News
OliverMcMillan Restarts Project
There will be an investment of $300 million to bring The Streets of Buckhead to life. The mixed-use project will ultimately consist of an array of luxury commercial and residential components spanning six blocks in the tony neighborhood.
Economy Watch: New Homes, Budget Cuts, Oil
New home sales took a dive in January, while Goldman Sachs came out with a report predicting a slowdown in U.S. growth due to budget cuts and prospects for an oil crisis.
Eyeing Healthcare Growth, Lend Lease Acquires DASCO
Company executives are counting on the merger to provide a one-stop shop for the burgeoning medical facilities industry.
Colliers Taps Dahlstrom to Lead Investment Services
The appointment signals a push to take market share in the institutional investment arena.
Economy Watch: Existing Home Sales Up
Existing home sales rose unexpectedly during January, but foreclosures are down year over year. Banks are back in the black as a whole but still holding on to their money.
Pebblebrook Buys Argonaut Hotel for $84M
The REIT recently acquired the Argonaut Hotel, a 252-room upper-upscale property in San Francisco, from Maritime Hotel Associates L.P.
CoStar Turns Profit on D.C. Headquarters
Exactly one year after acquiring a 169,500-square-foot office building in a $41 million deal, CoStar Group Inc. closed the disposition of the property in a $101 million sale-leaseback transaction with GLL L-Street 1331 L.L.C., an affiliate of GLL Real Estate Partners GmbH. CoStar walks away from the transaction with all cash in its pocket.
New Owner for 1.1-MSF Distribution Center
A bevy of investors was hoping to acquire the fully leased property at the Rockefeller Group Foreign Trade Zone/Charleston in Charleston, S.C., but USAA Real Estate Co.’s U.S. Industrial REIT III emerged victorious.
Studley Expands with Acquisition of Gravitas Real Estate Resources
Studley executive vice president Thomas Bogle told CPE that several existing clients wanted the firm to meet a broader array of their needs. Gravitas provides experience in lease administration as well as a background in technology and process consulting.
Economy Watch: Home Prices at Double Dip?
The latest S&P/Case-Shiller indexes on U.S. housing prices confirm that home valuations are still on the slide. In fact, almost all of the small pricing uptick experienced in 2009, which probably was a result of the long-gone federal homebuyer tax credit, has been erased. A continuing influx of distressed properties put further pressure on prices.