News
Associated Estates Purchases Apt. Portfolio from Northwood Ravin for $329.9M
In a $323.9 million deal, Charlotte-based developer Northwood Ravin is selling a portfolio of seven apartment communities totaling 1,606 units to Ohio real estate investment trust Associated Estates Realty Corp.
Eagle Property’s Fund Acquires Multifamily Property for $8.9M
Eagle Property Capital, LLC recently announced to have acquired a 244 unit multifamily community through Nova Eagle Multifamily Property Fund II. The Columns is located in the western region of Arlington, south of Atlantic Blvd and east of University Blvd. Fund II is a private investment vehicle raised and managed by Eagle Property Capital, and as its name suggests, it is the company’s second multifamily fund.
Cree LED Lighting Chosen for Albuquerque’s Convention Center
The Albuquerque Convention Center is in the middle of a massive makeover with the clear mission of attracting tourist dollars to the area. Phase I of the project, representing the remodel of the East Complex, was finalized during the summer months and a facelift of the West Complex is in the works.
Witkoff, Jynwell Close on NYC’s Park Lane Hotel for $660M
An investment consortium led by The Witkoff Group and majority backer Jynwel Capital has acquired the Helmsley Park Lane Hotel in New York City for $660 million from the Leona and Harry Helmsley Charitable Trust.
ARCP Taps Capital Automotive’s Kay for Prez
Capital Automotive Real Estate Services Inc.’s loss is American Realty Capital Properties Inc.’s gain. ARCP recently snapped up David Kay from his position as CFO & chief investment officer at Capital Automotive to serve as the company’s president.
CCIT Buys 5 Net-Lease Office Properties for $202M
Cole Corporate Income Trust has acquired five single-tenant corporate properties with a total of 733,062 square feet for $202 million, including two in San Jose and one each in Houston, St. Louis and Colorado Springs.
Economy Watch: U.S. Housing Price Rise Slows; Consumer, Investor Confidence Down
U.S. housing prices are rising slower than usual. And consumer confidence, along with investor confidence, due to a drop in European confidence, dipped this month.
The Marketing Directors to market Mirasol at Celebration
The Marketing Directors, LLC expands its condominium portfolio by providing residential sales and marketing for Orlando’s Mirasol at Celebration and three other neighborhoods in Florida and Texas. The addition consists of 353 units valued at more than $110M in Tampa’s Town Park Villas, The Palazzo on St. Johns in Jacksonville, The Strand Lofts of Galveston in Texas and the above community.
Crescent Brings 256 Luxury Apartments to Howell Mill Road
Crescent Howell Mill, a $47 million, 256-unit luxury community is officially on its way to bringing the apartment market in the area between Atlanta’s Buckhead and Midtown districts to boil.
Miami Entertainment Complex Prepares for Key Scene
Miami Entertainment Complex will be developed and operated by EUE/Screen Gems as on Nov. 20 the Miami Omni Community Redevelopment Agency’s board of directors voted unanimously to begin negotiations with the proposer. The Miami Omni CRA has been seeking proposals from qualified bidders to design, build, operate and manage a major film and television studio in Miami’s Media and Entertainment District since September.