News
Economy Watch: Home Sales Drop; 15 Banks Downgraded; Unemployment Edges Down
Existing U.S. home sales dropped 1.5 percent month over month in May; Moody’s downgrades 15 major banks; and unemployment claims edged down a bit in mid-June.
Lighting Owner Relocates Vinik Asset Management’s HQ to SunTrust Tower
Vinik Asset Management—the Boston-based hedge fund and investment firm founded and controlled by Tampa Bay Lightning owner Jeff Vinik—will soon relocate to Tampa’s SunTrust Financial Centre.
HFF Hired to Market Former KBR HQ in Houston
According to an official announcement, Holliday Fenoglio Fowler has been hired by KBR to market the 135.8 acres of land that used to serve as the company’s headquarters in Houston.
Goodman, Birtcher Form $1.5B Partnership Targeting Industrial Properties
With an eye on developing and acquiring premier industrial and logistics properties in North America, Australia’s Goodman Group has joined forces with California’s Birtcher Development and Investments.
JLL Sells $760M Loan Portfolio for Eurohypo
Jones Lang LaSalle Capital Markets has closed the sale to US Bancorp, Wells Fargo Bank and Blackstone Group of $760 million in loans, JLL announced Tuesday.
Economy Watch: No QE3 Just Yet; More Shared Households; Foreclosures Tick Up
As scheduled, the Federal Open Market Committee issued a statement on Wednesday about the economy and what it plans to do in the near future about its stubborn sluggishness.
Carlton Group Tapped to Sell Bulgarian Solar Property Portfolio
The Carlton Group has landed a contract for the sale of six green energy properties under construction in Bulgaria. The client, an experienced turnkey developer of photovoltaic solar assets, took the contract to Carlton with an asking price of €150 million, or approximately $190 million.
Renovation Plans Announced for Philadelphia Eagles’ Stadium
A major makeover has been announced for Philadelphia Eagles’ home stadium, the 10-yeard-old Lincoln Financial Field located at 1020 Pattison Avenue. In an effort to enhance the fan experience and generate additional revenue from the 69,000-seat sports venue, stadium officials are ready to invest $60 to $100 million in renovating and upgrading the facility.
Michigan, Canada Officials Announce New Detroit-Windsor Bridge
By Veronica Grecu, Associate Editor On June 15 Michigan Gov. Rick Snyder and Canadian Prime Minister Stephen Harper announced plans for a new bridge linking Detroit and Windsor, Ontario. First proposed nearly ten years ago, work on the new six-lane bridge could start in 2013 or 2014 and it would take at least four years […]
Orlando Community Part of $100M Portfolio Acquired by Harbor Group
Affiliates of Harbor Group International, LLC have paid $99.7 million for a three-property Florida multifamily portfolio; the portfolio, consisting of a total of 1,218 units, included the Island Club gated community at 1401 South Kirkman Road, Orlando.