REBusinessOnline

Wells Fargo Provides $238M Refinancing for Howard Hughes Corp.’s Ward Village in Honolulu

Wells Fargo Provides $238M Refinancing for Howard Hughes Corp.’s Ward Village in Honolulu

HONOLULU — An affiliate of Wells Fargo & Co. (NYSE: WFC) has completed the $238 million refinancing of maturing debt for Ward Village, a 60-acre urban master-planned development underway in Honolulu. The Howard Hughes Corp. (NYSE: HHC) is the master developer of Ward Village, which features three condominium towers under construction. Upon completion, Ward Village will comprise 4,000 residences and 1 million square feet of retail and restaurant space. The development is situated between downtown Honolulu and Waikiki in the Kak’ako district. Ward Village is the only project in Hawaii to receive LEED Platinum certification for neighborhood development (LEED-ND) and the largest one in the United States to receive LEED-ND Platinum..

| , , ,
AIA’s Latest Architecture Billings Index Slips for First Time Since January

AIA’s Latest Architecture Billings Index Slips for First Time Since January

WASHINGTON, D.C. — Following six months of increasing demand for design services, the Architecture Billings Index (ABI) slipped below the positive mark for August, reflecting a decline in demand for design activity at architecture firms. The American Institute of Architects (AIA) reported the August ABI score was 49.7, down from the mark of 51.5 in July. The score reflects a decrease in design activity, with any score above 50 indicating an increase in billings. “This is only the second month this year where demand for architectural services has declined and it is only by a fraction of a point,” said Kermit Baker, AIA’s chief economist. The new projects inquiry index was 61.8, up from a reading of 57.5 the previous month...

| ,
Boyd Gaming Acquires Aliante Casino Hotel and Spa in Las Vegas for $380M

Boyd Gaming Acquires Aliante Casino Hotel and Spa in Las Vegas for $380M

NORTH LAS VEGAS, NEV. — Boyd Gaming Corp. (NYSE: BYD) has completed the acquisition of ALST Casino Holdco LLC, the holding company of Aliante Casino Hotel and Spa. Boyd bought the property for $380 million, according to the Las Vegas Sun. Aliante is Boyd Gaming's first casino property in North Las Vegas, and its 10th property in the Las Vegas Valley. The company now owns and operates 22 casino properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. "As the premier gaming asset in North Las Vegas, Aliante provides a tremendous opportunity to participate in the long-term growth of the northern part of the Las Vegas Valley," says Keith Smith, president and CEO of Boyd Gaming. Aliante opened in November..

| , , , ,
Medical Properties Trust to Acquire Nine Acute Care Hospitals in Massachusetts for $1.25B

Medical Properties Trust to Acquire Nine Acute Care Hospitals in Massachusetts for $1.25B

BIRMINGHAM, ALA. — Birmingham-based Medical Properties Trust Inc. (NYSE: MPW) has agreed to invest $1.25 billion in Steward Health Care System LLC through the sale-leaseback of nine acute care hospitals operated by Steward, and through the acquisition of a limited equity stake in the company. The transaction includes $1.2 billion for the hospital real estate and a $50 million equity investment in Steward. Properties in the sale-leaseback include Saint Anne's Hospital in Fall River, Mass.; Holy Family Hospital at Methuen in Methuen, Mass.; Holy Family Hospital at Haverhill in Haverhill, Mass.; Carney Hospital in Dorchester, Mass.; Norwood Hospital in Norwood, Mass.; St. Elizabeth's Medical Center in Brighton, Mass.; Good Samaritan..

| , , ,

New Projects

Sales & Leases

>
>
>
>