News
Prologis Signs 2 Build-To-Suit Agreements in Europe
Prologis has signed two new agreements for build-to-suit projects totaling 244,000 square feet in the U.K. and Poland.
Pinnacle Group Buys Out Hudson Realty in $208M Deal
Real estate investment firm Pinnacle Group has bought out the interests of its equity partner, Hudson Realty Capital, in 26 apartment buildings in Brooklyn for $208 million.
Economy Watch: Homebuilders Less Glum; Industrial Production Recovers from Winter Blahs; Rhode Island Tops BLS Jobless Rankings
Builder confidence in the market for new single-family homes rose one point in March to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index. Industrial production increased 0.6 percent in February after having declined 0.2 percent in January. Rhode Island had the highest unemployment rate among the states in January.
Global Ministries Acquires Low-Income Senior Housing for $12M
Global Ministries Fellowship (GMF), a faith-based relief and development group, has purchased the 396-unit Serenity Towers in Memphis, which serves low-income elderly and disabled residents, mostly family households.
Ariel: January NYC M-F Sales Show Strong Start to 2014
Multi-family transactions will continue to dominate the scene in the Big Apple on a grand scale in 2014, according to Ariel Property Advisors’ Multifamily Month in Review for January.
MIPIM Special Report: Office & Historical Buildings to Hotel Conversions
During the hotel conversion workshop held at MIPIM 2014 in Cannes, Gwenola Donet, who heads the French team of Jones Lang LaSalle Hotels & Hospitality Group, talked about the main drivers of a successful hotel conversion project.
Amazon to Open 4th 1 MSF Fulfillment Center in Kent, Wash.
Amazon.com will open its fourth fulfillment center in the state with the development of a 1 million-square-foot facility in Kent, Wash.
Hyatt Hotels Opens Second Property in Puerto Rico
Hyatt Hotels Corp. held an official ribbon-cutting event for its new Hyatt Place Manati, the second property operated by the company in the municipality of Bayamon.
Kilroy Grabs Premier Life Science Property in Seattle for $106M
Kilroy Realty Corp. has bought a four-story, LEED Gold–certified life science property at 401 Terry Ave. N., in Seattle’s South Lake Union submarket, from the building’s developer, Vulcan Real Estate.
Economy Watch: Consumers Grumpier; PPI Drops Slightly
The Reuters/University of Michigan consumer sentiment dropped 1.7 points mid-month, compared to the end of February. The Producer Price Index for “final demand” fell 0.1 percent in February.