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Florida-based Robbins Electra acquired the 408-unit Pavilion Crossing in Charlotte as its latest value-add play. The buyer did not specify the sale price, but it is planning $3.6M in upgrades to the multifamily property. 
“Our investment strategy to be overweight in Charlotte has its roots in fundamentals — job growth and population growth,” Robbins Electra CEO Joe Lubeck said. With this deal, the company owns eight apartment properties in the Charlotte market, totaling about 2,100,…
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Omni Charlotte Begins $26M Reinvention
The Omni Charlotte Hotel is the latest to become a more experiential property, kicking off a $26M redevelopment last week that will reimagine both the common areas and the rooms. Moncur Design Associates Inc. and CT + C Design Studio are…
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Work Starts On Yet Another Apartment Development Near The Blue Line Extension
Developer The NRP Group has started work on its long-planned 309-unit project at Parkwood Avenue and Brevard Street, calling the property Parkwood Station, after the nearby future Blue Line light rail station. NRP Group just closed on the 3.5-acre site, paying…
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Hospitality Embracing Modular Construction To Counter Rising Costs, Gain Better QualityModular units are becoming more common in construction projects nationwide as developers seek the speed-to-market and consistent quality they can offer. But there are still challenges to using modular construction, which has meant some CRE sectors were slower to adopt it than others. Now may be the time for modular to shine in hotel construction. Marriott International made news last week when it announced plans to focus on modular units at its North American hotels. As part of the initiative, the hotel chain set up a demonstration in LA of individual, fully furnished hotel rooms built using modular construction technology. |
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The Last Stand: 6 Real Estate Holdouts That Drove Developers MadThe Chinese have a special name for real estate holdouts. A nail house refers to a property within an area where developers want to build a new project, but owners refuse to sell, like a nail stuck in wood. Love them or hate them, here are some of the most iconic real estate holdouts in recent history. This 16-story building is easily recognizable by the Hanshin Expressway on-ramp within (yes, within) the tower. In the early 1980s, redevelopment of the property was approved by the city but building permits stalled because the highway was in planning. Property rights holders negotiated with Hanshin Expressway's developers for five years before agreeing to jointly develop the Gate Tower Building and the highway. |
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We're Looking For A New Head Of Sales!
Bisnow Media is seeking an energetic, enthusiastic and metric/results-oriented head of sales to lead a team of passionate sales professionals through the next phase of Bisnow's growth. The head of sales will report directly to the CEO and chief operating officer, will be a part of the senior management team and must work in New York City. What The Role Entails: * Managing a team of 25 sales people, including three to five vice presidents who report directly to the head of sales, 15 sales reps and five account managers. * Implementing a robust training program for all sales reps and account managers across the country that covers: Bisnow's existing and new products, the commercial real estate/B2B media industries, and Salesforce utilization and compliance. * Developing a sales strategy within 90 days of start date aimed at geo-adapting the success Bisnow has had in many other markets, with the goal of doubling booked sales in 2.5 years. * Recruiting new sales talent in new and existing markets and consistently evaluating the performance of the existing sales team. * Building the systems and processes necessary to successfully execute on the strategy outlined within 90 days of start date. Think you've got what it takes, or know a rock star who does? Send that résumé to nicole.caracci@bisnow.com. We are offering a $5K referral fee if we hire somebody you refer.
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