News
Austin Apartment Community Changes Hands in $35M Deal
The Dayton-based Connor Group recently purchased 290-unit River Oaks—a 40-acre gated apartment community located at 6607 Brodie Ln.—for $34.6 million. Built in 1997, the property includes amenities like a pool, spa, volleyball court and basketball court. The multifamily deal marks the second acquisition in Austin by the real estate investment firm.
Avison Young Named Exclusive Leasing Agent for Prime Data Center, Hires Specialist in NY Office
1547 Realty Partners, a company that was founded by industry professionals to invest in data center properties, has recently appointed Avison Young as the exclusive leasing agent for 1 Ramland Road, a state-of-the-art data center and disaster recovery facility in Orangeburg, N.Y.
Manhattan’s Thriving On The Ave Hotel Lands $80M in Refinancing
The 282-room On The Ave Hotel in Manhattan has been refinanced to the tune of $80 million.
CalSTERS, GI Partners Fund Acquires San Diego Data Center
DataCore, a fund co-founded earlier this year by CalSTERS and GI Partners, has acquired a two-story data center and office building in a submarket of San Diego.
South Florida Hospitality Sector in Spotlight as Two Luxury Hotels Trade
As a diverse mix of leisure and business travel demand generators is driving strong hotel performance in the Southeast, investors seem to be more and more eager to enter the South Florida hospitality market. Continue reading →
MetLife JV Acquires Constitution Center
Constitution Center, the largest privately owned office building in Washington, D.C., which recently completed a $250 million renovation, has been acquired by a joint venture between MetLife and an unidentified U.S.-based institutional investor.
Economy Watch: Retail Sales Peak in November; PPI, Unemployment Drop
Retail sales increased month over month in November. The Producer Price Index for finished goods fell in November, compared to the previous month. And unemployment claims continue dropping.
Dubai Hills Unveils $3B Master-Planned Project in MBR City
Emaar Properties and Dubai Holding have unveiled Dubai Hills, the first project in the Mohammed Bin Rashid City (MBR City), the largest joint venture in the region’s real estate sector.
SPECIAL REPORT: NYHC/NHC Speakers Warn of ‘Mounting Fears’ for Affordable Housing
There may be increasing concern about the prospects for affordable housing. Speakers at the New York Housing Conference (NYHC) and National Housing Conference’s (NHC) 39th Annual Awards program warned that the outcome of Capitol Hill fiscal negotiations may not be favorable to the industry’s production, preservation and investment programs.
Work Starts on $17 Million Affordable Housing for Seniors in Mt. Airy
Philadelphia-based real estate developer Nolen Properties broke ground last week on a new senior housing complex in the Mt. Airy neighborhood. The $17 million investment envisages a brick-and-terra cotta landmark building constructed in 1895 which will be upgraded and transformed into a 57-unit residential facility.