Nicholas Ziegler
Economy Watch: Existing Home Sales Up in November
The NAR reported that existing home sales rose again in November compared with October. BoA has agreed to pay the government $335 million to settle allegations that Countrywide Financial was discriminatory. And many European banks jumped at the possibility of low-cost loans.
Kennedy Wilson, Equity Partners Complete Five-Building L.A. Office Portfolio
Kennedy Wilson, along with its equity partners, has wrapped up the acquisition of a five-property office portfolio in metropolitan Los Angeles for a total of $143.5 million.
Tishman Sells D.C. Office for $180M
The Rockefeller Group, in a joint venture with Mitsubishi Estate New York, has just purchased Washington, D.C.’s 1100 First St. NE from an affiliate of Tishman Speyer for $180 million.
Manulife Enters NYC Office Market with $285M Jersey City Buy
Manulife Real Estate has picked up the 30-story, 748,000-square-foot 10 Exchange Place in Jersey City for $285 million from Atlanta-based Invesco.
CBRE Sells Jersey’s Met Center to KBS REIT Affiliate for $105M
CBRE Group Inc. has sold the 421,000-square-foot Metropolitan Center in East Rutherford, N.J. for $104.9 million to an affiliate of KBS Real Estate Investment Trust II.
Economy Watch: Led by Multi-Family, Residential Starts Spike in November
The U.S. Census Bureau reported that housing starts increased by 9.3 percent in November. As expected, the House declined to play ball with the Senate on the payroll tax cut. And investors seem optimistic about the euro — for now.
Prologis Contributes $293M to Mexican Industrial Portfolio
Prologis continues to make big moves in Mexico with the contribution of a $293 million portfolio of industrial properties to Prologis Mexico Fondo Logistico, its Mexican co-investment venture.
Exclusive: Cushman's 12 Retail Predictions for '12
Cushman & Wakefield’s retail report being released tomorrow will contain both good and bad findings on the sector. U.S. retail head Matt Winn offers CPE an exclusive advance look.
HFF Arranges Funding for Boston-Area Mall, Houston Hotel
In separate transactions, Holliday Fenoglio Fowler has secured refinancing for two properties: a regional mall in suburban Boston and a boutique hotel in Houston.
Economy Watch: House Postpones Payroll Tax Cut Vote
The Senate passed the payroll tax cut and dropped the bill in the House’s lap. Homebuilder confidence is up for the third consecutive month, but it’s still anemic. And the U.K. looks like it will decline a 31 billion euro loan request.