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Tag: Property

  • Cousins Properties to Acquire Trophy Lifestyle Office Property in Downtown Austin | Press Releases

    Cousins Properties to Acquire Trophy Lifestyle Office Property in Downtown Austin | Press Releases

    ATLANTA, Dec. 10, 2024 /PRNewswire/ — Cousins Properties (NYSE: CUZ) announced today that it is under contract to acquire 601 West 2nd Street, also known as Sail Tower, an 804,000 square foot trophy lifestyle office property in Austin, for a net purchase price of $521.8 million.  The transaction is expected to close in December, subject to customary closing conditions.

    Sail Tower is located near the Second Street entertainment district in Downtown Austin and offers unobstructed views of Lady Bird Lake.  It is just a few blocks away from Cousins’ existing 1.7 million square foot Downtown Austin office portfolio, which is currently 93% leased. Sail Tower was developed in 2022 and the office space is 100% leased to a Fortune 20 company (S&P: AA+) through 2038.    

    “We are thrilled to add this iconic office property, with a strong investment grade customer, to our Austin portfolio,” said Colin Connolly, President and Chief Executive Officer of Cousins Properties.  “Austin continues to exhibit strong demand fundamentals, attracting top talent and growing companies.  This exciting transaction enables Cousins to enhance the quality of our leading lifestyle office portfolio and is immediately accretive to earnings.”

    Please refer to the Investor Relations page of Cousins’ website for a presentation with additional information on the transaction discussed in this release.

    About Cousins Properties

    Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com.

    CONTACT:

    Roni Imbeaux

    Vice President, Finance and Investor Relations

    404-407-1104

    rimbeaux@cousins.com

     

    Cision View original content:https://www.prnewswire.com/news-releases/cousins-properties-to-acquire-trophy-lifestyle-office-property-in-downtown-austin-302327587.html

    SOURCE Cousins Properties

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  • Room for big boys toys at lavish Wallington lifestyle property

    Room for big boys toys at lavish Wallington lifestyle property

    A prestige Bellarine Peninsula acreage property with garaging for 14 cars should have big boy toy enthusiasts revved up.

    There’s plenty of room to store jetskis, boats or even luxury vehicle collections at the lavish semirural entertainer, which brings together all the ingredients for a good life.

    A swimming pool, spa, sauna room and deck framing tranquil views of surrounding farmland are key to the resort-style vibes at 1161-1169 Bellarine Highway, Wallington.

    RELATED: Geelong’s $2m suburb where homes are becoming more grand

    Geelong areas where half of homebuyers don’t need a bank

    Two bidders vie for home in Belmont’s ‘best street’

    The property has been extensively landscaped, with irrigation throughout.


    The view from the deck makes you feel like you’re living miles from anywhere.


    The vendors have spared no expense on building the architectural four-bedroom house, just moments from Adventure Park and the Flying Brick Cider House.

    But, two years after finishing their ‘forever home’, they’re eyeing their next project.

    Their 1.74ha property is expected to fetch circa $4.5m.

    Gartland, Geelong agent Greg Matheson is calling for expression of interest by November 25.

    He said everything about the home is luxurious, from the internal fittings to the extensive landscaping with beautiful uplighting at night.

    The planting design has been chosen to reduce noise via growth patterns.

    Burnished concrete floors feature in the open-plan living zone.


    Recycled Geelong bricks sourced from the waterfront make an appearance.


    There’s lots of space to host friends and family.


    “With that backdrop at the rear of the property overlooking the pool and entertaining deck there’s a feeling that you are on a much larger piece of land than what you are and that’s because as far as the eye can see it’s green pastures and farmland, breathtaking,” Mr Matheson said.

    “But at the same time, you’re a stone’s throw to amenities in just about every direction, whether it’s the Surf Coast or Bellarine Peninsula wineries or Geelong, it’s such a pivotable location.”

