News
Economy Watch: Fed Report Details Recession’s Impact; Cyprus Asks for Bailout
A recent Fed report quantified a very painful aspect of the recent recession: Real median household income fell 7.7 percent from 2007 to 2010. Independent businesses’ average optimism is relatively unchanged month to month, but is still low historically. And the island nation of Cyprus has asked for a bailout of up to $5 billion.
Kennedy Wilson Takes Upscale Hayward Complex in $87M Deal
By Alex Girda, Associate Editor Kennedy Wilson has recently completed the $86.5 million acquisition of the Waterford, a 544-unit complex in Hayward. Most of the financing–$68.1 million–was secured through Freddie Mac. Terms are for a 10-year fixed rate of 3.69 percent. The Beverly Hills, Calif.-based firm described the deal as a strategic move into the […]
Carlock Joins PwC as U.S. Real Estate Practice Leader
PricewaterhouseCoopers has hired Byron Carlock as the newest member of its real estate team. Carlock’s move follows 11 years with CNL Financial Group, most recently as president & CEO of CNL Lifestyle Properties.
PREA: 2012 CRE Returns Will Rise to Nearly 10 Percent
Commercial real estate firms expect the future of the U.S. commercial real estate market to continue to shine, as indicated by the results of the Pension Real Estate Association’s latest Consensus Forecast Survey: Survey participants in May anticipate full-year 2012 returns of 9.6 percent.
Indianapolis Sees Construction Kick Off for 81 KSF Spec Office Space
Sourwine Real Estate Services is preparing for construction on Indianapolis’ first spec office project since 2008, an 80,699-square-foot, Class A property in the city’s Keystone area.
JLL Tapped for Role in Redeveloping Pittsburgh’s Civic Arena Site
The NHL’s Pittsburgh Penguins have selected Jones Lang LaSalle as the organization’s representative for the redevelopment of the former Civic Arena site in downtown Pittsburgh. The two entities will work to complete “a financially feasible master plan” for redevelopment of the 28-acre site.
Kennedy Wilson Nabs 544-Unit California Multi-Family Community for $87M
Kennedy Wilson has cast its eyes across the San Francisco Bay, acquiring the 544-unit Waterford multi-family complex in Hayward, Calif., for $86.5 million.
Walker & Dunlop to Acquire CWCapital for $220M
Just days before the 18-month anniversary of Walker & Dunlop’s IPO, the commercial real estate finance company has entered into a definitive agreement to acquire CWCapital for $220 million.
JCF Plans 500 KSF Luxury Apartment Complex Near Chicago’s O’Hare
With an eye on the rising demand for luxury apartment accommodations in Chicago, JCF Real Estate is working expeditiously to respond to the growing need. The commercial real estate firm recently submitted plans for a premier, 405-unit apartment building to the 41st Ward Zoning Advisory Board.
AEW Capital Management Awards 2.6 MSF Leasing Contract to Cushman
Cushman & Wakefield has inked a 2.6 million-square-foot management contract for 11 industrial properties owned by AEW Capital Management in the rapidly improving Southern California region.