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NEW YORK CITY—The French government is reportedly in contract to sell the French Ambassador's co-op at 740 Park Ave. for $70 million, which would put the sale at $22 million over the asking price of $48 million.
PALM BEACH, FL—Hotel REIT Chatham Lodging Trust provided an update to analysts during a conference call on Tuesday on its previously announced $1.3 billion worth of acquisitions of late.
NORCROSS, GA—The owner of two apartment communities in the Atlanta suburb of Norcross have closed on a $22-million bridge loan that will finance exterior and interior renovations at the properties.
PHILADELPHIA—City officials are attempting to convince cold cuts manufacturer Dietz & Watson to use the former Frankford Arsenal site in North Philadelphia for its warehouse and trucking center.
PHILADELPHIA—NP International, based in Wayzata, MN, is looking to build three high-rise mixed-use towers on a parcel totaling approximately 8.5 acres at 23rd and Arch streets here.
TOWN OF THOMPSON, NY—In response to the news on Monday that a second prospective casino developer had decided not to pursue a casino license in Sullivan County because of difficulty securing financing due to competing proposals to the south in Orange County, Mitchell Grossinger Etess, CEO of Mohegan Tribal Gaming Authority, says his fir will remain in the fight for its casino project in Sullivan County
WASHINGTON, DC—A plan by the General Services Administration to offer two buildings in exchange for renovation work on two of its other properties could be delayed at the very least.
QUINCY, MA—In what will be the third recent collaboration between the two firms, Hines and MetLife report they plan to develop a large mixed-use complex here on nearly six acres of waterfront land at Marina Bay.
MACON, GA—National real estate investment firm Bluerock Real Estate LLC of New York City has acquired the 294-unit Ansley Village apartment community here.