News
Dees Stribling’s Economy Watch Weekly: May Indicators Down
With investors and employers nervous, May wasn’t a good month for the economy. CPE‘s economic analyst, Dees Stribling, gives his podcast for the week ending June 1, 2012.
Hull Storey Gibson Picks Up 434 KSF Retail Mall in Virginia
With an eye toward expanding its presence in the South, Hull Storey Gibson Cos. has just purchased Liberty Fair Mall in Martinsville, Va. The transaction adds 434,300 square feet to the retail property owner’s portfolio.
Ryan Seacrest Pays $37M for Ellen DeGeneres’ Compound
By Alex Girda, Associate Editor When it comes to sheer volume and value, the Los Angeles celebrity home market is a standout. Estates regularly command higher prices than mid-size commercial properties. Recent case in point: Daytime TV host Ellen DeGeneres and her spouse, Portia de Rossi, recently sold their Beverly Hills compound to fellow headliner Ryan […]
Stadium Place Tower Wins Key Approval From City Panel
By Alex Girda, Associate Editor The $180 million Stadium Place development got a a major boost when the Pioneer Square Preservation Board unanimously approved the controversial design for the project’s second apartment tower. Designed by ZGF architects, the 333-unit South Tower will reach an elevation of 240 feet, only 30 feet lower than CenturyLink Field, which is less than 500 feet away […]
Millennium UN Plaza Hotel Undergoes Complex Makeover
By Veronica Grecu, Associate Editor New York City’s iconic Millennium UN Plaza Hotel located next to United Nations headquarters in midtown Manhattan will undergo a complex interior renovation project by Grace Leo, CEO and Founder of G.L.A. Hotels—a management and consultancy firm using design as a tool for repositioning hotels. Designed by visionary architect Kevin […]
‘Magic’ Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center
Miami’s Flagler Corridor will soon have a new Walmart-anchored shopping center, as Canyon-Johnson Urban Funds has recently purchased a 32-acre parcel in this respect in an all-cash transaction.
Fairmont Sells to Oaktree and Woodbridge JV for $200M
By Alex Girda, Associate Editor The Fairmont Hotel, a Beaux Arts landmark that has hosted presidents, foreign heads of state and celebrites since its 1907 debut, has come under the ownership of Oaktree Capital Management L.P. and Michael Rosenfeld’s Woodbridge Capital Partners L.L.C. The joint venture acquired the 591-key property from Maritz, Wolff & Co. […]
Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills
By Eliza Theiss, Associate Editor Developers are preparing to break ground on Fieldstone Apartments’ third phase, reports The Memphis Daily News. Working under the name Fieldstone Apartments III Co., developers filed a $7.5 million building permit application with the city/county Office of Construction Code Enforcement. Fieldstone’s third phase will consist of 102 garden-style apartments and […]
174-Key Holiday Inn Purchased by GF Management Affiliate
By Eliza Theiss, Associate Editor GF Management, a leading national hotel ownership and management company, has announced in a press release the purchase of the 174-key Holiday Inn—Charlotte University by GF affiliate UPHIC Associates LLC for an undisclosed amount. The hotel is located at 8520 University Executive Park Dr., a quick trip north of Charlotte’s […]
HFF Closes Sale of $96M CRE Loan Portfolio
Acting on behalf of a major life insurance company, HFF has wrapped up the disposition of a portfolio of 28 sub- and non-performing commercial loans valued at $96.2 million. A distressed debt fund acquired 25 of the loans, while the remaining three were sold to separate owners.