National
$5 Million Makeover Project for Riverfront Towers
Almost two years passed since the owners of a large residential community in Detroit were sued by the Federal National Mortgage Association (Fannie Mae) for an alleged $70 million loan debt. Back then, in October 2011, Ronald Glass of GlassRatner Management and Realty Advisors LLC was appointed as receiver to find a buyer for the Riverfront Towers, a multifamily complex located at 100 Riverfront Avenue in downtown Detroit.
Fairmont Sonoma Mission Inn & Spa Stake Acquired by Carey Watermark in $100 Million JV Deal
San Francisco has elevated its hospitality market over the past few years to a point where rates and occupancy have been rising and the city is a top market contender. Then the recent big money move by Carey Watermark Investors Incorporated to acquire a joint venture interest in the Fairmont Sonoma Mission Inn & Spa from owner Fairmont Hotels & Resorts. The former owner received a total of $97.1 million and will go on to manage the luxury resort under a long-term management agreement.
Glenview Park District Opens Glenview Prairie Club – Golf & Paddle Facility to the Public
The Glenview Park District recently inaugurated the Glenview Prairie Club – Golf & Paddle. The 2,600-square-foot clubhouse facility is now open to the public as an amenity to the state-of-the-art four on-grade paddle tennis courts and the Glenview Park District nine-hole golf course.
Value Place Announces Plans to Develop Nine New Extended-Stay Corporate Hotels in Denver
Value Place, an economy extended-stay lodging brand, has recently announced plans to continue its expansion across the U.S. with plans to develop nine new extended-stay corporate properties in the Denver area.
Brookwood Acquires Tech Ridge Business Park in San Antonio
The multi-tenant office property Tech Ridge Business Park has been acquired by Brookwood Financial Partners, LLC, a leading real estate company specialized in investment and asset management services. The new acquisition was built in 2002-2003 and is part of the Northwest submarket of San Antonio. It encompasses 118,769 square feet that form the two-building business park located between Loop 410 and Loop 1604, near Interstate 10.
Agree Realty Corp. Buys Cleveland-Area Sam’s Club for $21.4M
Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam’s Club located in Brooklyn, Ohio. Marcus & Millichap Real Estate Investment Services has arranged the all-cash sale.
Hyatt Regency Cincinnati Completes $23M Renovation; $8.4M Holiday Inn Planned by Casino
The Hyatt Regency Cincinnati announced last week the completion of renovations to its lobby and existing 486 guest rooms. At a cost of $23 million, the project also called for the addition of five new rooms, to bring the hotel’s total to 491 guest rooms.
Forest City Hawaii’s $734M Master-Planned Community Breaks Ground on Big Island
Construction on the roadways and infrastructure of a $734 million master-planned residential community in Kailua-Kona on the Big Island is under way.
Village Green Unveils New Renderings for 254-Unit Luxury Rental Community
Village Green Co. recently unveiled a new set of renderings to promote their Soo Line Building City Apartments.
83 Luxury Apartments on the Market in DC’s West End
Washington, D.C.’s apartment market is adding 83 elegant and contemporary apartments. They are available for rent at The Bond, a newly renovated complex located at 1230 New Hampshire Avenue, in D.C.’s sought-after West End neighborhood.