News
AvalonBay Spends $63M on N.J. Multi-Family Complex
After a $63 million purchase, AvalonBay Communities Inc. is the proud owner of Windsor at Crystal Ridge, a 334-unit, Class A multi-family complex in central New Jersey.
CPS Energy Buys 800 MW Power Plant in Seguin
By Camelia Bulea, Associate Editor
San Antonio-owned CPS Energy agreed to buy the Rio Nogales natural gas plant in Seguin, an 800-megawatt combined-cycle plant that has been in operation for the past 10 years. A CPS news release reports that purchasing the plant will save the company a minimum of $1 billion in costs that would […]
Pru Delays $444M Newark Tower
The near-term fate of Prudential Financial’s proposed $444 million, 650,000-square-foot office-tower development in downtown Newark rests with the New Jersey Economic Development Authority and the Appellate Division of New Jersey’s Superior Court.
Tempo Properties Sells 1,188-Unit Atlanta Multi-Family Portfolio
The most recent deal out of Atlanta is the $35.8 million sale of a 12-property, 1,188-unit multi-family portfolio from Tempo Properties to a private investor located in Washington state.
Shakopee City Council Approves Economic Development Incentives
By Gabriel Circiog, Associate Editor Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports. SanMar Corp., an imprintable-clothing supplier, will invest $35 million to build […]
Economy Watch: Homebuilders, Fannie Mae Feel Better About '12
While the homebuilders’ index is still low, it’s in much better shape than it was last year. Fannie Mae reported that things are looking up for the year, albeit modestly. And Apple is acting like a blue-chip firm with its stock-repurchase program.
Paul Daneshrad: Multi-Family’s Future
Starpoint CEO Paul Daneshrad blogs on CPE’s From the Inside experts blog about the outlook for the multi-family property sector and his company’s investment plans.
Granite Buys Class A Office Property in Uptown Dallas
By Camelia Bulea, Associate Editor
Granite Properties recently made an important acquisition in Uptown Dallas, with the purchase of Cedar Maple Plaza, an office property comprising three Class A buildings.
The 120,000-square-foot property, built in 1985, is located across from the city’s Crescent Hotel. The firm plans to continue common-area improvements started by the property’s former owner, […]
New Orleans Opens Libraries Worth $34M
By Eliza Theiss, Associate Editor Five state-of-the-art public libraries worth a combined $34 million are scheduled to open in The Crescent City. This will raise the number of restored Katrina-marred libraries to a total of 10. The facilities are a mix of restored buildings and brand-new facilities featuring green elements, Wi-fi hotspots, cafés, computer labs […]
Inland Real Estate Buys Westgate Shopping Center
By Adrian Maties, Associate Editor
Inland Real Estate Corp. recently acquired the Westgate Shopping Center, a grocery-anchored power center in Fairview Park, paying $73.4 million for the property.
Westgate is located at the intersection of West 210 Street and Center Ridge Road on […]