With the expected demand surge for medical office in the next few years, developers such as Duke Realty say a major trend for medical office this year would be the buy-up of vacant retail property for renovation, particularly the ghost buildings that defunct chains vacated due to the recession and obsolescence.
Most mall companies such as Simon Property Group, Taubman, Macerich and General Growth Properties (GGP) are already well into five-year plans of perfecting ways to conserve water and recycle waste, as well as using centralized management systems to save electricity and generate energy.
Ivanhoe Cambridge, a subsidiary of a large Canadian institutional fund, has partnered with Callahan Capital Properties to continue its large bet on the Chicago market, recently closing the $361 million purchase of Riverside Plaza in the West Loop.
There are nearly 23 million veterans in the United States today, more than half of whom are 60 years or older. Yet a significant percentage of the veteran population doesn’t know about the governmental benefits available to them when it comes to seniors housing.
Heading into 2014, skilled nursing facility owners, operators and investors are dealing with a number of changes, such as Affordable Care Act requirements, plummeting occupancy and an increased amount of short-term patients, all of which will encourage renovation, sophistication and consolidation within the industry.
The hotel market has returned to almost normal since the recession, according to a recent Jones Lang LaSalle report, with growth in revenue per available room, the national occupancy up to almost the 2006 peak, $14.6 billion in transactions this year and lenders hungry to invest in hospitality.
The Midwest industrial market has responded well to the economic recovery, and according to some benchmarks has outperformed the coastal port cities that have traditionally been the power house markets for the sector.
The story of the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) program can be compared to the fable of David and Goliath. The building industry’s currently accepted green rating standard started small in 1999, but has now reached near-giant status. So it’s not surprising that in the past two years, LEED has been under attack.
The owners of the large CityCenter mixed-use complex in Las Vegas, Infinity World Development Corp. and MGM Resorts International, have successfully acquired more than $1.7 billion in loans to refinance debt on the property.