News
Pillar Financial to Acquire Cohen Financial by Year-End
In a deal that’s expected to close by year’s end, longstanding real estate capital services firm Cohen Financial will become part of Pillar Financial, an affiliate of Guggenheim Partners, Guggenheim announced Friday.
Economy Watch: Majority of States See Unemployment Rate Drops, as Does Thanksgiving Travel; U.S. Awaits Data on Housing Starts
The Bureau of Labor Statistics reported on Friday that 28 states had unemployment rate decreases in October compared to September, fewer than last year. Meanwhile, this week will see a decrease from last year’s peak in Thanksgiving travel despite lower gas prices, and statisticians are still playing catch-up with housing starts data post-shutdown.
Gebhardt Expands Scope of $65M Madison Mixed-Use Plan; Bear Eyes 150 M-F Rental Units in Kenosha
Gebhardt Development is planning the construction of a $65 million mixed-use project on the 800 block of East Washington Avenue in Madison.
Enel Green Power Kicks Off $250M Wind Project in Murray, Carter Counties
Enel Green Power S.p.A. has started construction work, through its subsidiary Enel Green Power North America Inc., on a wind power project located in Murray and Carter Counties, Oklahoma.
Mark-Taylor Breaks Ground on Gilbert M-F Community; Crescent Kicks Off $61M M-F Project in Scottsdale
Mark-Taylor, Inc. recently broke ground on San Privada, a 296-unit luxury rental community in Gilbert.
CIM Launches Downtown3rd Entertainment District After Makeover
By Alex Girda, Associate Editor Notwithstanding the struggles experienced by the Las Vegas residential market in recent years, the area is getting repeated reminders that its entertainment, hospitality and gaming sectors are bouncing back nicely. A recent case in point is the makeover of Downtown Grand Las Vegas. Renovated and re-branded Downtown3rd by its developer, […]
Mesa West Closes Debt Fund with $752M
Mesa West Capital got more than it expected when it closed its Mesa West Real Estate Income Fund III L.P.—$102 million more, to be precise. The debt fund manager raised a total of $752 million in equity commitments, outdoing its target of $650 million.
TIAA-CREF, CNP Assurances Form $1.2B JV for German Retail Properties
TIAA-CREF and CNP Assurances have formed a joint venture to invest $1.2 billion in three retail properties in Germany.
Bell Partners Acquires Apartments in Raleigh for $46.8M, Sells in Chapel Hill
Apartment investment and management company Bell Partners Inc. of Greensboro has recently purchased The Woodlands at Wakefield Plantation, a 360-unit multi-family community in north Raleigh, which it renamed Bell Wakefield. According to the Triangle Business Journal, an entity managed by Altman Development Corp. of Boca Raton, Fla. sold the property for $46.8 million.
Jones Day Consolidates Offices into Lower Manhattan
Jones Day is making a bet on Lower Manhattan. The global law firm signed a 20-year, 330,210-square-foot lease that consolidates three New York City locations onto floors 27 through 34 of Brookfield Place.