News
Laurus Buys 25-Story Office Tower in Baltimore’s CBD
Los Angeles-based private real estate investment and development firm Laurus Corp. has purchased its first Baltimore office building with the acquisition of 294,274-square-foot 36 S. Charles St.
Economy Watch: ADP: Strong December Showing for Private-Sector Employment; FOMC: Tapering Will Proceed
U.S. private employers created 238,000 jobs in December, which was more than expected. And the Federal Open Market Committee released the minutes of its Dec. 17-18 meeting, which confirmed that the tapering of bond-buying was going to proceed in January.
Executive Spotlight: Stephanie Berman-Eisenberg, Carrfour Supportive Housing
Stephanie Berman-Eisenberg, president & CEO of Carrfour Supportive Housing, is leading this non-profit’s efforts to provide housing to the homeless in Miami-Dade County, Fla.
Capri Acquires Stamford Luxury Residential Building for $135M
Capri Capital Partners has acquired 101 Park Place at Harbor Point, a Class-A core multi-family asset located in Stamford, Conn., on behalf of an institutional investor.
ASB Acquires 4 Retail Properties in Boston for $91M
ASB Real Estate Investments, acting on behalf of its $3.1 billion Allegiance Real Estate Fund, recently joined forces with real estate firm Blatteis & Schnur to plunk down $91.2 million in cash on the acquisition of a collection of four retail-office buildings totaling approximately 51,250 square feet in the ritzy Back Bay neighborhood of downtown Boston.
SPECIAL REPORT: Prudential Sees Economy Heating Up in 2014
Prudential expects the economic recovery in U.S. to gain momentum in 2014.
Behringer Harvard Rebrands as Part of New Strategic Plan
Behringer Harvard has launched a rebranding initiative that will include streamlining the company name to Behringer, resulting in a new strategic direction for the company.
Marriott Opens Tallest Hotel in NYC
Double good news for Marriott International: Not only did it officially open its doors yesterday to the tallest hotel in New York – a 68-story property that climbs nearly 753 feet into the skyline at Broadway and 54th Street – but also the combination Courtyard by Marriott/Residence Inn joined a growing trend of dual-branded hotels nationwide.
Mitsui Fudosan Develops 202 KSF Office Property in San Francisco
Looking to take advantage of the hot tech market in San Francisco, Mitsui Fudosan America has formed a joint venture with SKS Partners to develop a 202,000-square-foot Class A, speculative office building at 270 Brannan St. near Second Street in SOMA’s historic South Beach district.
Economy Watch: Home Prices Up Annually, Barely Move Monthly; Oil Production to Rise, Gas Prices to Fall
Home prices nationwide increased 11.8 percent in November 2013 compared to the same month a year earlier. On a month-over-month basis, however, the pace home price increases seems to indicate that the upsurge is slowing down. And according to the Energy Information Administration, next year domestic crude oil will reach the highest level in more than four decades, which is also expected to help drive the price of gas down in the United States.