News
Economy Watch: Home Price Trends; Reports from the Road
Home prices were up 0.1 percent in July compared with June, the Federal Housing Finance Agency reported on Tuesday; travel on U.S. roads and streets increased 1.5 percent year over year in July, according to the U.S. Department of Transportation.
Economy Watch Weekly: Interest Rates and QE3
CPE economy editor Dees Stribling offers his roundup of key indicators for the week ending Sept. 19, with a special focus on interest rates and the demise of QE3.
Parkway Properties to Pay $475M for 22 Office Assets, Then Sell Most
The office REIT is under contract to buy a 2.1 million-square-foot portfolio of Class A assets spanning six Sunbelt states for $475 million.
Fosun, JLL Team Up to Lease NYC’s One Chase Manhattan Plaza
A year after acquiring One Chase Manhattan Plaza for $725 million, Fosun Property Holdings is nearing completion of the 2.2-million-square-foot Manhattan tower’s repositioning and has enlisted JLL to facilitate leasing.
DTZ’s Deal for Cassidy Turley Shakes Up Service Sector, Analysts Say
Buying Cassidy Turley is a good move for both the commercial real estate services firm and the international private equity investment consortium behind DTZ’s acquisition if they want to compete on a global level with CBRE Group Inc. and JLL, industry analysts and consultants said.
Oberdier Ressmeyer Entity Buys Cancer Center for Nearly $6M; Henry Turley Expands Apartments with $8.1M Investment
Memphis West Clinic LLC, an entity belonging to law firm Oberdier Ressmeyer LLP, recently purchased The West Clinic cancer center at 1580 Union Ave. and two vacant parcels for approximately $6 million. As reported by the Memphis Daily News, the seller was TN MS Owner DST, which had acquired the asset as part of a $12.1 million portfolio.
Venable Pre-Leases 250 KSF in New Washington Office Building
In the first quarter of 2017, Venable L.L.C., a national law firm, will move its Washington, D.C., headquarters to a building under construction at 600 Massachusetts Ave., N.W.
Madison International Acquires 50% Stake in Oslo Luxury Retail Center
Madison International Realty has acquired a 50 percent stake in The High Street Shopping Co., a major retail shopping development in Oslo, Norway, from Schage Eiendom.
Economy Watch: NAR Reports on August Home Sales; Chicago Fed Updates Growth Trends
Home sales dipped 1.8 percent in August, the National Association of Realtors reported, while the Chicago Fed’s growth index slipped into negative territory.
Cassidy Turley to Merge with DTZ Consortium
Cassidy Turley has entered into an agreement with an affiliate of DTZ Investment Holdings to be sold to the consortium by the end of the year.