National
Economy Watch: Consumers Less Optimistic Despite Economic Growth
Consumer confidence about short- and long-term economic prospects declined in April, according to the Conference Board’s latest Consumer Confidence Index,
Starwood Launches Uptown Suites Brand
The first location has opened in Concord, N.C., with more than 10 Uptown Suites properties slated to open by 2019.
Kennedy Wilson, Euro-Affiliate to Combine Into $8.2B Entity
The transaction is expected to close during the third quarter of 2017. The deal will reportedly create a global portfolio of more than 400 properties with an enhanced geographic mix and broad diversification across real estate sectors.
Economy Watch: Worker Shortage Puts Clamp on Construction Hiring
Only 17 states added construction jobs in March, according to a recent Associated General Contractors of America analysis. While contractors in most states remain busy, they worry about being able to find enough workers to complete projects in the future.
RLJ, FelCor to Merge in $1.2B All-Stock Deal
The move, which would create the third-largest pure-play lodging REIT, with a total enterprise value of $7 billion, was deemed a “head scratcher” by at least two analysts.
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.
Economy Watch: Hotels Enjoy a Bang-Up First Quarter
Hotel occupancy, average daily rate and revenue per available room all gained ground in the first quarter of 2017, STR recently reported, but an increase in development for the quarter could put pressure on pricing power.
Normandy, NTT Urban Form Strategic Partnership
This move guarantees both firms investment activity growth in the office and mixed-use sectors in various urban and transit-oriented areas in core markets, including New York and D.C.
Optimism Improves Among CRE Execs, Despite Uncertainties
About 64 percent of real estate executives interviewed after the election say the Trump administration’s agenda will have a moderately or significantly positive effect on the industry.
Economy Watch: Architects Busier in March, to be More Active 2018
Architecture firm billings increased in March, according to the AIA’s latest Architecture Billings Index, indicating that design and construction activity should pick up later this year and in 2018.