News
Matan Cos. Buys Office Campus in Germantown, Md., from MEPT for $128M
Matan Cos., through its Matan Fund IV, has acquired Milestone Business Park, a 42-acre campus in Germantown, Md., from Multi-Employer Property Trust for $128 million.
Wood Partners Announces Changes to Board of Directors, Executive Team, Investment Committee
One of the nation’s top multi-family developers, Wood Partners is planning more than $1 billion in construction this year, but will do it with some leadership changes, including a new chairman of the board and president.
Economy Watch: World Economic Forum: Income Disparity Top Risk; Residential Foreclosures Dropping in California
According to the World Economic Forum’s report, the chronic gap between the incomes of the richest and poorest people is the risk that’s most likely to cause serious damage globally in the coming decade. The number of California residential properties pulled into the formal foreclosure process dropped to an eight-year low last quarter.
Dermot Co. Trades 3-Property Upper Manhattan M-F Portfolio
The Dermot Co. Inc. closed 2013 with the disposition of a group of three multi-family properties in Manhattan’s Inwood neighborhood.
Economy Watch Weekly: Better U.S., World Growth Predicted for 2014
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Jan. 17.
GLP to Develop 3 Large-Scale Logistics Facilities in Greater Tokyo
Global Logistic Properties Ltd. (GLP) has announced it is beginning construction on three major multi-tenant logistics facilities in Greater Tokyo.
Bentall Kennedy Sells 173 KSF Highlands Corporate Center in Metro Seattle
Highlands Corporate Center, a 173,250-square-foot property consisting of three office/life sciences buildings in Bothell, Wash., has been sold by Bentall Kennedy to Clise Properties.
Economy Watch: Consumers a Bit More Grumpy in January; Fed Still on the Tapering Track? Asian Markets Drop, Euro-Markets Static
The Reuters/University of Michigan consumer sentiment index dropped 2.1 points from the end of December. The Wall Street Journal reported that the Federal Reserve is “on track” to announce another reduction in QE3 bond-buying. In Asia, shares were generally down on Monday. In Europe, Germany’s DAX dropped 0.3 percent, with Deutsche Bank leading the decline (down 5.4 percent), because the banking giant took an unexpected loss in the fourth quarter.
Welcome Home Center Open in Wortham Oaks by Lennar San Antonio
A new Welcome Home Center is open in North Central San Antonio, at 22307 Akin Doe. Lennar, one of the nation’s leading homebuilders, introduces the Oak Knoll Collection in Wortham Oaks.
Vancouver Apartment Community, Portland Industrial Facility Trades Mark Week
The Pacific Northwest has had a good week as a number of deals perfected across the region continue to indicate the fact that the local real estate market is currently thriving. A recent press statement announced the acquisition of The Villas at Bridge Creek, an apartment complex in Vancouver, WA, by Peak Capital Partners from seller Kingsbury LLC. This week also saw a deal perfected for the Portland Terminal Facility, as CorEnergy Infrastructure Trust, Inc. paid a fee of $40 million for the property.
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