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CBRE to Handle Leasing, Management for Five Buildings in Houston Center
J.P. Morgan Asset Management has turned over to CBRE Group Inc. the property management and leasing of five buildings totaling 4.2 MSF in the Houston Center complex on the east side of downtown Houston.
MBA CREF Special Report: Banks Wary About Overbuilding in Key Apartment Markets
Construction lenders raised concerns about the possibility of future overbuilding in key multi-family markets at the MBA CREF 2012 conference, which opened Monday in Atlanta.
Economy Watch: Nervousness Grows (Again) About Greece
Greece pushed back its austerity deadline from Monday to Tuesday, but is under intense pressure to reach a deal. The Conference Board saw its Employment Trends Index rise 0.73 points in January. And CRE prices seem to have plateaued for the time being.
Cassidy Turley to Provide Leasing Services for 2.2 MSF D.C. Development
Cassidy Turley becomes part of a landmark development in Washington, D.C., with Property Group Partners’ selection of the firm to serve as the exclusive leasing services provider for the I-395 Air Rights Development.
TIAA-CREF Spends $58M on Grocery-Anchored Connecticut Retail
TIAA-CREF picked up Kings Crossing Shopping Center in Fairfield, Conn., from previous owner HH East Parcel L.L.C., an entity led by Summit Development.
Economy Watch: January Jobs Jump Broad-Based
January’s employment totals were even better than expected, adding 243,000 jobs. Greece’s government has finalized an austerity deal for the economically challenged nation. And the ISM’s non-manufacturing index rose 3.8 points last month.
Starwood CEO Sternlicht, Partners to Invest $100M in South Beach Hotel, Condos
A consortium including affiliates of Starwood Capital Group, the LeFrak Organization and Invesco Ltd. have purchased a beachfront, mixed-use property in Miami’s South Beach, including a hotel formerly known as the Gansevoort.
Economy Watch: Economy Continues to Create Jobs
The U.S. Bureau of Labor Statistics reported that 243,000 jobs were added to the economy in January. The CBO expects sluggish economic growth for the next two years. And Fed Chairman Bernanke sparred with some members of Congress over monetary policy.
Clarion Partners Buys Pair of Back Bay Office Buildings for $87.1M
On behalf of a separate-account client, real estate investment manager Clarion Partners has acquired two adjoining office buildings in Boston’s Back Bay for $87.1 million. The 13-story buildings total 184,000 square feet.
Kentucky’s Springhurst Towne Center Sells for $78M
In a sale arranged by real estate investment banking firm Savills, one of the firm’s institutional-investor clients picked up the Springhurst Towne Center, an 830,000-square-foot retail complex in Louisville, for $78 million.