Development
Economy Watch: Home Builders, Manufacturers Perking Up
Home-builder confidence rose for the fifth consecutive month, reaching its highest level in four years. Manufacturing indices, too, are up. And the Fed reiterated its commitment to rock-bottom interest rates at least through the end of 2014.
Sustainable Solutions: Syska Hennessy’s Co-Presidents Evaluate Green Efficiency Measures
Syska Hennessy Group co-presidents Gary Brennen and Cyrus Izzo discuss effective sustainability, or “high-performance,” methods.
Visionaries: Building Evolution: Syska Hennessy’s Co-Presidents Rate Construction Improvements, Recommend Future Needs
Syska Hennessy Group co-presidents Gary Brennen and Cyrus Izzo discuss the most beneficial solutions being implemented in building design and development today, where shortcomings remain and what owners’ and developers’ priorities should be for the greatest efficiencies in the future.
Sterling, Specialized Partner on 1,232-Bed Project at University of Arkansas
Sterling University Housing has partnered with Specialized Real Estate Group to construct two student-housing developments — totaling 1,232 bedrooms — near the campus of the University of Arkansas-Fayetteville.
Special Report: Bernanke Cites Availability of Capital as Constraint on Housing, Economic Recovery
Addressing the National Association of Home Builders, Federal Reserve Chairman Ben Bernanke acknowledged the critical role the single-family sector plays in the economic recovery, and said that the troubles in the single family industry resulted in part from constricted financing availability.
Landmark Properties, Harrison Street Begin Building 774-Bed Student-Housing Development
When the time comes for University of Arizona students in Tucson to hit the books for the fall 2013 semester, they will have a new off-campus option in the form of the Retreat at Tucson.
USAA, Overton Moore to Develop 523 KSF Inland Empire Industrial Facility
To capitalize on the need for industrial space, USAA Real Estate Co. has acquired 26 acres of land in Moreno Valley, Calif., that will be the future site of a 522,772-square-foot distribution center. Southern California-based Overton Moore Properties will act as developer for the project.
Carlson Real Estate Engages Eastdil Secured for 5.5 MSF Portfolio
Carlson Real Estate Co. has engaged investment banking firm Eastdil Secured to “assist in reviewing and evaluating strategic alternatives” for CREC’s 5.5 million-square-foot real estate investment portfolio in Minnesota, Arizona and North Carolina.
Chinese Firm HNA Property Holding Spends $130M on NYC's Cassa Hotel
HNA Property Holding Group Co. purchased the 165-room Cassa Hotel in midtown Manhattan from Assa Properties for $130 million. The transaction was helped by a $65 million senior loan from PCCP L.L.C.
Skanska Awarded $87M NYC Subway Construction Contract
Skanska USA’s civil infrastructure division, Skanska USA Civil, in a joint venture with RailWorks subsidiary LK Comstock and Co., has secured an $87 million contract with the Metropolitan Transportation Authority to provide construction services for the Second Avenue Subway systems project in New York City.