News
Wedgwood Senior Living Community Sold to Out-of-State Investor
Wedgwood Apartments, the North Central senior apartment community located at 6701 Blanco Road, has changed owners. The property is easy to reach from Loop 410 and U.S. Highway 281 and close to much of what San Antonio has to offer.
$157 Million Luxury Building Underway in Queens; Continuum Announces Harlem’s Tallest Residential Project
The World-Wide Group, a New York City-based development company that has developed over $3 billion worth of premium residential properties in Manhattan over the past five decades, recently broke ground on a $157 million project.
Retail Booms in NOLA with Old Projects and New
Retail took front row in New Orleans’ CRE market again, with updates on already underway development flooding the news cycle as well as new projects being announced.
American Life Acquires Site North of CenturyLink Field
With the current rate of development in Seattle in virtually any of the major sectors being amongst the highest in the entire U.S., it comes as no surprise that developers view every availability as a chance to cash in on the buzz. The latest company to ripple the waters of the Puget Sound is American Life. The real estate company has acquired a parking lot from Daniels Real Estate, just north of CenturyLink Field, in Pioneer Square. According to the Puget Sound Business Journal, the investor paid a fee of $18 million for the property, and has set its sights on developing a new office property at the site.
HFF Ramps UP L.A. Area Activity, Completes Financing Deal, Property Sale
As the local market continues to improve, commercial real estate capital intermediaries Holiday Fenoglio Fowler have ramped up their involvement in Los Angeles and Orange County. The company has recently closed the sale of a Newport Beach office asset to a Goldman Sachs Asset Management-controlled fund, while on the financial front, HFF arranged refinancing for a shopping center located in Burbank, worth a total of $11.24 million. The retail property is under the ownership of a joint venture between GPI and KBS Capital Advisors.
Mayor Menino’s $16.5 Billion Housing Strategy Calls for 30,000 New Units by 2020
Back in March Mayor Thomas M. Menino unveiled an unprecedented plan to increase the number of new housing units in Boston by 30,000 by the year 2020. Last week, with less than four months in office, the Mayor announced the city’s new blueprint for this ambitious strategy that aims to fulfill Boston’s housing needs.
A&B Properties to Acquire Kahala Properties from Kawamoto
In an off-market transaction, A&B Properties, the real estate subsidiary of Alexander & Baldwin, has paid approximately $98 million to acquire a portfolio of 31 residential properties from Japanese real estate investor Genshiro Kawamoto. Twenty-seven of the properties are located on Kahala Avenue, Honolulu’s premier residential address, which spans along the ocean from Diamond Head to Waialae Country Club, home of the Sony Open, and the world-famous Kahala Hotel & Resort.
Kite Picks Up Shopping Center, While Whole Foods Sign Lease for Second Location
Kite Realty Group Trust, a full-service, vertically integrated REIT focused on neighborhood and community shopping centers has announced the acquisition of the 60,000-square-foot Toringdon Market.
Simon Property Group’s Barton Creek Square to Undergo Food Court Renovations
Simon Property Management, the Indianapolis-based real estate company that owns a fairly large percentage of retail space in Austin, has started the remodeling works at the food court in Barton Creek Square shopping mall. Completion of the project is scheduled for November 2013.
Washington Property Closes $75M Permanent Loan for M-F Asset in Suburban DC
Washington Property Co. has landed $75 million in permanent financing for Solaire-Metro, the CRE concern’s 295-unit luxury apartment community in the suburban Washington, D.C., city of Silver Spring, Md.