News
Indcor Grabs 7 MSF Multi-Market Portfolio
IndCor Properties acquired a 7 million-square-foot portfolio of industrial properties located in the key markets of Reno, Las Vegas, Chicago and Southern California.
Record-Breaking Land Deal Completed in Central L.A., Set to Become the Site of New LEED-Certified Industrial Complex
The Los Angeles real estate market recorded a milestone recently as the largest land deal in over a decade in the central area of the city was completed when Pacific Industrial, LLC acquired a large plot of land from the City of Bell. The purchase was announced by the local office of commercial real estate services provider, CBRE.
DevMar, Burton-Katzman to Bring Luxury Multifamily Complex to Plymouth
DevMar Development LLC and Burton-Katzman LLC are on track to build the first multifamily complex in Plymouth in almost ten years as the city Planning Commission unanimously approved a new luxury development along Plymouth Road near North Holbrook in the historic Old Village area.
Steadfast REIT Launches New Apartment REIT
Fresh off the success of its first multi-family REIT, Steadfast REIT Investments is launching its second, Steadfast Apartment REIT, and beginning an initial public offering of $1.1 billion in common stock for the new REIT.
Economy Watch: Construction Spending Edges Up; Unemployment Claims Tick Down
U.S. construction spending during November came in 1 percent higher than the revised October estimate. But initial unemployment claims decreased by 2,000 from the previous week.
Chinese Developer to Spend $200M on 4.6-Acre Site in Downtown LA
The Los Angeles real estate investment community is abuzz with news of Oceanwide Real Estate Group’s pending acquisition of Fig Central, a 4.6-acre entitled development site located downtown, just across from Staples Center and the multibillion-dollar L.A. Live entertainment destination.
Brookwood Buys 360 KSF Office Property in Dallas
Brookwood Financial Partners has acquired Heritage Square I & II, a two-building, multi-tenant office property in Dallas.
ARCP to Become Self-Managed Following Closing of ARCT IV Merger
Just days after its $3.1 billion merger with American Realty Capital Trust IV was finalized and weeks before its $11.2 billion acquisition of Cole Real Estate Investments is completed, American Realty Capital Properties, Inc. will become self-managed on Jan. 8.
Economy Watch: Case-Shiller: Home Prices Up in October; Consumer Confidence Spikes in December
S&P Dow Jones Indices released its October S&P/Case-Shiller Home Price Indices, showing both the 10-city and 20-city composites posting year-over-year gains of 13.6 percent. The Consumer Confidence Index, which had decreased in November, rebounded in December.
Hilton Opens Home2 Suites Extended-Stay Hotel in South Jordan
As 2013 draws to a close, Salt Lake City is gearing up for a good year, with reports projecting the city’s residential market as one of the fastest rising in the entire U.S. However the end of the year has seen one of the more low-key sectors of the area’s real estate market finish on a high note as Hilton announced the opening of its Home2Suites by Hilton Salt Lake City/South Jordan. The facility is under the ownership of South Jordan Hotel Ownership, LLC, with management duties handled by Widewaters Hotels LLC.