News
Hines, New York Retirement Fund Create $1B Office JV
Hines and the New York State Common Retirement Fund have formed a joint venture, Hines Corporate Properties II, that has been capitalized with $500 million of equity and will allow for the investment of more than $1 billion.
Wood Partners Closes $66.5M MF Construction Deal in South Florida
Wood Partners announced earlier this week it closed on $66.5 million in construction financing to build the Alta Congress, a four-story, 369-unit apartment community near downtown Delray Beach, Fla.
Dylan, Pradera Apartment Communities Change Owners
By Georgiana Mihaila, Associate Editor
The Dylan apartment community in Oak Lawn saw a change in ownership with the purchase by a joint venture of California-based Canyon Capital Realty Advisors and an affiliate of Magic Johnson Enterprises. The 125-unit property, located […]
Fairbourne Station Redevelopment Sees Groundbreaking on First Full-Service Hotel
By Gabriel Circiog, Associate Editor
The groundbreaking ceremony for the first full-service hotel in West Valley City took place on Thursday. Located at the corner of 3500 South and Market streets, the new Embassy Suites hotel is part of the Fairbourne […]
Alteza Seeks to Sell 147 New Condos with Hotel Facilities
By Camelia Bulea, Associate Editor
The month of May saw the welcoming of the first resident into the finally finished Alteza condominiums. Since then, 20 others have followed, marking positive direction for a complex that was slated to open in 2008 […]
Gentilly Woods Shopping Center, Plaza Tower Await Rehabilitation
Six years after being swamped by Hurricane Katrina, the Gentilly Woods Shopping Center has found a new owner. Walmart finally won the bid to remodel the long-vacant center after initially facing some opposition from Gentilly residents, who would have preferred […]
Affordable Housing Escalates in New York Neighborhoods
By Veronica Grecu, Associate Editor
New York’s affordable housing initiative has come a long way—with $1.3 billion invested in the plan and 15,827 units of affordable units financed for middle-class and low-income residents in Fiscal Year 2011, which ended on June […]
103-year-old Chicago Building to Be Renovated; O’Hare Extension Could Stop
By Veronica Grecu, Associate Editor
A vacant West Loop office building located at 564 W. Randolph St. was sold by an affiliate of W. P. Carey & Co. LLC to Chicago developer Sterling Bay Cos. for $4.7 million or $51 per […]
Vertical Development Starts on $200M New Miami Art Museum
By Georgiana Mihaila, Associate Editor
With its structural foundation now complete, the new Miami Art Museum at Museum Park will soon begin vertical development. The $200 million project, designed by Herzog & de Meuron, has reached an important milestone—passing on to […]
Stark Proposes Expansion of Crocker Park Mixed-Use Complex in Westlake
By Adrian Maties, Associate Editor
Stark Enterprises is currently in negotiations with the city of Westlake to approve an updated Crocker Park master plan for expanding the retail, residential and commercial center. The updated plan would expand the project to 3 […]