News
Rockbridge Capital Acquires Aqua Wave Waikiki Hotel for $48M
Ohio-based private equity firm Rockbridge Capital has purchased the Aqua Wave Waikiki hotel in Honolulu from Ramsfield Hospitality Finance’s CR Wave LLC. According to the Pacific Business News, the leasehold property at 2299 Kuhio Ave. sold for $48 million.
Brookhollow Central II & III Awarded LEED Gold; Skanska’s Capitol Tower Earns LEED v4 Platinum Pre-Certification
Brookhollow Central II and III, two office properties in Houston’s Brookhollow Central campus, along with Buckhead Tower at Lenox Square in Atlanta, Georgia, have been recently awarded LEED™ Gold Certification for Existing Buildings: Operations and Maintenance by the U.S. Green Building Council.
IHG Announces Opening of Newly Renovated Holiday Inn Express Hotel & Suites Bloomington – West
InterContinental Hotels Group recently announced the opening of the newly renovated Holiday Inn Express Hotel & Suites Bloomington – West. Located at 7770 Johnson Avenue in South Bloomington, close to the Minneapolis St. Paul International Airport and the Mall of America, the 159-room hotel is one of the largest Holiday Inn Express hotels in Minnesota, by number of rooms.
Developers Bring $45M Dream Hotel to Uptown Dallas; Westmount Aquires 270-Unit Suburban M-F Complex
Hyphen Construction Group, Inc., a hospitality-focused, general contracting firm based in Addison, has been tapped by McKinney Hotel Developers, LLC to build the new Dream Dallas Hotel.
Two More D.C.-Area Office Properties Change Hands
Office properties in the Washington, D.C. area continue to attract interest from investors. Last week, I wrote about the acquisition of the Thurman Arnold Building by a MetLife Inc. and Norges Bank Investment Management joint venture, in the first major commercial real estate sale of the year. Two more office buildings have since then changed hands.
Kennedy Wilson is New Owner of Victory Plaza and Multifamily Site in North Hollywood After Purchasing $30 Million of Debt
Kennedy Wilson, an international real estate investment and services firm, recently expanded its retail portfolio with a Los Angeles grocery-anchored property. The company is the new owner of Victory Plaza, a North Hollywood retail center, as well as a development site that has all the papers in place for a multifamily development. Kennedy Wilson had purchased the debt on the two assets in December of last year from an Ireland-based financing firm, for a total of $30 million.
Mashable Signs 38 KSF Lease to Relocate to 114 Fifth Avenue
Mashable, the mega-popular tech and social news blog founded in 2005 by Pete Cashmore—yes, the cool entrepreneur who made it to Forbes’ “30 Under 30” list—stroke a deal with L&L Holding company for 38,580 square feet of space at the newly renovated 114 Fifth Avenue in Midtown South.
ARTIC Acquires St. Regis Bal Harbour Resort for $213M
Al Rayyan Tourism Investment Company (ARTIC) along with Starwood Hotels & Resorts Worldwide Inc. recently announced that ARTIC has purchased the St. Regis Bal Harbour Resort in Miami. The transaction was worth $213 million.
Brohn Homes Announces New Homes in Austin’s Pflugerville
Brohn Homes, a family operated and owned business with focus on custom home building, has announced the start of construction in Pflugerville’s established neighborhood The Commons at Rowe Lane. Prices start in the $220,000s.
70-Unit Affordable Housing for South Charlotte; NorthMarq Arranges Financing for Metrolina Apartments
Affordable housing could be on its way to South Charlotte, as Charlotte City Council has approved a rezoning request for a 7.23-acre site on Weddington Road, clearing the way for the Charlotte-Mecklenburg Housing Partnership (CMHP) to develop an up to 70-unit subsidized apartment complex.