National
Invesco Buys 388 KSF San Francisco Office Tower from Hines
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines, the latter’s San Francisco office announced Friday. The closing took place on Jan. 7, a Hines spokesperson told Commercial Property Executive. Financial terms of the sale were not disclosed.
94-Unit Apartment Asset Sold to California Hedge Fund; 440 on Third Starts Construction
Black Warrior LLC has sold Newport Villa Apartments, a 94-unit apartment complex located on La Annie Drive, north of Florida Boulevard, cashing in $1.2 million or $12,765 per unit for the asset
Astor Crowne Plaza Hotel Sold for $116M, While Royal St. Charles Goes for $10M
Two French Quarter hotels have been traded since 2014 kicked off, showing how sizzling hot the New Orleans hospitality market is.
Washington State Convention Center Acquires Nearby Parcels for $56.5M While Pondering Expansion Options
As the Pacific Northwest continues to grow, the hospitality markets in Seattle and Portland are growing as well. Now both of the major cities in the area have seen the necessity of a larger convention center in order to cash in on the growing market for large events. Other cities on the West Coast have already begun their moves to expand existing convention facilities and have moved to the format of the hotel-convention center. With an expansion plan in its sights, the Washington State Convention Center Public Facilities District recently completed the purchase of a land site in Seattle’s central business district. The value of the recently perfected deal stood at around $56.5 million, according to The Seattle Times.
Roger B. Kennedy, Inc. Starts the Year with Groundbreaking on $50M Worth of Hospitality Projects
A suburban-Orlando company, based in Altamonte Springs, is starting the New Year by breaking ground on $50 million of Orlando-area vacation club and timeshare resort projects according to Roger B. Kennedy, Jr. president of Roger B. Kennedy Inc.
Kana Hotel Group to Manage Hilton Garden Inn Hotel in Lithia Springs
Kana Hotel Group has recently been awarded the management contract for Hilton Garden Inn Atlanta West / Lithia Springs.
Miami Beach’s Southgate Towers Undergo a $40M Renovation
The bayfront apartment buildings at 900 and 910 West Avenue will soon get a fresh look inside and out as ADD Inc. undertook a $40 million recovery of the community. Henrico, Va.-based Gumenick Properties owns and manages the complex. The improvements include 495 newly designed residential units, public areas, the addition of pool cabanas, retail spaces, a restaurant and a whole new facade.
Luxury Apartments Sell for $59M in Charlotte
Invesco Real Estate, the real estate branch of global diversified independent investment management firm Invesco, has acquired the 10-acre Junction 1504 apartment community for $59 million
San Jose’s Santana Row Completes Agreement With Car Charging Group for New EV Charging Stations
The San Francisco Bay ended 2013 on an extremely high note for the local office market, offering great prospects for the area’s real estate market in 2014. To open the year, big green energy news emerged as Car Charging Group, Inc. announced a newly sealed agreement with Federal Realty Investment Trust to expand the availability of EV charging services at Santana Row.
The Palms at Premier Park Sold for $19M, REIT Pays $15.3M for SC Retail Portfolio, While Auction Sells Shopping Centers for $83.3M
Companion Associates, a Charleston-based real estate development and construction company, has recently purchased The Palms at Premier Park, a 240-unit Columbia apartment complex