Business Specialties
Clarion, Kettler Team on $154M High-Rise Apartment Project in Tight Suburban Washington Market
Scheduled to start construction this summer, the 411-unit high-rise will complete Metropolitan Park, a trio of upscale multi-family rental properties developed by Clarion and Kettler in Virginia’s Pentagon City submarket.
ERT to Acquire Biomedical Company Invivodata
by Adriana Pop, Associate Editor Global technology company ERT purchased Pittsburgh-based biomedical company Invivodata, Inc. for an undisclosed amount. The acquisition positions ERT as a leader in Clinical Outcome Assessments. The transaction was facilitated by San Francisco-based private equity group, Genstar Capital LLC, which recently announced it has completed the acquisition of ERT. In June, […]
Golden State’s Optimism Yields Development Plans: Allen Matkins/UCLA Report
Optimism about the CRE sector in California has been strong enough, for long enough, that new development is expected to pick up this year, especially in the industrial sector. The outlook is also brightening for office and multi-family, the latter of which was included in the semiannual report for the first time.
Economy Watch: No Clarity from Fed on QE3; U.S. Exports Rise
The Fed’s Open Market Committee offered few hints about whether it was prepared to prime the pump; U.S. exports rose from April to May, according to the Census Bureau. Investigations over LIBOR manipulation pick up steam.
Update: CBRE Global Investors Plans Upgrade of Newly Purchased 400 S. Hope
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St. And it has big plans to improve the asset’s double-digit vacancy rate.
M&R Development Adding 412 Luxury Units to Metro Chicago
In response to the growing demand for apartments in metropolitan Chicago, M&R Development has kicked off construction of two projects, Summit on Lake and Central Station, in the Chicago area.
CBRE Global Investors Grabs 700 KSF Downtown L.A. Office Tower
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St.
Blackstone Sells DiamondRock Hotels, Wins Stake in Hotel Company
DiamondRock Hospitality Co. has agreed to buy four hotels from The Blackstone Group for $495 million in an off-market deal that also calls for Blackstone to take a $75 million stake in DiamondRock.
Parkway Properties Takes Further Steps to Reposition Portfolio
Parkway Properties Inc., an Orlando-based REIT, has been repositioning its office properties portfolio. Most recently, it sold two Atlanta assets and a smaller building in New Orleans.
U.S. Leads Global Investment Sales as NYC Flexes Muscles: Cushman & Wakefield Midyear Update
U.S. investment sales are expected to reach $253 billion in 2011, a 25 percent jump compared to 2011. In the nation’s biggest office market, fundamentals remain sound.