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Choice Hotels Picks New CEO
The lodging company’s selection of Patrick Pacious, president & COO, for the position marks the conclusion of a long-term succession planning undertaking.
When AI, Real Estate Meet
Computers, robotics and related technologies in the workplace are causing major changes to how work gets done, creating disruptions as well as opportunities for real estate providers.
Cushman & Wakefield Appoints New Retail Leader
In his new role, industry vet David Gorelick will be responsible for managing client development and driving the firm’s revenue growth initiatives.
Highly Crowdfunded Vehicle Hits Final Close at $151M
Origin Investments’ Fund III, raised from more than 450 investors, is intended to acquire $600 million in value-added commercial properties.
S. Korean Investment Firm Buys NASA HQ in DC
Two Independence Square, the largest asset in Piedmont Office Realty’s portfolio, sold for $360 million, or $593 per square foot.
Ivanhoé Cambridge Buys Evergreen for $1B
The transaction, which concludes a two-year search for the right industrial real estate company, expands the Canadian firm’s portfolio by 16 million square feet in U.S. assets.
US Industrial Availability Drops to Notable Low
Warehouses and distribution centers saw the rate decline to 7.8 percent in the second quarter, a low not seen in years, a new CBRE report unveils.
JBG Breaks Ground on DC-Area Headquarters
The 14-story building on Bethesda Avenue is slated for completion in the third quarter of 2019. The REIT will occupy the lower floors, with 200,000 square feet of office still up for grabs.
Netflix Expands in Hollywood
Hudson Pacific Properties facilitated the deal. To date, the two companies have teamed on more than 560,000 square feet of office space.
Brooklyn Reuse Project Receives $150M Bridge Loan
Glacier Global Partners and Triangle Assets landed the short-term financing for 10 Jay St., an 1890s building at the entrance of the newly developed 85-acre Brooklyn Bridge Park.