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Fifield, Wood Partners Break Ground on $175M K2 Tower in Chicago
It’s been seven years since the K Station development began construction in Chicago, but now developer Fifield has joined with Wood Partners to begin construction on the development’s fifth building: the 34-story K2.
Why Blackstone’s $1.1B Bet Goes Against the Grain
The Blackstone Group’s $1.1 billion acquisition last week of a suburban office portfolio from Duke Realty Corp. challenges conventional wisdom on multiple fronts — and departs from the standard approach of grabbing core office product in a handful of markets.
Northbridge Breaks Ground on 110-Unit Assisted-Living Project Near Boston
The Northbridge Cos. has just broken ground on Stonebridge at Burlington, a 110-unit assisted living and memory care community on nine acres in Burlington, Mass., approximately 20 miles north of Boston.
Economy Watch: Euro-Zone Agreement Still Elusive
Euro-zone officials met in Brussels over the weekend to make progress on the question of national debts. The U.S. might be facing another credit downgrade, according to a Bank of America report. And new data shows that $69 billion has been lost domestically since 2007 on bad mortgages.
University of North Texas’ New Stadium Earns LEED Platinum
At the University of North Texas in Denton, green takes on new significance beyond the Mean Green athletics program, as the school’s recently completed $79 million stadium was certified as LEED Platinum.
Western National Spends $95M on Orange County Apartment Complex
Western National Group has acquired the 368-unit Seacrest Luxury Apartments in San Clemente, Calif., for $95.4 million from an affiliate of TRECAP Partners.
Economy Watch: Existing Home Sales Decline, Jobless Claims Inch Downward
Existing-home sales saw a 3 percent slide in September, according to the NAR. The U.S. Leading Economic Index increased 0.2 percent in the same month. And jobless claims for the week ending Oct. 15 were down 6,000 from the previous week.
Jersey City Office Tower Commands Record $378M for Brookfield
Multi-Employer Property Trust, a national real estate equity fund, raises its profile in the metropolitan New York City market.
Growing Demand, Supply Constraints Keep Lid on Net-Lease Cap Rates: Boulder Group
The market for single-tenant assets should remain stable through the end of the year as demand for core assets keeps the lid on cap rates.
GGP Reaches Refinancing Goals with $966M of New Mortgages
The four most recent transactions bring GGP’s refinancings to $3.9 billion for the year.