National
New Loews Chicago Hotel Joins ALHI
Associated Luxury Hotels International recently expanded its portfolio with the addition of the new Loews Chicago Hotel which is scheduled to open in the beginning of 2015. AHLI will provide Global Sales Organization support, expertise and sales services for the new Chicago Hotel.
Cornerstone Real Estate Advisors, Hammer Ventures Make Big Buys
San Diego’s commercial market is continuing its path of ramped investment activity as Cornerstone Real Estate Advisors LLC and Hammer Ventures partnership recently moved to acquire major properties. Cornerstone is now the new owner of the North County Corporate Center, while the partnership involving Hammer Ventures has acquired the Torbati Building.
SpringHill Suites Denver Downtown Becomes First LEED Gold Certified Hotel in Denver
The SpringHill Suites Denver Downtown at MSU Denver recently announced it has received LEED Gold certification for New Construction from the U.S. Green Building Council.
City of Norfolk, Gold Key | PHR Launch $126M Hotel/Conference Center Project
The City of Norfolk and Gold Key | PHR Hotels & Resorts started work last month on a $126 million public/private initiative expected to transform the corner of Main and Granby Streets. Called The Main, the project is scheduled to open in downtown Norfolk in 2017. The new facility will have 380,000 square feet of space and will include a 23-story luxury hotel, called the Hilton Norfolk at The Main, a 50,000-square-foot conference center known as The Exchange at The Main, and three restaurants.
GMH Capital Partners Acquires High-End Apartment Community in Pittsburgh; Parkway Center in Green Tree Sells for $39M
GMH Capital Partners of Newtown Square near Philadelphia has acquired the Cork Factory Lofts in the Strip District, one of Pittsburgh’s premier apartment complexes.
Fifth Third Center Finds $90M Buyer, While Palmer Plaza Starts Looking For One
Palmer Plaza, the 284,000-square-foor office high-rise at the corner of 18th and West End Avenue is set to go on the market due to the impending maturing of an outstanding loan on the property, reports
D.C.’s First Cambria Hotels & Suites Opens in Historic Shaw Neighborhood
Choice Hotels International, Inc. and Concord Hospitality announced last week the opening of the Cambria Hotel & Suites Washington, D.C. Convention Center in the District’s historic Shaw neighborhood. It is the first Cambria Hotels & Suites property to open in the city.
Goldstar Group Buys Luxury Extended-Stay Apartments in Arlington, Plans Conversion into Condos
The Goldstar Group, a privately held firm based in Bethesda, is now the new owner of the luxury apartment complex at 3409 Wilson Boulevard in Arlington. The property was purchased from a joint venture between Hunt Properties, a privately held real estate development, investment and management firm, and Korman Communities, a fully integrated real estate company, for an undisclosed amount.
Exeter Property Group Buys Large Upper Marlboro Industrial/Flex Portfolio for $37M
Exeter Property Group continues its shopping spree in Maryland. The Pennsylvania-based company has been buying industrial properties in the Old Line State for the past two years. This week, it closed its largest acquisition to date.
KBS Acquires Camelback Corridor Office Complex for $85M
In an $85.1 million deal, KBS Real Estate Investment Trust III of Newport Beach, Calif., has acquired Anchor Centre, a 333,284-square-foot office development in Phoenix’s Camelback Corridor submarket.