REBusinessOnline

Americold Acquires Cold Storage Owner Agro Merchants Group for $1.7B

ATLANTA AND SCHIPHOL, NETHERLANDS — Americold Realty Trust (NYSE: COLD) has agreed to acquire Agro Merchants Group, a privately held cold storage warehouse owner based in The Netherlands, for $1.74 billion. Atlanta-based Americold entered into the agreement with Agro Merchants’ owner, an investor group led by funds managed by Los Angeles-based Oaktree Capital Management LP. The move will give Americold its first cold storage properties in Europe.Agro Merchants, which has its North …

Acquisitions, Company News, Georgia, Industrial, Southeast, Top Stories

Universal Music, Dakia U-Ventures Plan $1.2B Entertainment Destination in Biloxi

BILOXI, MISS. — A joint venture between California-based Universal Music Group (UMG) and hospitality investment firm Dakia U-Ventures has unveiled plans for a $1.2 billion hotel and music-themed entertainment destination in the coastal Mississippi city of Biloxi.The new development will be the first of the joint venture’s UMUSIC Hotels, with additional locations coming to Atlanta and Orlando. Each hotel and entertainment district is designed to educate guests on the city’s musical …

Development, Hospitality, Mississippi, Southeast, Top Stories

Ruby Tuesday Files for Chapter 11 Bankruptcy Protection, Closes 185 Restaurants

MARYVILLE, TENN. — Ruby Tuesday Inc. has filed for Chapter 11 bankruptcy protection with plans to permanently close 185 restaurants that were shuttered during the COVID-19 pandemic. The company’s 236 open locations will remain operational throughout the reorganization process. The Maryville, Tennessee-based chain is the latest restaurant group to fall victim to the economic pressures caused by the coronavirus pandemic. California Pizza Kitchen filed for Chapter 11 protection in July …

Company News, Restaurant, Retail, Southeast, Tennessee, Top Stories

Centurion American Breaks Ground on $300M Mixed-Use Development in Metro Dallas

NORTH RICHLAND HILLS, TEXAS — Centurion American Development Group has broken ground on City Point, a 52-acre mixed-use development in the Dallas suburb of North Richland Hills. Development costs were not disclosed, but D Magazine reports it will cost the Farmers Branch, Texas-based developer $300 million.City Point will comprise 400 to 600 multifamily units, 60,000 square feet of commercial space, a trail system, outdoor greenspace and 366 single-family homes, including bungalows and …

Development, Mixed-Use, Texas, Top Stories

Pinewood Atlanta Studios Rebrands, Unveils 935-Acre Master Development

ATLANTA — Pinewood Atlanta Studios, home of blockbuster films such as Avengers: Endgame, has rebranded as Trilith Studios and unveiled a new 935-acre master development in South Atlanta. The project includes the studio as well as businesses, custom homes, “micro villages,” restaurants and schools, all aimed at servicing the film and creative industries.Plans call for more than 220,000 square feet of new spaces on the campus, including a “Creative Office Centre” designed to house …

Development, Georgia, Mixed-Use, Southeast, Top Stories

Welltower Sells $1.3B of Seniors Housing and Outpatient Medical Facilities; CEO Steps Down

TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has sold three separate portfolios totaling $1.3 billion in value. The portfolios comprise 11 seniors housing facilities in the Western United States, six seniors housing communities in Massachusetts and 20 outpatient medical facilities across five states.Separately, Welltower also announced on Monday a strategic personnel change in the C-suite as the Toledo-based REIT promoted Shankh Mitra from chief operating officer to CEO effective …

Acquisitions, Healthcare, Midwest, Ohio, Seniors Housing, Top Stories

Regal Cinemas to Temporarily Suspend All U.S. Theater Operations Beginning Oct. 8

KNOXVILLE, TENN. — Regal Cinemas will temporarily suspend operations at all of its 536 U.S. theaters beginning Thursday, Oct. 8.British owner-operator Cineworld (LON: CINE) owns Knoxville, Tenn.-based Regal Cinemas, which has about 7,000 screens across its U.S. portfolio of theaters. Cineworld also announced plans to close all of its theaters in the United Kingdom this week. The closures will impact about 40,000 employees, according to Cineworld.“This is not a decision we made …

Company News, Retail, Southeast, Tennessee, Top Stories

Southwest Value Partners Opens 591-Room Grand Hyatt Hotel Within Nashville Yards

NASHVILLE, TENN. — Southwest Value Partners has opened Grand Hyatt Nashville, a 25-story, 591-room hotel located within the 18-acre Nashville Yards development in downtown Nashville.The hotel features a signature restaurant from James Beard Award-winning chef Sean Brock; a rooftop lounge; a fifth-floor "wellness level" that includes a fitness center, pool overlooking downtown and spa; and 77,000 square feet of event and pre-function space, including a 20,000 square-foot grand …

Development, Hospitality, Southeast, Tennessee, Top Stories

Fallon, Inlivian to Develop 1.4 MSF Centre South Mixed-Use Project in Charlotte

CHARLOTTE, N.C. — The Fallon Co. and Inlivian have unveiled plans for Centre South, a 1.4 million-square-foot mixed-use development in Charlotte’s South End neighborhood.The 16.2-acre site will feature 330,000 square feet of office space, a hotel, 750 residential units and 145 affordable housing units. The developers expect to break ground on Phase I, which will comprise 310,000 square feet of office space, in 2021.The project was formerly named Strawn Cottages and announced in …

Development, Mixed-Use, North Carolina, Southeast, Top Stories

Urban Visions, Mitsui Fudosan America Plan 36-Story Office Tower in Downtown Seattle

SEATTLE — Urban Visions and Mitsui Fudosan America Inc. have unveiled plans for The Net, a 36-story, 812,000-square-foot office tower in Seattle’s central business district.The joint venture purchased the half-block site on Third Avenue for $127.7 million, according to the Puget Sound Business Journal. Gerry Rohm and Logan Greer of JLL Capital Markets arranged the joint venture partnership for the development.Designed by Urban Visions and architectural firm NBBJ, the Class A tower …

Development, Office, Top Stories, Washington, Western
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Lee & Associates
RED Mortgage Capital
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