Business Specialties
Muted Growth in Office Property Gives a Tepid Outlook
A new report by Jones Lang LaSalle points to a marginal improvement in third-quarter 2011 commercial real estate markets both domestically and abroad — but warns that continued economic uncertainty could signal a slowdown.
Fifield, Wood Partners Break Ground on $175M K2 Tower in Chicago
It’s been seven years since the K Station development began construction in Chicago, but now developer Fifield has joined with Wood Partners to begin construction on the development’s fifth building: the 34-story K2.
Why Blackstone’s $1.1B Bet Goes Against the Grain
The Blackstone Group’s $1.1 billion acquisition last week of a suburban office portfolio from Duke Realty Corp. challenges conventional wisdom on multiple fronts — and departs from the standard approach of grabbing core office product in a handful of markets.
Carpenter Technology Selects Alabama for New $500M Manufacturing Facility
Carpenter Technology Corp. has a site near Athens, Ga., as the future home of a $500 million, 400 million-square-foot manufacturing plant that will serve its clients in the aerospace and energy sectors.
University of North Texas’ New Stadium Earns LEED Platinum
At the University of North Texas in Denton, green takes on new significance beyond the Mean Green athletics program, as the school’s recently completed $79 million stadium was certified as LEED Platinum.
Breaking News: Blackstone Buys a Billion
Blackstone has just spent $1.1 billion on an 82-building, 10.1 MSF portfolio, buying suburban office assets in seven markets across the Midwest and South from Duke Realty Corp.
McRoberts Joins Prudential Mortgage, Latest in String of GSE Departures
Prudential Mortgage Capital has hired Michael McRoberts, the latest in a string of departures from the government-sponsored enterprises, to head its Fannie Mae and Freddie Mac lending business.
$1B Innkeepers Portfolio Sale Back on Track
Innkeepers USA Trust’s deal to sell a 64-hotel portfolio to a joint venture consisting of Cerberus Series Four Holdings L.L.C. and Chatham Lodging Trust as part of its Chapter 11 plan of reorganization is back on again.
Economy Watch: Homebuilding Surges, Beige Book Sleeps–and So Does CPI
Home starts experienced an unexpected uptick in September, while the latest Beige Book intimated a “sluggish” economy and the CPI turned in the lowest increase since the beginning of summer.
Ventas Expands Borrowing Capacity to $2B
Seniors housing and healthcare powerhouse Ventas Inc. expanded its borrowing capacity with the closing of a new credit facility. Subsidiary Ventas Realty L.P. confirmed a $2 billion unsecured, four-year revolving credit facility, replacing a $1 billion facility scheduled to mature in April 2012.