Hot Link Wednesday

By Anthony Longo 20 12 2006 by Author

Luxury Market by way of Chicago Tribune.

This has been a good year to buy a mansion.

While the overall housing industry coped with a slowdown, the nation’s most well-heeled homebuyers indulged in a real estate shopping spree in 2006.

Sales of homes priced $5 million and higher are up 11 percent across the nation and are on track to set a record, according to DataQuick, a California firm that tracks property-sales data.

Fortune magazine, in its annual tally of the nation’s priciest home sales, declared 2006 to be “a banner year” for such properties, pegging the average price on its Top 10 list at $40 million, compared to $35 million last year. Continued…

W South Beach Hotel & Residences Closes $370 Million Construction Loan to Build in the Heart of The Magic City by Way of Yahoo Finance

RFR Holding and Tristar Capital announced the closing of $370 million in construction financing to build the new W South Beach Hotel & Residences in the cultural heart of Miami Beach. Hypo Real Estate Capital Corporation is providing financing for construction of the 750,000 square foot, 20-story luxury condo-hotel. The financing of the building is the third loan that RFR Holding has received from Hypo Real Estate Capital and is the single-largest project loan in the Company’s history. Continued…

Developer Unveils $3.6B Project Concept (Philadelphia) by way of GlobeSt.
A partnership between locally based World Acquisition Partners and Patriot Parking Corp. has closed on the acquisition of an 8.5-acre L-shape parcel along JFK Boulevard between 20th Street and the Schuylkill River. The JV has unveiled plans for Philadelphia River City, a mixed-use complex that would encompass 12 million sf of residential, office and retail at an estimated cost of $3.6 billion. Continued…