Iconic Reynolds Building Sold, to be Converted to Mixed-Use
WINSTON-SALEM, NC—The historic Reynolds Building here has been sold by R.J. Reynolds Tobacco Co. to a partnership of Philadelphia-based PMC Property Group and Kimpton Hotels & Restaurants for $7.8 million. The new owners plan to covert the 22-story art-deco building into a mixed-use property consisting of a boutique hotel, restaurant and upscale apartments.
SAN DIEGO—Berkadia’s Ernie Katai discusses the multifamily demand and fundamentals that have helped his firm achieve rapid growth and how the firm is preparing for the year ahead, in this EXCLUSIVE video interview.
PLANO, TX—The closures, planned to occur over the next few months, come on the heels of the company’s first year of profitability since 2010.
NEWPORT BEACH, CA—Over time, long-term and short-term interest rates generally correlate, though this is not always the case in the short run, CBRE’s Phil Voorhees tells GlobeSt.com in this EXCLUSIVE story about his yield-prediction contest.
SAN DIEGO—Speakers during the CMBS panel at MBA’s CREF/Multifamily Housing Convention and Expo 2017 say educating brokers and borrowers is key to a healthy CMBS future.