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2019-05-24  17:39
CIJ USA
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Project News

Housing Trust Group developing workforce...

Housing Trust Group broke ground on a new workforce housing development in Palm Coast, Florida. The Palms at Town Center will offer 88 units. Rents will range from $234 for a one-bedroom and $1,101 for a three-bedroom apartment. Funding for the project came from multiple sources including $8.5m from Florida Housing Finance Corporation, $6m from Fifth Third Bank, $3m from Chase Bank an...
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2019-05-24  17:37
CIJ USA
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Deals

Manaport Plaza changes hands for nearly $30m

Finmarc Management purchased the Manaport Plaza in Manassas, Virginia, for $29.78m. The 250,000 sq ft shopping center is currently 90 percent leased. The property is anchored by Marshalls, Gabes, Ollies, Tuesday Morning, McKay Books, Advance Auto Parts and Dollar Tree. The seller was Combined Properties. “This acquisition underscores our continuing research and analysis of Manassas, w...
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2019-05-24  17:36
CIJ USA
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Appointments

Jessica Sawyer joins C&W as managing...

Jessica Sawyer was named managing director of Cushman & Wakefield’s New England leasing group. In her new role, Sawyer will provide advisory services for the company’s healthcare practice and other occupier sectors. With more than 15 years of real estate experience, Sawyer previously served as executive vice president of operations for Colliers International. She also held corpora...
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2019-05-24  17:34
CIJ USA
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Deals

Palm House Hotel sells for $39.6m in...

London and Regional Properties bought the Palm House Hotel in a bankruptcy sale for $39.6m. Located on a 1.38 acre site, the 82,648 sq ft, 79-unit property is located in Palm Beach, Florida. It was originally built in 1961 and expanded in 1981. The hotel is currently vacant and represents London and Regional Properties' first purchase in the US. Cushman & Wakefield represente...
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2019-05-24  17:31
CIJ USA
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Deals

Toro Real Estate Partners buys three Florida...

Toro Real Estate Partners has acquired three multifamily properties in Florida for just under $39m. Located in Jacksonville, Whispering Oaks, Highlander Apartments and River City Landing offer 552 units in total. Toro Real Estate Partners is planning to spend an additional $4m on exterior amenity enhancements, rebranding and interior improvements. The company now operates more than 3,...
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2019-05-24  10:52
CIJEurope.com
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Company News

SMG expanding its base in southeastern Hungary

Samvardhana Motherson Group is expanding its base in Turkeve, southeastern Hungary. The expansion is being helmed by the Indian automotive industry supplier’s molded plastics division, Motherson Automotive Technologies & Engineering (MATE), and is expected to cost HUF 5bn. The Hungarian government is contributing HUF 1.5bn to the project, which will add 100 jobs in the local labor...
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2019-05-24  10:27
CIJ Romania
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Company News

Prime Kapital to break ground on Marble...

Prime Kapital is set to break ground on Marmura Residence in the middle of June. The residential project will include about 450 apartments on ​1.5 ha in Bucharest. Plans also call for greenery, retail and services units and community space. The first phase is scheduled for completion in the first quarter of 2021. The rest of the project is expected to be delivered later that year.
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2019-05-24  09:52
CIJEurope.com
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Economy

CNB: Czech resi market still overpriced

The governor of the Czech National Bank decided to leave mortgage restrictions in place on Thursday, claiming that the Czech residential market is still overpriced. The conclusion is that neither the restrictions nor higher interest rates have succeeded in popping the real estate bubble. Banks will continue to provide mortgage loans only if the total amount borrowed isn't more th...
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2019-05-24  09:49
CIJEurope.com
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Research

Czech real estate investments clear €1bn in Q1

Just over €1bn worth of real estate investments came into the Czech Republic during the first quarter of the year, more than double the amount from the same period in 2018. According to Colliers International research, it was also just under half of the total €2.3bn worth of deal flow into the CEE-6 countries, with Polish investments having fallen 60 percent year-on-year. “The Q1 brig...
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2019-05-24  09:36
CIJEurope.com
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Project News

Eva Jiřična's daring design to replace...

Eva Jiřična emerged as the winner of an architectural competition by Central Group for a residential project that will replace the former Telecom headquarters in Prague 3. The jury considered 98 entries, including from world famous architectural studios such as Sou Fujimoto, Ian Ritchie and Richard Meier. The winning design included public green spaces, commercial areas and a nursery ...
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