by Kipp Gillian | Dec 29, 2023 | A Quick Word - Kipp Gillian, Employment
2024 The year we hold our breath. The last couple of years we’ve felt like been tumbling down one stair case after another. Hoping, after reaching the bottom of each flight “this has to be the bottom” but it just keeps going and going. Sure, some...
by | Feb 9, 2024 | Affordable Housing
Station42 has been under construction since early 2022. Image courtesy of The NRP Group Station42 has been under construction since early 2022. Image courtesy of The NRP Group Station42 has been under construction since early 2022. Image courtesy of The NRP Group The...
by | Feb 8, 2024 | Affordable Housing
Project partners’ representatives at the groundbreaking ceremony. Image courtesy of Allivate Impact Capital A joint venture of Nitze-Stagen and Co. and Housing Diversity Corp. has broken ground on Atrium Court, a 271-unit affordable housing community in Seattle....
by | Feb 6, 2024 | Affordable Housing
Community Housing Opportunities Corp. will soon open Monarch Apartment Homes, a 60-unit fully affordable housing community in Palm Springs, Calif. Monarch Apartment Homes comprises 12 two-story buildings. Image by Noé Montes, courtesy of CHOC Monarch Apartment Homes...
by | Feb 5, 2024 | Affordable Housing
Gallery at Marti Park will include residences for low-income seniors. Rendering courtesy of Related Group Gallery at Marti Park will include residences for low-income seniors. Rendering courtesy of Related Group Gallery at Marti Park will include residences for...
by | Feb 5, 2024 | Affordable Housing
Colibri Commons expects completion by summer 2025. Rendering by David Baker Architects, courtesy of MidPen Housing Colibri Commons expects completion by summer 2025. Rendering by David Baker Architects, courtesy of MidPen Housing Colibri Commons expects completion by...
by | Feb 5, 2024 | Affordable Housing
Hudson Valley Property Group has acquired Northgate One, a 321-unit affordable housing community in Camden, N.J. The seller was B&F Management, according to Yardi Matrix, which had purchased it in 2011 for $10.3 million from a private owner. Hudson Valley plans to...
by | Feb 2, 2024 | Affordable Housing
Co-developers A Community of Friends and U.S. VETS will soon open Ventura Springs, a 122-unit fully affordable and supportive housing community in Ventura, Calif. A Community of Friends has also developed Oasis Senior Villas, near Los Angeles. Image courtesy of DE...
by | Jan 31, 2024 | Affordable Housing
Modular design and construction has been around for decades, yet evaluating its long-term viability for multifamily is complex. Some indicators suggest that modular is steadily gaining traction in the sector. According to the most recent data from the Modular Building...
by | Jan 30, 2024 | Affordable Housing
Jonathan Rose Cos. has purchased Mission Gardens Apartments, a 50-unit affordable senior housing community in Santa Cruz, Calif. A partnership between Reiner Communities and Las Palmas Housing sold the asset. CBRE Senior Vice President Taylor Froland brokered the...
by | Jan 26, 2024 | Affordable Housing
Mercy Housing California has completed Burbank Boulevard Senior Housing, a 55-unit fully affordable and age-restricted community in Sherman Oaks, Calif. Developed in response to the rising homelessness rates, Burbank Boulevard Senior Housing promoted the wellness of...
by Kipp Gillian | Jan 23, 2024 | Multifamily
The Tower Life building will take on a new role. Alamo Architects is tasked with creating a new look for the onetime prominent office building. The new look will include residential apartments. McCombs Enterprises bought the 95-year-old property in 2022, and this...
by Kipp Gillian | Jan 23, 2024 | Industrial
A very large truck parking lot in Commerce City was acquired by Semi-Stow. Hampton Yards purchased the parcel in 2021 for $6.94 million and sold it for $18.5 million. The company said it had to get a rezoning on the piece, as well as perform a major cleanup on it. The...
by Kipp Gillian | Jan 23, 2024 | Retail
GTIS Partners and Clyde Capital are combining efforts on the development of a $250 million mixed-use, master-planned community in Surprise. The Asante Trails project will include a build-to-rent community, retail space and a medical facility, built across 90 acres of...
by Kipp Gillian | Jan 23, 2024 | Multifamily
GTIS Partners and Clyde Capital are combining efforts on the development of a $250 million mixed-use, master-planned community in Surprise. The Asante Trails project will include a build-to-rent community, retail space and a medical facility, built across 90 acres of...
by Kipp Gillian | Jan 23, 2024 | Multifamily
Summit at Salado Creek and The Canopy Apartments are being auctioned off, victims of the tenuous borrowing climate. The San Antonio Business Journal reports the two are slated for a distressed sale next month after their owners defaulted on tens of millions of debt....
by Kipp Gillian | Jan 23, 2024 | Distressed Assets
Summit at Salado Creek and The Canopy Apartments are being auctioned off, victims of the tenuous borrowing climate. The San Antonio Business Journal reports the two are slated for a distressed sale next month after their owners defaulted on tens of millions of debt....
