International
Pramerica Sells Madrid’s Titán 4 to German Investor
Seven years after acquiring the Madrid office building known as Titán 4 in its development stage, Pramerica Real Estate has sold the 111,000-square-foot office tower in the Mendez Álvaro area to German fund manager Invesco.
Exclusive: JLL Expands into South America with Bogota Office
Jones Lang LaSalle is opening a new office in Bogota, Colombia, to serve as the base of its operations in the Northern Cone, CPE has learned exclusively.
NYU Schack Special Report: Sternlicht on Real Estate
Barry Sternlicht talks with James Kuhn at the NYU Schack Capital Markets conference about branding, global investment and more.
Economy Watch: U.S. Consumers Hit the Mall
According to the Department of Commerce, U.S. retail sales grew 0.5 percent in October, and the Producer Price Index actually dropped 0.3 percent at the same time. Bond yields rose once again for Spain and Italy.
CBRE Names CFO, CAO for Global Investment Unit
On the heels of closing its purchase of Netherlands-based ING Group N.V.’s real estate investment operations in Europe, CBRE Global Investors has named Maurice Voskuilen as its new global CEO & CAO.
ProLogis Sells 90% Stake in Brazilian Development to Pension Fund
Powerhouse industrial developer ProLogis Inc. announced the sale of a 90 percent interest in its not-yet-complete ProLogis CCP Cajamar Industrial Park in São Paulo, Brazil, to Brazil’s largest pension fund, PREVI.
Economy Watch: Census Bureau Offers New Definition of Poverty
The Census released a “supplemental poverty measure” to complement, but not replace, the official one. Non-revolving consumer credit rose in September. And the Italian debt time-bomb began ticking more loudly.
CBRE Closes on ING’s Europe Operations for $540M
In another piece of its acquisition of ING Group’s real estate management operations, CBRE has just closed on the European business — paying $540 million — after nabbing the Asia operations last month.
Kennedy Wilson: $1.8B U.K. Deal ‘Is Our Largest’
Kennedy Wilson makes its biggest splash ever in the loan-acquisitions game with an agreement to acquire a performing portfolio from Bank of Ireland for a whopping $1.8 billion, with an eye toward continuing to acquire in the United Kingdom.
Muted Growth in Office Property Gives a Tepid Outlook
A new report by Jones Lang LaSalle points to a marginal improvement in third-quarter 2011 commercial real estate markets both domestically and abroad — but warns that continued economic uncertainty could signal a slowdown.