In the largest of the three transactions, BRE snapped up the 500-unit Aqua Marina del Rey (pictured) in Marina del Rey for $166 million, a figure well below replacement cost.
In the largest of the three transactions, BRE snapped up the 500-unit Aqua Marina del Rey (pictured) in Marina del Rey for $166 million, a figure well below replacement cost.
Construction spending dropped in July to an annualized rate of $805.2 billion, a 1 percent decrease from the month before, according to the U.S. Census Bureau on Wednesday.
The much-anticipated S&P/Case-Shiller home price index for June was released on Tuesday, indicating that prices for single-family homes in 20 major U.S. metro areas rose 4.2 percent from June 2009.
The price tag on the approximately 7.9 million-square-foot portfolio included Simon’s assumption of nearly $1.6 billion of existing debt and preferred stock.
Consumers went on a (very) small splurge in July, according to the U.S. Department of Commerce, marked by a 0.4 percent increase in spending compared to June.
The premier office tower at 300 Park Avenue in New York City did not have debt attached to it a few days ago, but it does now.
Fed Chairman Ben Bernanke’s speech in Jackson Hole on Friday was, as usual, eagerly anticipated and then read line-by-line, word-by-word to figure out what the Fed might do next.
Proceeds from the 35-year, fixed-rate loan will go toward retiring an existing construction loan as well as recapitalizing the property.