Van Rooy sweeps national maintenance ‘Olympics’
Three of the local firm’s employees beat 3,000 contestants nationwide at a competition in New Orleans.
Property Management
Articles
Indianapolis office vacancy rates still rising
Vacancy rates in the downtown and Keystone at the Crossing markets climbed in the past six months, according to
Meridian
Real Estate’s latest report, but the market shows signs of stabilizing.
Greenwood mobile home park sold to Illinois firm
Indy Mobile purchases 527-lot Friendly Village through a court-appointed receiver.
Dora Hotels takes over management of DePauw’s Walden Inn
Dora operates more than 20 hotels, including five in downtown Indianapolis and two adjacent to Indianapolis International
Airport.
Local firm’s Carolina development slides into bankruptcy
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
General Growth’s bankruptcy plan makes room for Simon
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
Engeledow Group acquires estate landscaper
Engledow Group, one of the Indianapolis area's largest landscape companies, has acquired Litchfield Landscape Co. to bolster
its estates division.
General Growth investors add $3.93B to Brookfield plan
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
Bankruptcy court gives Simon Property target more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers.
Brookfield deal doesn’t put Simon out of General Growth game
The bid by Simon Property was an “initial salvo” and the Brookfield plan likely will prompt a new offer from the Indianapolis-based
mall owner, real estate research analyst says.
Blackstone may join Simon’s bid for General Growth
Blackstone Group LP, the world’s largest private-equity firm, may join Simon Property Group Inc.’s bid to buy bankrupt
General Growth Properties Inc., according to two people with knowledge of the discussions.
Venue-management titans emerge as CIB front-runners
Experts say a unique four-way partnership that includes the Pacers and Indianapolis Convention & Visitors Association may be the favorite to run the city’s sports and
convention venues.
Denison light-replacement project shows expanding base of green vendors in region
Indianapolis parking garage operator Denison shuns sexy LED lighting for Fishers supplier’s induction lights.
‘Dewatering’ system creates space, keeps new Marriott’s basement dry
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
Sidewalk inspections help downtown get spiffed up for big events
They used to say that downtown Indianapolis rolled up the sidewalks at 6 p.m. No one says
that anymore. Now they say those sidewalks need to be clean. Sidewalk cleanliness is important on a day-to-day
basis for aesthetic reasons, but even more so when Indianapolis wants to put on its best face for major events
like the Final Four, the Indianapolis 500 and the Super Bowl.
Simon layoffs would jeopardize HQ incentive deal
During one of the worst markets for real estate in decades, at a time when developers of all sizes are shedding employees, officials with Simon Property Group Inc. continue to insist they have had zero layoffs.
Strip-mall developer scales back as housing slump hurts small retail centers
A local developer known for its strip centers has stopped building new projects, scaled back its staff, and is trying to
unload several of its properties in an apparent bid to survive. Williams Realty Group earlier this year
shuttered its custom-home-building operation, DayMarc Homes, and now observers are wondering if owners Dave
Crockett and Marc Freije can keep the rest of Williams afloat.
Zender trying to sell 18 apartment complexes for about $40 million
A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city’s
rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago,
placed its 18-property apartment portfolio up for sale in November.
Dramatic facade change planned for office tower
The city’s oldest skyscraper will get a sleek new look starting this summer, when workers are scheduled to begin installing
a glass-covered curtain wall to replace a storm-scarred facade. Renovation of One Indiana Square should begin in June and
continue for two years.