National
City of Cleveland Selects Lakefront Developers
Cleveland’s lakefront has seen little major construction since the late 1990s. However, this is about to change. Last week, Mayor Frank G. Jackson’s Lakefront Development Advisory Committee has selected a developer for the 28 acres at the water’s edge. The project is expected to breathe new life into the area and provide an economic boost for the city.
Eagle Realty Group Hires Cassidy Turley to Lease Queen City Square in Cincinnati
Located in the heart of Cincinnati’s Central Business District, Queen City Square is the city’s premier business center, its newest and most prominent downtown development. It was constructed by Eagle Realty Group, a member of Western & Southern Financial Group, and now its owners have hired Cassidy Turley to find tenants for the remaining space in the $400 million complex.
Global Ministries Acquires Low-Income Senior Housing for $12M
Global Ministries Fellowship (GMF), a faith-based relief and development group, has purchased the 396-unit Serenity Towers in Memphis, which serves low-income elderly and disabled residents, mostly family households.
Luxury Condo High-Rise Breaks Ground in Houston’s Uptown
Inter-Pier LLC, a joint venture between The Interfin Companies and Pierpoint Capital together with The McNair Group and Hudson Brothers Real Estate Limited Partnership, officially broke ground on Belfiore, a 26-story high-rise condominium that will redefine Uptown’s vibe and skyline.
Summit Hotel Enters into Agreement with Mortenson Development to Acquire Hampton Inn & Suites
Summit Hotel Properties Inc. recently announced that it has under contract to acquire two hotel properties featuring a total of 421 guestrooms. The two properties are the DoubleTree by Hilton located in San Francisco and the Hampton Inn & Suites in Minneapolis.
LPC, Daiwa House Team Up to Build Fort Worth Apartments
Dallas-based Lincoln Property Company (LPC) has entered into a strategic partnership with Daiwa House Industry Co., Ltd. of Osaka, Japan to develop and manage U.S. apartments.
China-Based Developer to Build Three-story Office, Data Center in Rockville
A China-based developer plans to start work this May on a new, three-story office and data center in Rockville. The Greencourt Group is the pioneer developer in the suburbs of Shanghai and has developed more than 20 million square feet of commercial and residential property in China over the last 18 years. It will construct the new property, called the Greencourt Building, at 12358 Parklawn Drive. The cost of the project was not disclosed.
CBRE Team Arranges Sale of Large Inland Empire Retail Center for $42 Million
The Inland Empire recently saw a large retail transaction completed when a Moreno Valley Property was acquired for a fee of approximately $42 million. TownGate Center was sold on behalf of the owning entity, a partnership between Walton Street and Fritz Duda Company, by a team headed by CBRE Senior Vice President Philip D. Voorhees. The SVP worked along with the National Retail Investment Group – West consisting of Megan Read, Jimmy Slusher, John Read and Brad Rable to represent the seller, as well as buyer Brixton Capital, a San Diego-based company in the all-cash deal.
Woody Harrelson Buys Baltimore’s Inn at the Black Olive
Woody Harrelson – Emmy Award winner and Oscar nominee. You may know him for his work in ”Cheers”, ”White Men Can’t Jump”, ”Natural Born Killers”, ”The People vs. Larry Flynt”, ”No Country for Old Men”, ”Now You See Me” or ”The Hunger Games”. You may also know him as an environmental and anti-war activist, as PETA’s Sexiest Vegetarian in 2012, or as a supporter concerning the legalization of marijuana in the United States. What you may not know about this famous Hollywood actor is that he is now the owner of a Baltimore hotel.
Boston Selected to Receive Support for New Protected Bike Lanes
One of the largest non-profits that supports and encourages bicycling in the country announced it has chosen Boston and five other major cities, to enter a two-year program to build protected bike lanes in city streets.