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2019-07-23  16:05
CIJ USA
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Deals

NexPoint Hospitality buys remaining shares...

NexPoint Hospitality Trust and Condor Hospitality Trust have entered into an agreement under which NHT will acquire all of the outstanding equity interests of Condor and its operating partnership by merger. Under the $318 million transaction, NHT acquires 15 select service and extended stay hospitality properties, which represents 1,908 guestrooms across eight U.S. states. A $11.10 pe...
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2019-07-23  16:02
CIJ USA
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Deals

NYC REIT buys mixed-use portfolio for $88.8m

New York City REIT has paid $88.8 million for a portfolio of mixed use office buildings and retail condominium units in New York City. The 60,297 sqf asset spans the ground level, second, third and sub level floors at 196 Orchard Street. The locations are 100 percent leased to Marshalls, CVS, and Equinox with an average remaining lease term of 13.4 years. The deal was completed with a...
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2019-07-23  15:57
CIJ USA
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Deals

Montgomery Housing Partnership pays $37m for...

Joint venture partners, WCSmith and Aldon Torch, have closed on the disposition of a garden style apartment community in Washington, D.C. The buyer, Montgomery Housing Partnership, paid $37 million or just over $93,900 per apartment for the 394-unit affordable housing community. The asset reserves units for residents with incomes that do not top 60 percent of Area Median Income. The p...
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2019-07-23  15:55
CIJ USA
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Company News

Location Ventures acquires Coral Gables, FL...

Location Ventures has landed a $9.4 million Fannie Mae loan for a student housing complex in Coral Gables, Fla. The 24 unit asset, located at 800 S. Dixie Highway, recently underwent a $2.1 million conversion from a condominium. The four-story building features a mix of two and three bedroom units with common amenities including a swimming pool, controlled entry and covered parking. B...
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2019-07-23  15:53
CIJ USA
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Appointments

Pappas named Principal at Lee &...

Alex Pappas has joined Lee & Associate as principal of the firm's South Florida branch. Pappas will establish a multifamily institutional sales platform for the company focusing on multifamily and mixed use development investments. He will also be responsible for the advisory and disposition of stabilized multifamily properties throughout the region. Pappas has more than 25 y...
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2019-07-23  10:33
CIJ Serbia
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Project News

New shopping center to open in August in...

The public company Elektrodistribucija Pale together with the company Zvornicanka will open a new shopping center located in Rogatica, eastern Bosnia at the beginning of August. The facility will offer around 4,000 sqm, including an underground level, a ground floor and first floor. Construction on the project, which has an investment value of around €1m, began in August last year. Th...
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2019-07-23  10:26
CIJ Serbia
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Company News

Skanska sells Nordic Light Trio office...

Skanska has sold its Nordic Light Trio office building in Budapest to JR AMC, a South Korean real estate investment trust. The transaction is valued €41m and will be recorded by Skanska Commercial Development Europe in Q3 2019. The actual transfer of the property is scheduled for Q2 2020. Nordic Light Trio has about 14,000sqm leasable area, of which 98 percent is leased to a multinati...
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2019-07-23  10:21
CIJ Serbia
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Economy

Real estate prices out of control in Dalmatia

The Croatian coastal town of Split has seen a 30 percent rise in residential construction levels over the past two years. Everything that comes to the market is sold, including new product in elite neighborhoods where prices can reach €4,000 per square meter. Demand is outstripping supply and prices are rising quickly, especially in expensive neighborhoods like Znjan and Majam. Nation...
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2019-07-23  10:14
CIJ Serbia
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Project News

New Factory opened in eastern Bosnia

The Bosnian based company Boksit has opened new factory located in Milici, eastern Bosnia following an investment of €1.3m. The Prime Minister of the Government of the Republika Srpska, Radovan Višković and the President of the Boksit Company, Rajko Dukić, opened a factory for drying and grinding hydrates. Minister of Energy and Mining of Republika Srpska Petar Đokić, Minister of Heal...
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2019-07-23  10:06
CIJ Romania
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Company News

LSG Group sells Hagi Ghita office building...

A multinational company active in the industrialized agricultural production sector has acquired the Hagi Ghiţă office building in the Romanian capital from LSG Group. The building is located on Hagi Ghiţă street, located northwest of Victoriei Square and provides 1,500 sqm of office space over 5 floors of between 200 sqm and 300 sqm. The building's construction was completed in ...
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