News
Hines Global REIT Buys 510 KSF Office Center in Boston Suburb
Hines Global REIT has acquired Riverside Center, a 510,000-square-foot, three-building office complex in the Boston suburb of Newton, Mass., from Equity Office Properties for $197 million.
Fidelis Realty Buys Grocery-Anchored Center in Houston
A busy city has to eat, right? In yet another sign that Houston is surging upward again, Fidelis Realty Partners has purchased Willowchase Shopping Center, a 273,200-square-foot property anchored by a 92,800-square-foot Fiesta Market supermarket.
CPE Exclusive: Sage, Whitman Peterson Grab 852-Room Courtyard by Marriott Portfolio
Sage Hospitality and Whitman Peterson have kicked off their new investment relationship with the acquisition of six Courtyard by Marriott lodging properties from Clarion Partners. The 852-room group of hotels is located in metropolitan Atlanta, Dallas and the Detroit area.
Economy Watch: Apartment Market Continues to Tighten; Home Prices Rise; ADP Reports Moderate Job Growth
Apartment vacancies nationwide continued to shrink in the first quarter of 2013. Home prices nationwide increased 10.2 percent in February 2013 compared to February 2012. And according to ADP, 158,000 private-sector jobs were created in March.
South Carolina Manufacturing Secures New Investments; Charleston Trophy Office Building Sold
Austrian-headquartered Constantia Hueck Foils LLC, a company present in South Carolina since 1997, is set for an expansion set to increase both its production facility as well as its workforce.
Sports-Oriented M-U Development in Berlin to Reshape Urban Hubs
As the European urban development landscape is changing and sustainability is now a major factor, developer Moritz Gruppe has come up with a new vision for a large sports-themed mixed-use project in Berlin.
Behringer Harvard, TCR Begin Construction of Luxury M-F Project in Houston
Behringer Harvard is teaming up with Trammell Crow Residential to construct a 270-unit luxury apartment community on a 2.9-acre site in the Montrose/Museum District submarket of Houston.
Economy Watch: Office Demand Still Stagnant Nationwide; Fannie Mae Profitable Again; Philly Fed Coincident Indexes Up
The U.S. office vacancy rate was down quarter over quarter in the first quarter of 2013 by only 0.1 percentage points. Fannie Mae, practically given up for dead during the abyss of the Great Recession, showed signs of life in 2012. And the Philly Fed reported on Tuesday that its coincident indexes increased in 45 states.
Economy Watch Weekly: Weak GDP, but Housing Chugging Along
CPE’s economic analyst, Dees Stribling, gives his update for the week ending March 29.
Carmel Wins, Capital Properties Loses in Rincon Apartments Lawsuit
The credit crunch may be behind us for the most part, but the fallout continues, as evidenced by a lender liability/wrongful foreclosure action filed by Capital Properties against Carmel Partners regarding the latter’s foreclosure on Rincon Residential Towers in San Francisco.
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