News
Oak Coast Buys Multifamily Asset in Duluth
Oak Coast Properties and Investors Management Group announced the acquisition of Promenade at Berkeley on January 14. Located in Duluth, Ga., the 492-unit apartment community was sold for $33.7 million by Northwoods Lake Partners LLC.
HID Global Opened New World Headquarters and North American Operations Center
HID Global recently announced the opening of its new world headquarters and North American operations center at 611 Center Ridge Drive in North Austin’s Tech Ridge area.
Tennessee Billionaire Acquires Over 3,000 Acres of Land on Kauai
Tennessee billionaire Brad Kelley has recently purchased over 3,000 acres of agricultural land on the island of Kauai, the Pacific Business News reports. Lihue-based Grove Farm Co., which is owned by AOL founder Steve Case, sold the property for an undisclosed amount. The land is located in the Puhi area of Lihue.
W.P. Carey Expands Houston Footprint with 22-Story Office Acquisition; New Hyatt Place Opens in The Woodlands
W. P. Carey Inc., a real estate investment trust specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net-lease properties, announced two acquisitions completed on behalf of its managed REITs at year-end 2013.
HFF Secures $105.8M in Financing for Thanksgiving Tower; US Commercial Sells Texas Properties
HFF arranged $105.8 million in acquisition financing for Thanksgiving Tower, a 1.37 million-square-foot, 50-story office building in the heart of downtown Dallas.
MetLife, Norges Bank Buy D.C. Trophy Office Building in First Major Transaction of 2014
A month after announcing the birth of their joint venture, MetLife, Inc. and Norges Bank Investment Management (NBIM), a Norwegian pension fund manager, have made public the names of their second and third investments. One of the properties is located in downtown Washington, D.C. and is one of the city’s largest office buildings.
Starwood to Open Landmark Canterbury Hotel Downtown as Le Méridien Indianapolis
Starwood Hotels & Resorts has announced that the iconic Canterbury Hotel in the heart of downtown Indianapolis will reopen under the company’s luxurious Le Meridien brand in November.
Transwestern Expands Industrial Reach in Metro Chicago with Acquisition of Epic Realty
Commercial real estate services firm Transwestern has expanded its presence in metropolitan Chicago overnight with the acquisition of industrial real estate group Epic Realty Partners.
JBG, Klein Enterprises Unveil State-of-the-Art Social Security Administration Complex at 6100 Wabash Avenue
The JBG Companies and Klein Enterprises have unveiled last week 6100 Wabash Avenue, a state-of-the-art, twin-building facility for the Social Security Administration. Baltimore Mayor Stephanie Rawlings-Blake and Congressman Elijah Cummings were among the officials and community leaders present at the ribbon-cutting ceremony.
Stanford Hotels Affiliate to Develop San Francisco’s First New Upscale Hotel Since ‘08
SOMA Hotel, a privately held hotel development company and an affiliate of the Stanford Hotels Group, has acquired a prime development site in San Francisco’s South of Market neighborhood and plans to build the first full-service hotel in the city since 2008.