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Archive for ‘February, 2010’

Public Tiff Between Simon and GGP Continues with Statements on New $2.5B Bid

Public Tiff Between Simon and GGP Continues with Statements on New $2.5B Bid

It all seemed to have started out innocently enough, with Indianapolis-headquartered Simon Property Group Inc.’s $10 billion cash offer on February 8 to buy beleaguered Chicago-based General Growth Properties Inc. But now it’s turned into a written war of words.

Healthcare Trust of America Acquires 54,800 SF Medical Office Portfolio for $10.5M

Healthcare Trust of America Acquires 54,800 SF Medical Office Portfolio for $10.5M

Healthcare Trust of America, Inc., on Thursday announced its acquisition of a Pearland, Tex. medical office portfolio for $10.5 million. The purchase expands the real estate investment trust’s Texas portfolio to more than one million square feet.

Port Authority Awards $542M Contract for WTC Transportation Hub

Port Authority Awards $542M Contract for WTC Transportation Hub

The Port Authority Board of Commissioners has awarded the largest contract to date — $542 million – to Skanska USA Civil Northeast, Granite Construction Northeast, and Skanska USA Building.

AuctionPoint Embraces Orange County Market

AuctionPoint Embraces Orange County Market

The founders of AuctionPoint, an online auction tool for commercial real estate brokers, believe their program’s performance in Orange County, Calif., portends well for the local market. Since its inception in fall 2009, AuctionPoint has been involved in the closure of ten Orange County commercial condo deals.

Economy Watch: Apple Sets Retail Sights on China

Economy Watch: Apple Sets Retail Sights on China

Reports from Apple Inc.’s annual shareholder meeting in Cupertino, Calif., on Thursday noted some retail expansion news from the leading gadget-creator of our time. Namely, the company plans to open 25 stores in China over the next two years; apparently Steve Jobs himself mentioned the plans.

RCA Report: Investment Market Rebound Already Underway

RCA Report: Investment Market Rebound Already Underway

It comes as no surprise that 2009 was a bad, bad year for property sales across the globe. According to Real Capital Analytics’ new Global Capital Trends report, the volume of commercial property sold last year reached only $381 billion, a staggering 30 percent drop from 2008.

Bankrupt $3B Fontainebleau Las Vegas Project Gets Scooped Up by Icahn for $150M

Bankrupt $3B Fontainebleau Las Vegas Project Gets Scooped Up by Icahn for $150M

Despite the fact that the gaming industry in Las Vegas is struggling, Icahn Enterprises L.P.’s acquisition of the Fontainebleau casino and resort project is still quite a deal.

Harrah’s Steps in as New Owner of Planet Hollywood Las Vegas

Harrah’s Steps in as New Owner of Planet Hollywood Las Vegas

Planet Hollywood Resort & Casino has come under new ownership now that a subsidiary of Harrah’s Entertainment Inc. has taken over the reins. PHW Las Vegas L.L.C. received approval from the Nevada Gaming Commission to officially own and manage the prominently located Las Vegas Strip property, taking it–and its remaining debt of $554 million–off the hands of previous owners BH/RE L.L.C.

Economy Watch: Bernanke Speaks; New-Home Sales Wilt

Economy Watch: Bernanke Speaks; New-Home Sales Wilt

Twice a year, Federal Reserve Chariman Ben Bernanke reports to Congress on the economy, and Wednesday was the day. He promised low, low rates for a while longer–”an extended period,” which is a phrase that has turned up again and again from the Fed since the early days of the Panic of 2008.

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