News
Economy Watch: Construction, GSEs, Prospects for a Shutdown
According to the U.S. Department of Commerce, construction spending took a dive in January, with a 0.7 percent decline from December that took the aggregate value of U.S. construction projects down to a $791.8 billion annualized rate. Commercial real estate construction projects led the decline.
Blackstone Pays $9.4B for Centro Portfolio
The company is about to beef up its presence in the retail market by 588 properties and a million square feet.
Ventas Buys Nationwide Health in $7.4B Transaction
The stock-for-stock merger will create the industry’s largest healthcare REIT.
CPE TV: JLL Reports from MBA
In this first of a three-part series, Denny St. Romaine, managing director of real estate investment banking at JLL, discusses how the multi-family sector is attracting lenders today.
Economy Watch: Spending, Sales, Optimism
Incomes were up in January, mainly because of the cut in Social Security taxes approved in December, but consumer spending didn’t quite match, according to the U.S. Department of Commerce. Incomes were up 1 percent, the largest increase in about two years, while consumer spending inched up only 0.2 percent.
Water Levels Delay $347M Casino
Pinnacle Entertainment Inc. was on schedule to complete development of the Baton Rouge, La., project, but low Mississippi River water levels have forced the company to push back the gaming property’s debut to the first quarter of 2012.
Economy Watch: GDP Estimate Pared Down
U.S. GDP wasn’t quite as robust in the fourth quarter of 2010 as the U.S. Department of Commerce had previously estimated. Growth was recalibrated by the Bureau of Economic Analysis to an annualized rate of 2.8 percent, down from an earlier estimate of 3.2 percent.
National Association of Realtors Forecasts More Stabilization in CRE
The organization’s latest report anticipates increasing improvement across the board for the national commercial real estate market.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending Feb. 25 and what to watch out for in the coming week.
New Denver Office Building Trades for $213M
The 500,000-square-foot office building at 1800 Larimer St. comes under new ownership just nine months after developer Westfield Co. Inc. put the finishing touches on the technologically advanced tower.