Nicholas Ziegler
Economy Watch: Obama, Congress Reach Debt Deal
Under the terms of the not-quite-finalized deal, the debt ceiling would go up until after the 2012 election, spending would be cut by $900 million over 10 years and a committee of lawmakers would be tasked to find another $1.5 trillion to take out of the budget.
Westfield to Invest $612.5M in New WTC Retail Joint Venture
The World Trade Center redevelopment has taken a big step forward, with the Westfield Group entering into a JV with the Port Authority for $612.5 million.
CBRE Secures Two Big Contracts Totaling 77 MSF
CBRE has been chosen by HSBC Holdings PLC to take on the role of exclusive global strategic property portfolio manager for the financial company’s 72 million-square-foot international portfolio.
USAA, RXR, Broadway Partners JV for 750 KSF NYC Recap
The U.S. Republic Core Fund, an affiliate of USAA Real Estate Co., along with RXR Realty and Broadway Partners, announced the recapitalization of 340 Madison Ave.
Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights on CPE Radio into the top economic news for the week ending July 29, 2011.
Update: Creating the Big Picture for the WTC Site
At a reception hosted by CoreNet and Silverstein, preeminent developers, tenants and property managers of the WTC site discussed future plans, current signings and past successes on the leasing and development sides.
Ratings Issue Brings Goldman Sachs, Citigroup $1.5B CMBS Sale to an End
Goldman and Citigroup announced earlier this week the cancellation of the transaction involving nearly $1.5 billion in commercial mortgage pass-through certificates.
Cushman & Wakefield Wraps Up $500M Financing Deal
Cushman & Wakefield, currently investigating growth opportunities, is taking advantage on the capital markets’ warmer perception of certain real estate companies.
Economy Watch: Congress Continues to Spin Its Wheels, Foreclosures Down in 2011, Pending Home Sales Up in June
As of Friday morning, the House hadn’t voted on the Republican plan to raise the debt ceiling. Foreclosures in most major metro areas dropped during the first half of 2011 and, according to the NAR, pending home sales increased in June.
224 KSF Silicon Valley Office Campus Commands $45.8M
Great America Place has come under new ownership now that DJM Capital Partners has sold the Silicon Valley property to Newcastle Partners in a $45.8 million transaction.