Business Specialties
ULI Special Report: Across the Generations
While the Baby Boomers and Gen Y sit at opposite poles, that doesn’t make it necessary to choose between them as targets for housing or retail. In fact, according to analysis at last week’s Urban Land Institute Spring Meeting, the two groups—those in the process of entering the ranks of seniors and their children—complement each other.
ULI Special Report: Gen Y Goes Shopping
As retailers and shopping center owners strive to attract Gen Y consumers, the Urban Land Institute’s latest study offers some insight into their likes, dislikes and shopping habits.
Douglas Emmett Buys Beverly Hills Office Building from Larry Flynt for $89M
Douglas Emmett now owns more than one-fifth of the Class A office stock in Beverly Hills, Calif. The REIT just acquired the 225,000-square-foot property at 8484 Wilshire Blvd. from Larry Flynt for $89 million, bringing its total presence in the submarket to 1.6 million square feet.
First Wyndham Hotels & Resorts to Open in Dubai Marina
Wyndham Hotel Group plans to open the first Wyndham Hotels & Resorts property in the United Arab Emirates after signing an agreement with Sigma III Limited, a subsidiary of British-owned developer The First Group, to manage its 33-story building in the Dubai Marina.
Silverstein Secures Financing for Four Seasons Hotel, Condo Project in Lower Manhattan
Backed by a $660 million loan from a London investment fund, Silverstein Properties will begin construction this fall on a $950 million project, one of the tallest skyscrapers in downtown Manhattan, comprised of a 185-room Four Seasons hotel and 157 luxury condos.
Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta
In its second and third major moves in less than a week, Ares Commercial Real Estate REIT has agreed to acquire EF&A Funding Alliant Capital for $63 million in cash and stock, and has also named a new co-CEO, Todd Schuster.
Likely Suspects: Best Candidates for Compliance
While larger property owners in the small but growing number of cities—and in some cases states—requiring benchmarking of energy efficiency are more likely to already be doing it, they are not necessarily the greatest beneficiaries of the process.
ASA Leases 160 KSF at JEMB’s Herald Center in NYC
JEMB Realty has signed existing tenant ASA College to a lease extension and expansion that will see the higher-education institution more than double its space at JEMB’s Herald Center, a 10-story, 250,000-square-foot retail and office property at the southwest corner of 34th Street and Broadway.
CBRE Global Investors Fund Buys Hotel in San Jose
CBRE Strategic Partners U.S. Value 6 fund is making its first hotel acquisition with the purchase of the San Jose Marriott, a 506-room, full-service hotel attached to the San Jose Convention Center.
Regency Centers Corporation Breaks Ground on $50M First Phase of Shops on Main
Regency Centers Corporation has broken ground on the first phase of Shops on Main, a 147,851-square-foot community shopping center in Schererville, Ind.