News
Wright State Breaks Ground on $37M Neuroscience Engineering Collaboration Building
Wright State University broke ground on Thursday, April 25, on a new, state-of-the-art facility within the biomedical and engineering research hub on the Wright State campus. The Fairborn-based public research university is developing the project in partnership with Premier Health Partners, the largest health care network in Dayton.
Blackstone to Acquire Hyatt Regency Waikiki
The Blackstone Group has agreed to purchase the leasehold interest in the 1,230-room Hyatt Regency Waikiki Beach Resort and Spa in Honolulu.
According to the Real Estate Alert, the property’s current owner – a joint venture comprised of Goldman Sachs’ Whitehall Street Real Estate Fund and the Hyatt Hotels Corporation – is selling the hotel for approximately $450 million, or $366,000/room. Eastdil Secured is brokering the transaction on behalf of the seller.
Booming Local Economy Draws Buyers to Houston Multifamily Properties
With Houston’s booming economy expected to generate approximately 117,000 new jobs in 2013, possibly the most sizable gain since the 1980s, nearly all sectors of the local economy have been experiencing increased activity. The multifamily sector is no exception.
Mortenson Continues Downtown Minneapolis Development Plans with New 220-Room Hotel Project
Mortenson Development is planning a nine-story, 220-room hotel near the First Avenue nightclub in downtown Minneapolis.
KPMG to Anchor Craig Hall’s Arts Project in Downtown Dallas
The Dallas Arts District will soon become home to KPMG LLP, the U.S. audit, tax and advisory firm, who signed a long-term lease with Hall Financial Group to occupy space in the much-awaited Hall Arts tower.
KPMG plans to relocate its Dallas office to 2323 Ross Avenue as the anchor tenant of the development’s first building, leasing more than one-third of a 450,000-square-foot office block.
Normandy Hotel Sells in Washington
Modus Hotels, a Washington, D.C.-based owner and operator of lifestyle hotels, has partnered with Alex. Brown Realty (ABR), a real estate manager based in Baltimore, to purchase the Normandy Hotel in Washington, D.C.’s Dupont Circle. ABR Chesapeake Fund IV, a value-added real estate fund sponsored by ABR, invested in the venture.
Fishers Medical Office Building Wins BOMA’s TOBY Award
The Building Owners and Managers Association (BOMA) has named the St. Vincent Medical Center Northeast, a medical office building in Fishers, the North Central Region winner of The Outstanding Building of the Year (TOBY) program.
Developed and managed by Duke Realty, the approximately 119,800-square-foot facility at 13914 Southeastern Parkway opened in 2008. The building is part of Ascension Health’s newly built St. Vincent Fishers Hospital.
University of Missouri Health Care Opens $190M Expansion Project
University of Missouri Health Care has inaugurated its largest expansion ever for University Hospital in Columbia, Missouri. The $190 million addition was designed by renowned architecture firm HOK and will feature a new patient care tower and a facility which will replace the oldest cancer center west of the Mississippi River – the Ellis Fischel Cancer Center.
Development Partners Plan 197-Unit Apartment Project for South Main Arts District
Two heavyweights of the Memphis business world are looking to develop a new multifamily project in The Bluff City’s South Main submarket.
Florida Hospital Breaks Ground on Emergency Department, Plans Further Expansion
Florida Hospital East Orlando has recently celebrated its upcoming expansion that will double the size of its current emergency department through a special groundbreaking ceremony. Both hospital and community leaders attended the ceremony and planted 260 flowers—number that stands for the average number of patients seen on a daily basis in the emergency department.