News
PCCP Provides $73M in Senior Loans to Three Properties
PCCP has provided approximately $73 million in senior loans, including $46 million to KHP Fund II L.P., a real estate private equity fund sponsored by Kimpton Hotels & Restaurants, to finance the repositioning of two hotels and $27.4 to refinance Millbrae Paradise, a residential development in Millbrae, Calif.
Dorel Renews 528 KSF Industrial Lease in California's Inland Empire
In a deal brokered by services firm Cushman & Wakefield, Dorel Juvenile Group has re-signed for 528,000 square feet of industrial warehouse and distribution space in Fontana, Calif., renewing an arrangement that goes back to 2006.
Inland Buys Shopping Centers in Missouri, Tennessee for $74M
Inland Real Estate Acquisitions has picked up two shopping centers — one located in Branson, Mo., and the other in metro Knoxville, Tenn. — for a combined total of $74 million.
Economy Watch: Construction Falls in February, Rises During Last 12 Months
Domestic construction spending was down slightly in February, but is up 5.8 percent in the last 12 months. The U.S. manufacturing sector expanded in March for the 32nd consecutive month. And while the euro zone suffers with high unemployment, China’s economy saw some encouraging signs.
New Orleans Adolescent Hospital to Sell; $35M Overhaul for John McDonough High
By Eliza Theiss, Associate Editor The Children’s Hospital of New Orleans has confirmed plans to buy the dilapidated New Orleans Adolescent Hospital (NOAH) at 210 State St. in Uptown. The Times-Picayune reports an expected selling price of $35 million that will generate much needed funds for the state’s public hospital budget . Children’s Hospital has […]
Vikings Stadium Plan Receives Majority Support from City Council
By Gabriel Circiog, Associate Editor The latest Minnesota Vikings stadium plan is now backed by a majority of the Minneapolis city council, the Minneapolis / St. Paul Business Journal reports. The development was announced by Gov. Mark Dayton; Minneapolis Mayor R.T. Rybak, City Council President Barb Johnson and six other council members posted online letters […]
Tabani Group Acquires Northgate Mall
By Adrian Maties, Associate Editor
Rockwood Real Estate Advisors announced on March 26 that it sold Cincinnati’s Northgate Mall on behalf of E3 Advisors, a court-appointed receiver. The Dallas-based Tabani Group acquired the mall through an affiliate, T Northgate Mall L.L.C., […]
McCarthy Tops Out Steel Construction of New $110 Million Math and Science Building
By Gabriel Circiog, Associate Editor McCarthy Building Companies has topped out steel construction for a new four-story Math and Science Building at San Diego Mesa College. The 206,000-square-foot facility, located at 7250 Mesa College Drive in the Clairemont area of San Diego, was designed by Architects | Delawie Wilkes Rodrigues Barker. The ground-breaking ceremony took […]
Lowe to Begin $70M Redevelopment of 13-Story Office Building in D.C. Suburb
Four years after acquiring the property formerly known as 1411 Jefferson Davis Highway in Crystal City, Va., Lowe Enterprises has kicked off a $70 million redevelopment of the building in an endeavor that will become the 308,000-square-foot 1400 Crystal Drive.
Ashkenazy Makes Regional Debut With $79M Bellevue Retail Buy
By Alex Girda, Associate Editor
Making its Pacific Northwest debut, Ashkenazy Investment Corp. has paid $79 million for the retail portion of the Bravern, the 1.6 million-square-foot Bellevue mixed-use complex. Ashkenazy, whose portfolio includes high-profile properties like Union Station in Washington, D.C. and Boston’s Fanueil Hall Marketplace, beat out at least a dozen other prospective buyers […]