CNL Commercial Real Estate has a new name: Foundry Commercial
CNL Commercial Real Estate is now Foundry Commercial.
The Orlando-based commercial real estate firm has been planning to change its name ever since it spun out of its former parent company, CNL Financial Group, in September.
“We thought long and hard about a name that represents who we are and the future of our company before arriving at Foundry Commercial,” said Paul Ellis, CEO of Foundry Commercial. “The primary function of a foundry is to cast metal into purposeful shapes, which reminded…
Atlanta-based Oxford Properties plans to start construction in February on the next 200-unit phase of its CityPark View Apartments.
Last month, Oxford Properties paid $3.1 million to buy a 7.8-acre parcel for the project from Pope & Land Enterprises Inc., the developer of the mixed-use City Park site at the former Charlotte Coliseum property off Tyvola Road.
Oxford was the first mover at the long-dormant project, completing its 284-unit first phase at CityPark View in 2013. The multifamily firm…
McKibbon Hotel Group has developed urban hotel properties before, but none as challenging as the 22-story tower that’s about to rise above the EpiCentre in uptown Charlotte.
“This is probably the largest and most complicated so far,” says John McKibbon, chairman of McKibbon, which is partnering with local real estate firm Vision Ventures on the dual-branded, 300-room hotel tower.
The two firms are celebrating the start of construction on the development with a “sky breaking” reception…
Lincoln Harris’ acquisition of The Charlotte Observer’s uptown property has been pushed back, with the deal now scheduled to close on or before May 2, according to real estate records.
The Charlotte real estate firm had previously been scheduled to close on the Observer’s property by the end of October after agreeing in May to purchase the site, which totals more than 9 acres. The property is owned by The McClatchy Co.’s pension fund. The site includes the 361,000-square-foot Observer building,…
An Atlanta-based real estate investment firm has acquired The Vyne on Central, a 98-unit apartment complex in Plaza Midwood, for $14.2 million.
Whitaker Capital, which acquires and manages apartment communities throughout the Southeast, closed on the purchase last week. The property is located at the intersection of Central Avenue and Briar Creek Road.
Real estate firm 759 Ventures completed the second phase of the project in 2014, adding 65 units after buying the first 33-unit phase of Vyne, a…
Crescent Communities says it will start construction later this month on Crescent NoDa, a 344-unit apartment community at a planned light-rail stop in the eclectic neighborhood north of uptown Charlotte.
The project will include up to 7,500 square feet of street-level retail and will be located at the 36th Street Lynx Blue Line light-rail stop. Crescent successfully rezoned nearly 7 acres at the intersection of the planned Lynx Blue Line extension and East 36th Street in April, and the company purchased…
Allen Tate Co. had one of its best years in 2015, but CEO Pat Riley says he’s concerned about the lack of housing options for entry-level buyers and hopeful that new-home construction will continue to rebound and alleviate supply constraints.
Across its markets in the Carolinas, Allen Tate closed 21,595 home sales worth $5.16 billion in 2015, up from 19,716 sales worth $4.5 billion in 2014. It’s the first time the company has crossed the $5 billion mark since before the recession, when the company…
At a groundbreaking Wednesday for the Crescent Stonewall Station project, Jim Kwasnowski, a vice president with Crescent Communities, quoted architect and urban planner Daniel Burnham. “Make no small plans,” Kwasnowski said. “They have no magic to stir men’s blood.”
Crescent has big plans for its 5.4-acre site on Stonewall Street and celebrated the start of the mixed-use project with its partner, the Melissaris family, at the ceremony, which included a blessing from Father Theodore Ehmer…
The average vacancy rate for Charlotte apartment units dropped to 4.8% at the end of the fourth quarter, according to real estate research firm Reis Inc., down from 5.4% at the end of 2014, and the market’s effective rent grew by 5.6% to $883.19.
Of the 79 markets that Reis surveys, Charlotte ranked in the top 10 for 12-month effective rent growth and 12-month asking rent growth, with the latter also increasing by 5.6% in 2015. Charlotte also had the sixth-largest 12-month vacancy decrease in…
Crescent Communities has purchased the final piece of land for its Stonewall Station project.
Last week, the company acquired 1.7 acres on East Stonewall Street adjacent to the light-rail line for $13.25 million. Today, the firm is holding a groundbreaking ceremony for its mixed-use Stonewall Station project, which will be anchored by a Whole Foods Market. The Whole Foods will be connected to the light-rail line, with an entry point into the store from the light-rail station.
The 1.7-acre property,…