News
Brookfield Multiplex Lands $410M Qatari Construction Contract
Brookfield Multiplex Medgulf WLL, the consortium of Canadian-owned Brookfield Multiplex and the local insurance and reinsurance firm Medgulf has been awarded a QAR1.5 billion (or approximately $412 million) construction contract for a section of Msheireb Downtown Doha, a redevelopment project in Doha, Qatar.
Shinsei Bank Ltd. Set to Bet Newly Formed REIT on Health Care Lending for Aging Japanese Population
Japan-based Shinsei Bank Ltd. is reportedly set on creating a brand new real estate investment trust that would focus all of its attention on a niche market.
Magellan Launches First Apartment Development in Twin Cities
There has not been an apartment tower built in the downtown Minneapolis market for more than three decades. But that is about to change, with the start of construction on a new high-rise apartment community in the city’s Loring Park area from Chicago-based Magellan Development Group LLC.
Economy Watch: CBO Details Impact of Fiscal Cliff
The Congressional Budget Office—which, despite the name, Congress is under no obligation to listen to—reported on Thursday on the “economic effects of reducing fiscal tightening.”
TODAY’S DEALS: Norris, Beggs Arranges a $26.5M Acquisition Mortgage
Norris, Beggs arranges a $26.5 million acquisition mortgage; and Boston Capital invests in the rehabilitation of two multifamily apartment communities for seniors in Virginia.
Grandbridge Closes on $6.2M Loan for Arkansas LEED Platinum Student Community
Grandbridge Real Estate Capital recently closed on a $6.2 million first mortgage loan for a student housing community near the University of Arkansas.
Austin Student Housing Trades for $46.7M
Crescent Resources has sold Circle West Campus for $46.77 million to an undisclosed buyer.
$300 Million Grand Hyatt Hotel and Residences Announced in Manila, Philippines
Property developer Federal Land Inc. recently announced it has entered into a joint venture with Japan-based financial services group Orix Corp. to develop a $300 million mixed-use facility in Bonifacio Global City, Manila, Philippines.
Artists Lofts Opens in St. Louis
Metropolitan Artist Lofts, a redevelopment of a vintage 1908 property in St. Louis, has opened for occupancy.
Four Points by Sheraton Berlin Airport to Open in 2014
Starwood Hotels & Resorts Worldwide Inc. has announced plans to introduce Four Points by Sheraton Berlin Airport in Germany’s capital city.