Allison Landa
Despite Bumps, Downtown Manhattan Keeps Rising
Looking ahead to the 10th anniversary of the Sept. 11, 2001, terrorist attacks, a wide variety of experts took the occasion to cite both encouraging trends and unresolved challenges during a conference held near Ground Zero.
W Hotels Makes Russia Debut
Owned by Real Estate Development Ltd., the W St. Petersburg hotel offers 137 guest rooms, bar and rooftop lounge. It was designed by Antonio Citterio and Patricia Viel Partners.
Economy Watch: Retail Sales, Producer Price Index
U.S. retail sales were down in May by 0.2 percent, according to the U.S. Census Bureau, or to put a better spin on it, not down as much as economists expected. A recent poll of economists by Bloomberg had predicted that the drop would be 0.5 percent.
JV Buys Mixed-Use Project
Canyon-Johnson Urban Funds and McCaffery Interests have joined forces to acquire and reposition the Roosevelt Collection, a mixed-use project in Chicago’s South Loop submarket.
Strategic Recaps Fairmont Scottsdale
Per the agreement, a new joint venture has been created between the company and an affiliate of Walton Street Capital L.L.C., a private equity real estate investment firm.
Creekmore, Harris Join Avison Young’s Atlanta Office
Tonya Creekmore will serve as a principal, focusing on expanding the firm’s retail management and leasing platform in the U.S., while Tina Harris will work as a senior retail leasing representative.
Economy Watch: Pessimistic Economists, Jobs Council
According to an Associated Press survey of 38 economists, those economists are feeling less optimistic than they did only two months ago. Their new estimate (on average) of U.S. economic growth in 2011 is 2.6 percent, compared with the 2.9 percent that they expected in April.
Harrison Street Closes Fund with $2B at Hand
Harrison Street Real Estate Capital L.L.C. has wrapped up the final closing of Harrison Street Real Estate Partners III L.P., a private equity real estate fund focusing on the education, healthcare and storage sectors of the U.S. real estate market.
Work Begins on $82M Five Crescent Drive
Liberty Property Trust and Synterra Partners have just broken ground on the 205,000-square-foot office building in Philadelphia that will become home to GlaxoSmithKline.