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Economy Watch: Retail Sales, Producer Price Index
U.S. retail sales were down in May by 0.2 percent, according to the U.S. Census Bureau, or to put a better spin on it, not down as much as economists expected. A recent poll of economists by Bloomberg had predicted that the drop would be 0.5 percent.
JV Buys Mixed-Use Project
Canyon-Johnson Urban Funds and McCaffery Interests have joined forces to acquire and reposition the Roosevelt Collection, a mixed-use project in Chicago’s South Loop submarket.
Strategic Recaps Fairmont Scottsdale
Per the agreement, a new joint venture has been created between the company and an affiliate of Walton Street Capital L.L.C., a private equity real estate investment firm.
Economy Watch: Pessimistic Economists, Jobs Council
According to an Associated Press survey of 38 economists, those economists are feeling less optimistic than they did only two months ago. Their new estimate (on average) of U.S. economic growth in 2011 is 2.6 percent, compared with the 2.9 percent that they expected in April.
Harrison Street Closes Fund with $2B at Hand
Harrison Street Real Estate Capital L.L.C. has wrapped up the final closing of Harrison Street Real Estate Partners III L.P., a private equity real estate fund focusing on the education, healthcare and storage sectors of the U.S. real estate market.
Work Begins on $82M Five Crescent Drive
Liberty Property Trust and Synterra Partners have just broken ground on the 205,000-square-foot office building in Philadelphia that will become home to GlaxoSmithKline.
Economy Watch: IMF Data Theft, Employment
Word has broken that the computer systems of the International Monetary Fund were attacked in some unspecified yet reportedly major way.
HFF Secures $128M for Multi-Family Portfolio
The loan was procured for an eight-property, 2,407-unit group of assets located in the South and Southwest.
D.C. Office Complex Trades for $356M
The two buildings at Waterfront Station, a 2.1 million-square-foot mixed-use project under development by Waterfront Associates L.L.C., total approximately 631,000 square feet.
Economy Watch: Household Wealth, HAMP
U.S. household wealth increased $943 billion during the first quarter of 2011, according to the Federal Reserve in its latest flow of funds report.