The 334,082-square-foot, four-building industrial park in Fort Worth has 20,000 to 56,000 square feet of space currently available for lease. Transwestern Principals Jeff Givens and Sarah LanCarte represented the seller and will be leasing the property.

Northbrook 820 LLC, a Wilson & Stonaker partnership, acquired the Northbrook Business Center from Fort Worth Northbrook Ltd. Transwestern Principals Jeff Givens and Sarah LanCarte represented the seller in the transaction…

Wilson & Stonaker Acquires Texas Industrial Park

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Cushman & Wakefield is marketing the sale of two medical office buildings located in Great Neck and Manhasset, N.Y. The assets total 70,167 square feet of space and are 88 percent leased to multiple tenants.

A Metro New York-area medical office portfolio comprising 310 E. Shore Road in Great Neck and 333 Shore Road in Manhasset is up for grabs for a reported $24.5 million. Cushman & Wakefield Managing Director Stephen Preuss, Director Benjamin Efraimov and Associates Denise Prevete, Kevin Louie Andreas Efthymiou and Kevin Schmitz will market the sale of the assets…

Long Island Medical Office Portfolio Hits the Market

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New York Life Real Estate Investors provided a 25-year mortgage and mezzanine facility for three Manhattan hotels totaling 1,179 guestrooms.

More than six months after acquiring ground leases for the land under three New York City limited service hotels with a total of 1,179 guestrooms, Los Angeles-based BH Properties has financed the portfolio with a $252.8 million mortgage and mezzanine facility secured by New York Life Real Estate Investors.

The financing obtained by New York Life Real Estate Investors was described as a cross-collateralized, 25-year facility…

BH Properties Lands $253M Loan for NYC Portfolio

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  • Ponzi investors are awaiting payouts from $4 billion pot
  • Cash for victims came from Jeffry Picower and JPMorgan

A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff’s Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though.

The Justice Department disclosed its payments to Richard Breeden, the Madoff Victim Fund administrator, in response to a Freedom of Information Act request from Bloomberg News. Breeden’s fees, which are being paid from cash in the fund, cover his work through 2016…

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Empire Office Inc., a leading provider of contract furniture solutions, will use the new office space to consolidate its growing Florida operations.

Denholtz Associates inked a new lease at The Times Building, a 180,000-square-foot office asset in Downtown Tampa, Fla. The new tenant, Empire Office Inc., a commercial furniture dealer with locations across the country, will occupy a 6,054-square-foot space at its second Tampa location.

Located at 1000 N. Ashley Ave., the 10-story office building features a completely renovated lobby and a new fitness center. Further amenities at The Times Building include a shared conference facility, café, on-site property management team and free downtown shuttle service. Empire Office Inc. will utilize the new Tampa office to support its growing Florida sales and installation business…

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Home prices in the U.S. increased 6 percent in the first quarter from a year earlier as competition heated up for a scarcity of listings.

Prices rose 1.4 percent on a seasonally adjusted basis from the previous three months, the Federal Housing Finance Agency said in a statement Wednesday. In March, prices climbed 0.6 percent from February, matching the average estimate of 15 economists.

Job growth is firing up demand for real estate, pushing buyers into bidding wars for the tight supply of homes on the market. There were 1.83 million previously owned homes available for sale at the end of March, down 6.6 percent from a year earlier, according to the National Association of Realtors…

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  • Home Capital woes combined with new tax measures cool market
  • Listings soar in first half of May as sellers rush in

Toronto’s hot housing market has entered a new phase: jittery.

After a double whammy of government intervention and the near-collapse of Home Capital Group Inc., sellers are rushing to list their homes to avoid missing out on the recent price gains. The new dynamic has buyers rethinking purchases and sellers asking why they aren’t attracting the bidding wars their neighbors saw just a few weeks ago in Canada’s largest city…

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The Naples Hotel Group (NHG) has appointed Charles Stallings as general manager of the Hampton Inn Plant City in Plant City, Fla., 20 minutes from Tampa. In his new role, he will be responsible for supervising the hotel’s operations, sales, marketing and guest satisfaction.

Having served in various management positions, Stallings has more than seven years of hotel expertise in operations and sales. Along with the company’s corporate team, he successfully managed to open Hampton Inn Plant City in March. Prior to joining NHG, he served as general manager for the Hilton Garden Inn Tampa Ybor Historic District. “Stallings has built a great team around him to set the hotel up for success,” Andrew Bou-Sliman, vice president of Acquisitions and Development for Naples Hotel Group, said in prepared remarks…

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The number of buyers using mortgages to purchase London homes fell by almost a fifth in the first quarter as high values and limited supply damped demand.

