News
Inland Pays $74.5M for Downtown Hotel
The New Orleans lodging market stays hot even if temperatures are cooling down in the Big Easy. Following the recent purchase of the Queen and Crescent Hotel, another former office asset turned hotel has been acquired.
Skanska Rolls Out 400 Fairview Development Project with Brand-New Anchor Tenant
One of the most active foreign developers in the bustling Seattle market in recent years has undeniably been Stockholm, Sweden-based Skanska. The developer is operating its interests here through subsidiary Skanska USA, and now it has a new investment going in the city. The company has announced a $150 million investment in a new office and retail development project in the meteoric South Lake Union neighborhood of Seattle, one of the primary engines for growth in the Seattle real estate market.
Inland Real Estate Buys University Heights Shopping Center
Inland Real Estate Corporation has acquired a Cleveland-area shopping center in a joint venture with Dutch pension fund advisor PGGM. The purchase price was $24.9 million, excluding closing costs and adjustments. The joint venture also assumed an $18.4 million property-level loan with a two-year term, which it expects to pay off or refinance upon maturity.
Dayton Children’s Hospital Announces $140M Expansion Project
Great news for all the children in Dayton. Dayton Children’s Hospital plans to invest $140 million to expand its Valley Street campus, near the city’s downtown. The hospital’s board of trustees approved the plan recently. The move follows a nearly nine-month planning processes which included input from the hospital’s staff as well as patient families.
City Council Green-Lights Central Y Property Redevelopment Downtown
Plans for the redevelopment of the current YMCA of Honolulu facility are moving forward.
Lionstone Group Grabs Landmark Office Tower in Houston’s CBD
The Lionstone Group completed the acquisition of 712 Main Street in Houston’s CBD, in a deal that marks the first time the landmark property has been offered for sale on an individual basis since its construction in 1929.
TDI Breaks Ground on Las Colinas Luxury M-F, Opens High-End Community in Allen
TDI Real Estate has broken ground on Jefferson Las Colinas, a 386-unit luxury multi-family community in Irving, a top-performing Dallas submarket.
AFL-CIO BIT to Sell Five-Building Portfolio in Tysons Corner
In August, 2011, the AFL-CIO Building Investment Trust added a five-building portfolio in Tysons Corner to its Washington, D.C.-area properties. Now, the trust is looking for buyers for the same portfolio.
IREM Special Report: Embrace Transformative Change, Beware of Complacency, Yardi Founder Urges
In his keynote address, Anant Yardi emphasizes paying attention to customer needs, embracing technology in all its forms and the value of steady yet flexible leadership.
Ken’s Foods Increasing Storage Capacity in Atlanta Metropolitan Area
Ken’s Foods Inc. is expanding its Metro Atlanta operations by acquiring a warehouse in Henry County. The depository will soon be used as a regional distribution center.