News
MAA, Colonial Properties Trust to Become One in $8.6B Merger
MAA and Colonial Properties Trust have made a multibillion-dollar pact that will change the rankings in the apartment REIT arena.
Block Plans $100M Industrial Development on Agricultural Site
Block Real Estate Services Inc. recently closed on the sale of a 118.5-acre Lenexa site which is set to be transformed into a $100 million industrial development.
Alco Properties Accesses $4.7M Refinancing Loan for Apartment Property
Leading operator of affordable housing, Alco properties Inc./Alco Management, Inc. has filed a $4.7 million loan on Greenbriar Apartments, refinancing a comparable 2010 loan
$1.4B Sale of Share in GM Building is NYC’s Biggest in Years
In a truly international deal, a 40 percent stake in Manhattan’s iconic General Motors Building traded hands last Friday for a reported $1.4 billion.
Economy Watch: Construction Spending Ekes Out Gain; GSE Delinquencies Slipping; Car Sales Spike
Construction spending edged up in April by 0.4 percent compared to March.The rate of serious delinquencies among single-family property mortgages that are controlled by Fannie Mae dropped from 3.02 percent in March to 2.93 percent in April. And light vehicle sales were up 10 percent in May, compared to last year.
Turner Construction to Build Airport’s Consolidated Car Facility
By Anca Gagiuc, Associate Editor Eight companies entered the competition to build San Antonio’s first airport CONRAC (consolidated rental car facility). New York-based Turner Construction Co. scored 90.5 points out of 100 for its proposal and was selected the winner by the city council. This facility will bring the International Airport one step closer to […]
Hobby Lobby Set for First Oregon Location
A retail giant is setting its sights on new opportunities in the state of Oregon as Hobby Lobby has announced that it is expanding its Pacific Northwest operations with a brand new store in Portland. The retailer has selected the Heritage Mall in Albany, OR to house its first location. Hobby Lobby currently operates another three stores in the Seattle metro area, as well as two other locations in the state of Washington.
Akron Children’s Hospital Breaks Ground on Critical Care Tower
Akron Children’s Hospital broke ground on Thursday, May 30, on its new, seven-story, 300,000-square-foot critical care tower. Hospital leaders, elected officials, parents and children were present at the ceremony held in Perkins Square Park.
City, 3CDC, McCormack Baron Salazar Break Ground on Phase II of $63M Mercer Commons Project
The City of Cincinnati, 3CDC, and McCormack Baron Salazar, Inc. broke ground on May 31 on the second phase of the $63 million Mercer Commons project.
Stream Data Centers Earns LEED Gold; Viridian Phase Moves Ahead in North Arlington
Stream Data Centers, a national data center developer and operator, earned LEED Gold Certification for its Private Data Center (PDC) facility in the Telecom Corridor.