News
Two Mid-Priced Hotels to Add 510 New Rooms Near the Convention Center
The Hub is set to become a top convention destination as two hotel projects broke ground last week on D Street in South Boston Waterfront, directly across from the Boston Convention and Exhibition Center.
Los Angeles Hotels Trade Hands to Chinese Investors
Southern California seems to be the perfect hospitality market for Chinese investors as two recent hotel deals were made by different companies entering the city’s real estate market. Chinese real estate developer Hazens Investment completed the acquisition of the Sheraton Gateway Los Angeles Hotel for a fee of $96 million, while earlier this month the Torrance Marriott South Bay was acquired by the Sichuan Xinglida Group Enterprises Co. for $74 million.
T. Rowe Price Renews Lease at 100 East Pratt Street, Keeps 1,300 Jobs in Downtown Baltimore
Good news for downtown Baltimore. After several months of uncertainty, T. Rowe Price Group, Inc. announced it has renewed its lease at 100 East Pratt Street and that it won’t be moving its headquarters to a different location. This means the company’s nearly 1,300 employees will be staying put.
W. P. Carey Acquires $92M Retail Portfolio in Croatia from Agrokor
In a $92 million sale-leaseback deal, W. P. Carey has purchased five retail stores from Agrokor in Croatia.
Llenrock Group Secures $50M in Financing for 1845 Walnut Street
Philadelphia-based independent real estate finance and advisory firm Llenrock Group has completed $50 million in permanent financing for a 25-story office tower located on Rittenhouse Square in Center City, one of Philadelphia’s most prestigious neighborhoods.
Midtown Detroit Breaks Ground on LTU Center for Design and Technology
A vacant lot at the corner of Woodward Avenue and Willis Street in Detroit will be replaced by a 30,000-square-foot commercial building that will house Lawrence Technological University (LTU) as the anchor tenant.
Tryko Partners Acquires Affordable Multifamily Community in Leechburg
Private equity real estate group Tryko Partners, LLC has announced the acquisition of Sandalwood Apartments, an 86-unit affordable multi-family community in Leechburg, PA.
Bluestone Properties and Harbor Group International Pay $92.1M for Nashville Apartments
Hickory Point at Brentwood, a 298-unit apartment complex located in the Brentwood suburb of Nashville, has been purchased by Nashville Hickory Point LLC, which features the same address as QVT Mount Auburn Capital LP, for $35.1 million
Rockrose Buys 150 KSF NYC Commercial Office Building for $105M
Rockrose Development Corp. has acquired 15 E. 26th St., a 150,000-square-foot boutique commercial office building located on Madison Square Park between Madison and Fifth avenues, from Savanna for $105 million.
Essex Agrees to Buy BRE for $4.3B
A week after announcing it was exclusively courting BRE Properties, rival multi-family REIT Essex Property Trust said it had agreed to make the marriage official, with BRE Properties being merged with Essex in a cash and stock deal worth $4.3 billion.