News
Alta Bates Summit Medical Center’s New Parking Structure Unveiled
By Alex Girda, Associate Editor The Alta Bates Summit Medical Center in Oakland has an ongoing expansion project that is apparently starting to get serious attention as one of the early phases of development was recently opened to the public. The Summit Campus’ new parking structure was opened recently and is a reminder of the […]
$142M Arts Center Breaks Ground
With municipal projects meant to lure tourists on the rise across the country, Charleston has joined the race.
Carlyle Group Buys Lender-Owned Independent Living Community for $19M
The Carlyle Group has purchased the lender-owned independent living community Brighton Bay for $19 million. The sales price represents $102,703 per unit or $85 per square foot.
Branch Design Breaks Ground on 176-Unit Market-Rate Apartments in Sante Fe
Branch Design and Development announced it would break ground on the 176-unit San Isidro Apartments in Santa Fe this week. The New Mexican reported that this was Santa Fe’s first large market-rate apartment community in 15 years. The financing for the project is provided by Key Bank Real Estate Capital, while the construction and permanent loan is guaranteed by the U.S. Department of Housing and Urban Development, the New Mexico Business Weekly reported.
Chesapeake Lodging Trust Acquires W Chicago-Lakeshore Hotel
By Gabriel Circiog, Associate Editor Chesapeake Lodging Trust announced that it has purchased the W Chicago-Lakeshore hotel from Starwood Hotels & Resorts Worldwide Inc. The Annapolis-based real estate investment trust paid $126 million, or around $242,000 per key, for the 32-story hotel. Located at 644 North Lake Shore Dr. overlooking Lake Michigan, the luxury property […]
Grand Peak Properties Revives Transit-Oriented Development Project
By Gabriel Circiog, Associate Editor Grand Peaks Properties is set to revive a transit-oriented development project in northern Douglas County, Our Colorado News reports. Paul Herskowitz, senior vice president of Grand Peak Properties, said construction of the project was set to begin in 2008 but, due to the economic crisis—which took its toll on the […]
Economy Watch Weekly: Falling Off the Fiscal Cliff
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Aug. 24.
Bedok Mall Joins Ambitious M-U Development in Singapore
By Alex Girda, Associate Editor The Singapore mixed-use market is on track to see a large project take shape as the Bedok Mall, the area’s first major shopping mall, was announced for fourth quarter of 2013. Bedok is Singapore’s largest estate and the retail project is just a phase in a massive upcoming retail-residential-transport development, the first of its kind in the region. The Bedok Mall project will join the existing Bedok Residences and the forthcoming Bedok transport hub, consisting of the Bedok MRT station and the new bus interchange to complete the vision. The shopping mall will boast a…
LYND Buys M-F Portfolio with $200M Unpaid Principal Balance
By Scott Baltic, Contributing Editor LYND, of San Antonio, Texas, in partnership with Florida Value Partners, of Miami Lakes, Fla., has acquired a portfolio of 11 multi-family properties in a court-appointed receivership sale brokered by CBRE, LYND announced Monday. The original loan balance was $200 million; the purchase price was not disclosed. “This pretty much followed the model of similar transactions we’ve made over the last couple of years,” said A. David Lynd, LYND’s president and COO. “We continue to seek opportunities that align with our investment strategy of acquiring value-add properties where we can effectively use our operating platform…
Lionstone JV Buys Eight Tracts at Lantana with Capacity for 1.1 MSF of Office Space
By Gail Kalinoski, Contributing Editor More than 1.1 million square feet of office space could be built on eight undeveloped land tracts totaling 154 acres in an Austin, Texas, mixed-use development that Stratus Properties Inc. has sold to a subsidiary of The Lionstone Group, Lincoln Property Group and Greenfield Properties for $15.8 million in cash. Since it purchased the 738 acres in January 1994 for $4.1 million, the Austin-based residential and commercial development company has sold properties at the Lantana site for an aggregated sales price of about $100 million and with an aggregate sales cost of approximately $46.1 million. …
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