Miami

Officials with the firm say the company is currently poised to enter the Las Vegas market and is considering three locations along the 215 Beltway and/or in the southwestern Las Vegas valley to develop luxury rental apartment communities.

The 266,303-square-foot portfolio was purchased on behalf of Sterling Organization's institutional fund, Sterling Value Add Partners III, LP for an undisclosed amount.

The nature of work is changing, and that's not just a tech thing. One expert on the subject believes that those managers who don't recognize the changes taking place around them are traveling a road to irrelevance.

The Mayo Clinic is partnering with Singapore-based Pontiac Land on the $190-million project that will also include hotel space.

The multi-family property consists of 24 two-story buildings with 20 one-bedroom, 152 two-bedroom and 20 three-bedroom units.

So far this year, Columbus, OH-based Coastal Ridge's multi-family acquisition volume in Fort Myers totals almost $200 million.

The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.

North Ranch Gateway was originally built in 1989 and recently underwent significant renovations, according to the Sterling Organization. The property was purchased on behalf of Sterling Organization's recently launched institutional fund, Sterling Value Add Partners III, LP.