News

A $128.3 million loan has been secured for the development by JLL, working on behalf of the developer, Kaizen Development Partners, to secure the five-year floating-rate construction loan.

The two apartment complexes, developed by Vista, are located in Atlanta, GA and Kennesaw, GA.

The joint venture partnership says it will embark on a multi-million-dollar repositioning of the property. Keystone reports that it will also relocate its headquarters, currently located at SORA East in Downtown Conshohocken, to the office complex.

The corporate name change comes as the firm gets set to begin a new $250-million project—Seaboard Station—and open a new office this fall in Raleigh, NC.

At a press conference in Secaucus, federal and state officials, as well as representatives from Amtrak, NJ Transit and the Gateway Development Corp. sponsor of the Hudson Gateway Tunnel program, stressed the need for the replacement of the 108-year-old moveable Portal Bridge, which has been estimated to cost $1.6 billion.

The Department of Central Management Services has issued a request for proposals for an array of project management and technical expertise to generate the best value from the sale of the property at 100 W. Randolph St. for the State of Illinois.

A report released by commercial brokerage CBRE predicts a strong restaurant sector with spending increasing above non-food retail industries. The analysis also indicates that South Florida will remain a prime market for international restaurant expansions into the US.

Portland-based Sortis Holdings Inc. invested capital from its $100 million Sortis Opportunity Zone Fund to close on equity funding for Tukwila Village Phase II, a mixed-income senior living development.