News
Economy Watch Weekly: ECB Promises Low Rates, U.S. Adds More Jobs.
CPE’s economic analyst, Dees Stribling, gives his update for the week ending July 5.
$110M in Financing Closes for 214 KSF DC Office Property
The Washington Building, a 214,000-square-foot office destination in Washington, D.C., offers the elements lenders love, so CBRE Capital Markets had more than a few offers in the process of arranging $110 million financing for the Class A property on behalf of borrower Clarion Partners.
NCC to Build Royal College of Music Project in Stockholm Worth $119M
Leading construction and property development company NCC has received $62 million contract to build the new Royal College of Music in Stockholm, a project worth $119 million.
Bouri Joins UMS as Senior Partner, Managing Director
Veteran corporate executive and management consultant George Bouri has joined Arlington, Va.-based UMS Advisory as the real estate and facilities management consulting firm’s new senior partner & managing director.
C&W to Manage Major Industrial SoCal Portfolio
IndCor Properties has awarded Cushman & Wakefield a contract to manage 9.1 million square feet of its industrial properties in Southern California, including San Diego, Irvine, and the Inland Empire.
Economy Watch: Residential Delinquencies Drop; Consumer Credit Rises
The national delinquency rate for residential mortgages continued to fall in May, marking the largest year-to-date drop since 2002. And consumer credit bounced upward in May, rising 8.3 percent compared with the same month in 2012, the most in about a year.
Chevron to Build 1.7 MSF Houston High-Rise
With no end in sight to its growing staff, Chevron U.S.A. Inc. will add more than a little bit of elbowroom to its downtown Houston offices through the addition of a 1.7 million-square-foot tower.
Blue Ribbon Plans Offices, Student Housing in Downtown Milwaukee
Construction on two developments in downtown Milwaukee is about to begin. According to BizTimes, Blue Ribbon Management LLC is planning to develop a five-story office facility and an apartment building for international college students at the site of the former Pabst brewery.
Fortress to Fund M-U Development on 2-Acre Burlington Waterfront Land in Ontario
Mady’s latest mixed-use development project, sitting on 1.68 acres of prime waterfront land on the shores of Burlington city, has landed a financing agreement. Fortress Real Developments executives have agreed to provide funding for the project.
Las Vegas Valley Land Values On the Rise; Still Short of Pre-Downturn Peak
It has taken quite the amount of time for people to be discussing growth when mentioning the city’s real estate, but it now seems that even the most lagging markets are seeing stabilization, or even signs of improvement. Now data from Applied Analysis quoted by The Las Vegas Review-Journal seems to point out that the Las Vegas Valley’s land market is also on the up. According to the data aggregator, Q1 of 2013 has seen a dramatic increase in the number of land deals in the area, with 809 completed transactions, a massive jump from the 159 purchases recorded in 2012’s first quarter.
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