Allison Landa
Ground Breaks on $520M Washington Marriott Marquis
Quadrangle Development Corporation and Capstone Development have just kicked off construction of the Washington Marriott Marquis, a 1,175-room property that will serve as the convention center hotel for Washington, D.C.’s 2.3 million square-foot Walter E. Washington Convention Center.
CWCapital Closes $388M Apartment Refinancing Package in Largest LIBOR SWAP Deal of 2010
Financing for the portfolio of luxury apartment properties, made available through CWCapital’s Agency Lending Group, came in the form of four cross-collateralized loans with 10-year terms.
Economy Watch: Number of U.S. Bankruptcies Continues Upward
More than 1.22 million U.S. bankruptcies were filed for during the first nine months of 2010, an 11 percent increase compared with the same period last year, according to the American Bankruptcy Institute, citing data released by the Administrative Office of the U.S. Courts.
Edge, HAIL Invest $254.8M for 49 Percent Stake in 1540 Broadway
Also known as the Bertelsmann Building, 1540 Broadway stands 42 stories tall in the heart of Times Square in Midtown Manhattan.
Economy Watch: Seasonal Retail Hiring Grows
According to global outplacement firm Challenger, Gray & Christmas Inc., holiday hiring among retailers is off to a fast start. In October, the firm said, retailers added more than 150,000 positions, compared with only 47,800 during October 2009 and 38,600 during October 2008. Seasonal hiring hasn’t been this strong this early since 2006, in fact.
Transwestern, Page Form Retail Management JV
The strategic partnership aims to land institutional-quality retail management projects and expand retail leasing opportunities in Houston.
Labor Dispute Prompts Ammunitions Manufacturer to Build $100M Facility in Mississippi
Olin Corp., following failed union negotiations with workers, has decided to relocate its Winchester Centerfire Operations–and the accompanying 1,000 jobs–from East Alton, Ill., to Oxford, Miss.
Economy Watch: More Hiring, Same Unemployment Rate
According to the U.S. Bureau of Labor Statistics, the number of unemployed persons nationwide remained about the same–14.8 million–in October as in September.
Comcast Negotiates 130,000 SF in South Florida
Having inked three leases in South Florida, Comcast Corp. has lifted the moribund-as-of-late market.
MGM Resorts Mulls $250M Bid for its 50 Percent Stake in N.J. Casino
With the closing of the disposition of four long-term ground leases and their accompanying real property parcels totaling 11.3 acres, MGM Resorts International has just completed its first move to extricate itself from The Borgata Hotel Casino & Spa as mandated by the New Jersey Division of Gaming Enforcement.