Regions

Marlton, N.J.-based construction manager Hill International has created Hill International Real Estate Partners L.P., a real estate development services firm that will serve the commercial and hospitality industries across the Mid-Atlantic and Northeast. The newly formed entity has already made a grand move–the firm just acquired developer Walnut Street Capital’s interests in the 2.2 million-square-foot American Commerce Center project in Philadelphia. The establishment of HIREP fits with Hill’s strategic plan of expanding its offerings to include development services, as well as project management services for major endeavors. With the purchase of The American Commerce Center project, HIREP is starting out…

Dallas-based Baylor Health Care System broke ground Tuesday on a $212 million 332,000-square-foot hospital in the Dallas suburb of McKinney. News reports indicate that Baylor also plans to announce Friday its intent to build a $350 million cancer center in Dallas. Located on 58 acres at the northwest corner of Highway 380 and Lake Forest Drive, Baylor Medical Center at McKinney will be a 95-bed, four-story hospital and medical office complex with a scheduled completion of November 2010. According to the Dallas Morning News and several other local news outlets, Baylor plans to announce on Friday a 450,000-square-foot cancer center…

Just two weeks after Hurricane Ike blew through Houston, Dallas-based Behringer Harvard has acquired One BriarLake Plaza, a 20-story tower with more than 500,000 square feet of office space there, for an undisclosed amount. Prior to closing, an initial assessment of the effect of Hurricane Ike on One BriarLake Plaza (pictured) indicated only minor damage to windows and landscaping. Tenants resumed normal business operations at the property on Sept. 16. Built in 2000 on more than nine acres along the Sam Houston Parkway in west Houston, the site provides access to Interstate 10 to the north and the Westpark Tollway…

Judgment Day is one step closer for the residents of Brooklyn’s Starrett City and its suitors. Sept. 25 marks the deadline to submit bids to acquire the 34-year-old, almost 6,000-unit multi-family property–the nation’s largest federally subsidized housing complex. Sources anticipate that the winning bidder will be announced a few weeks after the bidding deadline. Thursday will represent the latest chapter in Starrett City’s acquisition saga. The Department of Housing and Urban Development shot down a $1.3 billion offer last year from David Bistricer’s Clipper Equity L.L.C. amid uncertainty surrounding whether the development would remain affordable. In recent months, the bid…

AMB Property Corp. has announced it has leased more than 157,000 square feet  of a development immediately adjacent to Madrid’s Barajas International Airport. The airport is one of Europe’s top ten cargo airports. The development has been leased to three customers. One of them is Leche Pascual, a manufacturer of dairy products, food and beverages. It has leased 104,000 square feet of space.”Madrid’s Barajas International Airport has undergone significant expansion recently, including the construction of two runways, a new domestic terminal and an international terminal,” Mo Barzegar, AMB’s managing director, Europe, noted in a statement. AMB Barajas Logistics Park is…

Real estate firm Hines and equity partner MetLife Real Estate Investments have settled on terms with the Transbay Joint Powers Authority for an Exclusive Negotiations Agreement for Transbay Tower, a 1.6 million-square-foot office high-rise Hines plans to develop in San Francisco. The deal, the specific terms of which will be heard in public at a TJPA board meeting on Sept. 29, involves a price formula that calls for Hines to shell out $235 million for the 49,000-square-foot parcel of land that will become home to the Transbay Tower (pictured). Negotiations of the terms of the agreement come one year after…

Morgans Hotel Group has entered into an agreement with Boyd Gaming Corp., relating to the firms’ joint venture on the development of a Mondrian hotel and Delano hotel within Boyd’s existing Ecehlon development in Las Vegas. Under the terms of the revised deal, Morgans’ $30 million deposit will be returned with interest. Additionally, Morgans will no longer be responsible for $41 million in future funding and will not have to provide a construction loan guaranty on the project. Also, the agreement awards Morgans Hotel Group sole control over the Mondrian and Delano brands in connection with the project. The agreement…

New York City-headquartered GoldenTree InSite Partners has signed on to invest as much as $222 million of equity in a joint venture with São Paulo, Brazil-based LDI – Inteligencia Urbana Completa, for the development of real estate projects in the São Paulo, Brazil region. GoldenTree InSite’s investment will finance ground-up developments that will ultimately be valued at more than $1.1 billion. The transaction marks GoldenTree InSite’s largest single investment over the last two years in the country, where it has committed in excess of $300 million in partnership agreements during that period. “We will probably focus primarily on for-sale residential…

Just under two years after its groundbreaking, the office building at 555 Mission St. in the burgeoning Mission Street Corridor of San Francisco’s South Financial District has reached completion. Acting on behalf of Tishman Speyer, owner of the 670,000-square-foot tower, general contractor Turner Construction hammered in the last nail right on schedule, marking the debut of the first Class A office building to be developed in San Francisco in the last four years. Stretching 33 stories high, 555 Mission (pictured) also features 3,400 square feet of ground-level retail space, an 11,000-square-foot plaza and a two-story below grade parking facility. Some…

Kansas Entertainment L.L.C., a joint venture involving Kansas Speedway and The Cordish Co., has won a coveted casino management contract by the Kansas Lottery Gaming Facility Review Board for the development of a casino resort in Wyandotte County, Kans. The joint venture, which competed with a handful of teams for the right to develop a gaming property in the county, plans to erect an upscale 1.5 million-square-foot Hard Rock Hotel & Casino property that will cost an estimated $705 million to build. With a designated site off 1-70 and I-435 about 15 minutes from downtown Kansas City, the gaming and…