News
Mumbai Residential Project Opens Pre-Bid to Overwhelming Response
Lodha Group, India’s premier real estate developers, launched the pre-bidding process for two projects within its massive luxury residential development named Codename Blue Moon in South Mumbai’s Worli area.
Mövenpick Hotels & Resorts Opens Fifth Property in Dubai
With the launch of the Mövenpick Hotel Apartments The Square on Jan. 20, Mövenpick Hotels & Resorts has become the first international hotel company to operate a property in Dubai’s elegant district of Al Mamzar.
Whitney Building Redevelopment Plan Backed by $8.5 Million State Financing
The plan to transform Detroit’s historic David Whitney Building into retail, apartments and boutique hotel is moving forward with $8.5 million in state financing that adds to the $82.5 million investment announced by developer David Di Rita at the end of 2012.
Twitter Chat: Rakesh Kishan on Today’s Corporate Real Estate Strategies
Rakesh Kishan, president & executive managing director of real estate and facilities management consulting firm UMS Advisory, chatted with CPE on Twitter about corporations’ post-recession priorities and outsourcing needs.
Google Invests $600M in Data Center, Michelin Announces $200M Expansion
The Palmetto State recently secured two major investments with significant impact not only on local economy and job creation, but also on South Carolina’s global image. First off was Google, Inc., launching a $600 million investment in Berkeley County, South Carolina.
Bakery Square 2.0 Development To Break Ground in March
Walnut Capital and its financial partner, the RCG Longview Fund, have closed on the acquisition of the vacant Reizenstein School in Pittsburgh’s East Liberty section. The purchase of the property will allow the developers to move forward with their plans for the approximately $100 million Bakery Square 2.0 development.
Plans now call for three office buildings totaling 400,000 square feet, two 175-unit apartment buildings, 57 rental townhouses, an underground parking garage, new streets, as well as public and private green spaces. It is estimated that the project’s full build-out period will span over five years. “Bakery Square 2.0 will be another world class development and is expected to create more than 1,200 new jobs and offer amazing office and housing opportunities that will attract new businesses and residents,” Mayor Luke Ravenstahl said.
New Holiday Inn Express Opens in Bensalem; Philadelphia Area Hospitality Industry Going Strong
The new Holiday Inn Express opening points to at least four new hotels that are under development or in the early stages of design or approval in the city
McKinney Properties Puts The Cumberland on the Market
It’s no secret anymore that Nashville is the new it-girl of the multifamily market. After consistently making list after list of places to live, work and play, with a hotel boom well underway, a major convention center soon to open and even a hit TV show set in Nashville, Music City’s popularity is on an upswing – and so are real estate prices.
Blackstone Taps AMB Property’s Barzegar for CEO of LogiCor
AMB Property Corp.’s loss is LogiCor’s gain. Mo Barzegar has just been hired to serve as president & CEO of LogiCor, the European logistics real estate arm of investment and advisory firm Blackstone.
Block Funds Acquires 396-Unit Luxury M-F Project in Texas
Block Funds, a Kansas City, Mo.-based commercial real estate fund sponsor, has acquired The Settlement, a 396-unit luxury apartment home community located in Kyle, just south of Austin.