News
Economy Watch Weekly: Employment Numbers Surprised on the Downside in December
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Jan. 10.
Crescent Bluff Apartments to Add 172-Unit Second Phase
Downtown Memphis is set to see new apartment development, with Phase II of Crescent Bluff Apartments, which will add 172 new units to the existing 72 of Phase I
Grubb Properties Acquires Beckanna on Glenwood Multi-Family Community in Raleigh
An affiliate of Grubb Properties of Charlotte has recently purchased the 254-unit Beckanna on Glenwood apartment complex in Raleigh. According to the Triangle Business Journal, an affiliate of Trade Street Residential of Aventura, Fla. sold the 1960s-era property at 3939 Glenwood Avenue for $8.8 million, or $34,646 per unit.
Parkway Acquires Jacksonville’s JTB Center in Multi-Asset Deal
The Christmas season was jolly at Parkway Properties as the investment giant has managed to add several landmark properties to its Florida portfolio besides announcing to be under contract for selling assets Houston, Texas and Phoenix, Arizona.
Pinellas Park’s Judy Ann Apartments Community Sold for $1.1M
Marcus & Millichap Real Estate Investment Services’ Tampa office has recently announced the $1,100,000 sale of a 20-unit Pinellas Park community, Judy Ann Apartments.
Renovation Completed on Heart and Vascular Institute at St. Mary’s Hospital
2013 marks a great leap forward for the Carondelet Heart & Vascular Institute as a major expansion took place both on crew- and infrastructural level, including some truly streamlined innovations such as the state-of-the-art hybrid operating suite.
Community College’s Technology Center Receives LEED Gold Certification
A $4.5 million renovation exceeded the expectations of the management team; the Central New Mexico Community College Advanced Technology Center (ATC) has been awarded by the U.S. Green Building Council, Leadership in Energy and Environmental Design (LEED) Gold Certification. ATC is the third CNM building and the second renovation project to receive the Gold position.
Invesco Buys 388 KSF San Francisco Office Tower from Hines
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines, the latter’s San Francisco office announced Friday. The closing took place on Jan. 7, a Hines spokesperson told Commercial Property Executive. Financial terms of the sale were not disclosed.
94-Unit Apartment Asset Sold to California Hedge Fund; 440 on Third Starts Construction
Black Warrior LLC has sold Newport Villa Apartments, a 94-unit apartment complex located on La Annie Drive, north of Florida Boulevard, cashing in $1.2 million or $12,765 per unit for the asset
Cassidy Turley Arranges $100M in Financing for 440 KSF Office Complex in Suburban DC
A cool $100 million in financing has been arranged for National Gateway I and II, twin office properties totaling 437,400-square feet in Arlington, Va.
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