USAA Real Estate’s James Loyd
San Antonio-based USAA Real Estate Co., a division of insurance and financial services firm USAA, manages more than $4.4 billion in real estate assets. ...
Economists See Job Losses as Mild
May’s employment numbers released today by the U.S. Department of Labor come as no surprise to economists. The government reports that the unemployment rate rose from 5% in April to 5.5% in May, with non-farm payrolls down by 49,000 jobs. ...
DEALS & PROJECTS
Falcon Real Estate Investment Co. has acquired Heidelberg U.S.A. headquarters in Kennesaw, Ga. for $22.3 million. The acquisition was part of a 1031 exchange...
In Progress: Park Place
DEVELOPER: Canyon-Johnson Urban Fund and Donatelli Development LOCATION: Washington, D.C. SIZE: 161 residential units, 16,000 sq. ft. of retail space...
Joint Venture to Focus on Real Estate Securities
A Connecticut-based hedge fund manager and a New York real estate company are teaming up to develop investment products focused on publicly traded real estate securities. ...
MIT Buys $90.5 Million Life Sciences Portfolio
The Massachusetts Institute of Technology (MIT) this month purchased a four-building complex of biotechnology buildings in Cambridge from a family trust for $90.5 million....
Is Self-Storage Recession-Proof?
Self-storage real estate investment trusts (REITs) reported total returns of more than 23% year-to date at the end of April, based on an index maintained by the National Association of Real Estate Investment Trusts. ...
Macklowe Portfolio Fetches Almost $4 Billion
In the largest commercial real estate acquisition deal of the year, Boston Properties reports it is buying a portfolio of four New York City office properties, including the General Motors Building, from Macklowe Properties for a total price of about $3.95 billion....
NAR Sees Slim Ray of Light for Commercial Sectors
The U.S. economy will likely avoid a recession and pick up in the second half of this year, according to the National Association of Realtors, which expects the commercial property market to turn in a mixed performance....
NBS Real Estate Capital Buys Mahew Tech Center for $9 Million
NBS Real Estate Capital has purchased the Mayhew Tech Center, a two-building flex-office property in the Highway 50 Corridor submarket of Sacramento, Calif. for $9 million. ...
Lack of Public Policy Debate In Presidential Race Irks CNN’s Dobbs
A self-described independent populist, CNN business anchor Lou Dobbs has a strong message for the top three U.S. presidential candidates:...
First Transit-Oriented Development En Route to Austin
Construction has begun on the first mixed-use development designed around a commuter rail station in Austin, Texas....
CBRE Closes $2.1 Billion Fund for Institutional Properties
CB Richard Ellis Investors has closed CB Richard Ellis Strategic Partners U.S. 5 to new investors, having raised equity commitments of $2.1 billion from institutional investors in the United States, Europe and the Middle East. ...
The Plant Sprouts Concept Store in Final Anchor Space
A retail power center developed on the site of a former General Electric motor manufacturing plant in San Jose, Calif., has completed leasing of its 10 anchor store spaces....
Universities Acquire Former Hospital for $45 Million
Two New Jersey universities have purchased a 20-acre hospital site in Westwood, N.J. and plan to convert the former acute-care facility into a medical school. Hackensack University Medical Center and Touro University College of Medicine purchased the former home of Pascack Valley Hospital for $45 million...
Can CalPERS Get Its Mojo Back?
Life at the nation’s largest pension fund is anything but peaceful these days. ...
RREEF Marketing Industrial Portfolio
San Francisco-based RREEF Real Estate is now looking over bids for an eight-building, 1 million sq. ft. portfolio of industrial buildings that it recently brought to market....
Landlord Concessions Boost Manhattan Rents
Manhattan office rents continued their upward climb in the first quarter, even as landlords made concessions that sweetened deals, effectively lowering costs for tenants....
Trade Associations Warn Against Ratings Proposals
Trade associations with an interest in the commercial mortgage-backed securities market say recommendations on structured finance ratings from a government body set up to examine underlying causes of turmoil in the financial markets could potentially undermine liquidity and access to credit....
Bellwether HFF Reports First-Quarter Earnings Downturn
Citing continued dislocation in the capital markets, the parent company of commercial real estate capital intermediary Holliday Fenoglio Fowler LP, HFF Inc., reports a steep drop in first quarter revenue compared with the same period last year....
DEALS & PROJECTS
CPA, an affiliate of W. P. Carey & Co., has acquired four manufacturing facilities from Best Brands Corp. for approximately $50 million. The facilities...
Regulators Turn Up Heat On Local Banks
Community and mid-size banks, which comprise the bulk of all commercial real estate lending in this country, are once again under the watchful eye of...
Symbols of the Modern World
It may go down on record as one of the most wrongheaded obituaries ever conceived. The modern skyscraper, given up officially for dead by real estate...
Dimming Job Prospects for Class of'08
What a difference a year makes. Last spring, armed with master's degrees and plenty of ambition, graduates of top real estate programs across the country...
Is Real Estate Sentenced to Hard LIBOR?
A spike in a common benchmark interest rate for commercial real estate lending will increase debt service on many floating-rate loans but isn’t cause for alarm, according to industry observers. ...
