News
ARC NYRR Appoints Prez, CFO/COO
American Realty Capital New York Recovery REIT, which is scheduled to go public later this year, has promoted Michael Happel to president and appointed Gregory Sullivan as its new CFO and COO.
NorthStar to Buy $1B Healthcare RE Portfolio from Formation Capital, Safanad
NorthStar Realty Finance, which has been growing its healthcare real estate holdings since former HCP chairman & CEO James “Jay” Flaherty came on board in January, has agreed to acquire a $1 billion seniors housing and skilled nursing portfolio from Formation Capital and Safanad Ltd.
Economy Watch: Housing Starts Stagnate in February; Inflation Still Subdued, but Meat’s More Expensive
Housing starts in February came in at below 0.2 percent compared to the revised January estimate. Inflation continues to be a toothless tiger, but an increase in the price of food, particularly meat, accounted for more than half of the all-items increase in February.
Chilean Developer Builds First U.S. Project: 185 KSF M-U Facility in Miami
Chilean company Red Megacentro is tapping into the U.S. market with its very first American redevelopment project, a 185,000-square-foot mixed-use facility in Miami.
Economy Watch Weekly: Retail Sales Up; Service-Sector Businesses Doing Better
CPE’s economic analyst, Dees Stribling, gives his update for the week ending March 14.
KB Home Announces New Community of Built-to-Order Homes in New Braunfels
This summer, New Braunfels will make room for a new construction site that will offer to homebuyers 469 Built to Order homes in a new community called West Village at Creekside. The grand opening is scheduled for January 2015.
350KSF Phase I of Fremaux Town Center Opens in Slidell
Phase I of Fremaux Town Center, the much-awaited retail development in Slidell, has celebrated its grand opening.
Master-Planned Residential Community Unveiled by Developer UCP South of Puget Sound
A huge master-planned community was recently unveiled at the southern end of the Puget Sound. San Jose-based UCP Inc., a company dealing with homebuilding and land development announced its The Preserve at Turnwater Place in Turnwater, Washington. This will be the developer’s first selling community in the state’s real estate market.
City of Cleveland Selects Lakefront Developers
Cleveland’s lakefront has seen little major construction since the late 1990s. However, this is about to change. Last week, Mayor Frank G. Jackson’s Lakefront Development Advisory Committee has selected a developer for the 28 acres at the water’s edge. The project is expected to breathe new life into the area and provide an economic boost for the city.
Eagle Realty Group Hires Cassidy Turley to Lease Queen City Square in Cincinnati
Located in the heart of Cincinnati’s Central Business District, Queen City Square is the city’s premier business center, its newest and most prominent downtown development. It was constructed by Eagle Realty Group, a member of Western & Southern Financial Group, and now its owners have hired Cassidy Turley to find tenants for the remaining space in the $400 million complex.
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