News

The REIT is opening its first full-service corporate office in Northern Virginia in part to target “incremental investment.”

Upon the acquisition of the 300,000-square-foot Piedmont Center 14, The Ardent Companies' ownership within Piedmont Center totals 10 buildings and approximately 1.7 million square feet on 32.8 acres in the Buckhead section of Atlanta.

The deal follows up Host Hotels' sale of the Westin New York Grand Central hotel in New York City for $302 million in January.

"Since the cannabis industry is emerging as a growth market, investors need to appreciate there is an art and a science to converting raw materials of cannabis and finished products,” says CFC principal Ira Singer.

The expanded incentive program will include Bridgeton, Jersey City, Millville, Mt. Holly, Phillipsburg, Plainfield, Salem, and Vineland.

The fund's first round closed with $450 million from a third party investor and $100 million from Nuveen's parent company, TIAA.

A long-term lease commitment from the University of Kansas Health System spurred the sale.

“Both parties were able to recognize the potential for a win/win scenario in the transaction,” says CBRE's Michael Curran, “one that expands Linlo's growing office ownership portfolio, while at the same time providing flexibility to Members 1st in planning for their continued growth.”