by Kipp Gillian | Jan 23, 2024 | Hotel
Galveston is getting a Margaritaville. RREAF and Innisfree are partnering on a $250 million project, including the 334-room hotel, a two-and-a-half-acre water park, four restaurants and a ballroom. The project is on the beach at 317 East Beach Drive. The group will...
by | Jan 23, 2024 | Affordable Housing
Co-developers Healthy Homes, Community Development for All People, Nationwide Children’s Hospital and Woda Cooper Cos. have recently opened Lockbourne Greene, a 60-unit fully affordable housing community in Columbus, Ohio. A second phase of the Lockbourne Greene...
by Kipp Gillian | Jan 23, 2024 | Retail
Work has started on Wyld Oaks, a 215-acre mixed-use project in Apopka, Fla., 25 miles northwest of Orlando. The project reportedly represents a $1.2 billion total investment. Joseph Beninati is head manning the project. Sited at 4105 Golden Gem Road, the development...
by Kipp Gillian | Jan 23, 2024 | Multifamily
Work has started on Wyld Oaks, a 215-acre mixed-use project in Apopka, Fla., 25 miles northwest of Orlando. The project reportedly represents a $1.2 billion total investment. Joseph Beninati is head manning the project. Sited at 4105 Golden Gem Road, the development...
by Kipp Gillian | Jan 23, 2024 | Hotel
Work has started on Wyld Oaks, a 215-acre mixed-use project in Apopka, Fla., 25 miles northwest of Orlando. The project reportedly represents a $1.2 billion total investment. Joseph Beninati is head manning the project. Sited at 4105 Golden Gem Road, the development...
by Kipp Gillian | Jan 23, 2024 | Industrial
Jacksonville issued a building permit to Industrial Building Group to construct a 275,000-square-foot cold storage warehouse, a popular industrial sector in the area. At least five refrigeration and cold-storage projects are in development, primarily in North...
by Kipp Gillian | Jan 23, 2024 | Industrial
Dominion Energy NC has purchased the land needed to get going on a liquified natural gas storage facility in Person County. They paid $12 million for the land needed for the 500-acre plant. The Triangle Business Journal reports 70 acres will be for the actual gas...
by Kipp Gillian | Jan 23, 2024 | Industrial
Gerresheimer, a German-based pharma and life science manufacturer, will invest more than $88 million in expanding its manufacturing operations in Peachtree City, creating over 200 new jobs for Fayette County. Gerresheimer offers a portfolio of pharmaceutical...
by Kipp Gillian | Jan 22, 2024 | Office
Mesirow, an independent, employee-owned financial services firm, has signed a 10-year extension on its current lease at 353 N. Clark, a LEED Platinum-certified building in the city’s River North area.“We are pleased to be staying in our longtime...
by Kipp Gillian | Jan 22, 2024 | Industrial
Bridge Industrial has acquired a roughly 22-acre site located at the intersection of Route 53 and Joliet Road. The project will serve as the future home of “Bridge Point I-55 Commerce Center.”Bridge plans to construct, on a speculative basis, two...
by Kipp Gillian | Jan 22, 2024 | Multifamily
CIBC has announced financing for an affordable housing initiative, including a $17.6 million construction loan, a $708,000 permanent loan and a $26 million investment in Boulevard Apartments Preservation, LP. The funding will be used to acquire and rehabilitate the...
by Kipp Gillian | Jan 22, 2024 | Multifamily
JLL has closed the $53.4 million sale of and the $25.5 million financing for Elan West End, a 164-unit, newly built multi-housing community in St. Louis Park, Minnesota. JLL worked on behalf of the seller and procured the buyer. The firm also represented the new owner...
by Kipp Gillian | Jan 22, 2024 | Retail
An affiliate of Core Acquisitions has completed shopping center acquisitions totaling 203,000 square feet of space in Tinley Park and Schaumburg. The seller of both assets was DRA Advisors. Park Center in Tinley Park is a 132,000-square-foot shopping center anchored...
by Kipp Gillian | Jan 22, 2024 | Multifamily
The Build-to-Rent (BTR) market in Minneapolis-St. Paul is benefiting from some of the area’s dynamics that attract developers. Due to strong employment growth and high-wage earners that developers target, the Twin Cities area is seeing steady BTR activity,...
by Kipp Gillian | Jan 22, 2024 | Industrial
Construction costs in Seattle rose 7.76% between October 2022 and October 2023, according to a fourth-quarter construction cost report from Rider Levett Bucknall (RLB). National construction costs jumped 5.9% over that period. In addition to higher borrowing costs and...
by Kipp Gillian | Jan 22, 2024 | Office
Hoffman Construction Company, one of the largest general contractors headquartered in the Pacific Northwest, is planning to move its headquarters to Lake Oswego, leaving the firm’s downtown office.Hoffman currently operates at Fox Tower, a 27-story skyscraper in...
by Kipp Gillian | Jan 22, 2024 | Retail
CBRE arranged the sale of nine individual Big Lots store locations in Southern California and Florida to two buyers, Robhana Group and Reliable Properties. CBRE’s retail investment property sales team led by Alex Kozakov and Patrick...
