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Economy Watch: Jobs Bill Sunk by Senate, Employment Trends Still Dropping
The Senate, in a procedural vote on Tuesday night, effectively killed Obama’s jobs bill. The Conference Board said that its Employment Trends Index decreased in September. And Slovakia’s parliament failed to approve an extension of the EU’s bailout fund.
Cushman Hires Five-Person Brokerage Firm in New Jersey
Cushman & Wakefield has snapped up a five-person office-brokerage team from Jones Lang LaSalle to help bolster its foothold in Central New Jersey. Paul Giannone will serve as executive vice president and will lead the group.
Clarion Spends $100M on 3 California Seniors-Housing Communities
Clarion Partners has just ponied up $100 million for three apartment complexes across California, adding 586 units to its portfolio of seniors-housing properties.
CommonWealth Buys One Shell Square in New Orleans for $102M
In the largest office transaction since Hurricane Katrina, CommonWealth REIT has purchased the 1.3 MSF One Shell Square in New Orleans from MetLife for $102 million.
Economy Watch: Wall Street Has a Very Busy “Off” Day
Despite the Columbus Day holiday, equities markets were open and investors took the opportunity to buy. The Paris-based OECD saw the fifth monthly decline in its economic indicators. And even though the recession is technically over, incomes are still falling.
Report: Domestic Office Sector Moving Upward Despite Weak Economy
A report by Cassidy Turley showed an uptick in demand for office space around the country. According to its latest figures, a net 14.9 million square feet were registered in the third quarter of 2011, the largest quarterly gain in more than four years.
Grandbridge Funds $72M Loan through Freddie Mac for Florida Multi-Family
Grandbridge Real Estate Capital just closed a $72 million Freddie Mac first-mortgage loan secured by Paradise Island, a 1,112-unit apartment property in Jacksonville, Fla.
Economy Watch: September Jobs Report Better Than Nothing, Not Great
The middling jobs report on Friday might not have inspired optimism, but at least it didn’t inspire a mini-panic. France and Germany hinted at plans for euro-zone debt restructuring. And the Fed reported that U.S. consumer credit dropped across the board in August.
Howard Hughes Corp. Completes $250M Loan for Hawaii Mixed-Use Retail Center Project
The Howard Hughes Corp. just received a $250 million loan for the redevelopment of Ward Centers, a 550,000-square-foot shopping district in Honolulu that is set to evolve into a premier mixed-use asset.
EquityOne Sells Two Assets for $124.9M; Buys Shopping Center for $55.5M
EquityOne has closed on the sale of Trio Apartments and Park Plaza for an aggregate $124.9 million and has picked up the sale of Aventura Square for $55.5 million.