CB Richard Ellis Inc. has netted a major client: The Federal Deposit Insurance Corp. has tapped the services firm to serve as primary advisor for the residential and commercial real estate it acquires from failed financial institutions. Terms of the deal were not revealed. CBRE will be tasked with the property management, leasing [...]

Representing proposed casinos in various parts of the Chicago region, executives from the three companies bidding for Illinois’ last available casino license presented their plans to the Illinois Gaming Board yesterday. The license has been in limbo since a 2004 casino proposal for Rosement, near O’Hare International Airport, became fatally tangled in legal and administrative [...]

Consumer spending numbers, as expected, are going nowhere but down. The U.S. Department of Commerce is reporting that personal consumer spending among Americans dropped 1 percent in October compared with the month before, which is the largest decline since September 2001. On the other hand, saving is up. Personal saving as a percentage of income [...]

On the heels of the Fed’s announcement of its multi-billion dollar plans to help the economy, investors can expect a wave of economic reports today including readings on durable orders, personal income and spending, as well as a weekly report on jobless claims. The Chicago purchasing managers’ report, a survey of regional manufacturing, will also [...]

The City Council of Valencia, Calif., has approved the $300 million expansion plan for Henry Mayo Newhall Hospital, under which the facility will gain a new patient wing and three additional medical buildings, along with a helipad and new parking structures. The 15-year master plan for the expansion aims to allow the hospital to [...]

The Bascom Group L.L.C. has acquired a 320-unit Class A apartment community in the Denver suburb of Aurora, Colo., in a $32.2 million deal with seller Steadfast Cos. The complex (pictured), known as Saddle Village Apartments, is located on 23 acres in a in the Saddle Rock subdivision of Aurora. The units range from one [...]

Matrix Development Group has acquired an 82-acre site in New Jersey that includes a total of some 342,000 square feet across 13 office and labratory buildings. The site has 2,000 feet of frontage on the New Jersey Turnpike near exit 8A. The price for the property has not yet been revealed. Steven Tolkach, managing [...]

Fluor Corp., a global construction and engineering firm, has revealed plans to relocate its United Kingdom headquarters to a SEGRO-owned business park, IQ Farnborough, in Hamphshire, England.SEGRO, a U.K. REIT, said the prelease for 210,000 square feet could be the largest this year in the U.K.’s South East office market and possibly the largest in [...]

A billion here, a billion there: pretty soon it adds up to real money, such as the $800 billion the Federal Reserve has committed to unclog the credit markets for homebuyers, small businesses and consumers. It’s a new multi-part initiative involving the purchase of about $500 billion of mortgage securities backed by Fannie Mae, Freddie [...]

Chicago-based Harrison Street Real Estate Capital L.L.C. has acquired a portfolio of 19 self-storage facilities across six states. The buyer was described only as “a national lending institution,” and the purchase price was not disclosed. The deal, according to Harrison Street, positions the company in the top 15 owners of self-storage assets nationally, by giving [...]