will provide several state-of-the-art amenities to current and future residents. The project is scheduled for completion this spring.
URS Capital Partners Sells Two Cincinnati-Area Apartments
URS Capital Partners, a real estate investment company based in Huntington, New York, has completed the sale of two multifamily properties in the Cincinnati area, at the end of January. The two properties are the Westshore Apartments, in Covington, and the Incline Apartments in Cincinnati’s Incline District.
Terramar, Studley Sell 618 KSF Shopping Center in Santa Clarita, Calif.
Terramar Retail Centers, with the help of Studley, has sold a 618,000-square-foot regional shopping center in Santa Clarita, Calif. through its subsidiary, GMS Golden Valley Ranch.
Stream Realty Partners Gets Financing for Power Center in Houston Area
Stream Realty Partners has received joint venture equity and construction financing for a 165,000-square-foot power center development in Pearland, Texas.
Rooker Buys 90-Acre Mall Site in Atlanta for Redevelopment
Atlanta-based real estate development and construction company Rooker plans to buy a 764,000-square-foot mall on a 90-acre site in Union City, Ga., and redevelop the property.
Modus Hotels Relaunches Brookshire Suites in Baltimore
At the end of 2012, Modus Hotels announced the purchase of the Brookshire Suites in Baltimore’s famous Inner Harbor. The Washington, D.C.-based full service hotel development and management company paid $7.85 million for the property, according to PropertyShark. In the weeks that followed the announcement, it started work on a multi-million dollar renovation project, to breathe new life into the old building, originally constructed in 1958.