News
LDG Development Opens $24M Affordable Apartment Community
Baton Rouge has gained yet another apartment community: Mallard Crossing, a 192-unit affordable housing complex on Greenwell Spring Road.
Bayer to Construct $2.65M North American Bee Care Center
Bayer CropScience has announced plans for the development of a North American Bee Care Center at the company’s headquarters in Research Triangle Park. The estimated cost of the project is $2.65 million, the Herald Sun reports. Construction on the 6,600-square-foot LEED Gold-certified facility is expected to begin in February. Upon completion in July 2013, the center will serve as a gathering place between researchers, bee experts, students, visitors and leading Bayer scientists. “We understand the necessity for healthy bees as pollinators and their critical role to agriculture, and by working with scientists, growers, beekeepers and customers, we strive to create new approaches and solutions to benefit bee health and the global food supply,” said Jim Blome, president and CEO of Bayer CropScience North America.
American Realty Capital Properties to Acquire ARCT III for $2B
American Realty Capital Properties Inc. and American Realty Capital Trust III Inc., two separate net-lease REITs that count investment advisory firm American Realty Capital as their original sponsor, will soon become one.
Prudential’s Transition from Twardock to Durning Has Deep Roots
Yesterday’s announcement that Prudential Mortgage Capital Co. president David Twardock will retire in April, to be succeeded by David Durning, currently senior managing director and the company’s head of originations, goes back 20 years.
Savanna Completes Sale of Manhattan’s 104 West 40th St. for Reported $100M
Savanna, a New York-based real estate private equity and asset management firm, has completed the sale of 104 West 40th St., a 210,000-square-foot, 20-story Class A office building located next to Bryant Park in Midtown Manhattan, to Princeton International Properties.
Parkway Closes on $22.5M Tampa-Westshore Office Building Purchase
Parkway Properties, Inc., in the wake of its recent shopping spree, has also announced closing on the previously announced deal to acquire the Westshore Corporate Center in Tampa for a net purchase price of $22.5 million.
Indian Pueblos Marketing Plans to Build Shopping Center on Former Albuquerque Indian School Site
Indian Pueblos Marketing Inc. has recently announced plans to develop a shopping center on the former Albuquerque Indian School, near 12th Street and Indian School Road. Currently negotiating with a natural foods grocery store and two large restaurants to anchor the future retail development, IPM hopes to break ground on an ABQ Uptown-like retail center in 2013.
Economy Watch: Fiscal Cliff Deal? Holiday Travel to Peak; Empire State Survey: NY Manufacturing Down
There are rumors in Washington of a fiscal cliff deal on the table. More Americans are predicted to take road trips this holiday season, reflecting a better economy. And according to a New York state survey, New York manufacturing is receding.
Ashley Oaks Apartments Changes Hands in $30.8M Deal
Steadfast Income REIT, Inc. made its third acquisition in Texas on Nov. 29, with the purchase of Ashley Oaks in North Central San Antonio. The 462-unit garden-style apartment community was sold for $30.8 million. Built in three phases, in 1985 and 1995, the multifamily property is currently 93 percent occupied.
132-Key Hotel Indigo New Orleans Garden District Opens
Hotel Indigo, the first global boutique hotel brand has announced opening its two newest locations: Hotel Indigo London Kensington-Earl’s Court and Hotel Indigo New Orleans Garden District, thus passing the 50th property milestone.