Tony Wilbert, CoStar News
It was fun to break this news and watch others follow CoStar News.
By Tony Wilbert, CoStar News
Madison Marquette and PMRG are in definite talks to merge their firms.
Madison Marquette provided the following statement to CoStar News: "Madison Marquette, one of the nation's leading privately held commercial real estate investment and operating companies, and PMRG, one of the nation's premier privately held commercial real estate firms specializing in project leasing, property management, investment management and development services, confirmed today that they are in discussion to merge operations. Closing is anticipated in the next 30 days."
Great international scoop from Garry Marr of CoStar News.
By Tony Wilbert, CoStar News
Click here for full story; see preview below.
Investors are snapping up creative offices and retail spaces in Atlanta's intown neighborhood, and they are paying previously unheard of prices for the Class B product.
In the latest example, Mimms Enterprises acquired Lumberyard Office Lofts, a 67,808-square-foot office complex at 1425 Ellsworth Industrial Dr. in Atlanta's Northside Drive/Georgia Tech - also known as Chattahoochee Industrial - submarket. Based on information in the state of Georgia real estate transfer tax declaration, Roswell, GA-based Mimms paid $13.97 million, or $206 per square foot, for the Class B property built in 2001.
For full story, click here.
Deal would be one of the largest-ever office sales in Los Angeles County history.
Click here for the full scoop from CoStar News Los Angeles market reporter Jacquelyn Ryan.
By Tony Wilbert, CoStar News (For full story on CoStar.com, click here.)
Airbnb's expansion into the hotel business has prompted plans for Atlanta's first boutique lodging geared solely toward travelers who book short stays online.
RCC, LLC of Atlanta has filed plans to develop a nine-story, boutique hotel with 98-110 keys in Atlanta's Old Fourth Ward. The hotel would be designed specifically to attract Airbnb users. RCC's representative John Schiavone heads Catholic Construction Services, and as such, is the director of real estate for the Roman Catholic Archdiocese of Atlanta. It is unclear exactly what role the Catholic Church would play in the planned development.
For full story on CoStar.com, click here.
David Stockert, who replaced John Williams as CEO of Post Properties, could have held a grudge against Williams for trying to oust Stockert shortly after he took the reins of the multifamily REIT. But Stockert did not, and he continues to acknowledge the transformational role Williams played in the national apartment market. Williams, was was CEO of Preferred Apartment Communities, died suddenly on April 16, 2018.
Read the story here; from +CoStar Group.
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