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FHFA: Fannie, Freddie M-F Businesses Not Independently Viable
Without their government guarantees, “the multi-family businesses of Fannie Mae and Freddie Mac have little inherent value,” according to the Federal Housing Finance Agency, which released two reports, one from each of the government-sponsored enterprises.
Port Authority Tops Off One WTC
The final two sections of the 408-foot steel spire that will crown One World Trade Center were hoisted to the top of the iconic tower yesterday, as dozens of construction workers cheered, making it the tallest building in the Western Hemisphere.
Sabal Financial Introduces Expanded CMBS Business
Sabal Financial Group L.P. has kicked off Sabal Commercial Advisors, an expansion of the financial services firm’s commercial mortgage-backed securities business.
Engineering Firm Nears Milestone at $1B NYC Office Tower
The temporary halt in development of Boston Properties’ 1 million-square-foot office project at 250 W. 55th St. in Midtown Manhattan grows smaller and smaller in the rearview mirror as building activity moves closer toward completion, and Arup is the latest participant in the endeavor to achieve a major goal.
Cole Real Estate Investments Purchases Sanofi-Aventis Building for $72.3M
A subsidiary of Cole Corporate Income Trust Inc. acquired Sanofi-Aventis’ property at 55 Corporate Drive in Bridgewater, N.J., from Mack-Cali Realty Corp. for approximately $72.3 million.
DLA Piper Special Report: CMBS Back, REITs Up, Liquidity Plentiful in Capital Markets
Speaking at the DLA Piper 11th Global Real Estate Summit in Chicago yesterday, industry movers and shakers remained only cautiously optimistic about the future of commercial real estate, despite several indicators pointing to a rebirth of the field.
Columbia Pacific, Long Market Property Buy San Francisco’s 995 Market St.
The new owners are banking on the “Twitter effect” to attract the city’s creative and high-tech set to the 105-year-old office building.
Twitter Chat: Bob Bach on Today’s Outlook for CRE Leasing, Capital Markets
Bob Bach joined CPE for a live Twitter chat about the outlook for leasing and the capital markets. The transcript follows.
MIPIM Special Series—Part One: Focus China
Associate editor Eliza Theiss presents a focus on real estate investment in China, the first in a three-part series of reports on worldwide real estate based on presentations at the MIPIM world property market in March.
MGM Details Arena-Centered Entertainment District in Vegas
There’s going to be a lot of action on the stretch between MGM Resorts International’s New York-New York and Monte Carlo casino-resort properties along the Las Vegas Strip.