News
Investcorp Acquires Office, Retail Assets Worth $250M
Investcorp, a global provider and manager of alternative investment products, continues an active year with the acquisition of office and retail assets in the greater Chicago, Los Angeles, Minneapolis and New York areas valued at $250 million.
Economy Watch: Residential Price Increase Still Strong; Homeownership Slightly Up in 3Q
Home prices nationwide, including distressed sales, increased 12 percent year over year in September. And the U.S. homeownership rate is up from the previous two quarters.
Forestar’s Eleven Welcomes Its First Tenants
The southeast corner of East 11th Street and Interstate 35, regarded as a gateway into East Austin, has been changed by the podium-style community developed by Forestar Group Inc. in partnership with Canyon-Johnson Urban Funds. The grand opening ceremony took place a few days ago and the first residents have already moved in.
Economy Watch Weekly: No Tapering Yet for QE3, Congress Isn’t Handling Economy Well, Fed Says
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Nov. 1.
Avison Young Expands in Metro DC with McShea Acquisition
Toronto-headquartered Avison Young’s aggressive, methodical growth plan continues as the CRE services firm increases its footprint in metropolitan Washington, D.C., with the acquisition of McShea & Co.
Brookfield Office Breaks Ground on Western Canada’s Tallest Tower
Brookfield Office Properties has begun construction on the first phase of the $1.3 billion Brookfield Place Calgary office complex in the city’s downtown core.
CBRE Buys CB Richard Ellis Carmody to Expand Reach in Southeastern U.S.
Expanding its reach in the Southeast, CBRE Group has acquired CB Richard Ellis Carmody, a Charleston, S.C.–based CRE services firm that has been a CBRE affiliate since 1997.
Economy Watch: Banks Loosen Lending Standards on Biz Loans; Mortgage Delinquencies Edge Up
U.S. banks have eased their lending policies for commercial and industrial loans, citing increased competition as the major factor. And according to LPS, 6.5 percent of U.S. mortgages were delinquent in September, up from the previous month.
Garrison General Contractors Announces Renovation of La Quinta Inn San Antonio
The La Quinta Inn & Suites – San Antonio North Stone Oak is about to receive a makeover. The hotel is part of one of the country’s largest hotel chains. The assigned construction firm is San Antonio-based Garrison General Contractors.
Seattle Set to Become More Hospitable as Kimpton Announces New Facility; Hedreen Hits Speedbump with Downtown Hotel Project
The Puget Sound area has been thriving in terms of new developments, due to massive increases in office space in the Denny Triangle where Amazon is driving growth, as well as the rise of South Lake Union as one of the hottest development spots in the entire Pacific Northwest. Now, with office projects taking off left and right, and the multifamily development pipeline ready to go until 2015 and beyond, it’s now another sector’s turn to take the spotlight. Two new hospitality projects were announced recently with an aging property in Belltown ready to be turned into a high-end property, while a brand new project will take shape in Seattle’s downtown area.
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