News
Perennial RE Holdings, Asia RE Income Fund Buy Office Property in Singapore for $766M
As the curtain was ready to draw on 2013, a number of major commercial real estate transactions were completed to beat the buzzer, one of them Perennial Real Estate Holdings and the Asia Real Estate Income Fund’s purchase of a major office property in Singapore. The pair paid $766 million to Pacific Star Group for the property.
Economy Watch: Building Confidence Down; Apartment Market a Little Weaker; Foreclosures Drop in ’13
Homebuilder confidence edged down a bit, dropping one point this month. U.S. apartment market conditions weakened a bit at the beginning of the first quarter of 2014 compared with three months earlier. And foreclosures dropped 26 percent in 2013.
Connor Group Pays $17M for Columbus M-F Asset
The Connor Group ended 2013 in force, adding another property to its Columbus portfolio. The Centerville-based real estate investment firm acquired the Lennox Flats for $17 million. Kinnear Road Redevelopment, LLC was the seller.
Residential Market’s Strong Finish Points To More Gains in 2014
Las Vegas finally had a full good year in terms of its housing market prices. The end of 2013 marked continued gains for the local market, as data issued by the Greater Las Vegas Association of Realtors indicates. December saw prices rising once again, prepping the new year, which according to industry specialists, will one of steadier gains, and stabilization.
After Manhattan’s Banner 2013, Experts Await an Encore
“I think we can cheer about 2013 and feel pretty good about 2014.” That was how Ron Lo Russo, president of Cushman & Wakefield Inc.’s New York Tri-state region, summed up the outlook Tuesday morning at a briefing in Midtown Manhattan.
Breaking News: Time Warner Sells 1.1 MSF Office Space to Related Cos.
Time Warner Inc. has sold the 1.1 million square feet of office space it owns in Time Warner Center for $1.3 billion to a venture of Related Cos. and GIC.
First Courtyard by Marriott Hotel Opens at Philadelphia Navy Yard
As the Navy Yard Corporate Center keeps growing and adding new businesses, the hospitality industry follows the same positive trend in this thriving business campus in South Philadelphia.
Revamped Cobo Center Shines Bright at Detroit Auto Show
With the 2014 Auto Show in full swing, Detroit’s painful financial decline that reached a climax last summer with the historic filing for bankruptcy seems like never really happened.
Developers Invest $19M in Acquisition and Renovation of Moorehead Tower in Pittsburgh
Beacon Communities Development LLC of Boston has partnered with local firm Ralph Falbo Inc. to purchase and renovate the Moorehead Tower, an iconic 141-unit affordable senior housing property in Oakland.
LaSalle Investment Management Buys West End Village for $51M
The recently-finished 244-unit West End Village, a high-density luxury apartment complex in Nashville’s West End has been sold for $51.25 million, or $210,000 per unit