News
Macerich Closes First of Three Giant Joint Ventures
The Macerich Co. has closed on a previously announced joint venture with GIC, in which the regional mall REIT contributed a 40 percent interest in four properties.
Economy Watch: Most Kinds of Construction Seeing Healthy Gains
By Dees Stribling, Contributing Editor The economy might be a little wobby, but at least construction spending is still rising. The Census Bureau reported on Monday that U.S. construction spending during September came in at an annualized rate of $1.094 trillion, or 0.6 percent above the revised August rate. The September 2015 figure is also 14.1 percent above the September 2014 rate. Both private and public construction spending were up for the month: increases of 0.6 percent and 0.7 percent, respectively. For the year, private construction spending was up 16 percent and public spending rose 9.4 percent. Most categories of…
What October’s Cooling Rents Mean for Multifamily
Yardi Matrix editorial director Paul Fiorilla weighs in on the October Matrix Monthly report findings.
13-Building Apartment Sale is Bronx’s Biggest in 2015
Continental Properties and affiliates of J.P. Morgan Asset Management have sold a 13-building multifamily portfolio in the Bronx for $90 million.
New Time Inc. HQ Invades Lower Manhattan
Time Inc. has begun moving into its new headquarters at 225 Liberty St., in New York City, transitioning away from the historic Time & Life Building.
Budding Trends for Office Spaces
Karen Whitt, president of investor and real estate management services for Colliers International, discussed new trends in office amenities and ways owners across the country are shifting the use of shared space to attract and retain tenants.
Skanska Bids Farewell to Office Building in Prague
A newly-completed office building in Prague was sold by Skanska for $60.5 million.
Columbia Property Trust Retains Top Tenant in Denver Area
Columbia Property Trust Inc. secured a new commitment from engineering and construction firm CH2M with the signing of a 370,000-square-foot lease renewal at Columbia’s 478,000-square-foot South Jamaica Street office campus in Englewood, Colo.
Blackstone Snaps up Immofinanz’s Entire Logistics Portfolio
Austrian commercial real estate company Immofinanz is shedding its entire logistics portfolio, including three dozen properties in Germany and Eastern Europe.
KeyCorp Grows Banking Portfolio in $4.1B Transaction
KeyCorp will acquire First Niagara in a cash and stock transaction valued at approximately $4.1 billion, making the parent of KeyBank the 13th largest bank in the U.S.