News
CommonWealth Buys One Shell Square in New Orleans for $102M
In the largest office transaction since Hurricane Katrina, CommonWealth REIT has purchased the 1.3 MSF One Shell Square in New Orleans from MetLife for $102 million.
Special Servicer Helios AMC Acquires The Situs Cos.
Helios AMC, the special-servicer sponsored by Ranieri Partners, and the global real estate advisory firm The Situs Cos. will join forces but will retain the Situs name.
Economy Watch: Wall Street Has a Very Busy “Off” Day
Despite the Columbus Day holiday, equities markets were open and investors took the opportunity to buy. The Paris-based OECD saw the fifth monthly decline in its economic indicators. And even though the recession is technically over, incomes are still falling.
Report: Domestic Office Sector Moving Upward Despite Weak Economy
A report by Cassidy Turley showed an uptick in demand for office space around the country. According to its latest figures, a net 14.9 million square feet were registered in the third quarter of 2011, the largest quarterly gain in more than four years.
Grandbridge Funds $72M Loan through Freddie Mac for Florida Multi-Family
Grandbridge Real Estate Capital just closed a $72 million Freddie Mac first-mortgage loan secured by Paradise Island, a 1,112-unit apartment property in Jacksonville, Fla.
Grubb Sells Interest in Alesco Global Advisors to Lazard Asset Management
Grubb & Ellis continues to bolster its balance sheet, closing the sale of Alesco Global Advisors to Lazard Asset Management L.L.C.
Economy Watch: September Jobs Report Better Than Nothing, Not Great
The middling jobs report on Friday might not have inspired optimism, but at least it didn’t inspire a mini-panic. France and Germany hinted at plans for euro-zone debt restructuring. And the Fed reported that U.S. consumer credit dropped across the board in August.
Jones Lang LaSalle, Pacific Real Estate Partners Merge
Commercial real estate services firm Jones Lang LaSalle has substantially deepened its foothold in the Pacific Northwest overnight with the merging of operations with Pacific Real Estate Partners Inc.
Alliance Texas, Victory Park Projects to Add New Rental Units
By Georgiana Mihaila, Associate Editor
Developer Hillwood Properties has recently announced plans to enrich its 17,000-acre Alliance Texas development by adding a second rental home project. The new 262-unit project will be adjacent to the original Monterra Village apartment complex, which opened […]
LDS Temple to Stimulate Provo Redevelopment Plans; V.A. Plans Housing Facility for Homeless Veterans
By Gabriel Circiog, Associate Editor Deseret News reported the rebuilding of the severely deteriorated LDS Church’s Provo Tabernacle into a temple. Mayor John Curtis said the decision complements decades of work in adition to preserving the building, making it a perfect fit with the downtown redevelopment vision of city officials. The plan for the downtown’s revitalization […]