    An open-plan living zone with burnished concrete floors, raked ceilings and high-end kitchen is the centrepiece of the home.

    It merges with a large north-facing deck featuring an outdoor kitchen and Vergola roof, the pool and sunken fire pit seating.

    The main bedroom suite has its own electric heater.


    The circular driveway adds to the sense of prestige.


    Both the rumpus room in the children’s wing and the luxurious main bedroom suite also have direct deck access.

    In addition to a triple garage attached to the main house, the second stand-alone shed providing three bays, three-phase power, a bathroom and laundry so you can wash up before coming inside.

    “It has to be seen to believe just how much attention to detail is involved,” Mr Matheson said. “There isn’t anything that’s been missed, forgotten or misplaced, it’s very deliberate in its architectural design and functionality.”

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  • Room for big boys toys at lavish Wallington lifestyle property

    Room for big boys toys at lavish Wallington lifestyle property

    A prestige Bellarine Peninsula acreage property with garaging for 14 cars should have big boy toy enthusiasts revved up.

    There’s plenty of room to store jetskis, boats or even luxury vehicle collections at the lavish semirural entertainer, which brings together all the ingredients for a good life.

    A swimming pool, spa, sauna room and deck framing tranquil views of surrounding farmland are key to the resort-style vibes at 1161-1169 Bellarine Highway, Wallington.

    RELATED: Geelong’s $2m suburb where homes are becoming more grand

    Geelong areas where half of homebuyers don’t need a bank

    Two bidders vie for home in Belmont’s ‘best street’

    The property has been extensively landscaped, with irrigation throughout.


    The view from the deck makes you feel like you’re living miles from anywhere.


    The vendors have spared no expense on building the architectural four-bedroom house, just moments from Adventure Park and the Flying Brick Cider House.

    But, two years after finishing their ‘forever home’, they’re eyeing their next project.

    Their 1.74ha property is expected to fetch circa $4.5m.

    Gartland, Geelong agent Greg Matheson is calling for expression of interest by November 25.

    He said everything about the home is luxurious, from the internal fittings to the extensive landscaping with beautiful uplighting at night.

    The planting design has been chosen to reduce noise via growth patterns.

    Burnished concrete floors feature in the open-plan living zone.


    Recycled Geelong bricks sourced from the waterfront make an appearance.


    There’s lots of space to host friends and family.


    “With that backdrop at the rear of the property overlooking the pool and entertaining deck there’s a feeling that you are on a much larger piece of land than what you are and that’s because as far as the eye can see it’s green pastures and farmland, breathtaking,” Mr Matheson said.

    “But at the same time, you’re a stone’s throw to amenities in just about every direction, whether it’s the Surf Coast or Bellarine Peninsula wineries or Geelong, it’s such a pivotable location.”

    An open-plan living zone with burnished concrete floors, raked ceilings and high-end kitchen is the centrepiece of the home.

    It merges with a large north-facing deck featuring an outdoor kitchen and Vergola roof, the pool and sunken fire pit seating.

    The main bedroom suite has its own electric heater.


    The circular driveway adds to the sense of prestige.


    Both the rumpus room in the children’s wing and the luxurious main bedroom suite also have direct deck access.

    In addition to a triple garage attached to the main house, the second stand-alone shed providing three bays, three-phase power, a bathroom and laundry so you can wash up before coming inside.

    “It has to be seen to believe just how much attention to detail is involved,” Mr Matheson said. “There isn’t anything that’s been missed, forgotten or misplaced, it’s very deliberate in its architectural design and functionality.”

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  • Real Estate Institute Of New Zealand (REINZ) Reports Lifestyle Property Market On The Rise

    Real Estate Institute Of New Zealand (REINZ) Reports Lifestyle Property Market On The Rise

    Data released today by the Real Estate Institute of New Zealand (REINZ) shows that in the three months ending September 2024, there were 1,400 lifestyle property sales, an increase of 45 sales or 3.3% compared to the previous three months. This represents an 11.8% rise from 1,252 sales during the same period in 2023.

