News
The Divine Lorraine Hotel Saga Continues with Redevelopment Plan
By Veronica Grecu, Associate Editor
After years of failed renovation attempts and a recent announcement that a sale is imminent, Philadelphia’s Divine Lorraine Hotel and the adjacent lot could be turned into a center for art and public education.
The redevelopment idea […]
LEED-Certified Fairlane Green Changes Hands for $47 M
By Veronica Grecu, Associate Editor
Phoenix, AZ-based Cole Real Estate Investments recently paid $47 million for a 270,000-square-foot retail power center located in a historically strong corridor in Allen Park, south of Detroit. Opened in 2005, the retail center is almost […]
Luxury Parc Huron Apartment Tower to be Sold for $110 Million
By Gabriel Circiog, Associate Editor An affiliate of Dallas-based L&B Realty Advisors LLP has agreed to purchase the luxury Parc Huron apartment tower for $110 million, Chicagorealestatedaily.com reports. The 221-unit building, located at 469 W. Huron Street in the River North neighborhood of Chicago, will be sold by local developers Tony Rossi, Thomas Moran and […]
Developers to Bring over 700 Units to Pflugerville and Bee Cave
By Camelia Bulea, Associate Editor
The Austin area will soon see the rise of two residential projects totaling 720 apartment units: the Morningside development and the Mansions at Stone Hill. The latter, which is currently being developed at the Stone Hill […]
Invesco, Penzance JV on 280 KSF Mixed-Use D.C. Project
Invesco Real Estate and Penzance have made it official. The two companies just announced the establishment of their joint venture for the development of 3001-3003 Washington Blvd., a 280,000-square-foot mixed-use project in Arlington, Va., just outside of Washington, D.C.
Prologis Signs 270 KSF Industrial Lease in L.A.
With the signing of a 270,764-square-foot lease in Carson, Calif., Prologis has now fully leased the Prologis South Bay Distribution Center to 3PL Global L.L.C., a third-party logistics provider. The building, which is LEED Silver certified, is located near the Ports of Los Angeles and Long Beach.
Enterprise, Bellwether Merge Operations
Giving both parties the ability to expand their geographic reach and product offerings, Enterprise Community Investment and Bellwether Real Estate Capital have merged into a new firm, Bellwether Enterprise Real Estate Capital, that could produce $1.5 billion in mortgages this year.
IPD Conference: Unfinished Business Hampers Cap Markets' Rebound
Real estate capital markets present a mixed bag of promise and unresolved issues left over from the Great Recession, according to the leading economists, analysts and financiers who spoke at a forum sponsored by IPD in New York City.
Economy Watch: Housing Starts Edge Down, Permits Up
The residential housing market continues to make headlines: In January, starts were down, but permits were up. Ben Bernanke began a four-part lecture series on the Fed. And the Greek parliament approved its part of the country’s bailout deal.
Stiles Begins Construction on Ft. Lauderdale Mixed-Use Development
A new mixed-use development is sprouting up in Plantation, Fla., at the hands of Stiles. In a two-part endeavor, the developer will erect a new luxury apartment complex and redevelop a neighboring commercial retail segment in the city’s Midtown District within the greater Ft. Lauderdale area.