News
New DC United Stadium to Open in 2017
D.C. is one step closer to getting a new soccer stadium. Last week, the D.C. Council approved the District of Columbia Soccer Stadium Act of 2014 in its second and final vote, green lighting the development of a new 20,000-25,000-seat stadium for D.C. United, in the District’s Buzzard Point neighborhood.
Corvex Boosts ARCP, Stock Jumps
There’s the accounting debacle, investigations and many a resignation, but the latest news from American Realty Capital Properties Inc., while gossip-worthy, is without scandal or negativity even.
Regency Centers Helps Seattle Grow with Another Purchase
Regency Centers has acquired Broadway Market, a mixed-use property in the Capitol Hill neighborhood of Seattle, from a joint venture of Madison Marquette and LaSalle Investment Management.
Economy Watch: Construction Spending, Non-Residential Building, Manufacturing, Industrial, Retail Sectors
Construction spending dropped in November, though nonresidential building was up for the year. Manufacturing was down that month but continues to grow overall—good news for the industrial and retail sectors.
Whitestone REIT Shows Keen Interest in Sugar Land
Whitestone REIT has made its first purchase in Houston since becoming publicly traded in 2010 with the purchase of a 262-square foot shopping center in the city’s desirable Sugar Land community.
Starwood Hotels Spends NYE Opening Three Hotels in China
On the very last day of 2014, Starwood Hotels & Resorts Worldwide made a big splash in its China expansion endeavor with the announcement of the opening of not one, not two, but three hotels totaling 929 guestrooms.
Toll Bros. Buys NYC Non-Profit Building for $135M
Toll Brothers can move ahead with development of another urban condo project now that it has closed on its purchase of 122 E. 23rd St., owned by United Cerebral Palsy of New York City.
Douglas Emmett Acquires 468-Unit M-F Property in Honolulu
Santa Monica-based REIT Douglas Emmett has purchased a 468-unit multi-family property in central Honolulu for $146 million.
Economy Watch: Pending Home Sales, Fannie Mae Delinquencies
The National Association of Realtors’ Pending Home Sales Index was up 0.8 percent in November month over month. Fannie Mae’s Single-Family Serious Delinquency rate rose 0.01 percent in November month over month.
Schorsch Steps Down at NYRT; Happel Steps Up
Roughly two weeks after real estate industry bigwig Nick Schorsch resigned from his position as executive chairman of American Realty Capital Properties following revelation that the AR Capital-sponsored REIT had deliberately concealed accounting errors in financial statements, Schorsch has relinquished his position as chairman of the board and CEO of AR Capital-sponsored New York REIT Inc.