News
Economy Watch Weekly: Biggest Stories of 2013
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Dec. 27
Behringer Harvard Teams With PGGM on $300M Co-Investment Agreement
Behringer Harvard Multifamily REIT I has entered into a new $300 million arrangement with PGGM Private Real Estate Fund to co-invest in multi-family communities.
Spitzer’s RE Company Spends $88M for Manhattan Property
Former New York Governor Eliot Spitzer has wrapped up a notable Manhattan purchase for the family real estate firm, Spitzer Enterprise — 511 W. 35th St., a 17,281-square-foot development site at the burgeoning Hudson Yards, from Alloy Development in a speedy $88 million transaction.
Liberty Property Trust Closes $368M Sale
Liberty Property Trust has closed on the sale of 49 properties totaling 4 million square feet of space and 140 acres of land for a total of $368 million.
Economy Watch: Pending Home Sales Edge Up; LPS: Home Prices Rise Slowly in October
The National Association of Realtors’s pending home sales index inched up to 101.7 in November from a downwardly revised 101.5 in October. And Lender Processing Services reported that its index for U.S. home prices increased 0.1 percent in October.
Ohio Development Services Agency Awards $20M in Ohio Historic Preservation Tax Credits to Five Northeast Ohio Projects
On Dec. 20, the Ohio Development Services Agency awarded $33 million in Ohio Historic Preservation Tax Credits to rehabilitate 31 historic buildings in 10 communities across the state. Five of these projects are located in Northeast Ohio.
Economy Watch: Extended Unemployment Benefits Lapse; Freddie Mac Delinquency Rate Still Dropping
Extended unemployment benefits expired over the weekend and wasn’t extended as part of the budget deal passed by Congress a few weeks ago and signed into law by President Obama on Friday. Freddie Mac’s single-family serious delinquency rate dropped to 2.4 percent in November from 2.5 percent in October.
HFF Arranges $115M in Financing for M-F Development in Boston
The developers of One Greenway, a Class A multi-housing property that just broke ground along the southern end of the Rose Kennedy Greenway in Boston’s Chinatown, have received $115 million in financing.
Lowe JV Buys 2 Class A Office Buildings in Phoenix for $51M
Frequent partners Lowe Enterprises and J.P. Morgan Asset Management have joined forces on the acquisition of a two-building, 327,300-square-foot office portfolio in metropolitan Phoenix. The partnership acquired the Class A office properties from CJK Investments for an aggregate $51 million.
ARC NYRR Buys Institutional-Quality Manhattan Office for $529M
American Realty Capital New York Recovery REIT now owns more than $2.1 billion in assets topped off by the $528.6 million acquisition of the fee simple interest in 1440 Broadway, a 25-story office building in the Times Square South submarket of Manhattan.
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