National
Groundbreaking Nears for Taubman’s $315M Sarasota Mall
Taubman Centers Inc. announced that construction will start later this year on its state-of-the-art, 880,000-square-foot Mall at University Town Center. Partnering with Benderson Development on the $315 million project, Taubman will own 50 percent of the shopping center, while also being responsible for development, management and leasing.
R&V Management Corp. Acquires 143 Condo Units in La Mesa
By Gabriel Circiog, Associate Editor San Diego-based R&V Management Corp. has acquired 143 condominium units at Adagio in La Mesa. The $25.5 million deal was brokered by Phoenix-based Hendricks & Partners. The Adagio community was designed and developed as a 200-unit condo project back in 1984 and later was operated as an apartment community until […]
Lee & Associates Expands Florida Presence, Opens Orlando Office
According to an official statement, Lee & Associates—one of the largest full-service commercial real estate firms in the country—will soon be taking another important step in establishing the firm’s presence in Florida and the Southeast.
Hyatt Completes Largest Hyatt Place Hotel in U.S.
by Adriana Pop, Associate Editor Hyatt Hotels Corp. and management company Kokua Hospitality, LLC announced the opening of the second tower at Hyatt Place Waikiki Beach. The Diamond Head Tower joins the Pali Tower, the first tower, which opened in December 2011 as the first Hyatt Place hotel in the Hawaii market. Hyatt Place Waikiki Beach […]
Rising Returns with Value-Add Purchase of PacMutual Complex
By Alex Girda, Associate Editor A partnership led by veteran executive Nelson Rising has made its debut with the acquisition of the landmark PacMutual building in Downtown Los Angeles. Rising Realty Partners bought the 424,598-square-foot, three-building asset in association with Mount Kellett Capital Management L.P., its financial partner. According to the Los Angeles Times, local real […]
KTGY-Designed Arista Uptown Apartments Soon to Be Available
By Gabriel Circiog, Associate Editor KTGY Group Inc., Architecture + Planning has announced the completion of the first of eight 3-story buildings planned at the Arista Uptown Apartments in Broomfield. Developed by Denver-based Smith/Jones Partners LLC and designed by KTGY, the transit-oriented apartment community will feature a total of 272 units—18 studios, 149 one-bedroom and […]
Christus to Transform Downtown Campus into Children’s Hospital
By Camelia Bulea, Associate Editor After receiving approval from Christus Health, Christus Santa Rosa Health System will invest $135 million to transform its downtown campus into a freestanding hospital. The current facility, an acute-care center serving adults and children, is to be transformed into a hospital dedicated entirely to children’s healthcare services and pediatric research, […]
Hornets Bring Investment; Iberville Redevelopment Progresses
By Eliza Theiss, Associate Editor The sports industry may soon contribute more to the Crescent City’s economy. New Orleans Saints owner Tom Benson’s purchase of the New Orleans Hornets seems close to being a done deal. WWL-TV reports that the framework of ownership negotiations has the Hornets tied to the Big Easy through 2024. However, the […]
HFF Secures $30M Financing for One Progress Plaza
Holliday Fenoglio Fowler L.P. has secured $30.8 million in financing for the tallest building in Pinellas County—One Progress Plaza—according to company officials. Working exclusively on behalf of owner Kucera Properties, HFF placed the 10-year, fixed-rate loan with American National Insurance Co., which is headquartered in Galveston, Texas.
Stalled 1.4MSF Orem Mixed-Use Project Inches Toward a Restart
By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor For years, the once-promising Midtown Village project has been a sore point for Orem. Midtown Joint Venture L.L.C., the original developer, planned a 1.4 million-square-foot residential, retail and office project featuring three mixed-use towers. But the developers completed only a seven-story condominium and office tower and a small, […]