RALEIGH, NC—Locally-based Concord Hospitality Enterprises and Kane Realty Corp. report they will develop and operate North Carolina's first AC hotel here in the city's North Hills section.

ATLANTA—Cocke Finkelstein Inc. has purchased the 18-story Solace on Peachtree multifamily development here. The 18-story apartment tower was purchased from Lubert-Adler Real Estate Funds of Philadelphia.

NEW YORK CITY—Locally-based lender Greystone reports it has earned Program Plus status from Freddie Mac Multifamily. The new designation enables Greystone, to offer loans of all sizes for multifamily properties in the tri-state region of New York, New Jersey and Connecticut.

BALTIMORE—Local development firm Cordish Cos. has begun preliminary talks with the city to build a $450-million arena in the Inner Harbor.

WASHINGTON, DC—General Services Administration administrator Dan Tangherlini announced he will be leaving the agency on Feb. 13 after almost three years at the GSA.

EAST RUTHERFORD, NJ—After 34 years of operation, first as the Brendan Byrne Arena, later as the Continental Airlines Arena and now as the Izod Center, the New Jersey Sports and Exposition Authority voted on Thursday to close the storied entertainment facility at the Meadowlands Sports Complex here.

WHITE PLAINS, NY—A $250-million mixed-use project mothballed since 2007 could break ground here by March.

NEW YORK CITY—Construction costs in Manhattan have risen 5% in each of the last two years, according to a report released today by the New York Building Congress.