News
Las Vegas Home Prices Gain Again As Market Draws Institutional Investors
As this summer’s last number should have come in by now, studies show that the Las Vegas housing market has seen its average price growth outpace the national averages once again in August. The city’s housing market is seeing consistent improvement and has been doing so for a number of months, as figures the Standard & Poor’s/Case-Shiller Index show.
Related California Proposes Massive Project as New Core for Santa Clara
Santa Clara is set to have a brand new focal point after Related California recently announced its plan to develop a large city-center-style project. The plan is currently under review by the Santa Clara City Council’s Sports and Open Space Authority, to determine whether the massive initiative will be given the green light. Should Related go ahead with the mixed-use development, the area will add a large number of residential units, office space, retail spots, dining options and jobs, all contributing to the growth of Santa Clara.
LifeStorage Opens New Facility in Chicago’s West Loop
LifeStorage has recently announced the opening of its new self storage venue in the rapidly growing, historic Chicago West Loop neighborhood.
The Chicago-based self storage provider for residential and commercial clientele, LifeStorage, was founded in 2002 with a single storage facility and has since then grown to 49 storage facilities in eight states.
Northstar Commercial Partners Acquires 21-Acre Pad Site Development Near Denver
Denver-based Northstar Commercial Partners recently announced a limited liability company, created by Northstar, has purchased a 21-acre Pad-Ready parcel of land located at 18475 West Colfax Avenue in Golden, Colorado. Northstar purchased the 21-acre property for $2.7 million on October 21, 2013.
$97 Million Target Center Renovation Announced
The city-owned Target Center is set to undergo a $97 million renovation which is scheduled to begin in 2014. An announcement of the agreement to renovate the 23-year-old Target Center was recently made by Minneapolis Mayor R.T. Rybak, City Council President Barbara Johnson, Minnesota Timberwolves and Lynx owner Glen Taylor and Target Center General Manager Steve Mattson of operator AEG.
Meridian Orchestrates $150M Financing Deal for Manufactured Housing Portfolio
Meridian orchestrated $150 million in acquisition and permanent financing for Matrix Realty Group’s $165 million purchase of a group of 11 communities, which encompasses an aggregate 5,347 pad sites in Michigan and Alabama.
Clarion Buys Student Housing Community in Tucson
Clarion Partners has acquired Retreat at Tucson, a 183-unit student housing community located in close proximity to the University of Arizona’s main campus.
Industry Veteran Gale Joins Mack Real Estate Group
Saying it was a job he couldn’t pass up, commercial real estate veteran Barden Gale has joined Mack Real Estate Group as vice chairman & member of its investment committee as the firm expands its senior team to handle increased activity in the U.S. and abroad.
Economy Watch: Case-Shiller: Continued Residential Price Hikes; Retail Sales Dip
The latest Case-Shiller home price indexes indicated rising prices in several markets. And national retail and food services sales for September decreased, slightly, by 0.1 percent compared to the previous month.
Economy Watch Weekly: Data Starts Flowing Again from Federal Government
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Oct. 25
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