News
Economy Watch: No QE3, CRE Prices Slide
The Federal Reserve acknowledged common knowledge after the conclusion of the Federal Open Market Committee meeting: Namely, that U.S. economic growth is slower than expected and labor market indicators “have been weaker than anticipated,” according to the FOMC statement.
Behind PNC’s Acquisition of RBC Bank USA
RBC has been a major player in the commercial real estate lending sector and the transaction will now add to PNC’s commercial real estate portfolio.
HFF Negotiates Sale of Houston Office Building
The firm oversaw the sale of 6671 Southwest Freeway, an eight-story, 148,751-square-foot office building in Houston.
Hoffman to Lead Marcus & Millichap’s Self-Storage Division
Michael Hoffman is also first vice president & regional manager of the firm’s Denver office. He began his career with Marcus & Millichap in 1992.
Economy Watch: Home Sales, HUD Loans
The National Association of Realtors reported that existing home sales dropped 3.8 percent in May compared with April, to the lowest level of 2011 thus far.
Chesapeake Buys Hotel Indigo San Diego
The firm snapped up the 210-room boutique hotel from InterContinental Hotels Group in a $55 million cash transaction.
IHOP Expands to Middle East
The restaurant chain has inked a multi-restaurant franchise agreement for the development of 40 new locations in Kuwait, Saudi Arabia, Jordan, Lebanon, Qatar, the United Arab Emirates, Oman, Bahrain and Egypt.
Economy Watch: Greeks Warned, Wal-Mart Wins
The International Monetary Fund spoke of “large global spillovers” from the euro-zone debt crisis. Or more fully in a banker-like statement: “Failure to undertake decisive action could rapidly spread tensions to the core of the euro area and result in large global spillovers.”
South Lake’s Return: Vulcan’s Ada Healey Turns a Fading Urban District into a Vibrant Showcase
Under the decade-long leadership of Ada Healey, Vulcan Inc.’s vice president of real estate, South Lake Union is enjoying remarkable new life as a vibrant urban community and a hub for technology and biomedical research.