About 16,700 loans were advanced in the first quarter, a 19 percent decline from a year earlier, according to data published Wednesday by the Council of Mortgage Lenders. The homebuyers borrowed 5.4 billion pounds ($7 billion) in the period, a 22 percent drop…

London Home Loans Fall 19 Percent as Supply, Affordability Bite

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Bought in 1992 for $620,000 and listed sporadically since, the beachfront estate will have appreciated 7,600 percent if it sells for asking price.

In the early 1990s, Eli Wilner and his wife, Barbara, were living in East Hampton, on the South Fork of Long Island. The owner of a New York-based antique frame restoration and replication company, Wilner was “perfectly happy,” he said. “We had a nice house, a lot of privacy. And then friends of ours wanted to go out to visit Montauk.”…

A Huge Montauk Estate Hits the Market for $48 Million

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Verity Health System will use the 30-year loan to make mandatory seismic upgrades to Seton Medical Center in Daly City, Calif.

Petros PACE Finance and loan originator CleanFund Commercial PACE Capital Inc. have closed on the largest Commercial Property Assessed Clean Energy (C-PACE) transaction ever completed in the C-PACE market through Renew Financial’s C-PACE platform. Verity Health System will use the $40 million loan to make mandatory seismic upgrades to Seton Medical Center, an acute-care hospital in Daly City, Calif. Petros contributed half of the loan…

Largest C-PACE Deal to Fund CA Medical Center Retrofits

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Betterment wants to stake a claim on the wealthy before big banks do.

Citigroup Inc. doesn’t think its richer customers will drop their high-priced money managers in favor of automated investing, but Betterment LLC is betting it can prove the big bank wrong.

The robo-adviser—the largest among independent digital advice startups that popped up after the 2008 financial collapse—has overhauled its entire brand. The shift in marketing and advertising strategy is aimed at attracting more affluent customers just now becoming aware of the option. It’s also not a coincidence that Betterment’s pivot comes as more traditional players such as Vanguard Group Inc., Charles Schwab Corp., and even JPMorgan Chase & Co. are starting to use more technology when offering investment advice…

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The company’s upcoming 45-story office and retail skyscraper is the first development of its kind in the city’s central business district in eight years.

Hines is bringing something to Miami that hasn’t been seen in the city’s central business district in eight years: a big, Class A office tower. Hines just revealed plans to develop 110 10th St., a 600,000-square-foot office-led, mixed-use skyscraper that, at 45 stories tall, will take a prominent place on the Miami skyline…

Hines Unveils Miami Mixed-Use Tower Project

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  • Prices drop 2.5 percent in first decline since 2011, FHFA says
  • Buyers may be held back by affordability constraints

San Francisco, which in recent years had the biggest home-price gain in the U.S., was the country’s weakest market in the first quarter, with values falling for the first time since 2011.

Single-family home prices in the region that includes San Francisco and San Mateo counties dropped 2.5 percent from a year earlier, the worst performance among the 100 largest U.S. metropolitan areas, according to an index released Wednesday by the Federal Housing Finance Agency. Grand Rapids, Michigan, a relatively affordable area where prices jumped 13.7 percent, had the biggest gain…

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  • Hong Kong hedge funds are leaving Central as Chinese move in
  • It’s hard to hire top talent if you’re ‘sitting in a shoebox’

Benjamin Fuchs raised eyebrows five years ago when he opened his hedge fund next to a place selling live chickens in Hong Kong’s hustling, bustling Tin Hau neighborhood.

It was akin to choosing Queens over Manhattan in New York — or lowly Croydon over moneyed Mayfair in London.

But nowadays Fuchs is no outlier. He’s part of a swelling exodus of hedge funds from the tony confines of Hong Kong’s Central district, home to luxury landmarks like the Mandarin Oriental hotel…

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By the end of 2017, more than half of the company’s guestrooms in Las Vegas will have been upgraded. The renovation is expected to be complete during the second quarter of 2018.

Caesars Entertainment Corp. is launching a $90 million revamp of 1,270 guestrooms at Flamingo Las Vegas. The makeover is expected to be complete during the second quarter of 2018…

Caesars Launches $90M Makeover at Flamingo Las Vegas

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The combined company, which is expected to reach a total enterprise value of $4 billion, will own 230 shopping centers in 32 states.

