News
DeBartolo Breaks Ground on Luxury Apartment Project in Daytona
Daytona, Fla.–A site in Daytona that was once destined to sprout a retail center is now on its way to becoming home to Andros Isles Apartments, a 360-residence luxury rental property.
Cash, Stock and the REIT Market
For REITs seeking to invest, a big benefit lies in their ability to use stock instead of cash, which allows them to keep leverage low while still pursuing opportunities with private sellers.
Economy Watch: One Hard Budget Vote Down, More to Come
As the world well knows, the federal government didn’t shut down over the weekend. A deal was done practically at zero hour, meaning that federal workers will be at work on Monday morning, $39 billion (or about 1/1000) of the federal budget will disappear, and tourists will have something to do in D.C. this week.
Heller Appointed as Green Growth Councilor
San Francisco–Jeffrey Heller, FAIA, president and founder of Heller Manus Architects, has been appointed to the Green Growth Leaders’ Council, an international alliance of leaders dedicated to accelerating the green economy.
‘Gimme Shelter’ with Daniel Gehman: Same-Day GB/GO–Feels Like Good Times
With unemployment dropping, money finally becoming available, and construction remaining on sale, there’s a window of opportunity in the multifamily space unlike anything we’ve seen in a while.
Ground Broken for Mixed-Use CityCenterDC in Heart of D.C.
Washington, DC–Hines and Archstone broke ground this week on the CityCenterDC development, a mixed-use project on 10 acres in downtown Washington.
Development of $1B Mixed-Use Project in Northern Virginia Begins
McLean, Va.–Development of One Loudoun, a sprawling 358-acre master-planned community in McLean, Va., has officially gotten underway.
TODAY’S DEALS: IPA Sells $27.6M Property in Connecticut
IPA sells a 192-unit Connecticut property for $27.6 million; Cushman & Wakefield brokers a $14 million trade in Westchester, N.Y.; and NorthMarq arranges $15 million in combined first-mortgage financing.
REITs Rule Today’s Market–under the Right Circumstances
New York–The message from the NYU Schack Institute of Real Estate’s REIT Symposium was that it’s a good time to be a REIT, but the opportunities today are not for everyone.
Economy Watch: Consumers in a Buying Mood
Retail sales came in strong in March; home prices have yet to find their bottom; and members of Congress continue their bickering without reaching a budget agreement.