Business Specialties
Economy Watch: Compromise on Tax Cuts, Unemployment?
The agreement described by President Obama was tentative, something he called “a framework for a bipartisan agreement.” Still, the deal would extend the current tax rate for everyone who still has an income for two years, while maintaining unemployment benefits for those who do not for 13 months.
Opus Launches $30M Minnesota Project
With the purchase of three land parcels in the Stadium Village area near the University of Minnesota’s East Bank Campus, The Opus Group has launched its development of Stadium Village Flats.
Colliers Expansion Leads into Kansas City
Colliers International continued its 10-year growth effort with the addition of Kansas City service leader The Winbury Group.
Brookfield Properties Picks Up 650 Mass Ave. in D.C. for $113M
The flurry of office transactions in Washington, D.C., continued with Brookfield Office Properties’ purchase of 650 Massachusetts Ave., N.W. Brookfield plunked down $113 million in cash to buy the property from Washington Television Center L.L.C.
Economy Watch: Pending Home Sales Show Some Life
Pending home sales spiked unexpectedly in October, according to the National Association of Realtors on Thursday. Foreclosed properties made up a large proportion of those sales. Meanwhile, retail performed well in November.
Cedar Wraps up $65.2M in Mortgage Loans on Six Shopping Centers
Cedar Shopping Centers Inc. has closed on 10-year fixed-rate mortgage financing for a six-property suite purchased in October. The primarily supermarket-anchored properties were bought on behalf of a joint venture between Cedar and RioCan Real Estate Investment Trust, a Canadian firm.
Madison Appoints Carroll as Managing Director
In his new position, Bradley Carroll will create and implement business development strategies and source prospective investments, mostly in major U.S. markets. He comes to Madison from Tishman Speyer Properties, where he most recently served as managing director overseeing portfolio and asset management for three emerging market real estate funds.
Grubb & Ellis Healthcare REIT II Buys 45,000-SF North Carolina MOB
Grubb & Ellis Healthcare REIT II is actively looking to raise as much as $3 billion in equity in order to bolster its property portfolio.
Federle Joins NorthMarq’s San Francisco Office as SVP/Managing Director
Federle’s addition is part of NorthMarq’s investment sales expansion initiative.
Land Use Approval Paves Way for 5 MSF Industrial Park in Florida’s Nassau County
Development of the industrial complex is still in the formative stages, but with land use approval in hand, TerraPointe is moving on to the next order of business. The company will develop a marketing plan and initiate talks with site selection consultants.