News
Paycom Plans $11.8M Expansion of W. Memorial Rd. Headquarters
Paycom has recently announced plans to expand its operations in Oklahoma by adding an $11.8 million fully-equipped building adjacent to its current headquarters in Oklahoma City. The payroll and human capital management technology company is expected to house around 700 additional employees in the new building. A groundbreaking ceremony is scheduled for March 2013.
Washington University Gets Approval for $80M Residential, Retail Project
Washington University in St. Louis has recently obtained final approval for an $80 million student apartment and retail project in the Delmar Loop in University City and the city of St. Louis.
Luxury Twin Towers Planned for Australia’s Top Investment Suburb
A new iconic twin tower development project is planned by Sydney-based Australian and Japanese trust fund Galileo in South Brisbane.
Long-Anticipated Senior Living Center Coming to Staten Island
An almost two-decade effort initiated by the Metropolitan Council on Jewish Poverty (known as the Met Council), the project is backed by $36 million in tax exemptions through the city’s BuildNYC Resource Corporation–a NYCEDC-administered organization whose main goal is to facilitate access to tax-exempt bond financing for non-profit institutions–and a $45.2 million capital grant from the City Council.
Hines Picks Up Mercedes-Benz Bank Building in Germany
International real estate firm Hines purchased the Mercedes-Benz Bank Building in Stuttgart, Germany, for a reported $70 million.
GoldOller Grabs 555-Unit Jacksonville M-F for $56M
GoldOller Real Estate Investments continues to enhance its portfolio of high-quality multi-family assets in secondary and tertiary markets with the acquisition of Country Club Lakes Apartments in Jacksonville.
Stockbridge, SBE, Daniels JV to Develop $400M SLS Hotel Seattle
One day after announcing it was breaking ground on SLS Las Vegas, hospitality developer SBE Entertainment Group said it was bringing the SLS hotel brand to downtown Seattle, where it will team with Stockbridge Capital Group and Daniels Real Estate to put a 184-room luxury hotel in Daniels’ planned $400 million M-U tower.
Orlando Fashion Square Mall Trades for $35M; Duke Realty Closes Five Notable Leases
By Georgiana Mihaila, Associate Editor Pennsylvania Real Estate Investment Trust is pursuing its previously announced strategy of improving the quality of its portfolio by selling non-core assets. One of the first non-core assets to trade is Orlando Fashion Square Mall, recently sold in a $35 million cash transaction. “The sale of Orlando Fashion Square and […]
Developers Ross and Perez Show Interest in Stalled Island Gardens Project
According to the South Florida Business Journal, the company headed by Dolphins owner Stephen Ross—Related Cos.—as well as fellow developer Jorge Perez’s The Related Group will assist Flagstone Properties in developing the long-stalled Watson Island project.
Massachusetts Commits to $67 Million for 23 Affordable Housing Developments Across the State
Keeping up with the state’s efforts to support new housing developments, the Pattrick-Murray administration revealed last week it has committed $67 million in affordable housing resources and tax credits that would back 23 developments in 21 communities across Massachusetts.