News
West Chester University of Pennsylvania Adds New Student Housing Facility
EdR (NYSE:EDR), one of the largest owners, developers and managers of collegiate housing in the U.S., recently announced construction of a new student housing development on South New Street on the campus of the West Chester University of Pennsylvania (WCU).
Studio One Apartments Refinanced by $15.66 M Loan from CBRE HMF
Studio One Apartments, a residential building located at 4501 Woodward Avenue in Detroit’s Midtown neighborhood, has received $15.66 million in non-recourse financing from CBRE HMF, CBRE Group’s direct HUD FHA lender. According to a statement for the press, the loan was funded through CBRE’s FHA-insured permanent loan program with a fixed rate, 30-year, fully-amortizing loan.
$60M Condo and $80M Apartment Projects Stir Up Nashville
Thanks to favorable market conditions, developer LaRawn Scaife Rhea’s 34-unit luxury condominium project The Manning at Belle Meade could soon restart development.
Hines REIT Pockets $412M on Sale of Houston’s 1.4 MSF Williams Tower
Hines Real Estate Investment Trust brings its ownership of the landmark Williams Tower in Houston to a lucrative end with the $412 million sale of the 1.4 million-square-foot office property to Invesco Real Estate.
Hines Global REIT Acquires Two Overseas Properties for $215M
Hines Global REIT spent more than $215 million on two office properties in the past week, one in London and the other in Sydney, as it continues to expand its international portfolio.
Cole/Cole Merger to Create One of Largest Net-Leased Publicly Traded REITs
Cole Credit Property Trust III has executed a definitive merger agreement to acquire Cole Holdings Corp., a real estate investment management firm that currently manages more than $12 billion of real estate assets.
Economy Watch: Fed Says Economic Expansion Still ‘Modest to Moderate’; Bankruptcy Filings Drop; ADP: Nearly 200K Jobs Created in February
According to the Federal Reserve, economic activity generally is expanding at a modest to moderate pace. Total U.S. bankruptcy filings decreased 21 percent in February compared with the same month a year ago. And according to ADP, private sector employment increased by a net of 198,000 jobs from January to February.
myCREOpoint Creates Site to Decrease Risk, Improve Performance for CRE Pros
A new site created by CREOpoint will offer an advanced customizable real time business intelligence hub exclusively for the global commercial real estate industry.
131-key Hotel Picked Up by CWI, Goes Under HRI Management
New York-based Carey Watermark Investors Incorporated (CWI) recently announced the acquisition of a five-property Hilton-branded hotel portfolio from Fairwood Capital, LLC-managed entities.
Loews Hotels & Resorts Breaks Ground on 400-Room Hotel
Loews Hotels & Resorts recently held a groundbreaking ceremony on the site where the company will open the Loews Chicago Hotel in 2015. Company officials, including Chairman Jonathan M. Tisch and President and CEO Paul Whetsell, were joined by Donald R. Wilson, Jr., founder and CEO of DRW Trading Group and Mayor of Chicago Rahm Emanuel at the ceremony.