Northeast

Bleutech Park Las Vegas is a digital infrastructure city and the first of its kind in the world.

The Gladwyne, PA-based firm has purchased the Fox Chase Apartments, at 7922-36 Barnes St. and the Arendell Avenue Apartments, located at 4308 Arendell Ave. in Northeast Philadelphia, according to Rittenhouse Realty Advisors, which brokered the transaction.

The Loketch Group will complete a like-kind exchange with the proceeds of the sale primarily with development opportunities in Brooklyn.

Strong tenant demand has also caused rents to rise, with the overall average rent higher by 7.8% year-over-year, including 10 submarkets that record rent increases of more than 10% during that period.

As technology transforms the real estate industry, Mitchell joins the VC firm with a laser focus PropTech.

The REIT has sold its stake in the Benchmark Senior Living portfolio for $1.8 billion and is also acquiring a handful of facilities including 6-building, 270,000 square foot medical office campus for $140 million from Summit Medical Group.

The financing package consisted of six new Freddie Mac Value Add Green Advantage loans, five loan assumptions from Fannie Mae and $40 million in equity over the entire portfolio.

Designers are finding new ways to integrate technology and technology-friendly spaces into new healthcare facilities.