Suburban Minneapolis Office Property Hit with Appraisal Reduction
Commercial Real Estate Direct Staff Report Plymouth Corporate Center, a 628,436-square-foot office property in the Minneapolis suburb of Plymouth, Minn., has been reappraised at a value of $45.3 million. The latest appraisal, which was highlighted this morning in a...
$685.58Mln of Austin, Texas, Hotel Loans Could Encounter Refinancing Hurdles
A significant slug of securitized mortgages backed by hotels in the Austin, Texas, metropolitan statistical area could face refinancing challenges, as 39 loans with a total balance of $685.58 million have debt yields less than 9%, according to data...
InvenTrust Buys Greensboro, N.C., Shopping Center for $34Mln
InvenTrust Properties has paid $34 million, or $201.18/sf, for New Garden Crossing, a 169,000-square-foot retail property in Greensboro, N.C. The Downers Grove, Ill., REIT purchased the shopping center from Hackney Real Estate Partners of Richmond, Va., which had bought it...
Hedrick Brothers Lands $56.5Mln Construction Loan for Kissimmee, Fla., Apartment Project
Orlando Business Journal Hedrick Brothers Development has lined up $56.5 million of construction financing for The Hedrick at Lake Toho Apartments, a 366-unit project in the Orlando, Fla., suburb of Kissimmee, Fla. The Winter Park, Fla., developer recently started...
Coral Gables, Fla., Office Property Fetches $97.8Mln
South Florida Business Journal A venture of Intalex, Itero Investments, and Greenwall has bought The Ponce, a 365,000-square-foot office complex in the Miami suburb of Coral Gables, Fla., for $97.8 million, or $267.95/sf. An affiliate of PGIM Real Estate...
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