News
Economy Watch: RE Investment Still Lagging; CoreLogic Sees Upward Momentum in Home Prices; Trade Deficit Edges Down
Investment in both residential and commercial real estate – as a percentage of GDP – has been slowly recovering since the worst of the recession, but no category of real estate is yet at the rate of investment of previous decades. Home prices nationwide increased 11.1 percent in March 2014 compared with the same month a year earlier. Also in March, the country experienced a trade deficit of $40.4 billion, down from $41.9 billion in February.
Economy Watch Weekly: April’s Solid Jobs Report
CPE’s economic analyst, Dees Stribling, gives his update for the week ending May 2, 2014.
The NYC Affordable Housing Plan: The Complexities of a $41B Endeavor
New York City Mayor Bill de Blasio’s new $41 billion affordable housing plan, Housing New York: A Five-Borough, Ten-Year Plan, covers a lot of ground. And it has to. Here are some specifics and how they could be accomplished.
NYC Mayor “Thinks Big” with New $41B Affordable Housing Plan
New York City Mayor Bill de Blasio has unveiled his $41 billion plan for addressing the ever-increasing need for affordable housing — for both low- and middle-income individuals — in New York City. The Housing New York: A Five-Borough, Ten-Year Plan is an ambitious endeavor, to say the least.
Reis Launches Enhanced Coverage of Seniors Housing Sector
Reis Inc. will launch the nation’s first independent coverage of the seniors housing sector, offering full analytical reports covering independent living, assisted living, memory care and skilled nursing in 184 submarkets in 57 major U.S. metros.
Spear Street Capital ID’ed as Buyer of BlackBerry Portfolio
Spear Street Capital L.L.C., announced yesterday as the buyer of the majority of BlackBerry’s Canadian real estate holdings, brings its substantial experience in taking over corporate offices that have become excess to requirements.
Economy Watch: Underwater Mortgages Drop, Non-Manufacturing Sector Expands
Black Knight released its Mortgage Monitor report for March yesterday, reporting a decrease in delinquent U.S. residential mortgages over the previous month. And economic activity in the non-manufacturing sector was up again in April, according to the Institute for Supply Management.
Washington Real Estate Investment Trust Buys Downtown Washington, DC, Office Building for $104.5M
Washington Real Estate Investment Trust continues its buying spree in downtown Washington, D.C. The Rockville-based real estate investment trust announced on May 1 it has acquired the office building at 1775 Eye Street, NW, in the city’s Central Business District. The property changed hands for $104.5 million.
Hersha Hospitality to Pick Up Parrot Key Hotel in Key West for $100M
Hersha Hospitality Trust has entered into an agreement to purchase Parrot Key Hotel & Resort in Key West, Fla.
Washington REIT Acquires DC Office Building for $105M
Washington Real Estate Investment Trust has acquired 1775 Eye St., N.W., a 185,000-square-foot office building in Washington, D.C.’s Central Business District, for $104.5 million.