Cities
Phoenix Apartment Market Podcast
Pierce Eislen’s Ron Brock Sr. and MHN’s research editor Jack Kern discuss Phoenix apartment market fundamentals in this edition of our market research podcast.
Othello Partners Awaits Design Review on New Rainier Valley Residential Project
Local developer Othello Partners is once again looking to develop a residential complex, in the vicinity of another high-profile project that the company debuted two years ago. Station at Othello Park was in itself an ambitious project, announced and developed in a time of uncertainty for the national residential market. Now the company will follow the Station with its new, Othello Station North.
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.
Greenbuild Property Tour Slideshow: Four Sustainable Communities in Philadelphia
While it is great to report on all the innovative apartment communities being built across the country during this development cycle, there is nothing like getting to tour some properties first hand. MHN recently had the opportunity to tour four niche multi-housing communities in Philadelphia at the forefront of the green movement.
Inland American Real Estate Trust Inc. Acquires Hotel Monaco Chicago;
Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc., recently announced the acquisition of three luxury boutique hotels from Kimpton’s Hotel Monaco collection. The three hotels, acquired for a purchase price of $189 million include the Hotel Monaco Chicago, Hotel Monaco Denver and the Hotel Monaco Salt Lake City.
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.
Development Slate: Amazon Makes Changes to Denny Triangle Spheres, GIS Rekindles Hotel-Condo Project and Belltown Site Trade Hands
Recent news regarding a number of new or resurrected projects have energized an already exciting development scene as Seattle is seeing large projects continue to take the stage in its downtown area. As Amazon continues to modify its artsy spheres, two high-rise projects promise to make their mark on the city’s skyline, as a mixed-use tower project emerged from the shadow of the economic downturn, and a brand new project might be on its way in Belltown after a development site recently traded hands.
SPECIAL REPORT: Development and Design Trends that Drive Occupancies
At a recent panel discussion presented by Multi-Housing News and sponsored by Interface and Universal Fibers an architect, investor and developer shared what they know about the development and design features that drive occupancies in apartments today.
TODAY’S DEALS: Capital One Provides Bridge Loan for Rental Conversion
HFF arranges financing for a N.J. community; KB Homes buys a condo development site in San Francisco; and NorthMarq Capital arranges a $32.4 million Freddie Mac loan for a Class A property.
Bosa Development to Sell 350 Residences at Insignia Development in Seattle
Residences in the Northwest’s largest condo development, Insignia, are now on the market after Bosa Development kicked off the sales for its first 350 units to potential buyers from its Sales Center in Seattle last weekend.