Featured
MGM Resorts Mulls $250M Bid for its 50 Percent Stake in N.J. Casino
With the closing of the disposition of four long-term ground leases and their accompanying real property parcels totaling 11.3 acres, MGM Resorts International has just completed its first move to extricate itself from The Borgata Hotel Casino & Spa as mandated by the New Jersey Division of Gaming Enforcement.
Portland-Area Lodge Purchase Brings Pebblebrook’s Five-Month Buying Binge to $425M
Pebblebrook Hotel Trust, which has averaged approximately one acquisition a month since its first purchase in June, has bought the upper-upscale Skamania Lodge in Stevenson, Wash., from Lowe Enterprises Investors in a $55.8 million, all-cash deal.
Hyatt, Extell Team to Bring Upscale Park Hyatt Brand to NYC
The Park Hyatt flag will soon fly high in the New York City sky for the first time.
Economy Watch: QE2 Launched, for Better or Worse
The plan calls for the purchase of $600 billion worth of securities, bringing the central bank’s holdings to nearly $3 trillion.
Midterm Elections: Two Years Later, More Change is in the Air–Or Not
When the 111th Congress met in January 2009, the Democrats had it all–the House of Representatives and the Senate, not to mention the Executive Office. But when the 112th Congress meets in January 2011, it’s going to look a little bit different.
St. Louis Organization Seeks Incentives Approval to Win Yet Another Express Scripts Expansion Project
The St. Louis Economic Development Council has submitted a request to St. Louis County for an incentives package designed to encourage Express Scripts Inc. to build its new $63 million facility in its own backyard.
Capital Markets Chair Ousted in Election
As part of the many high-profile ejections in the elections, Democratic Rep. Paul Kanjorski was ousted by Republican Lou Barletta in Pennsylvania’s 11th District. Kanjorski, a House veteran of more than a quarter century, was an advocate of establishing a federal insurance office and authored significant parts of the Wall Street reform bill.
Economy Watch: United States Homeownership Lowest in More Than a Decade
According to the U.S. Census Bureau on Tuesday, during 3Q10, the homeownership rate was 66.9 percent of households, unchanged from 2Q10, but also the lowest rate in more than 10 years–since 2Q99. Back in the mid-2000s, the rate hovered around 70 percent.
Salesforce.com Pays $278M to Develop 2 MSF San Francisco HQ
The enterprise cloud computing company has just closed its purchase of 14 acres in the Mission Bay neighborhood.
Economy Watch: Construction Spending Sees Modest Gain
Construction spending unexpectedly kicked upward in September, led by homebuilders and somewhat more expectedly by public spending, according to the U.S. Department of Commerce.