Mid-Atlantic
ULI Special Report: Water, Water—Nowhere?
Whether in the dry Southwest or hurricane-prone coastal areas along the Atlantic Seaboard, developers need to incorporate water strategies into their plans. That message flowed through loud and clear during a panel titled “Water: Too Much, Too Little” at the Urban Land Institute’s Fall Meeting in New York City in late October.
AREP-Investcorp JV Purchases Metro DC Office Complex
A joint venture of American Real Estate Partners and Investcorp has acquired Canal Center, a four-building, 540,000-square-foot Class A office complex on the Potomac River in Alexandria, Va.
Thor Equities JV Buys Manhattan’s 530 Fifth Ave.
Thor Equities continues building up its presence on Manhattan’s famed Fifth Avenue, closing on the purchase of 530 Fifth Ave., a 26-story office and retail building, for $595 million.
Forest City Selling 55% Stake in Barclay’s Center
Forest City Enterprises appears ready to sell its majority stake in the Barclays Center arena, the crown jewel in its $4.9 billion Atlantic Yards project in downtown Brooklyn.
NGKF Tapped to Lead Retail Leasing at NYC’s Grand Central Terminal
Newmark Grubb Knight Frank has won one of the most coveted retail leasing assignments at one of the best-known sites in the country: Grand Central Terminal.
Chicago’s Bridge Development Partners Opens NJ Office
Chicago-based Bridge Development Partners is continuing to expand along the East Coast by opening an office in Parsippany, N.J., and adding two new principals to run it.
Boylston Gets $57M in Financing for 157-Key Boston Hotel
Residence Inn Boston/Back Bay Fenway has been attracting the attention of Boston visitors since its opening last year, and now the 175-key extended-stay property has caught the eye of the lending community.
Greater Newark Housing Partnership Develops 2 Dozen Affordable Apartments in Newark, NJ
Greater Newark Housing Partnership has teamed with Parkmont Housing and Redevelopment to build 24 new affordable apartments in Newark’s Fairmount Heights neighborhood, inside an abandoned South 10th Street building, which once served as a psychiatric hospital.
Deka Immobilien, Ashkenazy Acquisition JV Buys Manhattan Retail Condo
German real estate company Deka Immobilien GmbH and Ashkenazy Acquisition Corp. have teamed up for the first time to acquire a two-level luxury retail condominium at 522 Fifth Ave. from Morgan Stanley.
Construction Begins on $230M First Phase of M-U Project in Philly
East Market, a mixed-use project spanning a full city block in Philadelphia’s Center City, has moved from the drawing board to the ground as construction commences on the $230 million first phase of the four-acre development.