    Over the year leading up to September 2024, 5,699 lifestyle properties were sold, 234 more than the year ending September 2023, marking a 4.3% increase. The total sales value of these properties sold was $6.34 billion.

    The median price for all lifestyle properties sold in the three months leading up to September 2024 was $945,000, an increase of $35,000 compared to the same period in 2023, or 3.8%. The median price for Bareland lifestyle properties was $450,000, a slight increase of $500 or 0.1% compared to 2023.

    Similarly, for Farmlet lifestyle properties, the median price in the three months leading up to September 2024 was $1,050,000, showing an increase of $27,196 compared to 2023, a 2.7% rise.

    “The September sales results reflect a continuation of the positive momentum in the market as we approach spring. The recent reduction in interest rates and indications of further decreases are boosting buyer confidence. This positive trend is expected to persist throughout the spring and summer selling season, leading up to Christmas,” commented REINZ Rural Spokesperson Shane O’Brien.

    Seven regions recorded an increase in sales compared to September 2023, with Northland (+63 sales) and Waikato (+42 sales) observing the biggest increases. Taranaki (-18 sales) and Bay of Plenty (-8 sales) recorded the biggest decreases in sales in the three months to September 2024 compared to the three months to September 2023. Compared to the three months to August 2024, 8 regions recorded increased sales.

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    Ten regions saw the median price of lifestyle blocks increase between the three months ending September 2023 and the three months ending September 2024. The most notable examples were in the West Coast (+74.3%) and Taranaki (+21.2%), with

    the most significant decreases being in Auckland (-4.5%) and Nelson/Marlborough/Tasman (-2.7%).

    The median number of days to sell for lifestyle properties was 18 days more in the three months to September 2024 than in the three months to September 2023, sitting at 95 days. West Coast (65 days) recorded the shortest number of days to sell in September 2024. Auckland (114 days) recorded the longest number of days to sell.

    “Buyers have access to a good selection of listings across all markets, and the upward trend in median sale prices for both Farmlets and Bareland is encouraging. However, the increase in the average days on the market suggests that buyers are still cautious when purchasing,” comments O’Brien.

    © Scoop Media


     

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  • Baldwin County property owners push for landmark status to preserve rural lifestyle

    Baldwin County property owners push for landmark status to preserve rural lifestyle

    STAPLETON, Ala. — Residents of rural south Alabama are campaigning for a local amendment to gain landmark district status.

    Local amendments one, two and three in Baldwin County will define landmarks across Stapleton, Bon Secour and Whitehouse Fork — preserving residents’ rights to decide whether their land is incorporated into the surrounding city limits.

    WEAR News visited multiple farms in Stapleton where property owners are working hard to encourage Baldwin County residents to vote yes on these amendments. Residents say they’ve fought for more than two years to add the amendment to their ballot.

    A proposed constitutional amendment will prohibit the annexation of any property without property owners’ approval.

    Michele White lives on several acres in Stapleton. She and others living nearby have worked for several years to prevent annexation, telling WEAR News she and her neighbors don’t want to be forced into a different lifestyle.

    “It really became a mission because all of us who live in Stapleton moved out there on purpose,” said White. “We didn’t get thrown out to the country. We moved out there to lead a rural life in Baldwin County, and the area to do that is getting smaller and smaller and we want to preserve that in Stapleton.”

    Along with Stapleton, Bon Secour and Whitehouse Fork are also being voted on. White says voting no on the amendment would be a disservice to property owners.

    “Those are three small rural communities,” said White. “Granting landmark district status to us gives us identity to the map, but also protects us from neighboring annexing from nearby cities.”

    “This landmark district status doesn’t change zoning, doesn’t change land use, taxation,” she said. “[It] doesn’t affect anything that hurts anyone else — yet gives the property owners the ability to choose whether they want to stay in the county, if a nearby city wanted to annex their property.”

