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Economy Watch: OECD Optimistic, ISM Mixed
The Organisation for Economic Co-operation and Development–OECD, or the club of the world’s wealthiest nations–said that growth in the G7 economies appears to be stronger than it previously thought, with accelerating private-sector investment and trade boosting recovery. Except for Japan, that is, so that would mean that the “G7 minus 1” economies are doing better.
Sunstone Prices Public Offering of 4M Shares
Sunstone Hotel Investors Inc. anticipates pocketing $100 million in gross proceeds from the Series D preferred stock.
Economy Watch: McJobs, Debt Ceiling, Inflation
The Conference Board said its Employment Trends Index increased again in March, for the sixth month in a row. The index now stands at 100.9, up from February’s revised figure of 100.3, and is up more than 8 percent from a year ago. It’s another indication that while not all employers are hiring (especially public entities), a good many are.
ProLogis Wraps Up $157M Bond Financing
The bond was secured with the 1.2 million-square-foot Parc Zama I, located outside of downtown Tokyo. In 2010, just one year after its completion, the distribution facility reached the 100 percent occupancy level.
Hines Courts Luck in Ireland
As Ireland restructures its real estate industry and banking system, opportunities abound and Hines Interests has positioned itself to capitalize on the real estate market’s favorable conditions with the debut of its Dublin office.
Economy Watch: Hiring, Construction Spending
A net of 216,000 more Americans had jobs in March versus February, and the official unemployment rate dropped to 8.8 percent during the same month. How much good news was this? Reasonably good, since the total is more (but not a lot more) than the 150,000 or so jobs the economy must create every month just to keep up with U.S. population growth.
AMB Closes 361,200 SF of New Leases in Asia
The industrial REIT inked seven leases in Japan and China, with 210,100 square feet at distribution centers in Tokyo and 151,000 square feet at development projects in Shanghai and Dalian.
Westwood Financial Opens Fourth Atlanta Office
The new location in Kennesaw, Ga., is the shopping center owner and operator’s fourth regional office in Atlanta.
Economy Watch: Employment Up, Other Data Mixed
The U.S. Bureau of Labor Statistics said that employment increased by 216,000 in March, which wasn’t a bad showing considering how nervous businesses are these days over international events and commodity inflation, but it wasn’t enough to reduce overall unemployment much.
Health Care REIT, Benchmark Close $890M JV
The group of assets involved–including independent living, assisted living, memory impaired and respite stay communities–are sited in highly coveted markets in six New England states.