IPA Promotes Weston to Executive Director

15 Jan

Institutional Property Advisors (IPA), a division of Marcus & Millichap serving major private capital investors, has promoted Stewart Weston to executive director, IPA. Most recently a senior director with the firm’s Irvine, CA office, Weston will partner with Christopher Zorbas and Alexander Garcia Jr., both senior directors of IPA, to cover Southern California markets including Orange County, San Diego and Inland Empire. “Stewart continues…

Stater Bros. Grocery Chain to Open Four Southern California Stores

15 Jan

Expanding in a fierce Southern California grocery market where such competitors as Haggen and Fresh and Easy have closed their doors, Stater Bros. plans to open four new stores in the coming year in Southern California. The 70-year-old Colton, CA-based grocery chain recently broke ground on a store that will anchor The Shoppes at Menifee Lakes, opening this summer in Menifee, CA, in Riverside County, and is also beginning working on a 44,000-square…

U.S. Apartment Rents Decline in Fourth Quarter, Bucking Annual Trend

8 Jan

In a surprise finding to the end of the year, U.S. apartment rents posted one of the weakest fourth quarters since the end of the most recent recession, according to the latest analysis of the U.S. multifamily market by CoStar Group. In the first six months of 2015, U.S. apartment rents grew at an annualized rate of 9.4%, per CoStar’s same-store analysis of more than 50 million rent observations. The growth rate slowed to just 2.7% in the second…

CoStar’s People of Note (Dec. 31)

31 Dec

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Seattle, San Diego, Charlotte, Detroit / Grand Rapids, Cincinnati, Los Angeles, South Florida, and the Greater Toronto Area. SEATTLE NAI Puget Sound Taps Coombs as President By Phyllis Judeika Scott Coombs has joi

CoStar’s People of Note (Dec. 18)

18 Dec

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Chicago, Los Angeles, Minneapolis, New York City, Baltimore, South Florida, Toronto, Memphis, Phoenix / Tucson, Charlotte, Orange County, and Nashville. CHICAGO Cushman & Wakefield Taps Browne as President, CSD By Bryce Meyers

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Desert Hot Springs Resort & Spa Sold for $15.6M

16 Dec

CCL Holdings Ltd. purchased the Two Bunch Palms Resort & Spa at 67520-67645 Two Bunch Palms Trail in Desert Hot Springs, CA from TBP Real Property Holding Company LLC for $15.6 million, or about $223,000 per room. The hospitality buildings, located on a 75-acre parcel, total 54,000 square feet. The resort was built in 2014 and features 70 guest rooms, a swimming pool and tennis courts. Harry Pflueger of Maxim Hotel Brokerage represented the…

CoStar’s People of Note (Dec. 11)

11 Dec

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Richmond / Hampton Roads, Washington DC, New York City, Alabama, Baltimore, Portland, Vancouver / Calgary, Orange County, Boston, Denver, South Florida, and Northern New Jersey. RICHMOND / HAMPTON ROADS Warfield Named New CEO of C&W | Thalhimer By Trey Kern

CoStar’s People of Note (Dec. 4)

4 Dec

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Dallas / Fort Worth, Chicago, Northern New Jersey, Detroit / Grand Rapids, Boston, South Florida, Cincinnati, Tampa / Saint Petersburg, Milwaukee / Madison, Austin, Philadelphia, New York City, and Minneapolis. DALLAS / FT. WORTH Colliers Names Everbach President,…

Blackstone, Phoenix Realty JV Close on $570M Multifamily Portfolio

23 Nov

New York-based Phoenix Realty Group (PRG) has recapitalized a 16-property multifamily portfolio encompassing 3,800 units and development sites located in Southern California, Colorado and Florida with Blackstone’s latest real estate fund, Blackstone Real Estate Partners VIII. Two closed-end private equity funds managed by PRG sold the portfolio for approximately $570 million. PRG acquired the assets over the course of 2010 and 2011. PRG is a national…

CoStar’s People of Note (Nov. 20)

20 Nov

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: South Carolina, New York City, Houston, Indianapolis, Atlanta, Philadelphia, Minneapolis, Washington DC, Chicago, Dallas / Ft. Worth, Alabama, and Detroit / Grand Rapids. SOUTH CAROLINA EDENS Names Wyant COO By Shanice Alexander EDENS