National
Greystar to Develop 400-Unit, 34-Story Residential Tower in Tysons Corner
At the start of July, a 1.8-acre site in the Spring Hill Station mixed-use project, in Tysons Corner, changed hands for an undisclosed amount. The buyer was GDM Spring Hill Station LLC, a joint venture between The Georgelas Group Cos., T-Rex Capital Group LLC and Dierman Realty Group LLC. Shortly after the acquisition, the joint venture sold a portion of the parcel to Greystar, a South Carolina developer with big plans in the area.
B.R. Fries Completes Work on Pandora’s New 52 K Sq. Ft. Headquarters in Manhattan
Pandora Media, an internet radio and music streaming company based in Oakland, Calif., has a new home on the East Coast.
Boston’s Parks Get Greener with High-Tech Solar-Powered Benches
Since last year Boston was named the Number 1 Digital City in the country for its best practices in communication technology and public-sector information, it only made sense for the Hub to continue investing in innovation and energy efficiency and become more connected with its residents.
Old Pasadena Collection Snapped Up by Private Investor in $42 Million Transaction
Four buildings in downtown Pasadena were recently part of a $42.6 million mixed-use deal as Old Pasadena Collection traded hands between two private investors. A team of representatives from real estate company Institutional Property Advisors arranged the sale on behalf of both parties.
Northrop Grumman Breaks Ground on $20M Space Assembly and Test Facility in Linthicum
Northrop Grumman Corporation is adding another building to its 129-acre campus in Anne Arundel County. The company officially broke ground on Monday, July 14, on a new Space Assembly and Test (M-SAT) facility. Senator Ben Cardin, Representatives C. A. Dutch Ruppersberger and John Sarbanes, and many others joined Gloria Flach, corporate vice president and president of Northrop Grumman Electronic Systems, in Linthicum for the ground breaking ceremony.
TWG, Chase and Milhaus Plan Multiple Multifamily Projects in Downtown Indianapolis
Three market-rate apartment developments and a condominium project could soon rise south of Massachusetts Avenue, bringing nearly 280 new residential units to the Lockerbie and Chatham Arch neighborhoods in downtown Indianapolis.
Carroll Organization Purchases Memphis’ Largest Multifamily Community for $46.5 Million
Atlanta-based Carroll Organization has increased its Southeastern footprint with the acquisition of an off-market, multifamily portfolio composed of Colonial Village at Inverness in Birmingham, Al; Greenbrook in Memphis, TN; and Colonial Village at Charleston Place in Charlotte, NC. The three assets, totaling at approximately 1,800 apartment units, will be rebranded as ARIUM Inverness, ARIUM Shelby Farms, respectively, ARIUM McAlpine Creek.
Ramada Kissimmee Maingate West Rebrands
Ramada Kissimmee Maingate West joins the Magnuson Grand Hotel brand, a recent written announcement released by Magnuson Hotels reports. Following the rebranding procedure, the name of the facility will change to Magnuson Grand Hotel Maingate West.
Lawrenceville Value-Added Community Sold to Local Investor
The 98-unit Ashford Way multifamily property at 370 Hurricane Shoals Road changed hands for $5 million, approximately $51,000 per unit. KENCO Apartment Communities, a multifamily investor with a 50-year background in Atlanta purchased the property from The RADCO Companies. According to a recent announcement made by RADCO’s founder and CEO Norman J. Radow, Atlanta Retailers Association brokered the transaction.
Armani-Dezer-Perez Trio Brings Luxury Residential Project to Sunny Isles Beach
The Armani Group announced Armani/Casa Interior Design Studio’s new joint venture with Gil Dezer’s Dezer Development and Jorge M. Pérez’s Related Group to develop a new high-end South Florida residential tower.