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JLL Wins 4.3 MSF Management Contract from Principal Financial
Jones Lang LaSalle has won yet another assignment, emerging victorious form a heated bid for a facilities-management contract for the Principal Financial Group’s 4.3 million-square-foot portfolio of employee-occupied properties.
Times Square Property Moves for $136M
If there’s one constant in Manhattan real estate, it’s that there’s always a deal going on. This week, it’s the news that 1552 Broadway in Times Square has changed hands for $136.6 million.
$78M in Refis for Beech Street Capital Across Three Deals
It’s been busy over at Beech Street Capital. In the last few days, the multi-family lender has closed three financing deals that total a combined price of $78 million.
Economy Watch: A Positive Outlook on Long-Term Deficit
The Congressional Budget Office said the longer-range forecast is for the budget deficit is better than expected. The Federal Housing Finance Agency reported its House Price Index edged up 0.9 percent in June. And Wall Street was ended positive yesterday, but investors are waiting for Ben Bernanke’s speech on Friday.
$230M Acquisition Financing in Place for Boston’s Landmark Center
HFF has put in place a $230 million financing deal towards the $530.5 million purchase price of the mixed-use Landmark Center in Boston.
Dealing with an Earthquake’s Aftermath
The 5.9 shock that registered on the East Coast yesterday thankfully saw no injuries but served as a call to review precautionary measures for real estate and for infrastructure.
Economy Watch: New Home Sales Back in the Cellar; FDIC Speaks Up on Banks, WaMu
The economic tumult has apparently discouraged Americans from buying new homes. The FDIC reported that the number of problem banks declined during 2Q11, and a federal court won’t the agency off the hook for bad WaMu mortgages.
Yahoo, JLL Achieve LEED Gold on 1 MSF Sunnyvale Campus
In a first for a corporate campus of this kind, Jones Lang LaSalle and Yahoo announced Monday that the search giant’s Sunnyvale, Calif., campus has been awarded LEED Gold certification.
Economy Watch: Increasing Delinquency Rates Not All Bad, Chance of Another Recession Is a Coin Toss
U.S. households delinquent on their mortgages rose by 12 basis points in 2Q2011. The chance of another recession is about 50/50, according to Fannie. And the Chicago Fed reported a slight uptick in its economic indicators.
USAA, JLB Team Up on Upscale 373-Unit Atlanta Project
USAA and JLB Partners are capitalizing on Buckhead, one of Atlanta’s ritziest areas, in a joint venture to develop Buckhead Village, a premier multi-family property that will add 373 residences to a hungry apartment market.