News
Lerner Starts Vertical Construction of State-of-the-Art Office Tower in Tysons Corner
Lerner Enterprises announced last week it started construction on 1775 Tysons Boulevard, an 18-story state-of-the-art office tower in Tysons Corner. The project is expected to be completed in late 2015. It will be the fifth premier office tower within The Corporate Office Centre at Tysons II master planned development.
Tax Credit Housing Gets $14M Financing From Magna Bank and Metropolitan Bank
Magna Bank and Metropolitan Bank have engaged in $14 million of financing for the Second Phase of Crescent Bluff Apartments affordable housing project in the South Main district of Memphis, announced developer Elmington Capital Group
CSM to Reinvent Phoenix Office Building as Select-Service Hotel; W.P. Carey Pays $23M for Avnet HQ In Tempe
CSM Lodging, a division of CSM Corporation, plans to revamp the historic Professional Building – the former Valley Bank & Trust building – in downtown Phoenix, and turn it into a premium select-service hotel.
Silicon Valley Office Portfolio Yields $200M in Financing for Carl Berg
NorthMarq arranged financing for an unencumbered, 711,000-square-foot office portfolio in California’s Silicon Valley through Prudential Mortgage Capital Co.
CBRE Adds Environmental Firm to European Consulting Group
The acquisition of VALTEQ is the latest in a series of major moves by CBRE in Europe.
EPA, Freddie Mac Team Up on Energy Efficiency Plan
The agencies will examine how energy efficiency boosts affordability in multi-family assets financed by Freddie Mac.
Economy Watch: GDP Growth Strengthens; Home Sales Fall, Jobless Claims Rise
Real GDP increased at an annualized rate of 3.2 percent during the fourth quarter, according to preliminary figures from the Bureau of Economic Analysis.
As Winter Olympics Near, Marriott Opens 428-Key Hotel Close to Sochi Venues
As visitors from around the world prepare to converge on Russia’s Sochi resort region for the Winter Olympics next week, Marriott International Sochi Marriott Krasnaya Polyanahas opened the 428-key Sochi Marriott Krasnaya Polyana Hotel near the Krasnaya Polyana Mountain Cluster, one of the two main Olympic locations.
Trade Street Residential Acquires Newly Completed, 288-Unit Apt. Property for $37.2M
Trade Street Residential, Inc. of Aventura, Fla. has recently announced it paid $37.2 million to acquire The Estates at Wake Forest, a newly constructed 288-unit apartment community located at 1524 Woodfield Creek Drive in Wake Forest.
Renaissance Tampa Gets in U.S. News’ 2014 ‘Best Hotels’ Ranking
Renaissance Tampa International Plaza Hotel earned a place among the best hotels in the Sunshine State in, according to U.S. News & World Report’s 2014 list. The publication honours properties that are renowned in the travel industry for their luxury amenities and quality customer service.