Latest News
Cronus Capital and affiliate's current and historical news, press releases, and announcements.
- June 2008, the Fund purchased 350 newly-constructed 3- and 4-bedroom townhomes averaging 1,649 square feet in Homestead, Florida.
- April 2008, the Fund purchased a garden-style apartment community consisting of 128 multi-family units in Houston, Texas. The property represents a compelling turnaround opportunity due to its below-market occupancy rate.
- November 2007, the Fund acquired a two-story office building in the northwest submarket of Houston, Texas. The building has an atrium design and contains 61,072 square feet.
- August 2007, the Fund purchased a manufactured-housing community consisting of 68 home sites and two apartment units located in Clearwater, Florida.
- April 2007, The Fund acquired in joint-venture, a commercial complex in Basking Ridge, New Jersey. The complex is set on a picturesque 11-acre site with 100,000 square feet of Class A office space in two buildings, accessible to the entire New York Metropolitan area.
- April 2007, the Fund purchased four AmeriSuites Hotels located in Houston, Dallas/Fort Worth, San Antonio, and Austin, Texas. The Hotels are being converted to Hyatt's new select-service brand, Hyatt Place. Renovations are being completed with the Hotels re-flagged in November and operate in conjunction with other newly converted Hyatt Place hotels around the United States.
- 2006 News
- December 2006, Acquisition and significant capital improvements of two adjacent office buildings located in downtown Boston.
- November 2006, Acquisition of 528 multifamily units in three separate communities in Arlington, Texas. Occupancy rates at all three communities are currently at or near market levels (roughly 90% today versus 80% at the time of purchase).
- July 2006, Conversion of existing office building into 51 luxury condominiums in the Chelsea neighborhood of Manhattan. Construction began in January 2007, and pre-sales of the units began in May 2007.