Headlines
Ares Management Acquires AREA Property Partners
In one of the industry’s biggest transactions of 2013, Ares Management has signed a definitive agreement to acquire AREA Property Partners, the top-level real estate management firm investing across North America, Europe and India.…
American Campus Communities Breaks Ground at Princeton
American Campus Communities has begun construction on a 325-unit faculty and staff housing project at Princeton University, its second development at the New Jersey school but the REIT’s first that’s not for students.…
Big CMBS Play Will Put KeyBank into Top Tier of Servicers
KeyBank Real Estate Capital, the CRE business unit of KeyCorp, has entered into a series of agreements that reportedly will make it the nation’s third-largest named servicer of commercial/multi-family loans, with a commercial mortgage servicing portfolio of about $205 billion.…
Economy Watch: Senior HomeBuilders More Optimistic; Fed Expands Oversight; Gas Prices Moderate for Summer
The 55+ Single-Family Housing Market Index increased 19 points year over year to 46 in the first quarter of 2013. The central bank is expanding its oversight beyond banks and into other kinds of financial institutions. And the price of regular gasoline nationwide is expected to average $3.53 per…
L.A. City Council Approves BNSF Railway’s $500M Intermodal Facility
BNSF Railway’s $500 million Southern California International Gateway took a big step forward last week with Los Angeles City Council's approval for the 156-acre project. …
Ares Management to Acquire AREA Property Partners
Ares Management has signed a definitive agreement to acquire AREA Property Partners. Ares Real Estate Group will now have $8 billion of committed capital and more than 70 investment professionals. …
GID Development Group Constructing Seattle Apartment Tower
GID announced plans to build a 41-story, LEED Silver certified multi-family high-rise in the heart of downtown Seattle near Amazon.com's world headquarters. …
Economy Watch: Strong Q1 for Fannie Mae; Weekly Unemployment Claims Hit Pre-Recession Mark; Student Debt May Slow Growth
Fannie Mae posted a record $8.1 billion in income during the first quarter of 2013. Student debt may impede future economic growth. And unemployment claims for the week ending May 4 were 323,000—the lowest level since before the Great Recession…
Trammel Crow, Principal Sign ConocoPhillips to 850 KSF Lease in Houston’s Energy Corridor
The energy company will be the sole occupant of a 550,000-square-foot office tower scheduled for completion in 2015 and will move into an additional 300,000 square feet at a companion building the following year.…
Hines Sells 2 Manhattan Trophy Towers for $1B-Plus
American Realty Advisors won the competition for 499 Park Ave., and J.P. Morgan Asset Management has acquired 425 Lexington Ave.…
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