National
Sterling Bay Plans Upscale Buildout for Victory Ranch Club
By Alex Girda, Associate Editor Sterling Bay Cos. recently snapped up one of the state’s prime development sites: the 6,500-acre Victory Ranch Club in Park City. The sale price for the property, which was acquired from an affilate of Wells Fargo Bank, was not disclosed. The parcel was originally slated for a 650-unit luxury residential […]
Excel Realty Buys Lake Pleasant Pavilion Shopping Center in Peoria for $42M
By Alex Girda, Associate Editor Bringing its recent investments in the Phoenix area past the $200 million mark, Excel Trust Inc. paid $41.8 million for Lake Pleasant Pavilion Shopping Center in Peoria. National brands represented at the 373,000-square-foot property include Marshalls, Bed Bath and Beyond, Tilly’s, Kirland’s. SuperTarget, a 185,000-square-foot store owned by Target Inc., […]
Environmental Impact of One Paseo Mixed-Use Development is Debated
By Gabriel Circiog, Associate Editor The Carmel Valley Middle School was the center of a heated debate regarding the One Paseo mixed-use development proposed by Kilroy Realty Corporation. Residents gathered to hear the comments of the Carmel Valley Planning Board on the draft environmental impact report, according to The San Diego Union-Tribune. While most locals agree […]
PREI Buys Ten Peachtree Place, Plans to Achieve LEED Silver for the Property
By Georgiana Mihaila, Associate Editor Prudential Real Estate Investors has recently acquired midtown Atlanta’s Ten Peachtree Place, a fully leased, 20-story, Class A office tower. Acting on behalf of a German institutional advisor, Prudential Real Estate Investors—the real estate investment management and advisory business of Prudential Financial, Inc.—has bought the building from a venture managed […]
Ryan Seacrest Pays $37M for Ellen DeGeneres’ Compound
By Alex Girda, Associate Editor When it comes to sheer volume and value, the Los Angeles celebrity home market is a standout. Estates regularly command higher prices than mid-size commercial properties. Recent case in point: Daytime TV host Ellen DeGeneres and her spouse, Portia de Rossi, recently sold their Beverly Hills compound to fellow headliner Ryan […]
Stadium Place Tower Wins Key Approval From City Panel
By Alex Girda, Associate Editor The $180 million Stadium Place development got a a major boost when the Pioneer Square Preservation Board unanimously approved the controversial design for the project’s second apartment tower. Designed by ZGF architects, the 333-unit South Tower will reach an elevation of 240 feet, only 30 feet lower than CenturyLink Field, which is less than 500 feet away […]
Millennium UN Plaza Hotel Undergoes Complex Makeover
By Veronica Grecu, Associate Editor New York City’s iconic Millennium UN Plaza Hotel located next to United Nations headquarters in midtown Manhattan will undergo a complex interior renovation project by Grace Leo, CEO and Founder of G.L.A. Hotels—a management and consultancy firm using design as a tool for repositioning hotels. Designed by visionary architect Kevin […]
Fairmont Sells to Oaktree and Woodbridge JV for $200M
By Alex Girda, Associate Editor The Fairmont Hotel, a Beaux Arts landmark that has hosted presidents, foreign heads of state and celebrites since its 1907 debut, has come under the ownership of Oaktree Capital Management L.P. and Michael Rosenfeld’s Woodbridge Capital Partners L.L.C. The joint venture acquired the 591-key property from Maritz, Wolff & Co. […]
Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills
By Eliza Theiss, Associate Editor Developers are preparing to break ground on Fieldstone Apartments’ third phase, reports The Memphis Daily News. Working under the name Fieldstone Apartments III Co., developers filed a $7.5 million building permit application with the city/county Office of Construction Code Enforcement. Fieldstone’s third phase will consist of 102 garden-style apartments and […]
174-Key Holiday Inn Purchased by GF Management Affiliate
By Eliza Theiss, Associate Editor GF Management, a leading national hotel ownership and management company, has announced in a press release the purchase of the 174-key Holiday Inn—Charlotte University by GF affiliate UPHIC Associates LLC for an undisclosed amount. The hotel is located at 8520 University Executive Park Dr., a quick trip north of Charlotte’s […]