News
Retail Opportunity Investments Acquires $114M Grocery Anchored Portfolio
Retail Opportunity Investments Corp. has closed on three shopping centers and has a binding contract to acquire a fourth in a $114 million acquisition encompassing approximately 444,000 square feet of gross leasable space in Southern Calif.
Economy Watch: No Cliff Deal Over Weekend; Pending Home Sales Up; U.S. Population Growth Slows
No agreement has yet been reached on the matter of the fiscal cliff, despite the end of the year. Discussions might carry over into January. According to NAR, the Pending Home Sales Index is at the highest level since April 2010. And U.S. population growth slows, compared to what was initially predicted.
Driftwood Hospitality Buys Hyatt Regency Tampa, Plans Hilton Rebranding
After being on the market for nearly six months, the 521-room Hyatt Regency in downtown Tampa is now under new ownership as Driftwood Hospitality Management, LLC purchased the property the property for an undisclosed amount. This acquisition marks Driftwood’s re-entry to the Tampa market;
Lovelace Health to Develop $55M Hospital in Las Lunas in 2013
A partnership between Lovelace Health System and Oklahoma-based Miller Architects Inc. has recently announced plans to develop a $55 million hospital in Los Lunas. Construction on the 110,000-square-foot healthcare project is expected to begin in late 2013 with an opening date set for 2015.
Onyx Equities Grabs Prominent Office Building; Avison Young Hires Tri-State Pharma Industry Expert
By Veronica Grecu, Associate Editor
Onyx Equities LLC, a Woodbridge, N.J.-based private real estate investment, development and management firm, closed on one of Long Island’s largest office building sales of 2012. On December 19, Onyx completed the acquisition of Atria West—a 235,000-square-foot, […]
Terranova/Acadia Pay Record $139M for Lincoln Road Retail Portfolio
In what seems to be Florida’s largest retail acquisition of 2012, Terranova Corporation and Acadia Realty Trust paid $139 million for a three-building portfolio on Lincoln Road in Miami Beach. This addition of 801, 826, and 719 Lincoln Road to the Terranova/Acadia portfolio makes them the largest pure retail owner on the street.
Work Begins on 36-story Apartment Tower in Downtown Austin
A partnership comprising San Antonio-based Lynd and Austin-based Endeavor Real Estate Group broke ground last week on a planned 36-story tower that will add 358 luxury units to downtown Austin. Developers plan to complete the project in the third quarter of 2014.
Crescent Resources Announces $36M Student Housing Project
Charlotte-based real estate development company Crescent Resources has announced Circle University City, a 546-bed student housing project near the University of North Carolina (UNC) Charlotte campus. onstruction one the $36 million is set to start by December 23rd.
