Balfour Beatty Communities reports it will perform property management services at Ridgeland Place and will invest in a number of capital improvements at the property.
The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.
The deal for the 372-unit building reported by Holliday Fenoglio Fowler, L.P. marks Equity Residential's return to the Denver multifamily sector since its exit in January 2016.
Demand from large cloud users resulted in more data center leasing activity in Northern Virginia in the first half of 2018 than the rest of the primary data center markets combined, according to CBRE's latest U.S. Data Center Trends report.
As office space shrinks, the tech performance of the space becomes more important, i.e., dedicated Internet access, connectivity to private cloud networks and secure connection to offshore centers.
Marx Realty's purchase of Lower East Side buildings at 135 and 161 Bowery demonstrates a continued demand in the neighborhood by creative and tech industry tenants.