The troubled student housing REIT's merger agreement with affiliates of the privately owned investment management firm is the latest example of REIT privatization.
Rollins Out, Kahlbaugh In as Campus Crest Begins Strategic Repositioning; SL Green Names DiLiberto as CFO; Cresa Brings Travers into the Fold; Warwick Joins Compass Real Estate as CIO; Edwards Joins Greystone as CMBS Managing Director; Interwest Capital Adds Meredith as Director of Acquisitions; Ross Named CFO of Behringer Harvard Opportunity REIT I; CBRE Names Stoffers Global President, Debt & Structured Finance.
Campus Crest Communities is stopping its construction activities and moving ahead with a major acquisition in a shakeup at the REIT that included the resignation of CEO and company co-founder Ted Rollins and CFO Donnie Bobbitt.
U.S.-based Campus Crest Communities Inc. in a joint venture partnership with Geneva- and London-based Beaumont Partners SA acquired the 488-room Holiday Inn Midtown in Montréal.
Nearly three years after President Obama launched the Better Buildings Challenge to help American commercial and industrial buildings become at least 20 percent more energy efficient by 2020, the administration has expanded the program to the multi-family sector.
Two REITs and a real estate private equity firm are teaming up to develop a $158 million, 33-story, 850-bed student housing tower at Cira Centre South in Philadelphia’s University City section.
A University of Pennsylvania-owned site located at the corner of 30th and Chestnut Streets in Philadelphia’s University City district is being developed into a 33-story student housing tower in team effort between Brandywine Realty Trust, Campus Crest Communities and Harrison Street Real Estate Capital (HSRE).
Ackerman Medical represented the seller in the $18.9 million transaction of four buildings totaling 80,116 square feet, with Elliott Bay Capital Trust as main buyer.
The company is developing the speculative building on a 135-acre parcel within Gateway Commerce Center on behalf of Exeter Property Group.
Cardinal Point Management partnered with Halstatt Real Estate Partners in the $41.7 million purchase of Trade Centre South. New York Life provided funding for the transaction.
The project will feature 171 rooms in a 10-story building located within walking distance of the beach and less than 8 miles from Fort Lauderdale-Hollywood International Airport.
John Taylor, Drew Fuller, Josh Villarreal and Kyle Shaffer worked on behalf of the seller. Gateway Plaza had a 98.3 percent occupancy rate at the time of the deal.
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