News
Old Tucson Studios to Undergo Major Revitalization Project
Old Tucson Company has big plans with Old Tucson Studios as they will expand the facility soon to become a multi-cultural living history educational center for southern Arizona.
Albuquerque’s Area Plans Will Be Scrutinized
City Councilor Chuck Wilkins has set a new goal for the beginning of 2014. He wants to bring clarity, simplicity, and coherence in the land-use plans the city has adopted in the recent years by having them re-examined. A series of work sessions will be held in the following weeks to investigate the plans and the proposed changes.
Seller Finances Heitman JV’s Purchase of DC Office Building
A joint venture of Minshall Stewart Properties and an affiliate of Heitman L.L.C. secured the financing from Lone Star Funds to acquire 1401 New York Ave., N.W., in Washington, D.C.
OSU Eyes 2 Historic Buildings for $53M Makeover as Analytics Centers
Good news for Ohio State University. The Ohio Higher Education Funding Commission recently announced the 2015-16 capital funding recommendations for the state’s public colleges and universities. The proposal includes funds for the renovation of two iconic Ohio State buildings, Oxley and Pomerene Halls, as well as other building and facility repair and maintenance projects.
Hines Selects Gehry Partners Design for Germany’s Tallest Residential Tower
International real estate firm Hines announced Gehry Partners has won the architectural competition for the company’s 300-unit apartment project in Berlin. Slated to rise to a maximum of 492 feet, the 39-story structure will likely become the tallest building in Berlin and the tallest residential tower in the entire country.
Achieving Security: Are Mall Owners Doing Enough?
As the investigation into the deadly weekend shooting at The Mall in Columbia in suburban Maryland continues, security experts and property owners and managers are once again trying to determine if they are providing enough security for the public and whether or not changes need to be made.
Starwood Picks Up Sizable REO Office, Retail Portfolio for $191M
Starwood Capital Group has completed, through a controlled affiliate, the acquisition of a pool of real estate-owned assets from special servicer CWCapital Asset Management L.L.C. for $191 million.
Economy Watch: CRE on State of the Union; Fed’s Tapering Efforts; Foreclosures, Residential Delinquencies Drop
The industry reacts to the State of the Union address. The Federal Open Market Committee spoke out on bond-buying and deflation. And completed foreclosures decreased 24 percent last year, while Freddie Mac reported that its single-family mortgage serious delinquency rate declined in December.
Parkway, Hanover JV Unveils Design Plans for Massive Mixed-Use Project at Broad and Callowhill
A joint venture between the Parkway Corporation, one of the biggest parking space owners in Philadelphia, and The Hanover Company of Houston, TX has plans to transform the large public surface parking lot—a 60,140-square-foot grouping of parcels, to be more exact—between Callowhill and Wood Streets with Broad Street into a huge residential and commercial complex with hundreds of apartments and plenty of retail space.
Orion Construction, 616 Development Move Forward with Residential Projects in West Michigan
Orion Construction is working on a student housing complex in Allendale Township while 616 Development plans to convert the former Sackner Products Co. building in Grand Rapids into apartments.