News
Keystone JV to Buy 2 MSF Office Portfolio for $231M from Mack-Cali
Keystone Property Group and Mack-Cali Realty have joined forces again, committing to the establishment of various joint ventures through which Keystone will acquire a 2.3 million-square-foot Tri-State office portfolio from Mack-Cali in a transaction valued at $231 million.
Ashford Hospitality Prime Acquires Chicago Hotel for $153M
Ashford Hospitality Prime has acquired a 415-room hotel in the desirable Gold Coast submarket of Chicago from The Blackstone Group for $153 million.
Tesla Eyes 4 States for $5B Battery Factory
Four Southwest states – Texas, Arizona, New Mexico and Nevada – are in the running to be the home of Tesla Motors’ $5 billion “Gigafactory” that would mass produce lithium-ion batteries for electric cars and create 6,500 jobs.
Economy Watch: Mortgage Delinquencies Dropping; Yellen: Tapering Will Continue; 4Q GDP Numbers Released
The U.S. mortgage delinquency rate decreased more than 10 percent year over year. Janet Yellen testified before the Senate Banking Committee, hinting that the tapering will continue unless “significant” change in outlook takes place. Real gross domestic product grew 1.9 percent in 2013, a drop from the 2.8 percent uptick recorded in 2012.
Equity Sells 2 Suburban San Francisco Office Properties for $100M
Equity Office Properties Trust has been in a selling kind of mood in certain locations and it recently pocketed $100 million on the disposition of two office assets totaling 212,900 square-feet in Marin County, across the bay from San Francisco.
Rewe Opens First Passive House-Certified Supermarket in Germany
German retail giant Rewe Group debuted its most ambitious project to date, opening its first Passive House-certified supermarket.
USGBC: Top 10 States for LEED Green Building
A 57-story, 1.3 million-square-foot Class A office tower in Chicago has earned Platinum and Gold LEED certifications from the U.S. Green Building Council.
RFR, Vanke Break Ground on Luxury Condo Tower in Manhattan
RFR Holding and Vanke, China’s largest residential developer, broke ground Tuesday on 610 Lexington Ave., a luxury residential condominium on East 53rd Street in Midtown Manhattan.
Economy Watch: New Home Sales Spike in January; Bank Health Improves in 4Q
New home sales increased by 9.6 percent in January, compared to December. And U.S. commercial banks and savings institutions reported aggregate net income of $40.3 billion in the fourth quarter of 2013, up 16.9 percent compared with the same period a year ago.
HFF Arranges Financing for $361M Purchase of Chicago Office Property
HFF did double duty for 10 and 120 South Riverside Plaza, a 1.4 million-square-foot office complex in Chicago.