News
GDS to Develop ‘Barely Visible’ Skyscraper in South Korea
GDS Architects got approved to build a skyscraper in Seoul, South Korea, that has been dubbed the Infinity Tower. Its design is said to create an optical illusion that makes the structure barely visible from certain angles.
FirstService Sells Field Asset Services to Assurant
Assurant has acquired 100 percent of the equity of FirstService Corp.’s Field Asset Services business. It will use the proceeds from the sale to increase its real estate business by investing in Colliers International, FirstService Residential and FirstService brands.
Economy Watch: Too Soon to Gauge Shutdown Impact; CoreLogic: Home Values Continue to Rise; Manufacturing Sector Expands
Day One of the federal government shutdown, 2013 version, passed without too much incident on Tuesday. CoreLogic reported that home prices nationwide increased 12.4 percent in August 2013 compared to August 2012. And economic activity in the U.S. manufacturing sector expanded in September for the fourth consecutive month.
Economy Watch Weekly: Pretty Good Week Economically, Ahead of Government Shutdown
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Sept. 27.
Brookfield Property Offers to Buy Brookfield Office for $5B
Brookfield Office Properties has established a special committee to review and consider the $5 billion acquisition offer made by its parent company, Brookfield Property Partners, which wants to combine its operations and create one of the largest global commercial real estate companies.
C&W, McCuen Form Property Management Partnership in Sacramento Area
Cushman & Wakefield has formed a strategic partnership with McCuen Properties, a leading real estate services firm in the area, to supply a comprehensive menu of property management offerings.
Two Projects Highlight Metro Kansas City Industrial Growth
The Kansas side of the Kansas City metro area is enjoying a surge of industrial activity, with the significant steps forward on two sizable projects.
Chambers Street Signs New Lease for 450 KSF near Charleston, SC
Chambers Street Properties has signed a 450,000-square-foot lease at Jedburg Commerce Park, a warehouse/distribution property in Summerville, S.C.
Economy Watch: Federal Government Shuts Down; Fannie Mae: Serious Delinquencies Down
Congress was unable to agree on legislation authorizing money for the continued operations of the federal government by midnight on Monday, and so a shutdown began on Tuesday, the beginning of the government’s fiscal year. Fannie Mae reported that the single-family serious delinquency rate for mortgages it owns or controls declined from 2.7 percent in July to 2.6 percent in August.
Clarion Secures $81M in Financing for Metro Atlanta Industrial Portfolio
Clarion Partners has just obtained $81 million in financing for a 3.1 million-square-foot industrial portfolio in metropolitan Atlanta.
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