The deal for 302 West Third marks Time Equities' third acquisition in the Tri-State Region over the last two years. Other notable regional acquisitions include Brookside Industrial Park in Indianapolis and the Arbor at Montana Apartments in Cincinnati.
More than 35 responses to the RFQ were received in December 2019. The development opportunity marks the only time since 2004 that PIDC has offered exclusive development rights and the first time that mixed-use multifamily development will be allowed at the Navy Yard.
MacKay joined Cushman & Wakefield's board of directors in 2018. She was most recently a senior advisor to iStar, a New York City-based investment REIT that finances, invests in and develops real estate and real estate related projects.
The restructuring program includes a reorganization and simplification of its field operations, significant reduction in management positions across the business and outsourcing of several functions.
The FTC complaint alleges that, as a result of the merger, the parties would control at least 60% of the inpatient GAC hospital services market in and around North Philadelphia, and at least 45% of that market in and around Montgomery County.
Officials affiliated with the Parkview Apartments project report that groundbreaking for the venture will proceed this week on the two seven-story buildings adjacent to Berry Lan Park in the Lafayette section of Jersey City.
Built in the early 1930s, Hinchliffe Stadium, one of the last remaining Negro League ballparks and a later site for high school sports, has been vacant for more than two decades and has suffered extensive neglect and deterioration.
Other positive metrics for the firm were net signed contract units were 1,806, up 31%; the contract value was $1.49 billion, up 28% and backlog units at the end of the first-quarter 2020 were 6,461, up 9%.