Property Type

Caesar’s Entertainment Begins $160M Transformation of Harveys Lake Tahoe Casino, Hotel in Nevada

by John Nelson May 1, 2025

STATELINE, NEV. — Caesar’s Entertainment (NASDAQ: CZR), a gaming and casino giant based in Reno, has begun the $160 million transformation of Harveys Lake Tahoe, a 1.6 million-square-foot hotel and casino located in Stateline. The redevelopment project will feature upgrades, accommodations, elevated dining and gaming options and a new contemporary design. Beginning July 1, the resort will operate as Caesars Republic Lake Tahoe Hotel & Casino. “This transformation honors the storied history of Harveys while introducing modern amenities and elevated experiences that will redefine luxury in Lake Tahoe,” says Karie Hall, senior vice president and general manager of Harrah’s and Caesar’s Republic Lake Tahoe. The 88,000-square-foot casino floor at Caesars Republic Lake Tahoe will be reimagined with fresh carpeting, lighting, tables, chairs and digital displays, while also including new slot machines, a high limit room and a World Series of Poker room. The lobby will also be redesigned. The resort’s towers, Remus Tower and Romulus Tower (formerly Mountain Tower and Tahoe Tower), will also be improved. All rooms in the Remus Tower will be remodeled, while Romulus Tower will receive a refresh after previously being fully redesigned in 2020. Additionally, butler service for select suites will be available for both hotels. …

May 1, 2025

Conference Coverage Features Multifamily Student Housing

InterFace Power Panel Discusses Student Housing Sector Resilience Amid Tariff Fears, Potential Economic Slowdown

by Taylor Williams May 1, 2025

By Katie Sloan AUSTIN, TEXAS — The 17th annual InterFace Student Housing conference, held April 9-11 at the JW Marriott in Austin, Texas, saw more than 1,500 student housing industry executives gather for educational sessions and networking. The conference’s first full day kicked off on April 10 with the ‘Power Panel,’ which brought together a group of high-level executives from several of the top companies in the sector to discuss their outlook for the year ahead. Moderator Peter Katz, executive managing director with Institutional Property Advisors, began the discussion by highlighting a few growing concerns in the current economic environment. Chief among them were the potential impact of global tariffs on equity and development in student housing and the possibility of an economic slowdown or even an impending recession. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Still, the student housing sector has proven time and time again that it is a resilient asset class. “If we look back at the global financial crisis and COVID-19 pandemic, we’ve witnessed that the student housing sector is pandemic- and recession-resistant,” said Katz. “Institutional …

May 1, 2025

Acquisitions Multifamily Texas

Altus Equity Group Buys 1,225-Unit Multifamily Portfolio in Odessa, Texas

by Taylor Williams April 30, 2025

ODESSA, TEXAS — Altus Equity Group, an investment firm with offices in Texas, South Carolina and California, has purchased a portfolio of six multifamily properties totaling 1,225 units in the West Texas city of Odessa. Altus acquired the garden-style properties, which had a collective occupancy rate of 92 percent at the time of sale, in partnership with Wellings Capital. Drew Garza led the team at Institutional Property Advisors (IPA), a division of Marcus & Millichap, that brokered the sale of the portfolio. Rocco Mandala led the CBRE debt placement team that originated acquisition financing for the deal. The seller was not disclosed.

April 30, 2025

Acquisitions Multifamily Texas

IPA Negotiates Sale of 256-Unit Woodlands Apartments in Tyler, Texas

by Taylor Williams April 30, 2025

TYLER, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Woodlands, a 256-unit apartment complex located in the East Texas city of Tyler. Built in 1984, the property offers one- and two-bedroom units and amenities such as fitness and business centers, a pool and package lockers. Taylor Hill, William Hubbard, Drew Kile, Joey Tumminello and Michael Ware of IPA represented the seller, BH Equities, in the transaction and procured the buyer, Clover Capital Partners. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets originated an undisclosed amount of agency acquisition financing for the deal that was structured with a seven-year term and fixed interest rate.

April 30, 2025

Acquisitions Office Texas

BH Properties Acquires 205,293 SF Office Complex in Southwest Austin

by Taylor Williams April 30, 2025

AUSTIN, TEXAS — California-based investment firm BH Properties has purchased The Park on Barton Creek, a 205,293-square-foot office complex in southwest Austin. Built in 2007, The Park on Barton Creek consists of two buildings on a 16.5-acre site with separate 426-space parking structures. The property recently underwent a $1.3 million capital improvement program that enhanced the lobby and added both a tenant lounge and conference center. Ryan Stevens and Drew Fuller of JLL brokered the sale of the property. The seller was not disclosed.

