News
PANYNJ Report: Sell Assets, Limit CRE Investment Not ‘Integral’ to Transportation
The Port Authority of New York and New Jersey manages a real estate portfolio with more than 12,000 acres of land as well as 45 million square feet of office, industrial and retail space. But unless those assets move people or cargo, they are soon likely to have a for sale sign slapped on them.
XLD Buys LAX Marriott in L.A. from Diamondrock Hospitality
XLD Century has acquired the LAX Marriott, an 18-story hotel in Los Angeles, from Diamondrock Hospitality Co. for $160 million.
Economy Watch: Residential Price, Consumer Confidence
Recent data points to a continued deceleration in home price appreciation. The Consumer Confidence Index, which had declined in November, improved in December.
INTERNATIONAL: Hines Buys Back Industrial Property in Guadalajara
International real estate company Hines has purchased back Parque Industrial Tecnológico II in Guadalajara, Mexico, from Union Investment, to whom it previously sold the property back in 2007.
Economy Watch Weekly: Economy Ends Year on Positive Note
Economy writer Dees Stribling offers his weekly roundup of indicators for the week ended Dec. 26.
Broadtree Homes Expands Atlanta-Area Portfolio with Acquisition from The Dominion Group
Private real estate investment entity Broadtree Homes has added to its single family portfolio in Atlanta with the recent acquisition of a slew of homes in the market. The entity managed by Broadstone Real Estate LLC closed on the purchase of 24 single family rental homes from The Dominion Group, for a fee of around $2 million. The deal was completed on the 22nd of December, making it one of the final moves for Q4 to be closed by the company, with a deal currently in the works for another home to be added before the end of 2014. According to the announcement, Broadtree is currently looking to further its investment portfolio in the Atlanta area, as well as the United States.
Target Takes 900 KSF in Memphis
New leases, build-to-suit leases, lease expansions–big-box retailers are staking claim to big chunks of space outside of the leading markets, and Target’s commitment to a 900,000-square-foot facility in Memphis is among the latest transactions.
CNL Healthcare Acquires 9 Medical Office Buildings
CNL Healthcare Properties has acquired from developer Meadows & Ohly a portfolio of nine Class A medical office buildings for $238 million.
Transwestern Increases M-F Focus: Teams with Amstar to Build Apartments in San Antonio
A plan to build a 229-unit, Class A apartment building in San Antonio with Amstar, is part of Transwestern Development Co.’s increased focus on multi-family projects.
Economy Watch: Home Price Increases, Gas Prices
U.S. residential prices were up only 0.1 percent month over month in October. The national average for gas prices has fallen 95 days in a row.
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