News
Creative Office Building in Santa Monica Secures Refinancing Deal as Silicon Beach Concept Gains Traction
2700 Pennsylvania Avenue is a 62,000-square foot creative office building that will benefit from its proximity to the upcoming Bergamot Station on the Expo Light Rail line, when it opens in 2015. The building has a 100 percent occupancy rate with its two lease holders being popular names Yahoo! and Jakks Pacific. HFF secured a seven-year, fixed-rate loan through Principal Real Estate Investors on behalf of Welk and The Luzzatto Company through its debt placement team led by Director Chris Vittetoe and Real Estate Analyst Steven Paskhover. Continue reading →
Morgan Properties and Dune Buy Glen Burnie’s 796-Unit Chesapeake Glen Apartments
Morgan Properties of King of Prussia, Pa., and Dune Real Estate Partners LP of New York have teamed up to acquire the Chesapeake Glen Apartments community in Glen Burnie, Md., from Equity Residential. The cost of the transaction has not yet been disclosed. HFF represented the seller.
Financing the Largest FHA 221(d)(4) in Texas
Bud Malone, CEO of Mortgages USA, describes how he was able to take on a loan that other lenders had declined.
332-unit Columbia Community Picked Up by SVB; Eco-Friendly E-Waste Processor Announces $40M Investment
Kansas City-based SBV Communities has announced the purchase of the 332-unit Quail Run Apartments in Columbia. The purchase, which closed February 22nd, is SVB’s first step into the Columbia market.
Harlem’s Victoria Theater to Be Reborn as Mixed-Use Cultural Venue
Harlem’s historic Victoria Theater on 125th Street will undergo a $142 million renovation spearheaded by Danforth Development Partners and Exact Capital.
IKEA Sets Summer 2014 Opening Date for Miami-Dade Store
With a building permit pending for its future Miami-Dade store in Sweetwater, IKEA has already hired Balfour Beatty Construction to oversee the 417,000 square-foot project. With groundbreaking set for some time within the next couple of months, the Swedish retailer plans to open the store in summer 2014.
327-room Boutique Hotel to Break Ground This Summer in Downtown Austin
JMI Realty is finally optimistic about its 327-room hotel project planned for downtown Austin. After five years of being stalled due to the economic recession, the hospitality project is finally on track, expected to break ground by June 2013.
$20M ER Breaks Ground; Roby Commercial Completes VA Outpatient Clinic Renovation
Carolinas Healthcare system broke ground on its newest free-standing ER facility. The new venture will rise on Rocky River Road in Harrisburg, Cabarrus County
Hill International Tapped to Manage Suburban Seattle Casino Expansion Project
An expansion is in the works for the Suquamish Clearwater Casino Resort in Clearwater, Wash., and Hill International has won the contract to provide construction management services for the project.
Law Firm to Occupy 165 KSF in New Bay Adelaide Tower
Borden Ladner Gervais, a full-service law firm, will be occupying 165,000 square feet of office space in Bay Adelaide Center’s East tower, slated to open in 2015.