News
International: DAMAC Launches New Phase at Capital Bay, New Property Management Company
One of the largest luxury real estate developers in the Middle East, DAMAC Properties, is releasing a new phase at its Capital Bay luxury multi-family project in Dubai’s CBD.
JLL, Golf Giant Norman Seek Investors for Australia’s $2B Reef Island Development
Global golfing giant Greg Norman, with the help of JLL, is spearheading a worldwide search for investors to capitalize on a $2 billion tourism project on Great Keppel Island, off central Queensland’s coast.
NorthStar, Chatham JV to Buy Hotels for $959M
A joint venture of Chatham Lodging Trust and Cerberus Capital Management is selling, and a JV of Chatham and NorthStar Realty Finance Corp. is buying, the lion’s share of a 51-hotel portfolio in a transaction worth $1.3 billion.
Economy Watch: Federal Deficit Continues to Drop; Equities Reach New Highs
The federal government’s budget deficit dropped sharply in the first seven months of fiscal 2014. And Wall Street was feeling good on Monday, even setting a record.
Old Woodridge Library Torn Down to Make Way for State-of-the-Art Facility
Mayor Vincent C. Gray and DC Public Library Executive Director Richard Reyes-Gavilan met with residents on Wednesday, May 7, to celebrate the demolition of the old Woodridge Library. It will make way for a new, modern library, able to meet the current and future demands of the community.
Avison Young Secures Sizable Investment in Germany
The fast-growing, Toronto-based commercial real estate services firm Avison Young has advised two Canadian pension funds in the acquisition and financing of a mixed-use, two-building complex in Cologne, Germany.
Mack Urban JV Breaks Ground on $50M M-U Project in Pasadena
Union Village, a new 118-unit luxury mixed-use residential project in Pasadena, has just gotten underway with a recent groundbreaking.
Clarion Buys 165 KSF Office Portfolio in San Antonio, Expands Presence
Clarion Partners has acquired University Park Tech Center III & IV, a 165,007-square-foot, Class A flex/office property in San Antonio.
Economy Watch: Americans Still Pessimistic About Economy; Number of Job Openings Down
A recent survey of Americans found that most are still relatively pessimistic about the state of the U.S. economy. The number of job openings dropped month over month.
Guest Column: Barclay Aggregated Bond Index Changes to Benefit Multi-family
Bill Hyman of Centerline Capital outlines impacts of some pending changes to the Barclays Capital Aggregate Bond Index, set to take effect on June 30.