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Vertical construction has begun on the creation of 266 residences and some 72 acres of parks, beaches, and hiking and biking paths, as part of an approximately $1.5 billion development on Yerba Buena Island.
The hotel has undergone a meticulous renovation to include the restoration of the marble and Granux exterior and the marble-clad lobby, along with the Zoe Ballroom being restored to its original 1914 design.
In this <b>EXCLUSIVE</b>, TRI Pointe Group provides insight into its acquisition of Dunhill Homes and Nathan Carlisle Homes, and how it capitalizes on the Dallas and Fort Worth housing markets.
Donigan, who most recently served as the president and CEO of Sapphire Digital (formerly Vitals) of Lyndhurst, NJ, replaces John Standley, who served as CEO for the national drugstore chain for nearly nine years, effectively immediately.
Corey Lonberger, managing partner at RRA, says, “Both properties traded at sub 6.5% T-12 cap rates and north of $110,000 per unit, which shows the strength of the multi-family market at this time. With historically low interest rates, values are at all-time highs.”
While new supply is outpacing leasing activity in some markets, other regions experienced a considerable rebound in net absorption after a slow start to the year.