News
Around the Industry: Hirings and Promotions
News from around the industry: Barry Bartle has been named president of NAI Horizon’s property-management division. Mark Jaccom will become co-chair of Colliers’ New York tri-state region. Resource Real Estate hired John Towle as chief marketing officer. And Rick Del Roio has become Beech Street’s vice president of credit.
Economy Watch: Moderate Cheer about Europe – for the Moment
The latest idea to stave off Europe’s woes is the creation of a permanent European Stability Mechanism. U.S. purchasing and supply managers have reason to be optimistic. And Nevada and California are pooling resources to investigate robo-signing shenanigans.
BART’s Coliseum Transit Village Moves Forward in Oakland
By Alex Girda, Associate Editor
The latest transit-related development in the San Francisco Bay Area is getting on track. The Bay Area Rapid Transit District board of directors is negotiating an agreement with the Oakland Economic Development Corp. to develop a […]
Ad Agency Y&R Signs 340 KSF Lease, Acquisition Deal at 3 Columbus Circle in NYC
Young & Rubicam has staked a claim to nearly one-half of 3 Columbus Circle, a 765,600-square-foot office tower at 1775 Broadway in Manhattan.
Prudential Provides $160M in Financing for Prologis' Mexican Industrial Portfolio
Prudential has provided co-investment venture managed by Prologis with $160 million in funds for the refinancing of an industrial portfolio in Mexico City and Guadalajara.
Breaking News: Kennedy Wilson, Partners Acquire $1.8B U.K. Loan Portfolio
In what Ernst & Young research has found to be the largest European real estate transaction in the current cycle, Kennedy Wilson and its institutional partners have just completed the second phase of a $1.8 billion portfolio acquisition.
Analysis: Battle for Archstone Already Heating Up
Even as the bankruptcy estate of Lehman Brothers heads into court with its payout plan, it reportedly is in discussions with potential partners, trying to raise money for a counterbid to the offer yesterday from Sam Zell’s Equity Residential to buy more than a one-quarter interest in Archstone.
Shell Re-Ups, Signs "Largest Lease Transaction in the World" in Houston
In what Hines is calling the “largest lease transaction in the world in 2011,” the firm’s Houston office has re-signed Shell Oil Co. for a 1.2 million-square-foot lease.
Economy Watch: Strong Medicine For the Euro-Zone, Online Spending Hits Records
France and Germany told the other euro-zone nations that it’s time for centralized fiscal control. The Conference Board showed employment gains in November. And Cyber Monday alone saw nearly $1.3 billion in sales.
SL Green Spends $80M, Now Owns Entire Block in Midtown
The latest Midtown pickup the approximately $80 million purchase of 51 E. 42nd St., an 18-story, 142,000-square-foot office building that faces Grand Central Terminal by SL Green.