South
Keystone Wins $80M Judgment Against Host Hotels
After four years of litigation and a five-week trial, a jury has awarded Keystone-Texas Property Holding Corp. a more than $80 million judgment against Host Hotels and Resorts L.P., formerly known as Host Marriott, L.P., as well as its subsidiary HMC Hotel Properties II L.P.
Related Tapped to Develop Palm Beach Convention Hotel
Development firm Related Companies, L.P. has been approved by the Palm Beach County Board of County Commissioners to develop the 400-room Palm Beach County Convention Center Hilton hotel in West Palm Beach, Fla.
Foreign Investor Saves Atlanta’s 800,000-SF Greenbriar Mall from Foreclosure
It happened in the nick of time. With foreclosure proceedings already in the works on Atlanta’s Greenbriar Mall, Atlanta-based owner Hendon Properties L.L.C. has just managed to escape an impending confiscation with the sale of the 809,700-square-foot property to an unidentified foreign investor.
WP Carey Scores 386,000-SF JPMorgan Chase Office Building in Sale-Leaseback “Flip”
W. P. Carey & Co. L.L.C. has gotten its hands on a piece of the 2.9 million-square-foot office portfolio that Brookfield Real Estate Opportunity Group recently acquired from JPMorgan Chase.
Suffolk to Commence Building $75M Garage Facilities at New Marlins Stadium
Thanks to the City of Miami’s recent approval of the sale of $92 million in bonds, construction of parking facilities for the new $500 million Florida Marlins Stadium moves forward with Boston-based Suffolk Construction tapped by the city to oversee the $75 million project.
Healthcare Trust of America Acquires 54,800 SF Medical Office Portfolio for $10.5M
Healthcare Trust of America, Inc., on Thursday announced its acquisition of a Pearland, Tex. medical office portfolio for $10.5 million. The purchase expands the real estate investment trust’s Texas portfolio to more than one million square feet.
Sluggish Miami Office Market Buoyed by 80,000SF Financial District Pre-Lease
While Miami’s office market vacancy rate lingers beneath the U.S. average, it has not gone unscathed by the worldwide economic crisis. However, law firm Bilzin Sumberg Baena Price & Axelrod L.L.P’s pre-lease of 80,000 square feet at the 576,000-square-foot 1450 Brickell office tower downtown has players in the Miami office market game buzzing. The transaction marks South Florida’s largest new office lease this year.
Eyeing Market Opportunities, M-F Developer Expands into Acquisitions
After multiple quarters of dismal investment activity, new funds and investment entities are cropping up to capitalize on the discounted commercial real estate assets that are hitting the market. Atlanta-based Wood Partners L.L.C. has just entered the game, too. The multi-family developer has expanded its business platform to include acquisitions.
As San Antonio Office Market Rebounds, Transwestern Takes Over at 2MSF Mixed-Use
With San Antonio’s office market rebounding in the third quarter, Transwestern’s local office hopes to take advantage of that good karma with the contract to handle the real estate services assignment for the Brooks City-Base development there.
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