by Kipp Gillian | Jan 22, 2024 | Industrial
Rising Realty Partners (RRP) has partnered with DRA Advisors to acquire a portfolio of six light industrial properties totaling 531,308 square feet on a combined 41 acres in Stockton and Tracy. Three of the properties are multi-tenant light industrial...
by Kipp Gillian | Jan 22, 2024 | Office
San Diego based Roseling Nakamura Terada Architects, Inc. (RNT) has signed a long-term lease for 10,201 square feet on the fifth floor of Block D, a 60,000-square-foot office building in the Makers Quarter district in Downtown San Diego. RNT is relocating its...
by Kipp Gillian | Jan 22, 2024 | Multifamily
Two multifamily development sites in Brooklyn were sold for $7 million. The properties, located at 962 and 976 Bushwick Ave., constitute a 421a development site with plans for two seven-story multifamily buildings totaling 53 units. Names of the buyer and seller were...
by Kipp Gillian | Jan 22, 2024 | Multifamily
Manhattan’s average rental price declined by 1.56% to $4,617 in the last month of 2023, according to MNS’ NYC rental reports. Gramercy saw the largest month-over-month increase (9.6%) in DM (doorman) 1BR, while FiDi NDM (non-doorman) Studios had the...
by Kipp Gillian | Jan 22, 2024 | Office
The Feil Organization has announced that Mulligan Security, a private security and fire safety contractor, has renewed its lease for 12 years and will expand its presence by 15,788 square feet at 7 Penn Plaza in Midtown. The expansion will bring its total occupancy to...
by Kipp Gillian | Jan 22, 2024 | Industrial
Boston-based real estate investment and services firm A.W. Perry has achieved development milestones at Lynnway Park, a 250,000-square-foot industrial facility in Lynn, MA. The former West Lynn Creamery and Garelick Farms processing plant, now rebranded as...
by Kipp Gillian | Jan 22, 2024 | Multifamily
Denver-based ArrowMark Partners, and Irvine-based Western National Group have formed a programmatic co-GP venture that will invest in multifamily projects throughout Southern California. The venture will provide general partner capital to acquire existing multifamily...
by Kipp Gillian | Jan 22, 2024 | Retail
Ares Commercial Real Estate has requested foreclosure over a $127 million loan on a property at Live Oak and Texas Streets in Dallas. The property includes the Gabriella apartments and a ground-floor Tom Thumb grocery store. The loan was originated by an affiliate for...
by Kipp Gillian | Jan 22, 2024 | Distressed Assets
Ares Commercial Real Estate has requested foreclosure over a $127 million loan on a property at Live Oak and Texas Streets in Dallas. The property includes the Gabriella apartments and a ground-floor Tom Thumb grocery store. The loan was originated by an affiliate for...
by Kipp Gillian | Jan 22, 2024 | Retail
Craig International is building a $6 billion project on Lake Texoma. The company recently bought 3,000 acres in Denison, hoping to build 7,500 homes, including luxury single-family, active adult, and multifamily, a resort hotel, retail, restaurants, and an upscale...
by Kipp Gillian | Jan 22, 2024 | Hotel
Craig International is building a $6 billion project on Lake Texoma. The company recently bought 3,000 acres in Denison, hoping to build 7,500 homes, including luxury single-family, active adult, and multifamily, a resort hotel, retail, restaurants, and an upscale...
by Kipp Gillian | Jan 22, 2024 | Industrial
George Smith Partners successfully arranged $6,700,000 in C-PACE financing, complemented by $14,400,000 in fixed-rate construction debt, to fund a new 53-unit luxury garage condominium project in Frisco, Texas. Spanning over 5 acres in a Dallas suburb, the financing...
by Kipp Gillian | Jan 22, 2024 | Retail
As of year-end 2023, Austin posted a strong occupancy level of approximately 96.8 percent, based on Weitzman’s review of retail market conditions. The percentage, the strongest among Texas’ major retail markets, is based on a market inventory of approximately 52.4...
by Kipp Gillian | Jan 22, 2024 | Retail
The second phase of Raleigh’s The Weld near Dix Park will consist of a 20-story tower with 525 apartment units. Amenities will feature a rooftop terrace, sky lounges and mezzanine units on the top floor. Real estate firms SLI Capital and Mack Real Estate Group...
by Kipp Gillian | Jan 22, 2024 | Hotel
Called Trilith Guesthouse, the 193-room hotel is in the mixed-use project next to the Trilith film campus in Fayette County. The Atlanta Business Chronicle reports the hotel will cater to film and other creative workers and has 36 suites for extended stays, including...
by Kipp Gillian | Jan 22, 2024 | Hotel
LD&D has unveiled plans for its $200 million Cass Square mixed-use project in downtown Tampa. LD&D plans to break ground on Phase I of the project, a luxury multifamily tower, this summer. A luxury hotel will soon follow. The 28-story multifamily building will...
by Kipp Gillian | Jan 22, 2024 | Hotel
Miami-based Gencom has retaken majority ownership of the 291-key Ritz-Carlson Key Biscayne from Toronto-based Brookfield Asset Management. While the price was not disclosed, published reports gauge the value at over $400 million. Gencom plans a $100 million...