News
Economy Watch: Home Sales Edge Down in February; U.S. Banks Pass Fed Stress Tests; Conference Board’s Leading Indicators More Positive
Existing home sales dropped by 0.4 percent month over month in February. The Federal Reserve reported that almost all of the 30 largest banks in the U.S. passed its stress tests. And the Conference Board’s Leading Economic Index for the U.S. increased 0.5 percent in February.
Affordable Solar Announces Projects for Three Businesses in Albuquerque
Albuquerque-based Affordable Solar provides solar project design, project development, construction, distribution, and solar integrator support since 1998. Ever since, the company has supplied over 15,000 PV systems to various properties in 96 countries.
Jaylor Services Gets $65M in Financing for Burger King Portfolio
Affiliates of Jaylor Services are set to get $65 million in financing, courtesy of Ladder Capital, for a 99-property Burger King portfolio located throughout six states.
Related, Oxford Start Construction on NYC’s $700M Hudson Yards Eastern Platform
New York City’s $15 billion, 28-acre Hudson Yards mixed-use project moves closer toward realization with the commencement of construction of the Eastern Platform.
Pivotal Group Sells 3,000-Plus Apartments in West Texas
An affiliate of the Pivotal Group has sold a 21-community, 3,128-unit portfolio of Class B apartments in West Texas to the Related Cos.’ Related Real Estate Recovery Fund.
Paulson & Co. Acquires 2 Oceanfront Resorts in Puerto Rico for $260M
New York-based investment firm Paulson & Co. has purchased a majority interest in the Condado Vanderbilt and La Concha Renaissance Hotel and Tower in San Juan, Puerto Rico.
First Hospitality JV to Redevelop Chicago’s Famed Purple Hotel
First Hospitality Group has entered into a joint venture with North Capital Group to reinvigorate Chicago’s iconic Purple Hotel into the new SpringHill Suites Lincolnwood.
Economy Watch: Tapering, Low Interest Rates Continue; State Coincident Indexes Almost All Up
Come April, the Fed is going to knock another $10 billion off of its asset purchases through tapering. The coincident indexes for 48 states increased month over month in January 2014.
John Manning: Great Opportunities in Condos
John Manning, managing director, capital markets, at JLL, discusses the current apartment development cycle, the condominium market, and apartment investment sales in San Francisco.
HFF Secures $74M in Financing for 295 KSF Property in Coral Gables, Fla.
The premier 295,000-square-foot office and retail property known as 4000 Ponce/The Collection Building just outside of Miami in Coral Gables, Fla., has been refinanced to the tune of $74 million.