News
Economy Watch: Fed Says No Tapering Yet; Housing Starts Rise
The Fed said it is postponing the start of the wind down of its massive monetary stimulus, waiting for more solid evidence of economic growth. And private housing starts were 0.9 percent higher in August than the previous month.
Cassidy Turley: Positive Signs for NYC Office Market
Cassidy Turley released its August Manhattan Office Report and its findings revealed that the summer ended on a high note.
UGL Taps JLL Alum Lickerman as DTZ CEO
Former JLL CEO of Corporate Solutions Americas Tod Lickerman was appointed as DTZ Global CEO, replacing outgoing DTZ Group president Robert Shibuya come Oct. 14.
Brookfield Sells 620 KSF Suburban Dallas Office Campus to GI
The one-year office flip is not as common as it was before the real estate market downturn but it still happens, and Brookfield Asset Management’s Brookfield Real Estate Opportunity Fund II recently completed just such an endeavor with the disposition of Regent Commons in Irving, Texas.
Greystone Closes on $117M Portfolio for Affordable Housing
WWJ, an affiliate of Boyd Management, has acquired the aged USDA Rural Development Section 515 portfolio, with Greystone closing on the $117 million multi-family transaction to allow for major rehabilitation to preserve rural housing communities in the state of Georgia.
JLL, LiquidSpace Collaborate on Space Exchange Platform
Jones Lang LaSalle is launching Space Exchange, a new online service matching short- and medium-term corporate real estate needs with on-demand workplaces aimed at serving today’s increasingly mobile workers and managing underutilized office portfolios.
Economy Watch: Inflation Barely a Whisper; Homebuilders’ Optimism Status Quo; CBO Predicts Ballooning Public Debt
The Consumer Price Index for All Urban Consumers edged up by 0.1 percent in August compared with July. Over the last 12 months, the index has risen 1.5 percent. The NAHB reported that builder confidence in the market for newly built, single-family homes held unchanged in September with a reading of 58 for that month. The Congressional Budget Office also reported that the federal government needs to shave $2 trillion off its spending over the next 10 years to stabilize long-term public debt.
Baptist Memorial Health Care Corp. Expands in the Greater Memphis Area
Baptist Memorial Health Care Corp. continues its expansion. A $14.7 million permit application was recently filed by Duke Realty Corp. for Baptist Memorial new rehabilitation facility
Economy Watch Weekly: Consumer Credit Peaks, Underwater Mortgages Dip, What Will Fed Do About QE3?
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Sept. 13.
Tucker Secures $218M in Financing for Phase I of 1 MSF M-U Development in Fort Lee, NJ
A JV of Tucker Development, Ares Management and Kushner Real Estate has secured $218 million in financing for the initial phase of Hudson Lights, a 1 million-square-foot mixed-use redevelopment of an eight-acre site located at the base of the entrance to the George Washington Bridge in the heart of downtown Fort Lee, N.J.
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