News
Global Law Firm Leases 200 KSF at Chicago’s Willis Tower
Global law firm Seyfarth Shaw has agreed to lease about 200,000 square feet at the 110-story Willis Tower in downtown Chicago in a 15-year-deal that will boost the iconic skyscraper’s occupancy past 90 percent.
Economy Watch: Existing Home Sales Edge Down in March; Mortgage Delinquencies Continue to Drop
Total existing home sales dropped 0.2 percent to an annualized rate of 4.6 million units in March. The percentage of delinquent U.S. mortgage loans was 0.4 percent down in March month over month.
Executive Insights: Jihane A. Boury, Harwood International
Harwood International’s Jihane Boury talks about master-planning of the district of HARWOOD in Uptown Dallas.
Capitol Real Estate Development Secures $5M Loan for Housing Development in Congress Heights
After years of bad luck, a residential project looking to bring condominiums and townhouses to Washington, D.C.’s Congress Heights area is finally getting ready to take off. LYNK Capital, LLC has recently closed a $5 million loan for Woodcrest Holdings, LLC, a subsidiary of Capitol Real Estate Development, LLC, the project’s developer. The loan will be used to finance the construction of Phase 1.
Economy Watch Weekly: Retail Sales Up; Federal Budget Deficit Down
CPE’s economic analyst, Dees Stribling, gives his update for the week ending April 18.
CBRE Arranges $142M Loan for 4 MSF Industrial Portfolio in Georgia, Nevada, Texas
KTR Industrial Fund III, an investment vehicle of KTR Capital Partners, has just reeled in $142 million of financing for a 4.3 million-square-foot portfolio in Georgia, Nevada and Texas, courtesy of a helping hand from CBRE Capital Markets’ Debt & Structured Finance group.
International: Prologis Japan Inks 211 KSF Lease for In-Development Osaka Facility; Receives 2 Awards
Prologis has completed a new leasing agreement for a total of 211,000 square feet of space at its Prologis Park Osaka 5. The owner, operator and developer of industrial real estate has also received two awards for its Nippon Prologis Real Estate Investment Trust.
Concord Hospitality Sells 13-Hotel Portfolio for $240M
Concord Hospitality Enterprises has sold a portfolio of 13 premium-branded, select-service hotels to companies owned by a global investment fund for approximately $240 million in an all-cash transaction.
Hudson Pacific to Expand Hollywood Studios with 315 KSF Office Tower
Hudson Pacific Properties is slated to start construction of Icon at Sunset Bronson Studios, a 14-story, 315,000-square-foot high-tech office building in Hollywood, next door to the former Warner Bros. headquarters.
Economy Watch: Leading Economic Indicators Spike in March; Chicago Fed: Economy Still Growing Above Historic Average
The Conference Board reported that its Leading Economic Index was up in March by 0.8 percent. And the Chicago Fed National Activity Index’s reading in March suggests economic expansion is still above historical trends.
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