Commercial real estate
* Richard Branson's Virgin Hotels plans to build a 40-story hotel with a co-living component in the Brickell neighborhood of Miami, The Real Deal reported, citing AFAR. The Miami-based company is joined by Blue Jay Capital, which will purchase the nearly 250-key hotel at 1040 South Miami Ave. The residential component will comprise 150 micro and co-living units across 15 stories. Construction of Virgin Hotels Miami is expected to begin in 2020, with completion slated for 2023.
* Toll Brothers Inc. is planning to build a two-building, 220-unit mixed-use apartment complex in Santa Ana, Calif., Urbanize Los Angeles reported. Dubbed 4th + Main, the development will comprise five- and seven-story buildings on 114 and 117 E. 5th St., with 12,350 square feet of commercial space and parking for 332 vehicles.
* Developer Flexible PSH Solutions filed plans for a 454-unit permanent supportive housing development in Rampart Village, Los Angeles, The Real Deal reported, citing records. The first phase of the project, called Enlightenment Plaza, will comprise 100 units in two buildings. The development site is on Beverly Boulevard between Juanita and Madison avenues.
* A Blackstone Real Estate Income Trust Inc. affiliate was revealed as the buyer of Hyatt Regency-Atlanta hotel, the Atlanta Business Chronicle reported, citing Fulton County property records. Hyatt Hotels Corp. did not name the buyer when it disclosed the about $355 million sale deal earlier in September.
* The TJX Cos. Inc. purchased a 450,000-square-foot office building near its headquarters in Framingham, Mass., for $120 million, Bisnow reported, citing a deed filed in Middlesex County. Meditech sold the building at 550 Cochituate Road, which it purchased for $58.3 million 24 years ago.
* Bell Partners Inc. paid $96 million for the 243-unit 3040 Apartments multifamily community in Redmond, Wash., the Puget Sound Business Journal reported. The property will be renamed Bell Overlake.
* Nuveen Investments purchased the 216-unit Flux Apartments at 2838 Fremont Ave. in Minneapolis for $54 million from an affiliate of AFL-CIO, the Minneapolis / St. Paul Business Journal reported, citing a certificate of real estate value.
* Endeavor Real Estate Group Ltd. is planning to build the roughly 10-acre development Gates District at Broadway Station in Denver, which will comprise 887 residential units, 380,000 square feet of office space, and 180,000 square feet of retail and restaurant space across five buildings, the Denver Business Journal reported. Construction on the first phase of the project is expected to begin in the second quarter of 2020 and is expected to be complete in about two years.
* Brandicorp, Neyer Properties and Casto received approval from the city of Montgomery, Ohio, for the $150 million Montgomery Quarter development that will spread across about 22 acres along Montgomery Road, the Cincinnati Business Courier reported. The project will include a boutique hotel, about 38,000 square feet of retail and restaurant space, 260,000 square feet of office space, 128 luxury apartments ,and 48 condos.
* Coworking company Industrious LLC increased its leased space at its Chicago - Ogilvie location at KBS Real Estate Investment Trust III Inc.'s 1.46 million-square-foot 500 West Madison St. in Chicago to 93,000 square feet from 46,500 square feet due to consumer demand.
* Common Desk LLC moved its headquarters to Granite Properties Inc.'s 215,000-square-foot Factory Six03 office development in Dallas' West End, the Dallas Business Journal reported.
After the bell
* Fibra Uno is in the late stage of discussions to acquire industrial parks in Mexico from Finsack 12 for $850 million, Bloomberg News reported, citing two people familiar with the matter.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.22% to 26,281.00, and the Nikkei 225 lifted 0.09% to 22,098.84.
In Europe, around midday, the FTSE 100 fell 0.12% to 7,317.41, and the Euronext 100 was up 0.24% to 1,091.47.
On the macro front
The Redbook Index for retail sales, the S&P Corelogic Case-Shiller home price index, the Federal Housing Finance Agency house price index, the consumer confidence report and the Richmond Fed manufacturing index are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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Data Dispatch: Currency shift, flight to luxury juiced Anbang's return on hotel portfolio sale: The Chinese insurer surprised some observers in the lodging industry by turning a healthy profit in a reported $5.8 billion transaction with Mirae Asset Global Investments.
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