News
RCS Capital to Acquire Strategic Capital Cos.
RCAP has entered into a purchase agreement with Validus Strategic Capital Partners, which owns SC Distributors, a wholesale broker-dealer of alternative investments, and Strategic Capital Advisory Services.
Economy Watch: Negative Equity Continues to Drop; Most States’ Coincident Indexes Up; Fed Funds Rate to Remain Low
Negative equity has fallen for eight consecutive quarters as U.S. home values have risen. In April, coincident indexes increased in 47 states. New York Federal Reserve President William Dudley said he expects Federal Funds rates to stay low, even if the Fed hits its 2 percent inflation target.
Parkway Properties Taps Transwestern to Lease 346 KSF Office Complex in Miami
Parkway Properties has hired Transwestern to lease Courvoisier Centre, a 346,000-square-foot office building located on Brickell Key, Miami.
Economy Watch Weekly: Retail Sales Flat, but at Least the Weather’s Good
CPE‘s economic analyst, Dees Stribling, gives his update for the week ending May 16, 2014.
RECon Special Report: Retailers Seek New Horizons Amid Redevelopment, Investment Buzz
As thousands of real estate professionals swarmed the vast exhibition halls of the Las Vegas Convention Center for RECon on Monday, executives paused briefly from the hectic activity to take stock of the show and the retail sector as a whole.
Bayfair Development Grabs 10-Acre Site in Tampa Area for Development of M-F Units
Bayfair Development has acquired a 10-acre parcel to build new apartment residences, snapping up the land from REDUS Florida Land in a deal orchestrated by commercial real estate services firm Cushman & Wakefield.
Carlton Closes $100M Lower Manhattan Condo, Hotel Pre-Development Loan
The Carlton Group has arranged a $100 million pre-development loan for a hotel and condominium project on Manhattan’s Lower East Side.
Economy Watch: E-Commerce Retail Still Expanding; Commercial Property Prices Mostly Recovered; Cash Housing Sales Still High, But Dropping
E-commerce retail sales for the first quarter of 2014 increased by 2.8 percent compared with the fourth quarter of 2013. CoStar reported that its two broadest measures of pricing for commercial properties each finished the first quarter of 2014 on a positive note. Cash sales made up 40.2 percent of total home sales in February 2014, down from 43.7 percent a year ago and 40.8 percent a month earlier.
Beacon JV Acquires $100M Chicago Loop Office Tower
Beacon Investment Properties , in a joint venture with Harel Insurance, Investments and Financial Services Ltd, of Tel Aviv has bought a 23-story office tower in Chicago’s West Loop from Monroe Acquisition for $100 million.
Montgomery County’s Silo Inn Shopping Center Sells for $17M
The Silo Inn Shopping Center, a neighborhood retail center in the Olney section of Montgomery County, now has a new owner. Bethesda-based Finmarc Management, Inc. sold the property to Taylor Georgia, L.L.C., a real estate investment company headquartered in Ellicott City. The price of the transaction was $17.42 million. Over the last 22 months, Finmarc has disposed of more than $367 million worth of properties.
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