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2019-10-17  15:25
CIJ USA
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Deals

Blackstone JVs with MGM Resorts on massive...

Blackstone Real Estate Income Trust and MGM Resorts International have entered into a $4.25 billion sale leaseback agreement of the real estate assets of the Bellagio. The parties will form a 95 percent Blackstone/5 percent MGM Resorts joint venture to acquire the assets. As part of the deal, MGM Resorts will lease the property from the joint venture and continue to manage, operate a...
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2019-10-17  15:22
CIJ USA
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Deals

Amara Temple Holding sells Palm Beach County...

Amara Temple Holding Corporation has closed on the $8.25 million disposition of a 10.44 acre commercial site in Palm Beach County. The buyer, Troy, NY-based United Group, paid just under $790,230 per acre. United Group intends to develop a independent living facility with parking and amenities. The property currently houses the Amara Shrine Center’s 17,084 sqf clubhouse and exterior s...
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2019-10-17  15:20
CIJ USA
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Deals

CORE buys Jacksonville strip mall for $23m

The Shoppes at Southside, a 112,613 sqf. retail center in the Southside submarket of Jacksonville, Fl. has been sold for $23.3 million. The buyer, CORE Investment Management, paid just under $207 per sqf for the asset located on Southside Boulevard. The 100-percent leased strip mall is home to national tenants Best Buy, Urban Air Trampoline and Adventure Park, Cold Stone Creamery, Moe...
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2019-10-17  15:18
CIJ USA
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Appointments

Olney named CEO at Berkshire Residential...

Berkshire Residential Investments has promoted David Olney to Chief Executive Office. Olney, a Partner and 33-year veteran of Berkshire, has led the company’s investment strategy CIO and Chair of the Investment Committee. Since joining Berkshire in 1986, he has executed on over $12 billion of investments in the U.S. rental housing sector. Olney received a Bachelor of Science degree fr...
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2019-10-17  15:16
CIJ USA
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Company News

SouthStar wins refinacing for Florida...

SouthStar Properties has secured a $53 million refinance of Vista at Lost Lake, an apartment complex 20 miles west of Orlando. Located in Clermont at 2550 Citrus Tower Blvd., the 468-unit apartment community was built in phases between 2007 and 2014. Hunt Real Estate Capital provided the five-year loan, which is a full-term interest only agreement. Terms of the funding call for SouthS...
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2019-10-17  13:00
CIJEurope.com
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Company News

P3 adding 12% to its Czech portfolio

The Czech divison of the industrial developer P3 had 160,000 sqm of space under construction during the third quarter of 2019. The biggest of its projects now underway remains P3 Lovosice, but it's also building space for its clients in its Prague D11 and Mlada Boleslav projects. The compay concluded an important deal with DHL for the construction of a 16,000 sqm and 15,000 sqm n...
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2019-10-17  11:02
CIJ Romania
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Company News

Da Vinci Residence rebranded to Delta City

Eden Capital Development took over Da Vinci Residence in Bucharest and renamed the project Delta City. The deal is valued at between €7m and €8m. The project includes around 333 apartments in three buildings. The project will undergo some modifications to adapt to the current market situation. The initial plans for Da Vinci Residence included studios, two-, three- and four-bedroom apa...
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2019-10-17  09:53
CIJEurope.com
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Deals

Mint Investments buys Na Příkopě 9/11

Mint Investments has acquired Na Příkopě 9/11 for one of its private clients in a deal whose seller was represented by CBRE. Mint is currently preparing to carry out a major technical overhaul of the building's technical infrastructure to bring the building up to date and to make it competitive in the future. “Building enjoys excellent location on Na Příkopě which has profiled ov...
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2019-10-17  09:40
CIJ Serbia
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Company News

Samsung SDI expanding plant in Hungary

Samsung SDI is expanding its battery plant in God, near Budapest. The company will invest HUF 390bn in the project, which is expected to add 1,200 new jobs to the local labor market. The company has two facilities in Asia and one in Hungary. “The state is providing non-returnable funding towards the investment project, the sum of which cannot be made public as yet. However, in view of...
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2019-10-17  09:36
CIJ Serbia
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Construction

Hungarian construction output up 5.9% in August

Output of the Hungarian construction sector increased by 5.9 percent y-o-y, totaling HUF 382.3bn, in August, according to the Central Statistical Office. The buildings segment grew 14.1 percent for the month, driven by the construction of residential, cultural and industrial buildings, while civil engineering output decreased by 6.5 percent. Construction output was down by 10.5 percen...
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