LJ Group, Cresco Capital Group to Develop 552-Unit Student Housing Community in Berlin
The LJ Group recently announced it has committed a total of €100 million of equity (about $135 million) to Cresco Capital Group’s German student housing venture, Cresco Urban Yurt.
Incheon’s NEAT Tower Opens, Takes the Title of South Korea’s Tallest Skyscraper
After eight years of construction, South Korea’s tallest skyscraper is finally open.
Purchasing Castles
The financial crisis of the previous decade hit the real estate market hard. But a medieval castle is not like an apartment or a house.
MHN Interview: Alexandra Johns will Lead Resmark’s Washington, D.C. Office
“We seek out builders and developers whom we hold in high esteem, and who have unique experience and understanding of the submarkets in which they are active.”
Devonshire REIT Buys Mentor’s Great Lakes Plaza for $8M
Another Cleveland-area shopping center has changed hands. A few weeks ago, Starwood Capital Group has completed the acquisition of two Northeast Ohio shopping centers, as part of a seven-property portfolio for which the Greenwich, Conn.-based investment firm has paid $1.6 billion to the Sydney, Australia-based Westfield Group. Now, Devonshire REIT, Inc. Has announced it has closed the purchase of Great Lakes Plaza.
Inland American Buys Alexandria’s Lorien Hotel & Spa for $45M
Inland American Real Estate Trust, Inc. has announced this week the acquisition of its tenth hotel property in 2013. Through its subsidiary, Inland American Lodging Group, Inc., the company has purchased the Lorien Hotel & Spa in Alexandria, Virginia. It paid approximately $45 million for the property.
Greystone Funds $6 Million Acquisition of Portsmouth M-F Complex
Greystone, a financial services and private investment group with headquarters in New York, announced this week it has closed on a $6 million Delegated Underwriting and Servicing loan from Fannie Mae. The loan will be used for the acquisition of Cedarfield at Churchland Apartments in Portsmouth, Virginia.
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