News
Three New Student Housing Complexes to Open Near N.C. State University
by Adriana Pop, Associate Editor
Construction of three new luxury student complexes is underway near North Carolina State University in Raleigh, N.C.
Slated to open simultaneously this summer, the three developments will offer a total of 1,770 off-campus bedrooms, the NewsObserver reports. In spite of the growing concern over the cost of higher education, experienced student housing […]
First Wind Closes on $236M Loan for Hawaii’s Largest Wind Project
by Adriana Pop, Associate Editor
First Wind announced it has obtained $236 million in financing to develop Hawaii’s largest wind-energy project.
The 69 megawatt (MW) Kawailoa Wind farm will be built on Kamehameha Schools’ Kawailoa Plantation lands on the North Shore of Oahu. Once complete, the wind energy facility will have the capacity to power the equivalent […]
Newton High School and TWA Flight Center to Receive Preservation Awards
By Veronica Grecu, Associate Editor
Two Queens properties have been nominated for the Lucy G. Moses Preservation Awards, reports the Queens Courier. On April 25, during an official ceremony at the New York Historical Society on Central Park West, the “preservation […]
New Cambria Suites Hotel Breaks Ground in Miami
By Georgiana Mihaila, Associate Editor
Miami is one step closer to getting a brand new Cambria Suites hotel. SunflowerHospitality, Delant Construction and Choice Hotels International celebrated the official groundbreaking of the new Miami hotel on March 28 during an on-site ceremony […]
Wilder Cos. Nabs 412 KSF Retail Management Contract for Two Properties
The Wilder Cos. has just added 412,000 square feet of shopping-center responsibilities to its plate. The retail real estate services firm won a contract to spearhead leasing and management at Suburban Philadelphia’s The Shops at Valley Square, and another assignment to provide the same services at Somerset Square, located just outside of Hartford, Conn.
Ramada Inn Gets Makeover, Becomes Cedar Hotel
By Eliza Theiss, Associate Editor The former Ramada Inn at 1471 Brooks Road is getting a multimillion dollar facelift from a group of Chicago investors. According to The Memphis Daily News, Cedar Street Hospitality purchased the 245-key hotel in a 2010 auction for $1.55 million. Re-branded as the Cedar Hotel under the Clarion umbrella, the […]
Apartment Complex Sells for $33.3 Million; Car Country Club in Development for Huntersville
By Eliza Theiss, Associate Editor
Greensboro-based Bell Partners Inc. has recently acquired the residential piece of Morrison at SouthPark Apartments from Washington-based Madison Marquette for $33.3 million.
Since its acquisition, the 214-unit apartment complex at Sharon and Colony Roads has been renamed Bell Morrison. According to a Charlotte Business Journal report, property management for the seven-story apartment […]
Even More for Inland American: $393M in Hotel Purchases
Inland American Lodging Group Inc. continues to add upper-upscale and luxury assets to its portfolio, acquiring five hotels in five states with a total of 2,302 rooms this week for about $393 million.
Economy Watch: Initial Unemployment Claims Down, 4Q GDP Stands Pat
Unemployment claims for the week ending March 24 dropped by 5,000 to reach 359,000. The OECD sees economic growth for America, but a slower road for the large euro-zone economies. And home sales in Las Vegas were up in February, driven by all-cash buyers.
Inland American Spends $113M on San Francisco Airport Marriott
In a deal valued at $112.7 million, Inland American Lodging Group has acquired the San Francisco Airport Marriott in Burlingame, Calif., from Host Hotels & Resorts.