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Analysis: NAI Purchase Reflective of Corporate America
Real estate investment company C-III Capital Partners L.L.C.’s announcement that it will acquire NAI Global — combining its commercial real estate loan servicing, loan origination, fund management and principal investment activities with the largest network of independent commercial real estate firms in the world — turned heads in the industry, but the deal says just as much about where the country is going as it does about the real estate market.
Acquisition of NAI Global Bolsters C-III’s Market Presence
NAI — whose network comprises 5,000 employees and 350 offices in the U.S. as well as 55 countries worldwide — will continue to operate as a separate company. The firm provides corporate, financial, technology and project management services.
Half-Million-SF Lease Near Trenton
Kenco Logistic Services L.L.C. has laid claim to more than half of the industrial building at 100 W. Manor Way in Robbinsville, N.J., with the signing of a 504,300-square-foot lease. The four-year-old facility sits along the New Jersey Turnpike.
Behind PNC’s Acquisition of RBC Bank USA
RBC has been a major player in the commercial real estate lending sector and the transaction will now add to PNC’s commercial real estate portfolio.
HFF Negotiates Sale of Houston Office Building
The firm oversaw the sale of 6671 Southwest Freeway, an eight-story, 148,751-square-foot office building in Houston.
Economy Watch: Home Sales, HUD Loans
The National Association of Realtors reported that existing home sales dropped 3.8 percent in May compared with April, to the lowest level of 2011 thus far.
Chesapeake Buys Hotel Indigo San Diego
The firm snapped up the 210-room boutique hotel from InterContinental Hotels Group in a $55 million cash transaction.
IHOP Expands to Middle East
The restaurant chain has inked a multi-restaurant franchise agreement for the development of 40 new locations in Kuwait, Saudi Arabia, Jordan, Lebanon, Qatar, the United Arab Emirates, Oman, Bahrain and Egypt.
Economy Watch: Greeks Warned, Wal-Mart Wins
The International Monetary Fund spoke of “large global spillovers” from the euro-zone debt crisis. Or more fully in a banker-like statement: “Failure to undertake decisive action could rapidly spread tensions to the core of the euro area and result in large global spillovers.”
Berkshire Subsidiary Takes 263,600 SF
Carpeting and flooring manufacturer Shaw Industries Inc. will occupy the industrial space at Point West VI near Dallas under a long-term lease agreement.