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Economy Watch: Euro Zone Kicks the Greek Can Down the Road
Greece is getting a $172 billion infusion from the EU and the IMF. Residential delinquencies in the U.S. were down to 7.97 percent in January, a 0.18 percent drop from December. And the Chicago Fed said its National Activity Index showed growth in January.
Cassidy Turley: CRE Recovery to Accelerate in 2012
What has been a slow but steady rebound of the commercial real estate industry is on track to pick up pace in 2012, according to a new forecast by commercial real estate services firm Cassidy Turley.
Grubb Files for Bankruptcy, Sells All Assets to BGC Partners
BGC Partners Inc., an intermediary firm to global financial markets, has just purchased “substantially all assets” of troubled commercial real estate services firm Grubb & Ellis Inc.
Campus Advantage, Pension Fund Complete $100M Student Housing JV
Student housing owner/manager Campus Advantage of Austin, Texas, has closed a $100 million joint venture with one of the nation’s largest pension funds following its recent acquisition of two properties, the company announced late last week.
LaSalle Investment Management Takes Two Medical Office Buildings for $148M
Kilroy Realty Corp. has unloaded $147.5 million of property — in the form of two medical-office buildings — to LaSalle Investment Management. The two Class A buildings, which total 253,676 square feet, are located in San Diego.
Economy Watch: Study Warns of Adverse Impact of Accounting Rule Change on CRE
CRE and nonprofit associations have released a study demonstrating that the proposed changes to U.S. lease accounting standards would have a serious negative impact. And the OECD estimates that, among its 34 developed-nation members, GDP advanced a miniscule 0.1 percent in the fourth quarter.
American Realty Capital Trust Goes Public, Lists on NASDAQ
After spending a year considering strategic alternatives to maximize shareholder value, American Realty Capital Trust Inc., the flagship REIT of investment advisory firm American Realty Capital, has decided to take on the form of a self-administered REIT.
Related Breaks Ground on $350M Santa Monica Mixed-Use Development
Related California has begun construction on The Village at Santa Monica, a $350 million mixed-use community in the city’s Downtown area. The development will contain 318 luxury condo units as well as affordable rental housing amid 20,000 square feet of retail.
KDC, Estein Plan 400 KSF Office Tower for Downtown Dallas
KDC Real Estate Developments and Investments, in a partnership with Orlando-based Estein & Associates, has announced its plans to develop a 400,000-square-foot, 23-story office tower in Downtown Dallas.
Economy Watch: Homebuilding Sees Uptick in January
New-home construction gained 1.5 percent in January over December, according to the Census Bureau, but RealtyTrac found that foreclosures were up 3 percent in the same period. Weekly unemployment claims dropped to a four-year low.