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Posts from CIJ Europe.com for 05/02/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 05/02/2016

Emirates increase capacity on Prague-Dubai route with Airbus A380

May 02, 2016 11:23 am
A giant Airbus A380 from Dubai landed in Prague for the first time on Sunday, starting a new connection by air carrier Emirates between the two cities. The move indicates growing demand for service between the two capitals, as the aircraft can take 519 passengers. That’s an increase of 44 percent over the Boeing 777 that the airline had used for the route until now. The...
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Slovak minister promises rapid completion of Prešov bypass

May 02, 2016 11:15 am
Slovakia’s minister of transportation Roman Brecely has promised that the Prešov bypass will be ready in less than a year. People driving in and out of the city currently have to deal with heavy congestion and up to half hour delays, which is both absurd and economically crippling for such a regional city. The minister said that workers would return to the site in June,...
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CC Homes and Lennar Homes acquire White Course golf course site in Doral

Apr 29, 2016 05:07 pm
In a $96 million deal, a joint venture between Lennar Homes and CC Homes has acquired the White Course golf course site in Doral. The partners plan to expand the mixed-use project Downtown Doral, which sits on a 130 acre site. The property is located on the east side of Northwest 87th Avenue and was previously owned by a hotel company that filed Chapter 11 during the...
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Asia Capital wins bidding for Florida multifamily portfolio with $41m bid

Apr 29, 2016 05:05 pm
Asia Capital Real Estate has picked up a five-property multifamily portfolio in Florida for $41 million. The investment includes the Palms at Cedar Trace (176 units), Palms at Sand Lakes (212 units), Palms at Ashley Oaks (130 units), Palms at Palisades (125 units) and Palms at Cortez (92 units). The entire multifamily portfolio represents nearly 620,000 sqf of rentable...
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Miami makes top ten of metro areas for creating construction jobs

Apr 29, 2016 04:59 pm
According to new data from the Associated General Contractors of America the Miami metro area added 7,000 new construction jobs between March 2015 and March of 2016. Out of 358 metropolitan areas surveyed using data from the U.S. Department of Labor, Miami had the seventh highest increase in construction jobs. Of the 358 cities surveyed 244 added to the job roles while the...
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WCI Communities revenues rise 42% in Q1 as prices drop

Apr 29, 2016 04:55 pm
Bonita Springs-based homebuilder WCI Communities reports the company's revenues rose nearly 42 percent compared with the same quarter a year ago. The builder reported net income of $6.7 million on revenues of $138.3 million in the quarter ending March 31 versus a net income of $5.7 million on revenues of $97.7 million in the same quarter one year ago. WCI delivered 254...
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NYU Langone Medical Center to occupy 25-story tower at 222 East 41st St.

Apr 29, 2016 04:52 pm
Columbia Property Trust has signed a 30-year lease with NYU Langone Medical Center for the 25-story office tower at 222 East 41st Street. The triple-net lease encompasses all 389,522 sqf of Class-A office space in the building, including the common areas and parking garage. NYU Langone is expected to move in at the end of 2016, as the lease with law firm Jones Day in the...
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Hollister building medical offices for Care Station Medical in West Orange

Apr 29, 2016 04:49 pm
Hollister Construction Services has broken ground on a new medical office building for Care Station Medical Group in West Orange, NJ. The new 9,000 sqf, two-story facility is located next to the group's current site at 456 Prospect Ave. Care Station will occupy the entire first floor with multiple exam and x-ray rooms, staff areas, reception lobby and waiting area. The...
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Starwood Hotels opens Aloft El Segundo - Los Angeles Airport

Apr 29, 2016 04:47 pm
Starwood Hotels & Resorts Worldwide has announced the opening of Aloft El Segundo – Los Angeles Airport, the brand’s first hotel in Los Angeles County. The property, owned by Rubicon Companies and managed by Aimbridge Hospitality, recently underwent a $20 million conversion project to reposition it as an Aloft hotel. Located one mile south of Los Angeles International...
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Hilco and Redgate acquire New Boston Generating Station for brownfield scheme

Apr 29, 2016 04:44 pm
Development firms Hilco Global and Redgate Partners have closed on the purchase of Exelon Corp.’s New Boston Generating Station for $24.25 million. Located in South Boston at the corner of Summer and First streets, the complex sits on a 18 acre waterfront site. Hilco Global, which specializes in redeveloping industrial sites, stated that no plans for the facility have been...
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Berlin Hyp finances commercial portfolio for Gramercy Property Europe

Apr 29, 2016 03:02 pm
Berlin Hyp is providing €125m to Gramercy Property Europe for the acquisition of a mixed commercial portfolio in Germany, Poland and the Netherlands. The portfolio comprises a total of twelve single-tenant buildings with four in Germany, two in Poland and six in the Netherlands. The total rental area of the portfolio is approximately 280,000 sqm. All properties have...
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Aberdeen Asset Management secures €150m for launch of German Property Fund

Apr 29, 2016 03:00 pm
Aberdeen Asset Management has launched the Aberdeen German Urbanisation Property Fund, which will invest in both residential projects and mixed-use developments. Aberdeen has already secured €150m of commitments from pension funds, insurance and other institutional clients, with the aim to grow the Fund to €1.5bn. ”The successful launch of the Aberdeen German Urbanisation...
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Aberdeen Asset Management secures €150m for launch of German Property Fund

Apr 29, 2016 02:59 pm
Aberdeen Asset Management has launched the Aberdeen German Urbanisation Property Fund, which will invest in both residential projects and mixed-use developments. Aberdeen has already secured €150m of commitments from pension funds, insurance and other institutional clients, with the aim to grow the Fund to €1.5bn. ”The successful launch of the Aberdeen German Urbanisation...
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