News
Joint Venture to Open Ohio Racino in December
The state of Ohio will get a new racino by the end of the year. Miami Valley Gaming & Racing, a joint venture of Delaware North Companies Gaming & Entertainment, headquartered in Buffalo, N.Y., and Louisville, Ky.-based Churchill Downs Incorporated, will open a new harness racing and gaming facility near exit 29 off of Interstate 75, between Cincinnati and Dayton, in December.
A&B Properties to Acquire West Oahu’s Pearl Highlands Center for $141.5M
A&B Properties, Inc., the real estate subsidiary of Alexander & Baldwin, Inc., has agreed to acquire the Pearl Highlands Center in Pearl City for $141.5 million.
Fountain Residential to Add Housing Options at University of Houston
Following the University of Houston’s successful efforts of adding housing options in order to transform itself from an urban commuter-based campus to a Tier One research institution, a new student housing building will soon rise right across from the campus.
Trammell Crow Starts Work on Plano Office Tower; Frisco Apartment Community Sells for $36M
Trammell Crow Company and Principal Real Estate Investors have joined forces to develop Legacy Towers, a speculative two-phase office building project in Plano’s Legacy business park.
U.S. Bank Provides $55M for Affordable Seniors Housing Project in LA
U.S. Bank has given a big helping hand in the addition of 165 new units to Los Angeles’ depleted affordable housing market.
InterContinental Opens 272-Key Location in Osaka Mega Development
Japan’s second-largest city, Osaka, has been seeing some major investments lately in its bid to become one of the gateway cities of Asia.
Glimcher to Regain Tampa Center, Sell Interest in Portland’s Lloyd Center
Glimcher Realty Trust plans to purchase the remaining interest in WestShore Plaza, Tampa, from its joint venture partner, an affiliate of Blackstone Real Estate Partners VI, for $112 million.
Economy Watch: Employment Surprises on the Upside; Rail Traffic Up in May
The creation of 175,000 jobs in May by the U.S. economy was taken as good news mainly because economists, pundits and investors were expecting a mediocre or worse report. And total U.S. rail traffic increased during May.
JDM Partners Buys State Farm’s Tempe Operations Center for $73M
In a $73 million deal, an affiliate of Phoenix-based JDM Partners L.L.C. has acquired State Farm Mutual Automobile Insurance Co.’s operations center in Tempe.
CBRE Arranges $27M Multifamily Sale, Finds New Tenant for HD Supply Building
This past week was quite an eventful one for CBRE’s Orlando office. Not only has the team grown by adding Jay Dixon—a former senior office leasing professional at Lincoln Property Company in Orlando with over ten years of experience—as an Office Building Sales Professional, but has also managed to close on the sale and acquisition financing for The Element, and land a new tenant for the HD Supply Building.