News
Meridian Nails Down $200M in Financing for NYC Tower
After being lost by high-profile real estate investor Harry Macklowe in a foreclosure auction, 1330 Avenue of the Americas is being refinanced by its new owner.
Economy Watch: Housing Prices Take It on the Chin
The S&P/Case-Shiller Home Price Indices trended toward negative territory in October, while the 10-City Composite Index posted a meager 0.2 percent growth rate compared with the same month last year.
Parkway Properties Plans Atlanta Office Purchase
The office and retail portion of the Sovereign, an upscale mixed-use high-rise in Atlanta’s tony Buckhead area, is about to be snapped up for $167.3 million.
SL Green Wraps Up $390.8M Purchase of Gramercy Assets
The company did not have to shell out cash for the entire purchase, which accounts for an aggregate 1.2 million square feet of premier space, as the deal included the assumption of $265.6 million in debt.
Will Triple Five Be the Charm for Xanadu?
If Triple Five can transform New Jersey’s stalled $2 billion project from a costly white elephant into a thriving retail and destination center, the Canadian firm will pull off a feat that eluded two previous developers.
First Wind Receives $76M in Financing
Construction of Vermont’s largest wind energy project began in September. Since the end of that month, First Wind has raised $435 million in financing and repaid $149 million in short-term turbine supply loans.
Barry Joins Avison Young
Veteran commercial real estate broker Phil Barry will serve as a principal and member of the office properties group, providing a range of real estate services ranging from investment sales and acquisitions to build-to-suit development and landlord and tenant leasing.
Economy Watch: Happy Holidays for U.S. Retailers
MasterCard Advisors’ SpendingPulse said that U.S. retail sales through all channels spiked 5.5 percent this holiday season compared with last year’s, making it the best holiday season for retailers in five years.
Duncan, Helm Co. Complete Merger
The two companies have joined forces to offer real estate brokerage, property management and consulting services in Kentucky and Southern Indiana.
Economy Watch: Online Spending Increases
MasterCard Advisors’ SpendingPulse, which tracks U.S. retail sales, said that consumers ramped up their online spending toward the end of 2010, compared with a year ago. From Oct. 31 to Dec. 22 this year, consumers spent $36.4 billion online, according to the company; during the same period last year, the total was $31.5 billion.