News
Avison Young Wins Global Transaction Management Assignment with Sun Chemical Corp.
The Canadian real estate services firm that has been expanding rapidly in the United States has won contracts with two N.J.-based multinational companies – Sun Chemical Corp. and C.R. Bard Inc. – to manage their global transactions.
Economy Watch: Existing Home Sales See Annual Spike; M-F Expansion Slows; Philly Fed–Coincident Indexes Up in Most States
The total existing U.S. home sales in December went up 12.8 percent year over year. Multi-family expansion moderated this month. And the Philly Fed reported that coincident indexes increased in 32 states.
AMLI Co-founder John Allen Dies
John Allen, co-founder of Chicago-based national real estate company AMLI and a well-known name in the industry, died this past Sunday.
Economy Watch: President States His Intentions; ILO – Worldwide Unemployment Rising
President Obama touches on a number of priorities during his second term in office. According to ILO, worldwide unemployment is rising. And Wall Street closed for the Martin Luther King Jr. holiday, but its indexes worldwide were mixed.
Top Dollar
(spread between IPD all-property local yield and 10-year national bond yield, second quarter 2012)
Interstate,Waramaug JV Buys Orlando-Area Resort
In its fifth joint acquisition over the past two years with Waramaug Hospitality, of Washington, Conn., Interstate Hotels & Resorts has acquired the Radisson Resort Orlando – Celebration, in Celebration, Fla.
Joint Venture Developing $70M Shopping Center; 100-key Boutique Hotel Breaks Ground
With construction well under way at The corners at Wescott, New York-headquartered Cohen Real Estate (CRE) has announced arranging the creation of a joint venture between national owner and manager of shopping centers North American Development Group (NADG) and Atlanta-based Hendon Properties, a development, management, and leasing company specializing in retail shopping centers to develop the first phase of the grocery-anchored shopping center in North Charleston, SC.
Digital Realty Acquires Three-Property Data Center Portfolio in Paris for $80M
Digital Realty Trust has acquired a three-property data center portfolio in the Paris area for $80 million. The seller was Bouygues Telecom, France’s third largest telecommunications operator.
Dave & Buster’s to invest $15M in SA Venue
Dallas-based Dave & Buster’s announced plans for a new dining, arcade and entertainment venue at Rivercenter Mall, in the downtown of the Alamo City. The new Dave & Buster’s will be located in the former Joske’s building and should be open in the summer of 2014.