News
HealthPartners Opens $36M Mental Health Building at Regions Hospital
HealthPartners recently announced the opening of a new mental health building at Regions Hospital. The new eight-story facility will replace the existing inpatient facility on its St. Paul campus.
TDI to Build $50M Apartment Project in Las Colinas
Irving-based TDI announced plans to build a $50 million apartment complex in Las Colinas. Construction on the 386-unit building, known as Aston at Las Colinas, is expected to begin in March 2013, the company announced in a news release. he developer recently purchased 6.7 acres of land at Northwest Highway and Las Colinas Boulevard, which will serve as the construction site for the six-story residential tower.
CBRE Arranges $212M in Financing for Virginia Office Complex
CBRE Capital Markets announced it arranged $212 million in financing for Metro Park, a trophy-class office portfolio in Alexandria, Va. CBRE worked exclusively on behalf of Clarion Partners, a leading U.S. real estate investment manager based in New York. SunTrust Bank and HSBC Credit Corp. have provided the funding for the seven-year loan. It has a fixed rate of roughly 3 percent and a 50 percent loan-to-value ratio.Metro Park is a 37-acre office park, strategically located at the crossroads of Northern Virginia’s major roadways and extensive public transportation network. It comprises 1.2 million rentable square feet within seven office buildings. Clarion Partners acquired it in 2006 for $214 million.
USGBC Awards LEED Platinum to South Boston’s Castle Square Apartments
The U.S. Green Building Council (USGBC) has awarded LEED Platinum Certification, which is its highest green building rating, to a 540,000-square-foot mixed-use property in Boston’s vibrant community of South End.
Dual-Branded Hilton Opens in Midtown; Imperial Hotel Renovation Eyes LEED Gold Certification
Midtown Atlanta is now home to Georgia’s first dual-branded hotel, as Hilton Worldwide has recently celebrated the opening of its newest hotel, Hilton Garden Inn® and Homewood Suites by Hilton.
Culver City Creative Office Campus Development Breaks Ground
A new Culver City office campus officially broke ground recently when developer Hackman Capital Partners LLC kicked off the construction of its WorkScapes at the Hayden Tract facility. The project includes the renovation and conversion of three different industrial buildings, operation for which the company has also recently secured a senior loan from Deutsche Bank. The space will be turned into creative offices that would match current market standards for facilities in the Westside. Continue reading →
ProMed Pays $22 Million for Part of Baltimore Building
ProMed Properties LLC, a wholly owned subsidiary of Gazit-Globe, recently purchased four floors of the Johnston Professional Building in North Baltimore. The New York-based company paid $21.75 million to buy a leasehold interest for the third, fourth, fifth and sixth floors of the eight-story building.
University of Arizona Launches $100M Cancer Center at Phoenix Biomedical Campus
The Arizona Board of Regents approved the construction of The University of Arizona Cancer Center, a $100 million cancer clinic at the Phoenix Biomedical Campus. Continue reading →
Resource Real Estate Opportunity REIT Buys 216-Unit M-F Asset
The Resource Real Estate Opportunity REIT sponsored by Resource Real Estate Inc. has recently announced it has purchased the Park Forest Apartments in Oklahoma City, Okla.
After 50 Years, Preservation Group Graduates from Tenant to Owner at Colonial Schoolhouse
by Adriana Pop, Associate Editor After leasing the Brick School House from the city of Providence for a half-century, the Providence Preservation Society is graduating from the historic building’s long-time tenant to its new owner. The organization is acquiring the Brick School House with the help of a $341,500 grant from The Champlin Foundations. PPS […]