News
Blackstone Closes on East Coast Hotel Portfolio for $186M
Blackstone Real Estate Advisors has closed on a 15-property select-service hotel portfolio in seven East Coast and Mid-Atlantic states after securing $186 million in acquisition financing.
Centro Breaks Ground in Downtown Miami
Construction has officially begun on Centro, a $90 million, 37-story, 352-unit residential condominium tower in Miami’s central business district.
Economy Watch: New Home Sales Down, Durable Goods Orders Jump in November; Most State Coincident Indexes Up
Sales nationwide of new single-family houses in November were 2.1 percent below the October rate. Durable goods orders surged 3.5 percent in November. And coincident indexes for November 2013 increased in 46 states.
P. B. Bell Closes on Sites of Luxury M-F Projects in Phoenix, Scottsdale
The P. B. Bell Companies, a locally owned and operated real estate management and development firm, has announced plans to develop a 244-unit luxury multi-family community in the Valley.
Wheeler REIT Pays $1.7M for Strip Center in Jenks
Wheeler Real Estate Investment Trust Inc. recently announced it has acquired Jenks Plaza, a retail strip center located in Jenks, Oklahoma. The property was acquired for a purchase price of approximately $1.7 million, or $223 per leasable square foot.
Middle Street Partners Acquires Mebane Multi-Family Community for $21.5M
Middle Street Partners LLC of James Island, S.C. has acquired the Carden Place Apartments at 101 Carden Place Drive in Mebane. According to the CoStar Group, Greensboro-based Brown Investment Properties sold the 240-unit community for $21.5 million, or approximately $90,000 per unit.
Pedcor to Expand Massive City Center Mixed-Use Development in Carmel
Developer Pedcor Cos. is planning to invest between $80 million to $100 million in the expansion of its major commercial and residential Carmel City Center development.
Village Green Breaks Ground on 82-Unit Addition to Historic Apartments
West End City Apartments recently broke ground on a luxury 82-apartment mid-rise building, an addition to the existing 318 apartments in three historic high-rises.
Harvest, LaSalle Acquire 233 KSF Office Tower in San Jose
Harvest Properties and LaSalle Investment Management have teamed to acquire 60 S. Market St., a 232,536-square-foot, 14-story Class A office tower located in Silicon Valley’s downtown San Jose, from Ares Management.
Citi Extends 2.6 MSF Lease Agreement at TriBeca Towers in NYC
An affiliate of Citigroup has signed an extension for its triple-net leases at 388 and 390 Greenwich St. in Manhattan’s TriBeCa neighborhood.