News
Carrfour to Deliver First 56 Affordable Units with NSP2 Funds
By Georgiana Mihaila, Associate Editor
Carrfour Supportive Housing is putting federal stimulus dollars to work with the purchase of a formerly distressed apartment complex, Harvard House Apartments. The Miami-based developer purchased the property through funds from the U.S. Department of Housing […]
Low Class A Office Vacancy Rate Equals Good News for Real Estate Investors
By Veronica Grecu, Associate Editor
ChicagoRealEstateDaily.com reports that a 40-story office tower located at 55 W. Monroe St. will be sold for about $140 million to Hearn Co., a local investment company that teamed up with an undisclosed New York-based capital […]
Economy Watch: Foreclosures Still One-Third of Residential Sales
The sale of houses in some stage of foreclosure accounted for 31 percent of all residential sales during 2Q11. The Obama administration is mulling plans to help the housing market. And despite Warren Buffett’s $5 billion investment, the Dow was still down yesterday.
Cole Purchases $102M PetSmart HQ in Phoenix
The Phoenix office market continues its march back to recovery, this time led by the $102.5 million purchase of the PetSmart corporate headquarters by Cole Real Estate Investments.
JLL Wins 4.3 MSF Management Contract from Principal Financial
Jones Lang LaSalle has won yet another assignment, emerging victorious form a heated bid for a facilities-management contract for the Principal Financial Group’s 4.3 million-square-foot portfolio of employee-occupied properties.
Times Square Property Moves for $136M
If there’s one constant in Manhattan real estate, it’s that there’s always a deal going on. This week, it’s the news that 1552 Broadway in Times Square has changed hands for $136.6 million.
California Cities Court NFL Teams with Stadium Plans
By Alex Girda, Associate Editor
As National Football League teams get ready to kick off the 2011 season, competition of a different sort is heating up in California. No fewer than four cities in the Golden State have plans in the pipeline for […]
Clarion Partners Purchases $118M, 2.8 MSF Industrial Portfolio from ProLogis
Clarion Partners acquired 13 Class A industrial properties from ProLogis for $118 million, focused mostly on Midwest distribution centers.
$78M in Refis for Beech Street Capital Across Three Deals
It’s been busy over at Beech Street Capital. In the last few days, the multi-family lender has closed three financing deals that total a combined price of $78 million.
Economy Watch: A Positive Outlook on Long-Term Deficit
The Congressional Budget Office said the longer-range forecast is for the budget deficit is better than expected. The Federal Housing Finance Agency reported its House Price Index edged up 0.9 percent in June. And Wall Street was ended positive yesterday, but investors are waiting for Ben Bernanke’s speech on Friday.