Regions
Economy Watch: U.S. Consumers Hit the Mall
According to the Department of Commerce, U.S. retail sales grew 0.5 percent in October, and the Producer Price Index actually dropped 0.3 percent at the same time. Bond yields rose once again for Spain and Italy.
CBRE Names CFO, CAO for Global Investment Unit
On the heels of closing its purchase of Netherlands-based ING Group N.V.’s real estate investment operations in Europe, CBRE Global Investors has named Maurice Voskuilen as its new global CEO & CAO.
$280M Mortgage for FiDi Office Through SL Green, Moinian JV
A joint venture of SL Green and The Moinian Group announced it has recapitalized 180 Maiden Lane, a fully leased, 1.1 million-square-foot Class A office tower on New York’s Downtown waterfront.
Investcorp Buys $40M Mezz Debt on NYC’s Paramount Hotel
Investcorp has picked up two existing mezzanine loans — a total principal balance of $40 million — backed by New York City’s Paramount Hotel and originated by Fillmore Capital Partners.
Four-way Merger Creates New CRE Company in Idaho, Montana
Four CRE firms in Montana and Idaho have combined their efforts to create a larger company called Catalyst, which will be an independently owned affiliate of Grubb & Ellis.
General Growth, Kimco JV to Redevelop Maryland Mall for $70M
Owings Mills Mall, a 25-year-old, 1 million-square-foot regional mall in northwest Baltimore County, will be undergoing redevelopment through a new joint venture of General Growth Properties and Kimco Realty.
ProLogis Sells 90% Stake in Brazilian Development to Pension Fund
Powerhouse industrial developer ProLogis Inc. announced the sale of a 90 percent interest in its not-yet-complete ProLogis CCP Cajamar Industrial Park in São Paulo, Brazil, to Brazil’s largest pension fund, PREVI.
780 KSF of Bronx Retail, Courtesy of Prestige Properties
In one of New York City’s larger projects this year, Prestige Properties has announced the development of a 780,000-square-foot retail center in the Bronx, to be anchored by a new Macy’s store.
Cleveland State, Co-Developers Break Ground on $50M Mixed-Use
In conjunction with partners Polaris Real Estate Equities and Buckingham, Cleveland State University has begun a $50 million residential project, the largest single such development in the city for more than three decades.
DivcoWest, Stockbridge Capital JV on $47M San Diego Office
In a $47 million transaction, DivcoWest and Stockbridge Capital have teamed up to acquire the 160,000-square-foot Genessee Executive Plaza in the University Town Center submarket in San Diego.