News
Green Housing Development Breaks Ground in South Philadelphia
Philadelphia’s commitment to green building and design was highlighted once again last week at an official ceremony that marked the ground breaking of a new, energy efficient residential community.
Hyatt Place Announced for Royal Oak Redevelopment Project
Plans to redevelop a vacant lot that once served as the Jim Fresard Pontiac / Buick / GMC car dealership in Royal Oak are moving forward as the developer unveiled the last piece of the puzzle: an eight-story hotel under the Hyatt flagship.
Mill Creek, Crescent Communities Commence M-F Projects Near Hospitals
Crescent Communities and Mill Creek Residential have kicked off multi-family projects, the 265-unit Premier Medical Center in Houston and the 296-unit Crescent Dilworth in Charlotte, within close proximity to major healthcare facilities.
Third Trader Joe’s Store in Pittsburgh to Open at McCandless Crossing in 2014
Trader Joe’s will open its third store in the Pittsburgh area at the McCandless Crossing mixed-use development in the North Hills, the Pittsburgh Tribune-Review reports.
$11 Million Extensive Renovation Completed at Tanya Towers
After two years of extensive renovations, a low-rent apartment building at 620 East 13th Street in Manhattan’s Lower East Side was reopened last week during an official ceremony.
Merlin Entertainment Brings Legoland Concept to Greater Boston Area
The first Legoland Discovery Center in the Greater Boston area is currently under construction at the Assembly Row development in Somerville, a much-anticipated neighborhood expected to open in 2014 northeast of Boston.
Woodland Hills Apartment Community Trades Hands for $88M
One of the largest San Fernando Valley apartment deals was perfected recently when a group of investors headed Jones & Jones Management Group paid $88 million for a Woodland Hills property. The buyer acquired the Mercer at Warner Center residential community from Rockwood Capital and The Bascom Group. According to the CoStar Group, the acquisition comes hot on the heels of another high-profile apartment deal made by the buyer, namely the sale of the Crenshaw Village asset, for a total of $60 million.
In-Depth Look into ARCP/Cole Merger
Two former competitors will become the world’s largest net-lease REIT, worth about $21 billion, as American Realty Capital Properties acquires Cole Real Estate Investments in an “epic transaction” for $11 billion.
Chesapeake Realty, Wood Partners and Bernstein Management Break Ground on the Winthrop Luxury Apartments
Chesapeake Realty Partners, Wood Partners and the Bernstein Management Corporation broke ground on Tuesday, October 15, on the first phase of a project that will ultimately bring 470 new luxury apartments on a 13-acre site in downtown Towson. Baltimore County Executive Kevin Kamenetz was present at the event.
Cvent Leases 130 KSF in Tysons Corner, Va.
Cvent, a leading maker of event-management software, will take about 130,000 square feet of space at Greensboro Station, a Tysons Corner, Va., office campus.