News
University of Dayton’s $53M GE Aviation EPISCENTER Is the Best Economic Development Project in Ohio
The $53 million, newly constructed GE Aviation EPISCENTER(Electrical Power Integrated System Center) on the University of Dayton’s campus is slated to open this December 13. But the facility, finished in August, is already impressing. On October 24, the Ohio Economic Development Association, a not-for-profit association of professionals whose, recognized it as the best economic development project in the state Ohio, in 2013.
Carey Watermark Buys Hawks Cay Resort in Florida Keys for $149M
Carey Watermark Investors has added the Hawks Cay Resort on the isle of Duck Key in the Florida Keys to its portfolio in a transaction valued at $149 million.
ARCP-Cole Deal Questioned by Shareholder Law Firms
Securities attorneys across the U.S. said Thursday they were investigating the proposed $11.2 billion merger agreement between Cole Real Estate Investments and American Realty Capital to see if it was fair to Cole shareholders.
Blackstone Founder Raises $260M, Breaks Ground on Schwarzman College in Beijing
Blackstone founder Stephen Schwarzman has helped raise $260 million for Schwarzman Scholars, which will be utilized for Schwarzman College at Tsinghua University in Beijing, one of the first academic buildings constructed in China that will target LEED Gold and China Green Building Label certification.
Economy Watch: Fed Wants Big Banks to Beef Up Liquidity; Hires, Separation Rates Stagnant
The Federal Reserve proposed a rule requiring large financial entities to strengthen their liquidity positions even more than they already have. And there were 3.9 million job openings on the last business day of August, little changed from July.
Site Work Has Begun on Darden HQ Hotel
Darden Restaurants’ headquarters already has a gym, and a cafeteria with take-home meals. The company giant recently started development on its long-awaited headquarters hotel project too.
Newland Buys Foreclosed 1,100-Acre Master-Planned Community in Wake County
San Diego-based Newland Communities has acquired the long-stalled Wendell Falls residential and commercial project in eastern Wake County. The NewsObserver reports that the developer paid $34 million for more than 1,100 acres of land that Wells Fargo foreclosed upon in 2010.
San Marco Neighbors Welcome $50M Publix Mixed-Use Development
Last Thursday San Marco residents met with developers Whitehall Realty LP, Regency Centers Corp. and St. Joe Co. in a town hall meeting where updated plans for the East San Marco Publix development were presented to the public.
New $30M Westside Apartment Complex on the Rise
The largest sale in 2011 for a multifamily project in the Albuquerque area is now ground for the preliminary works on what will become an upscale apartment complex. Andalucia Villas will occupy 16.5 acres at Coors and Montaño in the Westside of the city, close to the Bosque School. The buyer and developer, Bay Hill Development LLC, has been represented by NAI Maestas & Ward.
TDA Investment Group Pays $11.4M for MOB Near San Diego State
San Diego is well-known for being one of the country’s hotbeds in terms of biotech and health sciences, with a plethora of facilities accommodating a number of specialized companies, also driving the area’s real estate market. Now a medical facility has traded hands in the immediate vicinity of the San Diego State University. The Alvarado Hospital Medical Plaza III has been acquired by TDA Investment Group for a total purchase fee of around $11.4 million from seller AMP III LLC.