    Despite many landowners in the area against annexation, White says voting yes on the amendment doesn’t mean your property can’t be annexed. The amendment just secures your right to have the final say.

    “It still preserves the right for those landowners from accepting an invitation to be annexed,” White said. “It prevents them from being forced into annexation.”

    “We’re watching the cities get closer and closer on all sides,” she said. “I live in Stapleton and our area is bordered by Loxley, Spanish Fort and Bay Minette. And the growth is wonderful. We appreciate the municipalities and everything they do, but we’d like to see preservation of rural areas in Baldwin County.”

    Stapleton residents are holding a town hall on Thursday to discuss the specifics of the amendments. It’ll be on Baldwin County residents’ ballots a week from Tuesday.

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  • Valor Hospitality signs new lifestyle property in Abha

    Valor Hospitality signs new lifestyle property in Abha

    Valor Hospitality Partners has signed a new lifestyle property in the city of Abha, Saudi Arabia, named Hijla Hotel. 

    The upscale property is expected to welcome guests in the second half (H2) of 2025.  

    It is a collaborative effort with the country’s Tourism Development Fund and the property’s owners, Mohammed Manaa Almounis and Samir Muhammad Al Qahtani, both of the Kayan Almusanada company. 

    Hijla Hotel will be a part of Le Premier, a high-end mixed-use development that includes a retail promenade with international brands and a variety of cafés and restaurants. 

    The hotel will feature 151 rooms and suites, two dining venues comprising an all-day deli, and a rooftop speciality restaurant. 

    Among other amenities to be provided at the hotel include meeting rooms, a convention centre, an enclosed swimming pool, and a fitness and wellness centre.  

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    The property will also provide ample private parking facilities. 

    Almounis said: “We are honoured to partner with Valor Hospitality Partners to manage Hijla Hotel, marking a significant milestone as their first managed property in Saudi Arabia.  

    “This collaboration not only elevates our commitment to exceptional hospitality but also positions Hijla Hotel as a premier destination in the country and the region.” 

    Valor Hospitality Middle East, CIS & Central Asia co-founder and managing partner Julien Bergue said: “We are extremely grateful and pleased to have found visionary owners in Mohammed Manaa Almounis and Samir Muhammad Al Qahtani and adding Hijla Hotel to our portfolio, making it our first property in Saudi Arabia and introducing Valor Hospitality Partners diverse offering to the thriving hospitality sector in the country, which falls in line with Saudi Vision 2030’s [goal] to promote the country through tourism.” 

    This August, Valor Hospitality Partners took over operations of the Hilton Garden Inn Haymarket hotel in Virginia, US.  


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  • Valor Hospitality signs new lifestyle property in Abha

    Valor Hospitality signs new lifestyle property in Abha

    Valor Hospitality Partners has signed a new lifestyle property in the city of Abha, Saudi Arabia, named Hijla Hotel. 

    The upscale property is expected to welcome guests in the second half (H2) of 2025.  

    It is a collaborative effort with the country’s Tourism Development Fund and the property’s owners, Mohammed Manaa Almounis and Samir Muhammad Al Qahtani, both of the Kayan Almusanada company. 

    Hijla Hotel will be a part of Le Premier, a high-end mixed-use development that includes a retail promenade with international brands and a variety of cafés and restaurants. 

    The hotel will feature 151 rooms and suites, two dining venues comprising an all-day deli, and a rooftop speciality restaurant. 

    Among other amenities to be provided at the hotel include meeting rooms, a convention centre, an enclosed swimming pool, and a fitness and wellness centre.  

    Access the most comprehensive Company Profiles
    on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

    Company Profile – free
    sample

    Your download email will arrive shortly

    We are confident about the
    unique
    quality of our Company Profiles. However, we want you to make the most
    beneficial
    decision for your business, so we offer a free sample that you can download by
    submitting the below form

    By GlobalData







    Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

    The property will also provide ample private parking facilities. 

