News
Muhlstein Tapped to Head up Entertainment at JLL
Industry veteran Carl Muhlstein was hired by JLL to spearhead services for clients in the entertainment and creative sectors of Los Angeles.
JV Buys Office Building in Chicago’s West Loop
A joint venture has purchased 230 W. Monroe, a building in Chicago’s popular West Loop area. The building is the second of two similar Class B buildings to have been sold by the General Electric Pension Trust affiliate.
Student Housing Booms in Columbia—$80M Project Approved
It was just a few weeks ago that local developer Ben Arnold, in a joint venture with Monarch Ventures of Charlotte, N.C., filed papers with the Columbia Planning Commission for the Monarch at USC—a 600-bed student housing project
Economy Watch: State Unemployment, Leading Economic Index, Gas Prices Up; GSE Terms Changed
Regional and state unemployment rates were reported slightly higher. The Leading Economic Index is also slightly up, as are gas prices, spreading worry that the uptick may trigger a shopping slump by consumers. Fannie Mae and Freddie Mac bailout terms have changed; now the two GSEs need to pay whatever profits they make rather than the fixed amount.
Akron Children’s Announces $200M Tower Expansion
By Adrian Maties, Associate Editor Akron Children’s Hospital has announced its plans to build a $200 million expansion of its campus in downtown Akron. The project is called ”Building on the Promise” and will help the hospital keep up with the increase in patients and services. This is Akron Children’s first major project in 22 […]
Talbert House to Build 39-Unit Affordable Housing Development in East Price Hill
By Adrian Maties, Associate Editor Talbert House started work on Aug. 9 on the Talbert House Grand Development Initiative, a complete renovation of an apartment building in East Price Hill that will provide affordable housing for people who want to live in a drug- and alcohol-free environment. More than 50 community leaders attended the groundbreaking […]
Kreiger JV Buys Villas at Langley; Grady Management Prepares to Start M-F
By Adrian Maties, Associate Editor Sawyer Realty Holdings sold the Villas at Langley, an apartment complex in Hyattsville, to Krieger Boulevard L.L.C. and Krieger Skyline L.L.C. The cost of the transaction was $48 million, or about $81,000 per unit. Transwestern’s Mid-Atlantic multifamily group represented the seller. The Villas at Langley is a 590-unit complex located at […]
Bell Partners Adds $38.6M Apartment Community to Its Portfolio
Bell Partners Inc. has purchased Villas of St. Johns Apartments for a reported amount of $38.6 million. The company, which acquired the property on behalf of its investors, will be renaming the property Bell Riverside.
Architect Chosen to Design $8.6M Eddy County Sherrif’s Offices
Albuquerque-based Van H. Gilbert Architect PC (VHGA) has won the bid to design the new Eddy County Sheriff’s Department offices. The $8.6 million project already has most of the financing necessary fior construction. New Mexico Business Weekly quoted County Manager Allen Sartin saying that $2 million for the law enforcement complex had been set aside, and another $5 million would be allocated the next year.
City Approves Pedestrian Skywalk for Downtown Parking Garage
by Adriana Pop, Associate Editor The Metropolitan Development Commission has approved Flaherty & Collins Properties’ request to add two upper-level pedestrian connectors to the five-story parking garage planned for downtown Indianapolis. According to the Indianapolis Business Journal, one of the bridges would lead to West New York Street to the south of the garage, connecting […]