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Call for Nominations: CPE Executive of the Year Awards
CPE is seeking nominations for the 2010 Executive of the Year awards, and we want to hear from you! Nominations close on Aug. 31, so log on now to https://fs18.formsite.com/CPExecutive/nominations to enter your nominations!
Health Care REIT, Merrill Gardens to Form $817M Partnership
Health Care REIT Inc. and independent- and assisted-housing owner/operator Merrill Gardens L.L.C. announced plans for a partnership valued at $817 million, joining forces to own and operate a 38-property portfolio of independent-living, assisted-living and dementia-care communities in various coveted markets on the West Coast. Executives at both firms believe the timing is perfect–for their own strategies and to address the demands of the seniors housing market.
Akridge Lands 120,000-SF D.C.-Area Government Office Property in Steal of a Deal
Now that Akridge and Rockwood have taken the property off the hands of the U.S. General Services Administration, the federal government’s real estate division, the team plans to submit the building to a major upgrade in order to mold it into a Class A office facility.
MGM Resorts and Partner Secure $950M Refinancing Deal for MGM Macau
Debt attached to MGM Macau, owned by MGM Grand Paradise S.A., a 50/50 joint venture partnership involving Las Vegas-based global hospitality company MGM Resorts International and Hong Kong-based businesswoman Pansy Ho Chiu-king, has been refinanced to the tune of $950 million through a new senior secured credit facility.
Economy Watch: Pending Home Sales Chart Downward Course
Pending home sales edged down in June compared to May, with near-term sales expected to be notably lower than in the spring, according to the National Association of Realtors. The surge of buyers taking advantage of the homebuyer tax credit is now definitively over. The question is–what next?
NAREIT’s Brad Case on REIT Performance
NAREIT vice president of research & industry information Brad Case discusses REIT performance on CPE TV during REIT Week 2010.
Avison Young Acquires Hodges Management and Leasing Company
The acquisition not only expands Avison’s coverage in the Atlanta region, but also increases the company’s North American property management portfolio. The two companies’ combined portfolio totals 50 million square feet of retail, industrial and office properties in Canada and the U.S.
Strategic Continues Florida Expansion
The company has acquired a 1,040-unit self-storage facility in the Florida city of Davie and will rebrand it under the SmartStop Self Storage trade name.
Economy Watch: Deflation Around the Corner?
Consumer prices edged downward in June by 0.1 percent, according to the Bureau of Labor Statistics, following a 0.2 percent decline in May. That raises the specter of deflation (again), which is the bogeyman du jour for some economists.
Vulcan Completes Second Phase of Amazon’s South Lake Union HQ
Located on the east side of Boren Avenue North between Mercer and Republican streets, the building encompasses 158,000 square feet of office and 14,000 square feet of street-level retail space.