    Almounis said: “We are honoured to partner with Valor Hospitality Partners to manage Hijla Hotel, marking a significant milestone as their first managed property in Saudi Arabia.  

    “This collaboration not only elevates our commitment to exceptional hospitality but also positions Hijla Hotel as a premier destination in the country and the region.” 

    Valor Hospitality Middle East, CIS & Central Asia co-founder and managing partner Julien Bergue said: “We are extremely grateful and pleased to have found visionary owners in Mohammed Manaa Almounis and Samir Muhammad Al Qahtani and adding Hijla Hotel to our portfolio, making it our first property in Saudi Arabia and introducing Valor Hospitality Partners diverse offering to the thriving hospitality sector in the country, which falls in line with Saudi Vision 2030’s [goal] to promote the country through tourism.” 

    This August, Valor Hospitality Partners took over operations of the Hilton Garden Inn Haymarket hotel in Virginia, US.  


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  • Real Estate Institute Of New Zealand (REINZ) August Data Reveals Variety In The Lifestyle Property Market

    Real Estate Institute Of New Zealand (REINZ) August Data Reveals Variety In The Lifestyle Property Market

    Data released today by the Real Estate Institute of New Zealand (REINZ) shows 79 fewer lifestyle property sales (-5.6%) for the three months ending August 2024 than for the three months ending July 2024.

    Overall, there were 1,330 lifestyle property sales in the three months ending August 2024, a 2.9% increase compared to the three months ending August 2023 (1,293 sales). There were 1,409 lifestyle property sales for the three months ending July 2024.

    5,669 lifestyle properties were sold in the year to August 2024, 113 (+2.0%) more than were sold in the year to August 2023. The value of lifestyle properties sold was $6.32 billion for the year to August 2024.

    Shane O’Brien, Rural Spokesman at REINZ, commented on the regional dynamics: “During the month, there were 433 sales of lifestyle properties that included 80 bareland blocks. Bareland block sales have dropped compared to August 2023 (101) and August 2022 (137) as the amount of available land reduces. At the same time, many buyers are looking to buy existing properties to ensure certainty against rising building costs and lengthy build times. There were 353 Farmlet sales during the month, the same number as August 2022.”

    The median price for lifestyle properties has seen a general upward trend. For all lifestyle properties, the median price reached $950,000, reflecting a 4.4% increase compared to the previous year. Farmlet Lifestyle properties had a median price of $1,045,000, up by 2.0% year-over-year. In contrast, the median price for Bare Land Lifestyle properties fell to $432,500, a decrease of 3.3% from last year.

    Seven regions recorded an increase in sales compared to August 2023, with the largest increases seen in Manawatu-Whanganui (+28 sales) and Wellington (+27 sales). Otago ( -19 sales) and Taranaki ( -17 sales) recorded the biggest decreases in sales in the three months to August 2024 compared to the three months to August 2023. Three regions recorded increased sales compared to the three months to July 2024.

    Nine regions saw the median price of lifestyle blocks increase between the three months ending August 2023 and the three months ending August 2024. The most

    notable examples were in West Coast (+28.0%) and Taranaki (+21.3%), with the biggest decreases being in Nelson/Marlborough/Tasman ( -14.2%) and Gisborne/Hawkes Bay ( -9.9%).

    “The lifestyle market remains active, with sales numbers fluctuating monthly but the median sale process remaining relatively steady. The median for Farmlet sales across NZ was $1,060,000 in August 2024. We expect this market to continue to respond to increased buyer interest as the residential market improves across much of New Zealand in coming months,” adds O’Brien.

    The median days to sell a lifestyle property increased to 90 days, up 11 days from the three months to August 2023. There were notable regional variations in selling times, with Southland having the fastest sales at just 52 days, while Auckland recorded the slowest at 104 days.

    © Scoop Media


     

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