Allison Landa
Transwestern Debuts in NYC Market
It’s been a long time coming. After years of eying New York for expansion, Transwestern has made its entry into the city with the creation of its Northeast region, and the company has put two industry veterans, Patrick Robinson and Lindsay Ornstein, in place to spearhead the endeavor.
SPECIAL REPORT: Turning Point in CRE
Speaking at the opening session of the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo, panelists expressed optimism, but suggested there remain significant weaknesses in the sector.
With 100,000 SF Lease, Architectural Gem in L.A. to be Focus of New Google Campus
The internet search engine giant will have a new campus with a fancy face, courtesy of a 100,000-square-foot office lease agreement with W.P. Carey & Co. L.L.C. — and that face has eyes.
Strategic Hotels Brings in Blackstone to Help Recap San Diego’s Famed Hotel del Coronado
The arrangement, which gives Blackstone a 60 percent ownership stake in the celebrated luxury waterfront hotel, was a timely one, as a loan secured by the property had been scheduled to mature this month.
Economy Watch: Home Prices Flat
CoreLogic’s December Home Price Index found U.S. home prices declining for the fifth consecutive month. According to the company, sales prices nationwide–including distressed-property sales–were 5.46 percent lower in December 2010 compared with the same month a year earlier. Take distressed sales out of the equation and prices are still down, but only by 2.31 percent between December 2010 and December 2009.
CRE-Advice.com Summit Today
CRE-Advice.com offers the industry’s first online leadership summit. Click here to register for this free online event, featuring insights into what’s in store for 2011, including commentary from CPE editor-in-chief Suzann Silverman, along with such industry thought leaders as Frank Simpson, Jeff Finn, Robert Knakal, Kevin Maggiacomo, Mark Rose, Jeffrey Rogers, Rod Santomassimo, Ron Goss, Sam Chandan and Dan Sight.
Phoenix, MG Acquire $53M Apartment Community
The purchase of Crystal View, a 402-unit property in Garden Grove, Calif., received assumable tax-exempt bond financing and 20 percent of the units are reserved for low-income housing.
Langtree, RL West Join Forces on $800M Project
They will be developing the 300-acre Langtree at the Lake planned community in Mooresville, N.C.
Economy Watch: Consumer Debt Edges Up
U.S. consumers pried their credit cards out of their wallets and pocketbooks for some extra use in December, according to the Federal Reserve. Credit card spending was up during that month, the first monthly increase in more than two years. The total amount of credit card debt was up $2.3 billion in December, a 3.5 percent annualized rate increase.