News
Behringer Harvard Taps Watt to Head Net Lease Platform
Behringer Harvard is launching a new net lease platform, and the investment manager has tapped longtime industry player Brad Watt to move the effort forward.
344 KSF Masdar, International Renewable Energy Agency HQ Break Ground
Masdar City, the low-carbon, low-waste, emerging cleantech cluster and one of the most sustainable communities and mixed-use developments in the world continues its trailblazing development in United Arab Emirates.
Greystone, Bassuk Form JV to Focus on ‘Creative’ M-F Financing
Greystone and The Bassuk Organization, both of New York, have formed a joint venture intended to provide expanded real estate and financial services, including “creative debt and equity financing,” to CRE clients with multi-family assets across the United States.
Orbach Group Acquires Manhattan, Pennsylvania M-F Buildings for $70M
The Orbach Group acquired two portfolios totaling 635 rental apartment units across New York City and Pennsylvania for $70 million, increasing its multi-family holdings to more than 5,000 total units.
Economy Watch: IEA Predicts More Boom in U.S. Energy Production; Railroad Traffic Rises, Save for Coal Shipments
The International Energy Agency, which released the 2012 edition of its “World Energy Outlook” on Monday, predicts that the United States is well on the way to becoming the world’s top oil producer. The American Association of Railroads reported on Monday that U.S. rail traffic—a broad indicator of economic activity—continues to show mixed results, and that impacts from Hurricane Sandy can be seen in decreased traffic in recent weeks.
CyrusOne Buys Downtown Cincinnati Building; Flaherty & Collins Snaps Up Oakley Site
CyrusOne Inc., the wholly owned subsidiary that owns and operates Cincinnati Bell Inc.’s data center business, has acquired its parent company’s downtown Cincinnati building.
Luxury Condominium High-Rise Coming to Honolulu
HHMK Development, LLC, comprised of landowner and developer The Howard Hughes Corporation and a joint venture of Honolulu development firms, The MacNaughton Group and Kobayashi Group, are developing a luxury residential tower above the existing Nordstrom parking structure at Ala Moana Center in downtown Honolulu. Called ONE Ala Moana, the 23-story high-rise will offer 206 one, two and three bedroom condominium homes ranging from 760 to 4,100 square feet. Prices will go from approximately $500,000 for the lower floor one-bedroom condominiums to over $9 million for penthouse suites. The average price per unit will be around $1.6 million.
Houston Club Moves to One Shell Plaza, Plans Multimillion-Dollar Club Renovation
The 118-year-old Houston Club has recently entered into an agreement with the Plaza Club to relocate to the Plaza Club’s current location on the 49th floor of the One Shell Plaza.
Chesapeake Lodging Trust Acquires 222-Room The Hotel Minneapolis
Chesapeake Lodging Trust has recently acquired The Hotel Minneapolis, a 222-room Marriott Autograph Collection hotel, for $46 million, or approximately $207,000 per key. The self-advised lodging real estate investment trust funded the acquisition with a borrowing under its revolving credit facility.
Trammel Crow to build $19M apartment community in Oak Cliff
Trammel Crow Residential announced it would build a 200-unit apartment community in Oak Cliff next year. The four-story apartment project will sit on about three acres of land, on the banks of the Trinity River and is reported to cost $19.1 million. According to the Dallas Morning News, the city of Dallas’ office of economic development will subsidize the project with $4 million from the neighborhood tax increment finance district.