Anna Spiewak
Capital Senior Living Acquires 4 Properties for $65M
Capital Senior Living Corp. has acquired four seniors housing properties for a combined purchase price of $65 million.
Harvest, LaSalle Acquire 233 KSF Office Tower in San Jose
Harvest Properties and LaSalle Investment Management have teamed to acquire 60 S. Market St., a 232,536-square-foot, 14-story Class A office tower located in Silicon Valley’s downtown San Jose, from Ares Management.
Economy Watch: GDP Increases to 4.1% in 3Q; State Unemployment Rates Drop
Real gross domestic product increased at an annualized rate of 4.1 percent in the third quarter of 2013. The state unemployment rates were generally lower in November.
Economy Watch: Existing Home Sales Drop in November; UN Predicts Better Global Growth in ’14; Initial Unemployment Claims Up
Total existing home sales dropped 4.3 percent in November compared with October. The United Nations is optimistic about 2014, predicting economic growth to rise steadily. Yet initial unemployment claims increased by 10,000 from the previous week.
Technology Gives CRE Professionals Boost with New Mobile Tools
From an app for frequent note takers to a software-as-a-service management platform, a continuing evolution in technology is giving commercial real estate professionals new mobile tools to help them with their jobs.
KBS REIT III Closes Chicago’s 500 West Madison for $425M
KBS REIT III has acquired 500 West Madison, also referred to as Citigroup Center, an iconic, 1.5 million-square-foot mixed-use tower in Chicago, for $425 million plus closing costs.
Canyon JV to Develop Class A Apartment Project in Prince George’s County, Md., for $93M
Canyon Capital Realty Advisors is teaming with Peter N.G. Schwartz and Hensel Phelps on the development of Apollo Residences at Town Center, a $93 million, 417-unit Class-A apartment project in Camp Springs, Md.
Economy Watch: CPI Doesn’t Move in November; Builder Confidence Remains High; Residential Property Equity Rises in 3Q
The Consumer Price Index for All Urban Consumers didn’t budge in November. Builder confidence improved four points in December to a reading of 58. And about 791,000 more U.S. residential properties returned to a state of positive equity during the third quarter of 2013.
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