National
Caesars, Rock Gaming Granted License to Build and Operate $300M Baltimore Casino
By Adrian Maties, Associate Editor Caesars Entertainment Corporation has announced that CBAC Gaming, LLC, the investment group led by Caesars and Rock Gaming, has received a license from the State of Maryland Video Lottery Facility Location Commission to operate a video lottery terminal (VLT) facility in downtown Baltimore. CBAC Gaming plans to build Harrah’s Baltimore, […]
Shaner Group Restarts Foreclosed O’Hara Condo Development
By Adriana Pop, Associate Editor State College-based Shaner Capital LP has restarted a 53-unit condominium project in the Allegheny riverfront development of Chapel Harbor in O’Hara Township. The former Marbella project was stalled after its original developer, the Zambrano Corp., filed for bankruptcy in 2009. The Pittsburgh Post-Gazette reports that the Shaner Group acquired the […]
255-Key Hyatt Place Breaks Ground
By Eliza Theiss, Associate Editor Thanks to Music City Center, Nashville’s ambitious 19-acre downtown convention center scheduled to open next year, investors have flocked to Nashville’s downtown area to develop hotel property after hotel property. Case in point: Hyatt Place Nashville/Downtown, the 255-key hotel that recently broke ground in downtown Nashville. Hyatt Place is the […]
Maui County Committee Green-Lights West Maui Master-Planned Development
By Adriana Pop, Associate Editor Maui County’s General Plan Committee voted 7-1 in favor of including the proposed 600-acre master-planned Olowalu Town project within the island’s urban and rural growth boundaries. Plans for the $466 million development call for 1,500 housing units – half of which would be affordable – a school, a post office, […]
Hines Hires JLL to Market Iconic Williams Tower
Hines has put its 64-story Williams Tower on the market, hiring Jones Lang LaSalle Inc.’s Houston office to find a buyer for the iconic tower.
Ebenezer Management Services to Expand its Arbors at Ridges Campus
By Gabriel Circiog, Associate Editor Ebenezer Management Services will soon expand its Arbors at Ridges campus in Burnsville, Finance & Commerce reported. The Minneapolis-based seniors housing provider will break ground on a $12 million project that will convert an existing building to memory care space. Located at 13897 Community Drive near Fairview Ridges Hospital, the […]
D.C.’s Westory Building Changes Hands
By Adrian Maties, Associate Editor An open-ended fund managed by Deka Immobilien Investment GMBH of Germany recently sold the Westory Building to New York Life Insurance Co. for $159.4 million, or $590 per square foot. Carr Properties negotiated the transaction. Savills L.L.C. advised the open-ended property fund managed by Deka in the sale. The Westory was […]
Greystone Closes $33M Affordable Housing Transaction
By Eliza Theiss, Associate Editor Greystone Affordable Housing Initiatives LLC (GAHI), a leading provider of affordable housing recapitalization and rehabilitation transaction management services, announced the closing of a $33 million multifamily transaction for a North Carolina portfolio of family- and elderly-designated properties. The USDA Rural Development portfolio encompasses 12 properties totaling 368 units located in […]
Refurbished Double Tree by Hilton Hotels Opens in New York City
Double Tree by Hilton recently inaugurated its newly revamped full-service hotel in New York City—an upscale property located on the corner of Lexington Avenue and 51st Street in the fashionable East Side. The iconic building, which was designed by architect Morris Lapidus as the Summit Hotel in 1960—in an unusual “Z” shape to increase natural daylight in each room, now features 12,000 square feet of renovated meeting space and 746 guest rooms.
Stalled $615 Million Project Seeking Approval to Revitalize Downtown Crossing
Shortly after Mayor Thomas Menino announced that Chicago-based real estate investment and development firm Oxford Capital Group LLC plans to develop a 240-key hotel at 59 Temple Place in Downtown Crossing, the Boston Redevelopment Authority (BRA) reveals another investor’s intention to revitalize the area.