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The Greater Boston Association of Realtors reported that 1,214 single-family detached homes were sold in metropolitan Boston, which set a new record for sales for the month and was a 4.9% increase on the 1,157 homes sold in November 2017.
The Highlands property was purchased with a 97% leased rate, but that percentage is expected to fall shortly to approximately 70% due to pending lease expirations, Equus Partners reports.
A Global Infrastructure Partners consortium acquired its stake in Gatwick Airport in 2009 for GBP 1.51 billion ($2.5 billion). GIP will manage the remaining 49.99% interest in the airport once the deal with VINCI Airports is finalized.
MRP Industrial plans to construct the single-story building on a site that formerly contained a Class B, 244,000-square-foot block and metal warehouse, which collapsed from structural failure after a heavy snow storm in 2016.
"Adding Harrah's Philadelphia to our growing portfolio of best in-class gaming real estate strengthens our presence in the attractive Mid-Atlantic gaming market," says Edward Pitoniak, chief executive officer of VICI Properties.
Despite rising interest rates, tightening credit and lingering uncertainty over the geopolitical climate, many commercial real estate experts remain bullish on the market going into the new year.