Finance
Economy Watch: Pending Home Sales, Durable Goods Orders Rise but Manufacturing Drops
The NAR’s Pending Home Sales Index rose 5.9 percent to 101.1 in May, while U.S. durable goods orders went up 1.1 percent. But the Midwest manufacturing output decreased 1 percent.
Younan Continues to Trim Leverage with Sale of Houston Asset
Prior to selling 1700 West Loop South in Houston, Younan Properties Inc. had sold $400 million worth of properties and reduced its leverage by 30 percent over the past year.
In $770M Deal, DEXUS Sells 16.7 MSF Industrial Portfolio to Blackstone
Affiliates of Blackstone Real Estate Partners VII picked up the 68 assets in what is being touted as the largest industrial portfolio transaction in the U.S. so far this year.
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
Prudential Mortgage Capital Closes its First CRE Loan in U.K.
Prudential is targeting at least $500 million of long-term, fixed-rate senior debt transactions in Europe, initially focusing on office, logistics, multi-family and retail properties in and around large population centers such as London, Paris and major German cities.
Economy Watch: Spain Set to Ask for Bailout; L-T Unemployment Down; Stimulus Debated
Spain might request as much as 100 billion euros ($125 billion) in financial assistance. U.S. long-term unemployment saw a drop, while Lacker dissented on the Twist.
SL Green Secures NYC’s 373 KSF Lease Renewal, Refinances Property for $230M
The city of New York has decided to stay put in in its 372,500-square-foot home at 100 Church St. in Manhattan, at the same time that building owner SL Green Realty Corp. refinanced the 1 million-square-foot property to the tune of $230 million.
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.
Economy Watch: Homebuilders Haven’t Lost Confidence Yet
Builder expectations are modest but holding steady; investor relief over Greek election is short-lived.