Midwest

Westchester County IDA Looks to Grant Incentives for $95M Multifamily Project

John Jordan |

The development plan calls for a total of 303 units that will consist of a mix of one- two- and three-bedroom apartments. A total of 19 units would be affordable to those making 60% of average median income.

News

Global Medical REIT Buys $94M Portfolio

Erika Morphy |

CNL Healthcare Properties was the seller of the four inpatient rehabilitation facilities.

News

Vornado Sells Stake in $5.6B Fifth Ave, Times Square Portfolio

John Jordan |

In connection with the deal, Vornado also reports that Haim Chera, 50, has left the family-owned Crown Acquisitions to join Vornado as its EVP- head of retail.

Best Retail Sales Since 2017 Brighten US Growth Outlook

Reade Pickert |

With first-quarter gross domestic product figures due April 26, the surprisingly strong retail report spurred economists to further increase projections.

News

$55M Tiffany Springs Senior Living Community Opening Soon in North Kansas City

Steve Lubetkin |

The luxury, rental-based senior community in Tiffany Springs will offer upscale residential options with country-club style amenities and services.

News

RD Management Planning Mixed-Use Development at Muskegon, MI, Shopping Center

Steve Lubetkin |

Residential buildings and a Mercy Health facility will be added upon removal of a vacant former Kmart.

News

Blackstone’s Assets Under Management Exceeds $513B; Firm to Convert to Corporation Structure

John Jordan |

The New York City-based global investment firm says it will begin operating as a corporation effective July 1. The firm also reported its first quarter financial results that indicated Blackstone’s assets under management now exceeds $512 billion, up 14% year over year.

News

Summit Hotel Properties Sells Six Hotels for $135M

John Jordan |

Summit reports that the six hotels traded will produce a net gain of $36.6 million. The six hotels in the markets of Minneapolis-St. Paul, Boston, Santa Barbara (CA), Dallas and Salt Lake City totaled 815 rooms.

Features

A New Marketplace for OZ Investors and Developers

Tanya Sterling |

InvestReal enables investors and developers to connect, research locations and validate projects in one place.

Treasury Sheds More Light on Opportunity Zone Rules

Erika Morphy |

The Treasury Department clarified that leasing can meet the act of conduct requirement of a business.