April 30, 2025

Development Healthcare Office Texas

Tannos Development Completes 106,000 SF Office, Healthcare Building in Friendswood, Texas

by Taylor Williams April 30, 2025

FRIENDSWOOD, TEXAS — Locally based firm Tannos Development Group has completed construction of a 106,000-square-foot office and healthcare building in Friendswood, a southeastern suburb of Houston. The four-story building is located at 1715 S. Friendswood Drive and had a total price tag of $23 million. University of Texas Medical Branch (UTMB) has leased the entire fourth floor of the building to house its primary and specialty care practices. The building also houses an onsite pharmacy and an expanded imaging suite that includes two radiology rooms and ultrasound capabilities.

April 30, 2025

Leasing Activity Oklahoma Retail Texas

Trader Joe’s Signs 16,975 SF Retail Lease in Northwest Oklahoma City

by Taylor Williams April 30, 2025

OKLAHOMA CITY — Trader Joe’s has signed a 16,975-square-foot retail lease in northwest Oklahoma City for its first grocery store in the state capital and fourth in the state. The space is located within the 155,000-square-foot Rockwell-Northwest Shopping Center, and Trader Joe’s will join Hobby Lobby and Burlington as the center’s anchor tenants. Tom Blanton with Blanton Property Co. represented the California-based grocer in the lease negotiations. Elise Lopez and Jim Martin internally represented the landlord, JAH Realty. A tentative opening date has not yet been determined.

April 30, 2025

Affordable Housing Development Loans Multifamily New York Northeast

Hudson Cos., BRP Receive $343M in Financing for South Bronx Affordable Housing Project

by Taylor Williams April 30, 2025

NEW YORK CITY — A partnership between locally based owner-operators, The Hudson Cos. and BRP Cos., has received $343 million in financing for Phase II of La Central, a multifamily project in the South Bronx that will add 420 affordable and supportive housing units to the local supply. The second phase will encompass Building C (166 units) and Building E (254 units), which will rise 13 and 26 stories, respectively, and house one-, two-, three- and four-bedroom units that will be reserved for households earning between 30 and 80 percent of the area median income. In addition, Phase II, which is slated for a 2028 completion, will include 1,567 square feet of commercial space, 13,000 square feet of community space and 7,134 square feet of public garden space. Building C will be constructed to meet Passive House standards, operating entirely on electricity to eliminate carbon emissions, while Building E will be built to achieve LEED Gold certification. Following completion of Phase II, La Central will comprise more than 1,000 units across five buildings. Buildings A and B, which opened in 2021, house nearly 500 affordable apartments between them, and Building A is also home to a YMCA. Building D, completed …

April 30, 2025

Acquisitions Multifamily New Jersey Northeast

Tishman Speyer Buys Northern New Jersey Apartment Building for $96.1M

by Taylor Williams April 30, 2025

MONTCLAIR, N.J. — New York City-based real estate giant Tishman Speyer has purchased Two South Willow, a 200-unit apartment building located in the Northern New Jersey community of Montclair, for $96.1 million. Completed in 2021, Two South Willow consists of 180 market-rate units and 20 affordable housing units in studio, one- and two-bedroom floor plans. Amenities include a fitness center, roof deck, resident lounge, interior courtyard and barbecue grills. Tishman Speyer plans to undertake a series of targeted enhancements to the lounge, roof deck, common areas and mechanical systems, as well as to re-orient the lobby and add a coworking lounge and pet washing station. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE represented the undisclosed seller in the transaction.

April 30, 2025

Connecticut Development Loans Multifamily Northeast

JLL Arranges $41.5M Construction Loan for Multifamily Project in Stonington, Connecticut

by Taylor Williams April 30, 2025

STONINGTON, CONN. — JLL has arranged a $41.5 million construction loan for Stonington Village, a 160-unit multifamily project in southern coastal Connecticut. Stonington Village will consist of six buildings, including a clubhouse, pool and parking facilities. Units will come in studio, one-, two- and three-bedroom floor plans, including an affordable housing component, and the development will feature approximately 10,000 square feet of ground-floor retail space. Henry Schaffer and Madeline Joyce of JLL arranged the five-year, fixed-rate loan through Liberty Bank on behalf of the locally based developer, READCO. Completion of the first phase of construction is slated for 2027.

April 30, 2025

Newer Posts

Older Posts