The Palace of Auburn Hills and Surrounding Land to be Redeveloped

DETROIT, Michigan — Tom Gores chairman and CEO of private equity firm, Platinum Equity and owner of the Detroit Pistons NBA franchise announced today the formation of a joint venture to redevelop the Palace of Auburn Hills and its surrounding land. Livonia, Mich.-based Schostak Brothers & Company will serve as the lead partner and manage the future…

Greektown Casino sale to Penn National approved

DETROIT, Michigan — The $1 billion sale of Dan Gilbert’s Greektown Casino-Hotel gained final approval on Tuesday by Michigan regulators. Four members of the Michigan Gaming Control Board voted unanimously in favor of the sale. The all-cash deal is scheduled to close early Thursday morning. “This is the final step in the approval process,” Wilmott said. “We’ve already obtained approvals…

Kravitz Design pairs with firm for New “Temple Detroit” Hotel

DETROIT, Michigan — The city of Detroit continues its quest to revitalize the infrastructure of the downtown area. The “Temple Detroit” a $72 million real estate project is set to open in June 2020. The Temple will be designed by award-winning architecture firm McIntosh Poris Associates alongside Kravitz Design, Lenny Kravitz’ interior design company based…

Swedish Retailer H&M to open Store in Downtown Detroit

DETROIT, Michigan — Bedrock, a full service commercial real estate company founded by Dan Gilbert announced that Swedish retail giant H&M is planning to open a store in downtown Detroit this fall. It has been confirmed that the retailer will lease a 25,000-square-foot store in an area that includes three Albert Kahn-designed buildings on the…

Microsoft is investing $500 million to tackle Seattle housing crisis

REDMOND, Washington — Microsoft Corp. announced on Wednesday that it will be investing $500 million  to preserve existing affordable housing, spur construction of new units, and partner with nonprofits to address the affordable housing crisis on the Eastside of King County and the Puget Sound region. “If we’re going to make progress, we’ll all need to…

Texas Longhorns to get World-Class $338 million Basketball Facility

AUSTIN, Texas — The University of Texas at Austin (UT) and a group led by the Oak View Group (OVG) will build a world-class arena on campus that will be home to Texas Men’s and Women’s basketball games, graduations, concerts and other events. It is expected to be opened in 2021. The innovative 35-year agreement…

Monroe Blocks Development Breaks Ground in Downtown Detroit

DETROIT, Michigan — Dan Gilbert Monroe Blocks development breaks ground in downtown Detroit — along with the tower at the Hudson’s site. Both are expected to be completed by the end of 2022. “Monroe Blocks is the kind of special project that only comes along once or twice over the course of a career in…

Inside the massive $10.5 million mansion in Bloomfield Township, MI

BLOOMFIELD TOWNSHIP, Michigan — Have a look inside the massive $10.5 million mansion in Bloomfield Township, Michigan. The property is a 17,000-square-foot, Italian villa-style mansion in Bloomfield Hills’ gated Turtle Lake community. The three-story, 10,108 square foot villa includes six bedrooms and 10 baths, and features amenities including a pool and spa in the center…

Dan Gilbert selling Greektown Casino-Hotel for $1 billion

DETROIT, Michigan — Dan Gilbert announced that his JACK Entertainment LLC (“JACK Entertainment”) has entered into a contract to sell Greektown Casino-Hotel for $1 billion cash, pending regulatory approval. Under the terms of the agreements, Penn National will acquire the operating assets of Greektown for approximately $300.0 million, and VICI Properties will acquire the land…

Airbnb Surpasses 400 Million Guest Arrival Milestone

NEW YORK, New York — Airbnb passed an important milestone. According to Greg Greeley, President of Homes — Airbnb has surpassed 400 million guest arrivals to date. Greeley made the announcement while speaking at the Skift global travel conference in New York this past week. The milestone was reached on August 26, the same month…