News
Renovation Plans for the Chicago Main Post Office Building Call for the Tallest U.S. Tower
By Veronica Grecu, Associate Editor
Bill Davies, a British developer who owns the currently vacant Chicago Main Post Office Building, has announced his plans to renovate the building and the surrounding area to transform the site into an “urban mecca” that […]
Opening Nears for New Hampton Inn & Suites
By Georgiana Mihaila, Associate Editor
With the opening date set for September 2011, Hampton Inn & Suites Miami Brickell-Downtown has begun wrapping up the final details by appointing two new members to the hotel’s senior staff. Eduardo Chapoval, appointed general manager, […]
Memphis Housing Authority Opens Lyons Ridge Apartments; Legends at Wolfchase Sell for $27.8M
By Amalia Otet, Associate Editor
The City of Memphis and the Memphis Housing Authority (MHA), assisted by The Memphis Land Bank, joined forces a few years back in an effort to rejuvenate long-dormant communities throughout the city. Their latest success was […]
Strategic Hotels’ Refi Frenzy Continues with $130M Loan on Four Seasons D.C.
Strategic just closed a $130 million limited-recourse loan secured by the premier 222-room property in D.C.’s upscale Georgetown neighborhood.
Economy Watch: Progress on U.S. Debt Ceiling Still Unclear
The rumor mill was in high gear on Capitol Hill on Thursday as vague stories of Deal or No Deal on the debt ceiling were fast and thick. A solution of sorts to the Greek debt crisis seemed to emerge on Thursday, and the Leading Economic Index for the U.S. increased 0.3 percent in June to 115.3.
Host Hotels to Purchase the Grand Hyatt Washington, D.C., for $442M
Host Hotels & Resorts Inc. is on track to acquire the Grand Hyatt Washington, D.C., for $442 million in what will be one of the largest hotel transactions in the metropolitan area so far this year.
Lennar Plans in Charlotte; Crosland Exits Development Market
By Amalia Otet, Associate Editor
Forbes magazine has placed Charlotte among the potential boom cities that are most likely to experience economic growth over the next few years. Despite the recession, the Queen City has done rather well in terms of […]
Invesco Secures $72.8M Loan Through ING
The loan money is once again flowing. On Thursday, ING Real Estate Finance announced the closing of a $72.8 million term loan with Invesco Real Estate.
Wrigleyville West Completion Postponed
By Alex Girda, Associate Editor
Healthcare Trust of America Inc. has been very active with its purchases recently. Its newest target was the Phoenix area. Its acquisition of Desert Ridge Medical Campus near the Mayo Clinic has extended the amount of […]
New Philadelphia Retail Stores; Multifamily Developments to Break Ground throughout the State
By Veronica Grecu, Associate Editor
King of Prussia Mall, the nation’s largest retail center, will be expanded and redeveloped to make way for new stores. City officials, quoted by the Philadelphia Inquirer, announced last week that the John Wanamaker department store […]