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JV to Acquire and Manage Intertur Hotels
The joint venture aims to reposition and modernize the portfolio of 1,119 guestrooms through an investment program. Alua will manage the hotels and market them under its brand in 2018.
Massive 600MW Offshore Wind Farm Opens in North Sea
The Gemini Offshore Wind Park is a collaboration between Northland Power, Siemens Wind Power, Van Oord and HVC. It has a generating capacity of 600 megawatts and will power 785,000 households.
Economy Watch Weekly: Job Creation Rebounds in April
The U.S. economy created 211,000 jobs in April, a nice improvement from the mere 79,000 jobs created the month before. Economy Editor Dees Stribling breaks down the job growth by sector.
Honda Breaks Ground on $30M Dealership in South LA
The 210,000-square-foot project is part of a neighbourhood revival which includes other high-profile developments. The company plans to relocate from downtown LA in the summer of 2018.
Jackson Healthcare’s $100M Atlanta Expansion Kicks Off
The expansion of the company’s corporate headquarters will be completed in December 2018. Once finalized, the new facility will total 550,000 square feet and will accommodate 1,400 new associates.
Economy Watch Weekly: First-Quarter Metrics Point to Slower Start
As economic metrics for the first few months of the year start to trickle in, the figures seem to suggest the U.S. economy is off to a slower start in 2017. Economy Editor Dees Stribling discusses some of these metrics, including GDP, consumer confidence and hotel occupancy.
Cleveland Mixed-Use Project Lands $142M Financing
HFF secured the financing on behalf of development partners Fairmount Properties and the DiGeronimo Cos. Scheduled for completion in spring 2018, Pinecrest will offer more than 400,000 square feet of retail, restaurants and entertainment.
Frozen Gourmet Installs Cold Thermal Energy Storage System
Viking Cold Solutions’ Thermal Energy Storage reduced Frozen Gourmet’s energy consumption by nearly 30 percent since the beginning of 2017, while also maintaining more stable temperatures inside their freezers.
Economy Watch Weekly: IMF Raises US Economic Growth Forecast
The IMF now expects global economic growth to reach 3.5 percent in 2017, predicting the U.S. will lead the pack with 2.3 percent growth. But how long will this momentum last and what is the impact on commercial real estate? Economy Editor Dees Stribling tackles these questions and more.
Financing Industrial: PGIM Real Estate Finance CIO Talks Discipline, Disruption
Paige Hood has a favorable outlook for commercial real estate lending, crediting market discipline as a key driver of his firm’s capacity to lend on coveted, last-mile industrial assets, among other property types.