Featured
DiamondRock to Shell Out $335M for Radisson Lexington Hotel
The lodging REIT signed on the dotted line of an agreement to acquire the 712-room room property from Lexington Hotel L.L.C., a partnership involving The Blackstone Group L.P., Whitehall Street Real Estate L.P. XII and Goldman Sachs.
New Avison Young HQ Embraces Sustainability
Starting the second quarter of 2012, Toronto’s Pricewaterhousecoopers Tower at Southcore Financial Centre will become home to Canada’s largest independently owned commercial real estate services firm.
Economy Watch: Builders, Economy Dour
Confidence in the market for newly built single-family homes was unchanged in May, at the basement level of 16. The National Association of Home Builders/Wells Fargo Housing Market Index has now remained at this level for six out of the past seven months, a long way below the break between optimistic and pessimistic, which is 50.
Equity One, NY Common Retirement Fund Form JV
Per the agreement, the Common Retirement Fund will own a 70 percent stake in the joint venture, leaving Equity One with the remaining 30 percent, as well as management and leasing responsibilities for all shopping-center assets to be purchased.
Economy Watch: CPI Up, Wages Down
Food and energy, those famed non-core consumer items, pushed the U.S. consumer price index upward once again in April.
$3.1B Purchase Makes Ventas Largest Seniors Housing Owner
If size matters, Ventas Inc. has just catapulted to the very top.
Laurus Completes Doubletree Purchase
The firm plans to reposition the San Diego property, including a major renovation to upgrade the resort. The revamp will include a reconfiguration of the lobby, pool deck upgrade and guest room makeover.
Liberty Property Trust Sells 14 Virginia Properties
The $97 million portfolio, which was sold to Lingerfelt Development, totals 918,889 square feet.
Chicago’s One Superior Place Changes Hands
The 809-unit apartment and retail tower was purchased by One Superior Place Leasehold L.L.C. and One Superior Place Fee L.L.C., two entities controlled by Hartz Mountain Industries.
JLL: Capital Markets Drive Change in San Diego
Jones Lang LaSalle said the market saw a decrease in availability for biotech real estate space as well as an increase in demand over the last two quarters of 2010.