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NYC Mayor “Thinks Big” with New $41B Affordable Housing Plan
New York City Mayor Bill de Blasio has unveiled his $41 billion plan for addressing the ever-increasing need for affordable housing — for both low- and middle-income individuals — in New York City. The Housing New York: A Five-Borough, Ten-Year Plan is an ambitious endeavor, to say the least.
MGM Resorts, AEG Break Ground on New Vegas Arena
MGM Resorts and AEG last week broke ground on a new $375 million, 20,000-seat indoor arena west of the Las Vegas Strip, between the New York-New York and Monte Carlo resorts.
For Studley, $260M Merger with Savills Promises Blooming Global Platform
“We will be uniquely positioned to develop new business from around the globe, while continuing to deliver exceptional service to clients,” Mitchell Steir, Studley’s chairman & CEO, told CPE.
Neuberger Berman Takes 355 KSF at Vornado’s 1290 Avenue of the Americas
The investment management firm will relocate to the Midtown Manhattan trophy tower in late 2016 after 24 years at 605 Third Ave.
Rechler Equity Breaks Ground on $100M M-U Project in Hamptons
The highly anticipated Hampton Business District at Gabreski, a unique $100 million mixed-use development at Francis S. Gabreski Airport in Westhampton Beach, N.Y., has gotten underway.
Brookdale, HCP Create $1.2B JV on Retirement Communities
Brookdale Senior Living and HCP are building on their existing relationship by creating a $1.2 billion strategic joint venture to own and operate entry fee continuing care retirement communities starting with 14 campuses.
CrowdVested Launches First Southeast Crowdfunding Campaign for Retail Project in Atlanta
CrowdVested together with Paces Properties is offering the first equity crowdfunding in the Southeast open to both accredited and non-accredited investors.
Swire Hotels to Debut in U.S. at $1.5B M-U Development in Downtown Miami
Hong Kong-based Swire Hotels will make its entrée into the U.S. with the opening of EAST, Miami at Brickell City Centre.
LinkedIn’s Lease at Tishman’s San Francisco Tower—Trend Among Tech Companies
Technology companies continue to power the hot office market in San Francisco, with LinkedIn announcing it is leasing the entire 26-story office building Tishman Speyer is constructing at 222 Second St.
Concord Hospitality Sells 13-Hotel Portfolio for $240M
Concord Hospitality Enterprises has sold a portfolio of 13 premium-branded, select-service hotels to companies owned by a global investment fund for approximately $240 million in an all-cash transaction.