News
Ups and Downs
(national cap rate performance based on properties and portfolios of $2.5 million and greater)
Formation Capital Buys $400M Seniors Housing Portfolio
Sizeable seniors housing portfolios are not easy to come by, but Formation Capital has gotten its hands on one.
Yardi Buys Pierce-Eislen
Officials of Yardi and Pierce-Eislen say their merger fits in with both companies’ plans for growth in the real estate market research and software solutions businesses.
Select Property Sells Majority of Residences at West Avenue in Dubai Marina
Just five months after launching the project, Select Property has sold more than 90 percent of the units at West Avenue, the first new residential tower in Dubai Marina since 2008.
Franklin Street Buys Atlanta Office Tower from Jamestown for $158M
Franklin Street Properties has purchased the Class A office tower at 999 Peachtree in Atlanta from Jamestown Properties for $158 million.
State Announces Three New Sustainable Communities in Baltimore County
Great news for three Baltimore county areas. The Maryland Department of Housing and Community Development and Maryland Department of Planning have designated Catonsville/Patapsco, Greater Dundalk, and Hillendale/Parkville/Overlea as sustainable community areas under the state’s Sustainable Communities Act of 2010.
Economy Watch: Economy Creates 195K Jobs in June; Another Positive Housing Indicator
The economy created 195,000 jobs in June, a bit more than the average increase for the last 12 months, which was 182,000. And nationally, asking home prices rose 10.7 percent year over year in June.
Orlando World Center Marriott Makes Big Splash with New Water Slides
The award-winning Orlando World Center Marriott has just wrapped up the highly anticipated overhaul to its iconic Falls Pool Oasis, and no efforts were spared in making it a unique experience for its guests.
Forest City Ratner Tapped for Master Development of Cornell Tech Campus
Cornell University’s Board of Trustees is moving forward with plans to develop Cornell Tech, an innovation campus where tech industry professionals and businesses will work with university students under the same roof at the Roosevelt Island Campus of graduate high-tech education to create real-world applications and entrepreneurship.
Coral Gables, Miami Beach Add Prime Retail and Restaurant Space
Agave Holdings, LLC—the developer of 396 Alhambra—is looking to tap into the growing commercial, residential and tourism activity in the Coral Gables area, having added 17,800 square feet of prime street-level retail and restaurant space to its mixed-use development.