Danyale Phillips

Danyale
Phillips
Articles
Wayne County Buys Detroit's Historic Guardian Building
Wayne County has made a historic move with the purchase of the landmark Guardian Building in downtown Detroit. The Wayne County Commission approved issuing
PROJECT AIMS TO CHANGE DYNAMICS OF DOWNTOWN HOUSTON
Downtown Houston is being transformed into a trendy hot spot with the arrival of a mixed-used development, the Houston Pavilions.
Changing Career Paths
Norman is one of a growing number of degreed professionals from other fields who are changing their career paths and heading back to the classroom to study commercial real estate
Milestone For Self Storage REIT Market
Last week, Extra Space Storage Inc. marked the one-year anniversary of acquiring Storage USA, the acquisition that boosted them to the second largest self-storage operator in the nation.
Industrial REIT Buys Atlanta Properties
ProLogis has expanded its Atlanta portfolio after acquiring four distribution centers and 115 acres of land. The distribution centers are worth about $60 million.
JV Sells Atlanta Office Park
Colonial Properties Trust (NYSE: CLP) and UBS Wealth Management have jointly sold a suburban Atlanta office park, the Colonial Center at Mansell Overlook. The joint venture generated $166.4 million through the sale of the office park.
Q & A
Sustainable design consultant Holley Henderson has been on the green bandwagon for nearly six years. A former EPA employee, Henderson now works as a sustainable
Hotel Developer Snags Plum Site
A Queens, N.Y.-based hotel developer has spent $6.75 million to buy a small midtown Manhattan parcel that’s ripe for hotel development. McSam Hotel Corp., which bought the 5,025 sq. ft. site from the Riese Organization, has the right to build a seven-story hotel property on the site.
Mixed-Use Waterfront Project Unveiled
Four developers have announced plans to build a 120-acre mixed-use project on an active shipyard in Hingham, Mass. The Hingham Shipyard project will include apartments, condominiums, restaurants, shops, waterfront parks, and office space. Construction is expected to begin by next spring. The total project cost was not disclosed.
Ten Figure Sum For Hotel Portfolio
A billion dollar hotel portfolio has traded hands. On Wednesday, RLJ Lodging Fund II formally acquired a 63-hotel portfolio for roughly $1 billion. Once the entire deal is closed over the next few months, RLJ will own additional hotels that will boost the entire portfolio value up to $1.7 billion. The seller is White Lodging Services Corporation and its affiliates.
L.A. Office Tower Sale
A Class-A Los Angeles office tower has fetched $50.5 million — and generated a 300% return for the seller. Last week, Los Angeles-based Younan Properties sold the 173,727 sq. ft. Sepulveda Center to KBS Realty. The 12-story glass high rise is only 2% vacant. CB Richard Ellis represented both the seller and the buyer on the transaction.
Chicago Towers Fetch $470 Million
Prudential Plaza, a pair of landmark Chicago skyscrapers, has sold for $470 million. The 2.2 million sq. ft. office campus was bought by BentleyForbes Group. The properties, which occupy an entire city block, are located in Chicago’s East Loop district.
$176 Million Hotel Loan Arranged
GE Real Estate has arranged $176 million in financing for Winston Hotels, Inc. Winston will use the 10-year, fixed rate loan to repay current debt and expand their business.
Manhattan Property Sale
A midtown Manhattan office building that’s ripe for a hotel conversion has sold for $26.5 million. The 87,447 sq. ft. Craftsman Building is 99% leased. Located between Penn Station and Grand Central Terminal, the building is leased by film, video and television productions, not-for-profit foundations, attorneys and business consultants.
Student Housing REIT Announces Development
Education Realty Trust Inc. has initiated construction on phase one of a $250 million initiative to replace approximately 3,500 beds of on-campus student housing at Indiana University of Pennsylvania in Indiana, Pa. Allen & O’Hara Development Company, a subsidiary to Education Realty Trust Inc. (NYSE:EDR), will lead the development of the new residential communities.
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