News
Piquet Realty Buys Portman Realty in New York
Piquet Realty, a Florida-based luxury real estate company specializing in foreign investors, has expanded its presence in New York City with the acquisition of Portman Realty.
Economy Watch: Initial Unemployment Claims Lowest in 7 Years; Import Prices Rise, Led by Energy
For the week ending April 5, initial unemployment claims came in at 300,000, a sharp decrease of 32,000 from the previous week’s revised level. Import prices were up 0.6 percent in March, after a 0.9 percent increase in February.
Roll RE Breaks Ground on 1 MSF BTS Distribution Center in Shafter, Calif.
Roll Real Estate Development has broken ground at its Paramount Logistics Park on behalf of American Tire Distributors, with which the company signed a 1 million-square-foot lease at the 1,600-acre industrial park in Shafter, Calif.
ULI Special Report: Business Case for Resiliency
As the frequency and intensity of catastrophic natural disasters increase, the real estate community has shifted the focus on how to build and retrofit cities to withstand their impacts. Mike Ratliff reports from ULI in Vancouver.
Bijou Breaks Ground on $83M M-F Project in Hoboken
Bijou Properties joined partner Intercontinental Real Estate Corp. to break ground on a 135-unit residential project in Hudson County, which will cost $83 million to bring to fruition.
International: W.P. Carey Affiliates Pay $158M for Polish Bank HQ
W.P. Carey’s two publicly held non-traded REIT affiliates have jointly purchased the headquarters of Poland’s second largest bank, paying $158 million for the asset.
Lincoln Property, NVRetail Celebrate Groundbreaking of The Reserve at Tinner Hill
Government officials met with representatives from the Lincoln Property Company and NVRetail on Tuesday, April 8, to celebrate the groundbreaking of The Reserve at Tinner Hill. This upscale apartment and retail development is located at the intersection of South Maple Avenue and Washington Street, right in the heart of Falls Church, one of the most affluent regions in the Washington, D.C. Metropolitan Area.
Paragon Commercial, Canyon Catalyst JV Acquires 158 KSF Retail Center in Rancho Mirage, Calif.
A joint venture between the Canyon Catalyst Fund and Paragon Commercial Group has made its first retail acquisition in California – the 158,156-square-foot Rancho Las Palmas shopping center in Rancho Mirage.
Sheraton Hotels & Resorts to Open New-Build Hotel, Conference Center in Austin Suburb
A joint venture between Hines and The Novak Bros. will develop a 224-key Sheraton hotel and conference center in Georgetown, Texas, an upscale suburb of Austin.
Economy Watch: Fed Doesn’t Want to Raise Rates; Chinese Exports Dip in March
The Fed isn’t planning on raising interest rates merely based on unemployment numbers alone. Chinese exports were down for a second straight month in March.