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ATLANTA — Cousins Properties Inc. (NYSE: CUZ) has signed a 15-year build-to-suit lease with tech firm NCR Corp. (NYSE: NCR) to develop NCR’s $200 million world headquarters in Midtown Atlanta. Formerly based in the Atlanta suburb of Duluth in Gwinnett County, NCR’s new headquarters will be located within Tech Square, a multi-block campus of office buildings and retailers located on Spring Street near Georgia Tech. “We are thrilled to be working with NCR to build their world headquarters in Midtown Atlanta,” says Larry Gellerstedt, president and CEO of Cousins Properties. “This is an exceptional opportunity for Cousins to develop and own a cutting-edge, skyline-enhancing trophy tower in Atlanta’s leading technology district.” NCR has pre-leased 100 percent of the planned 485,000-square-foot office building. Cousins recently closed on the acquisition of the land at Centergy North, an office campus within Tech Square. “I have stated very publicly that NCR’s bold, ambitious move to establish a state-of-the-art world headquarters campus in Midtown is a critical first step in a larger goal to create a ‘Silicon Valley of the East’ right here in Atlanta,” says Bill Nuti, chairman and CEO of NCR. “We are currently advocating for other tech leaders and innovative companies to …

KEY WEST, FLA. — DiamondRock Hospitality Co. (NYSE: DRH) has acquired the fee simple interest in the 184-suite Sheraton Suites Key West hotel in Key West for $94 million, or $511,000 per guestroom. “We are very excited about our acquisition of this all-suites hotel, which represents our second acquisition in the highest RevPAR market in the United States,” says Mark Brugger, president and CEO of DiamondRock. “With 480-square-foot guestrooms, the hotel features some of the largest rooms in the market. The hotel is in excellent condition and features direct access to Smathers Beach, the largest and most popular beach in Key West.” DiamondRock is finalizing its plans to reposition and re-launch the hotel as an independent lifestyle resort. As part of the repositioning plan, the company is developing a $5 million capital plan to improve the arrival experience, lobby, pool and guestrooms. Renovations are expected to be minimally disruptive. The conversion to an independent hotel is expected to take place in late 2016 after initial upgrades are completed. Upon stabilization, the company expects to improve the hotel’s profit margins by approximately 500 basis points. By comparison, the Sheraton’s profit margins are currently almost 1,000 basis points lower than DiamondRock’s other …

BOSTON — HFF has secured $345 million in first mortgage and mezzanine financing for Charles River Plaza North, a 354,594-square-foot medical office/research building adjacent to and long-term leased by Massachusetts General Hospital (MGH) in Boston. HFF worked on behalf of the borrowers, The Davis Cos. and Marcus Partners Inc. — developers and owners of the property — to secure a $245 million, fixed-rate loan with UBS and a $100 million mezzanine loan with TIAA-CREF. Loan proceeds will be used to refinance an existing loan HFF arranged for the borrower in 2007. “[HFF is] extremely proud to be involved with such a world-class project that represents Boston’s strong presence in the field of medical research,” says HFF Senior Managing Director Riaz Cassum, who led the debt placement team representing the borrower. Charles River Plaza North is located at 185 Cambridge St. within the larger 630,000-square-foot Charles River Plaza mixed-use development adjacent to the MGH campus in Boston’s Beacon Hill neighborhood. The location is across the Charles River from the Massachusetts Institute of Technology and Harvard University, and an MBTA red line station is located approximately three blocks away. Completed by the current ownership in 2005, Charles River Plaza North is leased …

YOUNTVILLE, CALIF. — Ashford Hospitality Prime Inc. (NYSE: AHP) has closed on the acquisition of the leasehold interest in the Bardessono Hotel and Spa in Yountville, located 60 miles north of San Francisco, for $85 million. Ashford Prime completed the deal through a stock offering, cash, and $2 million in key money. Remington Lodging will manage the luxury property, which includes 62 rooms and suites. The purchase price represents an estimated 12-month capitalization rate of 5.2 percent on net operating income and an estimated forward 12-month EBITDA multiple of 16.5x. On a trailing 12-month basis as of May 31, the Bardessono Hotel and Spa achieved revenue per available room (RevPAR) of $554.01, with 81.9 percent occupancy and an average daily rate of $676.12, according to unaudited financial data provided by the undisclosed sellers. Yountville Investors LLC developed the property on land owned by the Bardessono family, according to The Press Democrat, a local newspaper based in Santa Rosa, Calif. “We are extremely excited to add this trophy asset to our portfolio,” says Monty Bennett, chairman and CEO of Ashford Hospitality Prime. “The award-winning Bardessono Hotel and Spa provides us with a foothold in Napa Valley, one of the strongest and …

BOSTON — Skanska USA has broken ground on a new 17-story office tower located at 121 Seaport Blvd. in Boston’s Seaport district. The New York-based developer and construction firm will invest $281 million of its own capital in the project. The Class A tower will feature two floors of retail space and two below-grade parking levels. Skanska USA is targeting LEED Platinum certification for the project, which will span roughly 400,000 square feet. The office building will be situated across the street from Seaport Square Green, a neighborhood park. Upon completion, tenants of the tower will have direct access to the Massachusetts Bay Transportation Authority (MBTA) Silver Line, a bus rapid transit system. Skanska expects to complete the office building in the first quarter of 2018. Skanska USA Building is the construction manager for the project. The construction firm indicates it will add a value of $150 million in order bookings for the third quarter of 2015. Skanska USA comprises four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. …

WILMER, TEXAS — Port Logistics Realty (PLR), a Texas-based real estate company, has begun construction on Phase 1 of Southport Logistics Park, a $500 million industrial project and one of the largest of its kind currently under development in the U.S. The project is a joint venture with Diamond Realty Investments (DRI), a wholly owned subsidiary of Mitsubishi Corp. During the initial development phase, PLR and DRI will invest $22 million for infrastructure including a 2.5 mile interior road system, subsurface utilities, underground electrical distribution and a self-contained water distribution system with an elevated water tower. When complete, the project will span 530 acres and 9 million square feet. “The activity surrounding South Dallas is a testament to both the North Texas region and the South Dallas submarket,” says Rob Huthnance, president of PLR Development. “We are investing in an infrastructure project that is unparalleled in scope and quality and will be a meaningful differentiator within the Inland Port area of South Dallas.” PLR will build five buildings totaling over 3.8 million square feet in Phase 1. The first two buildings, 1.1 million square feet and 400,000 square feet, respectively, are scheduled for completion in the third quarter of 2016. The …