National
The Phoenix Apartments Rises From the Western Palisades Ashes
Once a foreclosed property, the Western Palisades residential community located at 1720 Atrisco Drive SW was rescued by Chuck Sheldon of T&C Management who purchased it in 2010 for approximately $1.5 million. The history of the property is a stormy one, one that made the new owner change its name into The Phoenix apartments.
Orlando One Step Closer to Kicking-off on New MLS Stadium
Only the spending plan is left to be approved by the Orange County Commission, as city leadership accepted plans for Orlando’s new professional soccer stadium with a unanimous vote, Orlando Sentinel reports. According to a press release, the October 22 vote takes place at 201 S Rosalind Avenue at the County Administration Building. If the spending plan goes through, The Lions stand a good chance of putting the fresh lawn to the test during their 2015 season. By that time, the minor league team hopes to make it to the MLS.
Gateway and South City Propose 22-story Student Housing Tower for Midtown
Gateway Development and South City Partners LLC join forces in building a student housing tower at Spring and 5th streets, beside the Centergy One building and Georgia Tech’s Technology Square.
Morgan Group, Invesco JV to Develop Multifamily Community in Dadeland Golden Triangle
Multifamily developer The Morgan Group and a client of Invesco Real Estate formed a joint venture to buy and develop a 3.1-acre site located at the heart of the Dadeland Golden Triangle near the nexus of U.S. 1, Kendall Drive, the Palmetto Expressway and Metrorail.
World Class Capital Plans to Reposition Crestview Crossing Post Acquisition
Once opportunity is identified, creating value comes next. Under this principle World Class Capital Group announced the acquisition of a retail center in North-Central Austin. The exact address is 8120 Research Blvd, at the corner of Highway 183 and Anderson Square.
The Connor Group Increases Charlotte MF Assets; REIT Buys Assisted Living Facility in $15M Portfolio
Centerville, Ohio-based The Connor Group has announced the acquisition of its third Charlotte apartment community, The Retreat at McAlpine Creek. The Ohio real estate investment firm purchased the 400-unit South Charlotte apartment asset from Professional Accomodator Inc. for an undisclosed ammount.
Stream Private Data Center Breaks Ground in San Antonio
“San Antonio’s central location, reliable infrastructure and stable cost of electricity make it a great choice for national enterprise users to locate and operate their mission-critical infrastructure,” said Rob Kennedy, co-managing partner, Stream Data Centers. With this in mind, the Stream Private Data Center (PDC) broke ground in the master-planned business park Westover Hills.
Northview Purchases Queen and Crescent Hotel in CBD, Plans to Renovate
Northview Hotel Group, headquartered in Westport, CT has announced the purchase of the Queen and Crescent Hotel, a 196-key asset in the New Orleans CBD, located just outside the French Quarter.
New M-F Deal Completed in Seattle as Company Continues Shopping Spree
As Seattle continues to grow and its development pipeline keeps being populated, investors are obviously keeping one eye on the city’s multifamily assets. One company that has recently moved on the market is JB Matteson Inc, with the company announcing the acquisition of Greenhouse Apartments, in a deal worth $32.1 million. The San Mateo, CA-based company is the new owner of the Columbia City residential asset. Property management services will be handled by E&S Ring Management Corporation, who currently manages other JB Matteson properties.
$250M Project to Deliver Marriott Autograph Collection Hotel, 205 Apartments to Downtown Cleveland
The GEIS Companies and Sandvick Architects, both based in Cleveland, have teamed up to bring new life to the intersection of East Ninth Street and Prospect Avenue, a long overlooked area in the city’s downtown. Dubbed The 9, the $250 million development calls for the renovation and transformation of the former AmeriTrust Tower and historic Cleveland Trust Rotunda into a high-end complex featuring a luxury hotel, apartments, and much more. The project will create 1,000 construction jobs.