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Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building. “The Yards will change the city by creating this exciting, mixed-use riverfront neighborhood from former…

On a planet that’s getting gradually warmer, it could be one of the coolest, slickest recreational amenities, and although it’s white, it’s also quite green. “It” is synthetic ice for ice rinks and arena.Now, faced with higher energy-related energy costs, some hospitality venues have taken note of its potential green maintenance savings. There are some very sizable installations of synthetic ice across the country. Viking Ice , Wilsonville, Ore., is one of the largest and most established makers of synthetic ice, and its product, a polymer bonded to a proprietary wood laminate core, has been installed at resorts and entertainment…

Boscov’s Department Store L.L.C. just announced that the United States Bankruptcy Court for the District of Delaware has signed off on the Reading, Pa.-headquartered company’s first-day motions, which were heard on Aug. 5. Sidelined by a souring economy that has put a damper on retail sales, Boscov’s filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code earlier this week. As part of its restructuring effort, the company plans shutter the doors of 10 of its 49 stores. Paving the way for Boscov’s to return to a healthy relationship with its vendors and keep the merchandise rolling…

It is hardly a secret to investment sales professionals that the retail sector is going through tough times and that the prospects for the rest of the year are uncertain at best. “We don’t have a crystal ball here, but I think the economy is the wild card,” said Dan Fasulo, managing director for Real Capital Analytics Inc. “This is the first consumer-led recession we’ve had in two decades.” Retail was also among the first sectors to bounce back in 2003-04 during the earlier part of the cycle, he noted. That said, Real Capital Analytics’ most recent analysis underscores how…

Under the government’s Military Housing Privatization Initiative, the pool of residential units at the United States Military Academy at West Point will be upgraded and expanded, and Balfour Beatty Communities L.L.C. has just been tapped to partner with the U.S. Army on the project. The 50-year commitment will kick-off with an eight-year initial development period valued at $207 million, and will ultimately encompass 824 units. The Military Housing Privatization Initiative, authorized 12 years ago by Congress, paves the way for the cost effective provision and operation of new and upgraded quality housing through joint ventures with private-sector entities. As the…

KeyBank Real Estate Capital has secured $163 million in loans to finance the purchase of 19 senior housing properties nationwide. The package will finance Emeritus Senior Living’s purchase of the 19 properties, which range in individual price from $2.9 million to $14.7 million. Upon the completion of the purchases, Emeritus will serve as proprietor of the sites, which are located natonwide. The portfolio consists of over 1,500 units in the properties, all of which are assisted living facilities, some with Alzheimer’s care. KeyBank used its long-standing relationship with Freddie Mac to close the deal on behalf of Emeritus. Freddie Mac…

Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months. Concord Debt Holdings is a joint venture between Winthrop Realty Trust and Lexington Realty Trust. Both companies are REITs, with Boston-based Winthrop owning a variety of commercial properties, and New York-based Lexington specializing in net-leased properties. Under the terms of the deal, contributions by Inland American will…

Just a day after Michael Rowan took the helm as president of GE Real Estate Americas’ equity business unit, he announced today that Arden Realty Inc. will expand its role from working on just the West Coast into a national office platform. Rowan (pictured) will lead all GE Real Estate equity investing operations, which include venture investments, direct investments, the Arden and InterPark operating platforms, its Canadian and Mexican equity investment portfolios and emerging markets equity investing in South America. GE Real Estate and Arden merged in May 2006. Over the past two years, Arden closed approximately $6 billion in…

More pain is in store for the U.S. commercial real estate market and the for the rest of the year, but reports of a meltdown are greatly exaggerated. That is the conclusion of CB Richard Ellis Inc.’s global chief economist, Raymond Torto (pictured), in a mid-year report. Difficulties in areas ranging from the job market to CMBS that will take time to resolve. Still, the economy should avoid the severity of the doldrums a generation ago, Torto argued. “We feel the headlines do not accurately reflect U.S. or global real estate fundamentals,” the report states. A generation ago, 12 months…

A flood of new office product in Miami and a slowing local economy will combine to start driving down rents in South Florida’s central business districts, predicts CresaPartners principal Charles Barton. ‘This one is an easy call,” Barton told CPN. Central business district office markets in Miami, West Palm Beach and Fort Lauderdale are feeling the pinch of the housing market crisis, as the mortgage industry and related businesses industries cut personnel and space. That trend compounds one that has already been unfolding for several years; commercial banks’ decisions to reduce space and move some back-office operations to South Florida…