- International Beat
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Scotland’s Big Deal LaSalle Investment Management Kapitalanlagegesellschaft mbH recently purchased two retail properties in Scotland for a total of £58.6 million or more than $91 million. What do they have in common? Long term leases. One store, in Glasgow’s Style
- Market Trends
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Libor – What Is It? The recent debacle involving manipulation of the London Interbank Offered Rate caused many to wonder what exactly it is. This benchmark interest rate used throughout the world’s financial systems is determined by the British Bankers
- Regional Outlook
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East D.C.’s Big Deal The next fast food trend coming your way conveyor belt sushi. London based Yo Sushi opened its first U.S. franchise location in Washington, D.C.’s Union Station, with two more D.C. locations planned for this year. The
- Regional Outlook
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South Florida’s Big Deal Investors aren’t wasting away in Margaritaville, they’re buying hotels since May 2013 four hospitality assets in and around Key West, Fla., have sold. Ashford Hospitality Trust bought the 142 room Pier House Resort and Caribbean Spa
- International Beat
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Japan’s Big DealJapan’s second richest man and founder of the telecom company SoftBank bought Tokyo’s landmark Tiffany Building in the luxury Ginza shopping district for $326 million, well above the $257 million asking price, according to Reuters. Masayoshi Son’s pricey
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South Houston’s Big Deal A new spec office building is big news in most markets in Houston, the story is that the property is fully leased before it even opens. Technip USA will occupy all 17 floors of Energy Tower
- International Beat
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England’s Big Deal Until recently, office acquisitions outside of London were rare. But the sale leaseback of One Angel Square in Manchester, England, for £142 million, about $217 million, by German based RREEF Real Estate, signals that foreign investors are
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International Buyers Seek Apartments In the past 15 months, international real estate investors have sought security in the U.S. multifamily market, according to Jones Lang LaSalle. Canadian investors have spent close to $3.2 billion in the U.S. multifamily market, followed
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South South Florida’s Big Deals Institutional buyers are dipping into smaller markets for strong retail assets Iowa based Principal Global Investors, along with Woolbright Development in Boca Raton, Fla., purchased the Pompano Marketplace in Pompano Beach, Fla., for around $30
- International Beat
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Finland’s Big Deal Stockholm based private equity firm NIAM is confident about the future of Helsinki’s office market. The firm purchased a portfolio comprised of 15 office and two retail properties in the city totaling more than 100,000 sm at
- International Beat
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Dublin’s Big Deal Dublin’s largest hotel was sold out of receivership for €67 million, or about $87 million, to the Blackstone Group, which owns the Hilton brand, among others. The Burlington Hotel sold for about one fifth of what developer
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West San Diego’s Big Deal The aptly named DiamondView Tower — whose 15th floor skybox overlooks the San Diego Padres field — sold for $121 million, the area’s largest single office building sale for 2012, according to CBRE, which handled
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Briefly Noted Hospitality — "The gates are opening for eager private equity and institutional buyers to take calculated risks in primary and secondary markets, says Arthur Adler, managing director and CEO Americas for Jones Lang LaSalle Hotels. He adds that
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SouthBig Deal in Texas Warren Buffett’s favorite furniture store plans to enter the Texas market in a big way Nebraska Furniture Mart — owned by Buffett’s Berkshire Hathaway — has announced a $1.5 billion development anchored by a 546,000 sf
- International Beat
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Hong Kong’s Biggest DealIn what Jones Lang LaSalle calls “the largest deal ever recorded in Hong Kong’s history,” Mapletree Investments purchased Festival Walk shopping center from Swire Pacific for $2.4 billion, as its first Hong Kong acquisition. Analysts predict it
- International Beat
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Singapore’s Big Deal The Hong Kong based Park Hotel Group sold the Park Hotel Clarke Quay in Singapore to Ascendas Hospitality Trust for $238 million, or around $700,000 per room, according to Jones Lang LaSalle. The sale tops the list
- International Beat
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Rome’s Big Deal Low cost clothing brand H&M is taking over Italian born Benetton’s flagship store in on Via Tomacelli in central Rome. The Swedish company purchased the former Unione Militare landmark building for $235 million. The 1901 landmark building
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Maybe the Worst Is Over? While the number of stores closed in 2012 increased by 9.6 percent over 2011, the amount of retail square footage lost to the market decreased by 28.8 percent, according to the International Council of Shopping
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South Orlando’s Big Deal Location, location, location convinced Hyatt Hotels Corp. to buy its sixth hotel in the Orlando market — the Peabody Orlando adjacent to the Orange County Convention Center. Hyatt purchased the 1,641 room hotel for $717 million
- Regional Outlook
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South Nashville’s Big Deal In June, Nashville cut the ribbon on Tennessee’s most expensive municipal project the $600 million Music City Center. With the new 1.2 msf convention center, Nashville hopes to corner the market on trade shows and events,
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2013 Construction Uptick Although nonresidential construction was subdued in 2012, commercial construction spending will accelerate by 5.2 percent this year, according to Associated Builders and Contractors. Office construction spending is expected to rise 10 percent, with lodging up 8 percent,
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High Priced Office Markets The location for the top five most expensive streets for office space — San Francisco Bay Area, New York City, Fairfield County, Conn., and Washington, D.C. — haven’t changed in two years, they’ve simply shuffled places,
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Invest in Detroit Now Despite the dire bankruptcy headlines, the time to buy in downtown Detroit is now, if Dan Gilbert hasn’t already bought it. Since 2007, the founder of Quicken Loans moved his corporate headquarters and 7,000 employees from
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Midwest Chicago’s Big Deal Here’s a classic value add deal in the Windy City Berkley Properties LLC purchased the 1929 Civic Opera Building for $125.8 million from Tishman Speyer, which bought it for $185 million in 2007. The 44 story
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Banks Take It Slow Banks will continue their slow deleveraging act for at least another year, according to Emerging Trends in Real Estate 2013, holding troubled assets while waiting for values to inch up. “As long as loans are current,