Nicholas Ziegler
Dees Stribling’s Economy Watch Weekly
Employment is stuck in neutral, but not quite all of the economic news was bad this week — for the week ending September 2, 2011.
In Depth: Two MF Industry Leaders Team Up, Purchase California’s RW Zukin
Industry veterans Robert Talbott and Scott Mencaccy recently joined forces and acquired the RW Zukin Corp., a real estate services firm that has been serving the multi-family industry in the greater San Francisco Bay Area for nearly 50 years.
Economy Watch: August Employment Numbers Not Great, Trouble Continues in Europe
The jobs report on the Friday before Labor Day included some miserable details. While the U.S. took a holiday on Monday, troublesome news didn’t take a holiday in Europe. And U.S. economist Nouriel Roubini calls for a “60 percent” chance of another recession.
HFF Arranges $100M Credit Facility for McMorgan & Co.
Holliday Fenoglio Fowler has helped real estate investment adviser McMorgan & Co. LLC. orchestrate a $100 million credit facility.
Senior Housing Trust to Spend $478M for Nine Seniors Communities
Senior Housing Properties Trust has agreed to purchase nine large senior-living communities for $478 million, including $164 million of assumed mortgage debt, across six states.
Atlanta’s Englewood Retail District Sells for $82M
In a move that will bolster the Atlanta retail scene, an affiliate of North American Development Group has paid $81.7 million for the Edgewood Retail District, a regional shopping center two miles east of downtown Atlanta.
Economy Watch: U.S. Job Creation at Standstill in August, Construction Spending in the Doldrums
The Bureau of Labor Statistics reported that zero jobs were created in August, which is essentially a loss. Retailers had reasons to be cheerful for the month. But construction remains sluggish.
Starwood Wraps Up $154.4M Mortgage Securitization
Starwood Property Trust has closed the first four loans of a securitization featuring a principal balance totaling $154.4 million.
Hines Sells 1.4 MSF Three First National Plaza in Chicago
Thirty years after Hines developed Three First National Plaza in Chicago, the real estate company’s U.S. Core Office Fund has sold the 1.4 million-square-foot office property.
Office Space Tightening Amid Greater Economic Concerns
Despite continued economic volatility and sluggish growth, the top tiers of the office market are still drawing significant activity and interest, according to a Jones Lang LaSalle report.