Blake Investment Partners and Related Group have agreed to pay the city of St. Petersburg $275 million for the rights to build an expansive mixed-use project on city-owned land. The two were the winning bidders for the 58 acres in the Historic Gas Plant District.
Dubbed The Burg Bid, the team’s proposal includes a mix of housing, hotels, office, retail, a park, museums and centers for workforce training and small business startups, that would be built over approximately 15 to 20 years in three phases. If all the plans were realized, the project could be worth over $8 billion at completion.
Other local and national firms working on The Burg Bid proposal include architectural firms Wannemacher Jensen Architects and Zyscovich (now known as Stratus), Skanska, Gilbane, KAST Construction and Greystar Real Estate Partners.
The plans still require final approval by the City Council.
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
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Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
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