Development
Prism Puts Penthouse Units on Market
Prism Capital Partners, in its efforts to lease units at Parkway Lofts, its new redevelopment in Bloomfield, N.J., has unveiled the property’s one-bedroom penthouse apartments. The penthouses measure 814 square feet and include views of Manhattan or the Watchung Mountains.
Two Chinese Residential Projects Get $60M Investment from Century Bridge Capital
Century Bridge Capital is investing approximately $60 million in two separate joint ventures dealing with residential projects taking shape in the Chinese cities of Zhongshan and Wuxi.
Why Florida is Looking Favorable for Multifamily
Cortland Partners recently entered the Florida market with the $40 million purchase of Harbor at Lake Howell, a 408-unit, garden-style community in Orlando. MHN talks to John Builder, director of investments for Cortland Partners, about why taking on Florida is key strategic move for the development company.
Ballymore Seeks JV Partner for £2B ($3.4B) Residential Development Portfolio in London
By Adriana Pop, Associate Editor London—International property development company Ballymore has launched the search for a joint venture partner to finance and develop three large-scale residential projects in East London. Lazard and CBRE are advising the company in the selection process, Ballymore announced. Located at Canary Wharf, Leamouth and Nine Elms, the new developments will bring a total of 3,000 new residential units and 250,000 square feet of commercial, leisure and office space. Ballymore will act as development manager for the projects, which have a gross development value of about £2 billion (nearly $3.4 billion). At a waterside location in…
Salvo Property Group Develops $259M MF Tower in Melbourne
Salvo Property Group, a leading Australian development company focused on developing affordable luxury properties, has appointed Brookfield Multiplex to design and construct Platinum Tower, a $259 million (AUD 280 million) multifamily tower in Melbourne.
Crescent Communities Breaks Ground on Crescent Gateway
Crescent Communities has announced the ground breaking on its latest Orlando, Fla.-area luxury community, Crescent Gateway. The project, which is expected to complete in summer 2015, represents the first phase of the 80-acre Gateway development in the Orlando suburb of Altamonte Spring, Fla.
TODAY’S DEALS: Hamilton Zanze Sells 292-Units in Colorado Springs
ARA brokers a $40.5 million sale in Colorado; HFF arranges construction financing and joint venture equity for a mixed-use office and residential development in Houston; and Walker & Dunlop provides a three-year, cash-out, bridge loan for an assisted living facility.
Selling Condo Hotels
New SEC regulations facilitate the sale of condominium hotel units.
New Owners to Develop 450-Key Hotel at Graceland; Motel Sold by Developers
Graceland is about the get a major expansion.
IAC Breaks Ground on Mixed-Use Student Housing Project in Midtown Atlanta
Dallas-based student housing developer and manager Inland American Communities Group has broken ground on a 706-bed mixed-use community adjacent to the northeastern edge of the Georgia Institute of Technology campus in Midtown Atlanta.