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Vestar to Manage Buena Park Downtown Retail Complex in California
Vestar is taking on a new 1.1 million-square-foot responsibility, now that it has won the third-party contract to spearhead management of Buena Park Downtown, a retail complex in Buena Park, Calif.
Economy Watch: Fed Pulls in Tidy Sum, Hands it to U.S. Government
The Federal Reserve gave the U.S. Treasury $76.9 billion in profits in 2011. The National Federation of Independent Business’ optimism index rose in December. And Fitch said that the real problem for Europe isn’t Greece, but Italy.
Colliers: Outside Factors Force Manhattan Office Pause
Describing the larger real estate picture around the United States as “tenuous,” a new report by Colliers International says the supply-and-demand balance of the Manhattan office market will remain virtually unchanged in the first few months of 2012 due to the combined impact of the larger worldwide economic situation.
Economy Watch: Employment Trend Index Up, Home Prices Down
Six of eight components of the Employment Trend Index showed positive growth in December. Total U.S. consumer borrowing rose $20.4 billion in November alone. And amid new fears of Greek insolvency, investors are pouring money into Germany.
Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments
Oak Grove Capital’s financing origination spree for apartment properties continues as the mortgage lender completes a $45M Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.
Economy Watch: Strength in Employment Numbers?
While the December jobs numbers were great, the economy needs more months like that. A refi rumor for GSE-sponsored homeowners made waves on Wall Street. And a recent report noted that CRE prices remained steady last month.
Hines Takes 255 KSF Minnesota Office Building for $70M
Hines Global REIT has picked up a premier 254,900-square-foot office property in Minneapolis with a $69.5 million sale-leaseback transaction with Cargill Inc.
Retail Roundup: Jenkins Sells 50 KSF D.C. Asset, Terramar Acquires Washington State Center for $35M
From coast to coast, retail transactions are closing one after the other. Among the grocery-anchored assets involved in the first deals of 2012 are the 50,600-square-foot Jenkins Row Retail in Washington, D.C., and the 130,800-square-foot Canyon Park Place in suburban Seattle.
Economy Watch: December Saw Stronger Job Growth, Apartment Vacancies Drop in '11
The U.S. economy added a relatively strong 200,000 jobs in December, according to the BLS. Apartment vacancies dropped 5.2 percent nationwide in the fourth quarter of 2011. And ISM’s Non-Manufacturing Index grew 0.6 percent from November to December.
CRA Purchases Louisville Multi-Family Portfolio for $97M
Continental Realty Advisors is keen on Kentucky, as evidenced by its recent purchase of a 1,200-residence apartment portfolio in Louisville. The multi-family housing owner and institutional fund manager acquired the group of four assets from Camden Property Trust for $97 million.