National
Canyon Realty Funds $55.2M Senior Loan for Final Phase of Retail Center The Rim
The prosperous North San Antonio market keeps on flourishing, especially the Northwest Corridor. After the consistent investment deal lead by Hines Global REIT in the massive retail center, The Rim, the final phase of construction is about to commence. Canyon Capital Realty Advisors announced its involvement in the financing for the fifth phase with a $55.2 million senior loan to an affiliate of Thomas Land and Development, LLC. RIM V adds 254,606 square feet of retail space to the existing construction, and 91% of it is already pre-leased to retail tenants.
Whitney Wyndham Sells for $10.5M
New Orleans real estate developer, investor and hotelier Joe Jaeger has picked up the Whitney Wyndham Hotel at 610 Poydras Street, paying $10.5 million for the asset
Victory Center Prepares to Receive Tenants in Health-Tech Corridor
Garson Victory LLC, a partnership led by real estate broker Scott Garson, purchased the old, vacant building at 7012 Euclid Avenue in late 2010 for $2.7 million. Soon after the acquisition, it started work on a redevelopment project to transform the property into the Victory Center, a mixed-use complex with offices, labs and research facilities. With all construction now finished, the new building is ready to welcome tenants.
Octal Leases 130,000 SF of Industrial Space in West Chester, Opens First Plant in North America
OCTAL, a world leader in polyethylene terephthalate (PET) resin and integrated PET sheet manufacturing, is expanding its operations with the opening of its first plant in North America. The Muscat, Oman-based company has recently signed a lease for 130,720 square feet of space in the Greater Cincinnati area.
California Developer Pacrep Plans Second Condo-Hotel Tower in Waikiki
Los Angeles-based Pacrep LLC is planning the construction of a second luxury condo-hotel tower in Waikiki. According to the Pacific Business News, the City and County of Honolulu will not require an environmental impact statement for the $159.5 million, 280-unit project at 2139 Kuhio Ave.
Liberty Property Trust Kicks Off 20-Acre Office Project in Northwest Houston
Liberty Property Trust has broken ground on the first building at Legacy at Fallbrook, a 20-acre premier office development just south of the Southeast corner of Fallbrook Drive at Beltway 8, in Northwest Houston.
Greenberg Gibbons and Vanguard to Finally Break Ground This Year on $140M Foundry Row Project in Owings Mills
In 2012, Greenberg Gibbons and Vanguard Commercial Property Development announced their plans to start work on the $140 million Foundry Row development in Owings Mills. They immediately encountered opposition from neighboring developers, also working on important projects in the area. And, after years of fighting, they finally won.
Hotel 373 and the Historic Waldorf Astoria in Midtown Manhattan May Hit the Market
The luxury Hotel 373 and the Waldorf Astoria in Midtown Manhattan could hit the market soon.
Construction Is Underway at Northeastern’s $225 Million Academic Complex
Nearly four months after receiving BRA’s unanimous approval for a $1.6 billion master plan for development, Northeastern University officially broke ground last week on its much-anticipated Interdisciplinary Science and Engineering Complex (ISEC) at 795 Columbus Avenue in Roxbury.
Doughboy Square Multifamily Complex in Pittsburgh Nears Completion
The Doughboy Square Apartments, one of Pittsburgh’s new multi-family projects, is scheduled for completion this summer. According to the Pittsburgh Business Times, the 45-unit residential complex is rising on a 19,000-square-foot parcel on Butler Street, in the city’s Lawrenceville neighborhood. Upon completion, the 89,000-square-foot building will also feature a restaurant on the first-floor.