Nicholas Ziegler
Economy Watch: Housing Starts Rise in June, Debt-Ceiling Activity but No Resolution, Robo-Signing Not Dead
On Tuesday the U.S. Department of Commerce reported that housing starts in June were at an annualized rate of 629,000 units, the highest in five months. There were two developments in the debt-ceiling saga, and robo-signing still continues, according to the AP.
Elbit Imaging Subsidiary Concludes Purchase of Remaining Units in EDT Retail Trust
A subsidiary of Israel-based Elbit Imaging Ltd. has wrapped up the off-market takeover bid for all remaining units in EDT Retail Trust, a retail REIT. The all-cash transaction increases EPN and its affiliates’ stake in the REIT to 96.4 percent.
Oppenheimer to Take 270,000 SF at Manhattan’s 85 Broad
The Manhattan deals keep on coming. On Monday, Oppenheimer & Co. Inc. announced that it inked a lease to occupy seven floors over 270,000 square feet at 85 Broad Street in lower Manhattan.
Chatham Adds Five Hotels to Portfolio in Part of $1.3B Deal
Chatham has completed the first step of its multi-faceted, $1.3 billion expansion plan with the acquisition of five Innkeepers hotels totaling 764 rooms for an aggregate $195 million.
400 KSF Falls Church Corporate Center Sells for $86M
The Falls Church Corporate Center, on the edge of the Washington, D.C., area, just sold in an $86 million deal brokered by Transwestern.
Economy Watch: Homebuilders a Little Less Glum, Obama Nominates Richard Cordray for Consumer Financial Protection Bureau, No Debt Ceiling Deal Yet
The National Association of Home Builders reported an uptick in confidence for July, as compared to June. Obama formally nominated former Ohio Attorney General Richard Cordray to be head of the newly created Consumer Financial Protection Bureau. But no progress appears to have been made on the debt ceiling.
CBRE Arranges $49 Million Sale of Sè Hotel in San Diego
In a sign of continued life for the hospitality sector, CBRE announced that it completed the $49 million sale of the Sè Hotel in San Diego to an affiliate of Kimpton Hotels & Resorts.
438-Unit L.A. M-F Property Commands $132.9M
The 438-unit Millennium Warner Center in the Los Angeles suburb of Woodland Hills just sold to Wesco L.L.P. for a purchase price of nearly $133 million.