News
JBJ Soul Homes is Philly’s Newest Low-Income Housing
November 13 was the official ground breaking for a new mixed-use project on a half-acre triangular block located at the intersection of Broad Street, Fairmount and Ridge Avenues in the Francisville neighborhood and close to Philadelphia’s iconic Divine Lorraine building.
Three Orlando-Area MOBs Part of $322M Portfolio Acquired by Duke Realty
In one of the largest medical office building portfolio transactions, Duke Realty paid $332 million for 14 properties in six states. Seller Seavest Healthcare Properties LLC has divested two of its early discretionary funds in the transaction which included assets totaling more than 1.2 million square feet.
HFF Secures Debt for Holland Partners’ Downtown M-F Project
Holland Partners Group Management Inc. has secured $45 million in construction and permanent financing for a 242-unit apartment complex in Downtown San Diego. Dubbed 15th and Market, the 243,000-square-foot property will include 10,000 square feet of ground-floor retail space.
McCann Realty Partners Picks Up 336-Unit Apartment Asset
Richmond, VA-based McCann Realty Partners, LLC has announced the purchase of the 336-unit Discovery at Mountain View Apartments in Nashville.
New Joint Venture to Acquire Burbank Media District Office Campus
Hudson Pacific Properties, Inc. has announced that it has entered a new joint venture, with M. David Paul & Associates/Worthe Real Estate Group, that will move to acquire one of the largest properties in the Burbank Media District. The new JV is set to close on the two-building facility named The Pinnacle, one of the highest-rated office properties in the district. MDP/Worthe is contributing its ownership of the Pinnacle II building to the venture. The joint venture will own the Pinnacle buildings for approximately $342.5 million, subject to $218.6 million of project financing.
Hilton Debuts $140M Downtown Hotel, Touted as Convention Magnet
The $140 million Hilton Columbus Downtown opened its doors to the public on Oct. 19. Local businesses and city officials are counting on the new property to help the capital city get more competitive in attracting conventions and other events.
Former Lincoln Park Adult Movie Theater Goes Residential
Wayne Metropolitan Community Action Agency (WMCAA), a non-profit organization that provides youth and family services and homeless prevention programs to low- and moderate-income individuals and families in Wayne County, is breaking ground this month on a new mixed-use development that would replace the once famous Park Theater in the City of Lincoln Park.
Texas Developer Breaks Ground on South Boston Residential Tower
Hanover Co., a Houston-based real estate company specializing in the acquisition, development, and management of multifamily properties, broke ground on November 16 on one of the largest housing developments in Boston’s Seaport District.
PMC Acquires 301 North Charles Street for Apartment Conversion
PMC Property Group Inc. has closed on the acquisition of 301 North Charles Street. Kirby Fowler, President of the Downtown Partnership of Baltimore, announced the acquisition via Twitter. The building will be converted to apartments.301 North Charles Street is a 92,500-square-foot office building at the northeast corner of Saratoga Avenue. It was constructed in 1930 and served for a long time as the
Zeckendorf Kicks Off Development of $500M Condo Project Near United Nations
A groundbreaking event has marked the start of 50 United Nations Plaza, an upscale condominium property adjacent to the United Nations headquarters in Manhattan.