News
Luxury Assisted Living Facility Opens in White Plains
A new luxury assisted living complex called The Bristal at White Plains celebrated its official grand opening last week during a ribbon-cutting ceremony that attracted over 200 Worcester County dignitaries, businesspersons and residents.
Irgens Seeks Tax-Increment Financing for 833 E. Michigan Tower
Real estate development firm Irgens is considering city financing for its proposed $100 million Class A multi-tenant office tower in downtown Milwaukee. The company is also planning to move its corporate headquarters from the Milwaukee County Research Park in Wauwatosa to the new facility.
Kite Realty Acquires Castleton Crossing in Indianapolis for $39M
Kite Realty Group Trust Inc. has purchased the 280,000-square-foot Castleton Crossing retail center in Indianapolis for $39 million. According to property records, Texas-based American National Insurance Co. is the seller of the property.
Public-Private Partnership to Add ‘Central Park’ to Brooklyn, Jacksonville Development
A public-private partnership is looking to bring a signature park to historic Brooklyn and to increase the quality of life for residents of the city; Mayor Alvin Brown and Jen Jones—executive director of Jacksonville Unity Plaza Inc.—accepted the deed to the premiere ‘central park’ for Jacksonville at the construction site of 220 Riverside, a mixed-use development aiming to revive Brooklyn.
Campus Acquisitions Breaks Ground on Second Student Housing Complex West of UA
Chicago-based Campus Acquisitions has broken ground on a new student housing complex near the University of Arizona in Tucson, which will be built by Beal Derkenne Construction. The 13-story high-rise is slated for completion in August 2014.
$24M Chisca Hotel Redevelopment Has Official Groundbreaking
The dilapidated Chisca hotel on busy South Main Street is officially in full redevelopment mode and has a strong new partner to boast as well.
Metropolitan Resort Orlando Soon to Become World’s Largest Econo Lodge
California Hotels has big plans in metropolitan resort orlandostore for the 297-room Metropolitan Resort; through its subsidiary, 8444 Investments LLC, the company plans to convert the property to The World’s Largest Econo Lodge.
Jefferies LoanCore Provides $60M Mortgage for Hingham Shipyard Retail Center
The Debt & Equity Finance team of CBRE/New England has negotiated $60 million in first mortgage financing with New York-based investment bank Jefferies LoanCore on behalf of real estate development company Samuels & Associates. According to Citybizlist, the loan will be used to secure The Launch at Hingham Shipyard, a transit-oriented shopping center located at 349 Lincoln Street at Shipyard Drive, on the former site of the historic World War II naval shipbuilding.
As Opening Nears, The Outlet Shoppes at Atlanta Adds 38 New Stores
The Outlet Shoppes at Atlanta, a 370,000 square-foot retail center currently under development at the newly-constructed exit off I-575 at Ridgewalk Parkway in Woodstock, has recently added 38 stores to its already impressive list of tenants.
Morgan Properties Celebrates $10 Million Improvement Program Underway at Northwest Crossing Apartments
Morgan Properties celebrated on May 3 the next chapter of the newly re-named Northwest Crossing Apartments, a garden-style apartment community in Randallstown, Maryland.