News
DLA Piper Summit: Recession was ‘Panic’, Zell Says
Eighteen months ago the U.S. economy was in full-fledged panic. That’s according to Sam Zell, who spoke at DLA Piper’s Global Real Estate Summit 2010 on Tuesday. The chairman of Equity Group Investments spoke along with fellow panelist Michael Fascitelli, President and CEO of Vornado Realty Trust, at a panel titled “Where Have We Been and Where are We Going?”
Economy Watch: Simon Says, Pick Me! Pick Me!
Various news organizations reported separately on Monday that Simon Property Group Inc. upped its ante for General Growth Properties in its efforts to win GGP and its delectable 200-plus mall portfolio from the clutches of a group of investors led by Brookfield Asset Management Inc. Unnamed sources were cited.
Welcome to the Neighborhood–USGBC Introduces New LEED Rating for Communities
The Washington, D.C.-based U.S. Green Building Council’s internationally recognized official stamp of sustainability has been awarded to millions of buildings around the world, but with the organization’s introduction of the LEED for Neighborhood Development rating system, entire communities can now achieve LEED certification.
DLA Piper: Market Has Reached Bottom
In advance of its Global Real Estate Summit 2010, legal firm DLA Piper has released its State of the Market Survey, which asserts that the market has indeed hit that much-vaunted bottom.
GGP Said to Prefer Brookfield Proposal
General Growth Properties appears to have chosen a proposal from Brookfield Asset Management to help lead the shopping-center REIT out of bankruptcy.
Economy Watch: Economy, Consumers Feeling a Little Better
The U.S. Department of Commerce reported on Friday that the nation’s GDP rose at an annualized rate of 3.2 percent during the first quarter of 2010.
Hines Turns a Profit on $128M Sale of Three Brazilian Industrial Properties
It’s not easy to turn a profit on a commercial property sale in the U.S. these days, but it can be a different story for certain commercial real estate sectors abroad, and as evidenced by its recent disposition of three Class A industrial properties in Brazil, Houston-based Hines is well aware of that fact.
Philadelphia’s New 202-Room Le Méridien Hotel Trades Hands
Just weeks before its opening, the brand new Le Méridien Hotel in Center City Philadelphia has found a new owner–but the transaction comes as no surprise.
CoStar: No Rose-Colored Glasses Just Yet
According to CoStar’s Q1 State of the U.S. Retail Market, things are still tenous out there. The information, analytics and research firm’s April 29 event looked at availability, vacancy, construction starts and transaction volume – and found that difficulty still provides friction against forward motion.
Marcus & Millichap Makes Two Executive Appointments
Real estate investment services firm Marcus & Millichap said Thursday that it has named two employees to higher positions.