David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
DENVER—Holland Partners Group, Vancouver, has secured a $38 million loan to fund the purchase of Monterey Heights, a 332-unit garden-style complex in suburban Denver. The complex is 93 percent occupied.
LOS ANGELES—Transwestern has added a Structured Finance group to its Los Angeles office. Heading up the firm's new group are Steven Orchard and Michelle Lee.
LAS VEGAS, NV—The newly-renovated Tropicana Las Vegas, now a DoubleTree by Hilton, opened today. Improvements totaling $200M include 1,500 newly renovated guest rooms and suites, four restaurants, a spa, an entertainment complex.
GARLAND—AVG Partners acquired the 85,000-square-foot Shiloh Square Shopping Center, .Terms of the sale were not disclosed, but the Dallas Central Appraisal District valued the property at $6 million.
FORT WORTH—Investors have purchased Hulen Fashion Center, a 181,000-square-foot retail center near the city's Hulen Mall. The group bought the property with the help of a $7.17 million loan.
SAN DIEGO—Construction has begun on the third phase of the County Operations Center and Annex redevelopment, according to the project's developer, Lowe Enterprises. The 118,500 square foot Registrar of Voters Headquarters will be built to LEED standards, and the price tag is an estimated $73 million
BEVERLY HILLS, CA—Kennedy Wilson has added to the existing financing on the 615-unit multifamily complex acquired in 2010. Financing on Summer House now totals $90.2 million.
San Carlos—Local officials on Monday considered a proposal for a new mixed-use development that would include 280 apartments, but the approval process will have to continue later this month. The sticking point is an environmental report on traffic and other possible impacts.
San Mateo—JB Matteson Companies has purchased a Seattle-area apartment complex for $28.2 million. The acquisition of Langara, a 134-unit apartment property in Issaquah, Wash., is part of an ongoing West Coast shopping spree for the San Mateo-based firm.
DALLAS—Mill Creek Residential Trust has partnered with Sarofim Realty Advisors to build a new 208-unit residential complex. The six-story apartment development will replace a recently demolished building at North Central Expressway and Hester Street.