National
Hyatt Place Chicago-South/University Medical Center Officialy Opens in Hyde Park
Hyatt Hotels Corporation and SMART Hotels/Olympia Chicago LLC, a joint venture of The Olympia Companies and SMART Hotels LLC, recently announced the opening of Hyatt Place Chicago-South/University Medical Center. After the opening of Hyatt Place Chicago/River North in June, the new hotel marks the brand’s second location in Chicago and becomes the first newly built hotel to open in Hyde Park in 50 years.
JMI Realty Acquires Hyatt Regency Denver Tech Center; FEMA Leases Office Space in Englewood
Chicago-based Hyatt Hotels Corporation recently announced that one of its affiliates has sold the Hyatt Regency Denver Tech Center to an affiliate of JMI Realty for around $60 million or $133,000 per key. As part of the deal, Hyatt has also entered into a franchise agreement with JMI Realty. Davidson Hotels & Resorts will manage the hotel for JMI Realty under the Hyatt Regency flag.
Robertson Properties Group’s $767M Aiea Project Could Break Ground Next Year
Robertson Properties Group expects to break ground on its $767 million, 1,500-home mixed-use development in Aiea in 2014, the Pacific Business News reports.
Howard Hughes Corp. Launches First Office Building at New M-U Development in The Woodlands
By Amalia Otet, Associate Editor The Howard Hughes Corp. and its wholly owned subsidiary, The Woodlands Development Co., marked a major milestone with the completion of One Hughes Landing, the first office building in the 66-acre, mixed-use Hughes Landing development, situated on the 200-acre Lake Woodlands. Designed to meet LEED Silver certification standards, the 197,719-square-foot, eight-story, Class […]
United Properties to Acquire Days Hotel Near University of Minnesota Campus
Minneapolis-based United Properties is set to acquire the Days Hotel after the privately-owned commercial real estate development and investment firm recently announced it has signed a purchase agreement with private REIT CRI Income. United Properties announced that a due diligence process, which is expected to take up to 90 days, is underway and although a closing date has not yet been set, it is anticipated to occur in late December or early January. The property had been listed for sale in June by Jon Ruzicka of Marcus & Millichap.
Parallel Capital Partners Acquires Class AA Business Complex in Irving
San Diego-based Parallel Capital Partners, Inc. completed the acquisition of Urban Towers, a Class AA business center in Irving, in a deal that marks the company’s re-entrance into the Dallas market.
New Senior-Living Community to be Developed in San Antonio
The Public Finance Authority has approved a $120 million bond to finance qualified costs associated with the acquisition, construction, installation, and equipping of two new senior living communities, one in Cibolo Canyon in San Antonio and the other in Chattanooga, TN. The owner is Samarian Housing and the developer is WholeLife Companies; the new properties will be built under its WholeLife Traditions concept.
South Market Celebrates Groundbreaking, Starts Infrastructure Work
Things are racing along at The South Market District (SoMa), the Crescent City’s transformative mixed-use transit-oriented downtown project with developer The Domain Companies recently hosting a groundbreaking event to celebrate the launch of The South Market District’s first phase, the $48.4 million Paramount building.
Developers Break Ground on Ambitious Spring District After Six Years in the Pipeline
One of the most high-profile development projects in the Puget Sound area is definitely Wright Runstad & Company’s ambitious Spring District. The intensely scrutinized transit-oriented urban neighborhood, as it has been called by its developers, recently held a groundbreaking ceremony at the Bellevue site. Mayor Conrad Lee as well as Wright Runstad President, Greg Johnson both held speeches regarding the importance of the project for the area after which guests were invited to roll up their sleeves and contribute to the demise of the first warehouse that is set to go down and make way for the Spring District.
Westfield Sells Two NE Ohio Malls to Starwood Capital Group
Two shopping malls in Northeast Ohio will have a new owner by the end of the year. The two properties are part of a portfolio of U.S. shopping centers The Westfield Group, a multinational company headquartered in Sydney, Australia, has agreed last week to sell to an affiliate of Starwood Capital Group, an American private investment firm headquartered in Greenwich, Connecticut.