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CBRE Closes First Phase of $940M Purchase of ING’s Securities, Management Businesses
The first phase of CB Richard Ellis Group Inc.’s deal to acquire ING Group N.V.’s real estate securities business and its investment management operations, for a combined sum of $940 million, has closed.
Economy Watch: Mixed Jobs Reports So Far This Week
The monthly parade of jobs numbers has begun again, first with a report by Challenger, Gray & Christmas, which on Wednesday reported an 11.6 percent rise in mass layoffs in June compared with the previous month.
MSREI, Lincoln Property Snap Up 950,000-SF, $320M L.A.-Area Complex
Morgan Stanley Real Estate Investing and Lincoln Property Co. have become the new owners of the Parsons Campus, a 950,000-square-foot office property in the Los Angeles suburb of Pasadena.
Avison Young Buys Millennium Realty Advisors
Leading Canadian commercial real estate firm Avison Young has acquired Millennium Realty Advisors L.L.C., a top firm in metropolitan Washington, D.C.
C&W Arranges $47.5M Financing for Hawaii Hotel
Cushman & Wakefield Sonnenblick Goldman’s Global Hospitality Group announced Tuesday that the firm arranged a $47.5 million financing for the acquisition of the Courtyard Waikiki Beach, a 401-room property located in central Honolulu.
Economy Watch: U.S. Manufacturing Gains Steam
The nation is manufacturing with some gusto, but may not be producing that many jobs. After a stumble last month, U.S. manufacturing seems to be on its feet again.
Brookfield Sells $340M Houston Building to Chevron, Secures Company’s Lease Renewal Next Door
Chevron Corp. has certainly done its part to keep the Houston office real estate market active and Brookfield Office Properties has played a big role in the effort. The energy giant just acquired its 1.3 million-square-foot home base at 1400 Smith St. from Brookfield for $340 million.
$410M Expansion Underway at Four Winds Casino in Michigan
The Pokagon Band of Potawatomi Indians plans to accommodate eager gamers from Michigan and surrounding states with the $410 million expansion of its Four Winds Casino Resort in New Buffalo.
Economy Watch: U.S. Construction Slumps Again
Construction spending dropped 0.6 percent in May to an annualized rate of $757.9 billion, according to the U.S. Department of Commerce on Friday.
Colliers Continues National Expansion with Addition of Pittsburgh Commercial Real Estate
In yet another step forward in the execution of its growth strategy, Colliers International has brought Pittsburgh Commercial Real Estate Inc. into the fold to enhance both its reach and its portfolio of services.