In a stock-and-cash transaction valued at about $1 billion, Phillips Edison Grocery Center REIT I Inc. (PECO I) is to acquire real estate assets and the third-party asset management business of its sponsor and external advisor, Phillips Edison Limited Partnership (PELP), the companies announced…

Phillips Edison REIT to Acquire $1B in Sponsor Assets

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A larger-than-forecast decline in new-home purchases in April from the strongest pace in almost a decade indicates a pause in demand in the midst of the busy spring selling season, government data showed Tuesday…

U.S. New-Home Sales Fall More Than Forecast

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A joint venture between property developer China Resources Land (CRL) and office REIT NorthStar Realty Europe Corp. is buying 20 Gresham St., a trophy office building located in the heart of London. AXA Investment Managers is selling the property for roughly £300 million ($390 million). This marks CRL’s first foray into European real estate. NorthStar is investing approximately $34 million in preferred equity for the transaction. Cushman & Wakefield was hired to assist AXA with the sale back in February.

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Tristar Capital and RFR Holding have partnered to acquire Dexter Station, a 10-story, Class A office building in the city’s South Lake Union neighborhood.

A joint venture between Tristar Capital and RFR Holding has acquired Dexter Station, a 10-story, Class A office building in Seattle’s South Lake Union neighborhood from Stockbridge Capital for $286 million…

Facebook Seattle HQ Commands $286M

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  • Public Investment Fund may eventually control over $2 trillion
  • Saudi fund invested $3.5 billion in Uber Technologies in 2016

Saudi Arabia plans to expand its sovereign wealth fund into the world’s largest. The kingdom took a huge step toward that goal on Saturday when it signed billions of dollars of deals with Blackstone Group LP and SoftBank Group Corp.

The Public Investment Fund, or PIF, is at the center of Saudi Arabia’s efforts to diversify revenue away from oil under an economic transformation plan known as Vision 2030. The fund could eventually control more than $2 trillion, according to Deputy Crown Prince Mohammed bin Salman. The sale of a less than 5 percent stake in oil giant Aramco to the public will provide funds for investment…

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The facility will be located in an area of the metro with significant population growth and will be completed by the end of the second quarter of 2018.

Jernigan Capital Inc. has closed on a $9.2 million self-storage development investment in Tampa, Fla., selecting Phillips Development & Realty to build the proposed 70,888-square-foot facility.

The project will be located in an area of Tampa with significant population growth, namely on Falkenburg Road, near the Selmon Expressway. The development will be less than a mile from Top Golf and Bass Pro Shop as well as Westfield Brandon Shopping Centre, a high-end shopping mall with national retailers and restaurants…

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The big-ticket project will bring 3 million square feet of retail and entertainment space to East Rutherford, N.J., including the largest indoor DreamWorks Water Park in North America.

Triple Five Group of Cos. now has everything it needs to realize American Dream, a 3 million-square-foot retail and entertainment complex in East Rutherford, N.J. The developer recently closed a $1.7 billion private construction financing deal for the transformational project in the heart of metropolitan New York…

Triple Five Closes $1.7B Loan for American Dream

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  • Unity sees itself as key virtual-reality software developer
  • Funding round values Unity Technologies at $2.6 billion

Private equity firm Silver Lake has agreed to a $400 million investment in Unity Technologies, said John Riccitiello, chief executive officer of the gaming software maker.

The investment values the San Francisco-based company, which makes development tools for video-game creators, at $2.6 billion, according to a person with knowledge of the transaction. Regulators still need to approve the deal, Riccitiello said…

Silver Lake Invests $400 Million in Gaming Toolmaker Unity

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HYM Investment Group’s Thomas O’Brien opens up about the communities of tomorrow and the $1.5 billion project that brings daylight to Boston’s Congress Street for the first time in 50 years.

Boston’s growth has prompted investors to focus on complex mixed-use projects that will serve the city of tomorrow. This means transit-oriented, connected and inclusive communities. One of these projects is Bulfinch Crossing, the $1.5 billion, six-building development that is replacing the Government Center Garage, the product of a partnership between National Real Estate Advisors and The HYM Investment Group. Thomas O’Brien, founding partner & managing director of The HYM Investment Group, talked to Commercial Property Executive about the development and Boston’s transformation…

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Home Capital’s troubles started with “unlucky” brokers. That’s what Canadian banks and insurers call the mortgage merchants who get caught submitting fraudulent loan documents.

Home Capital Group Inc. disclosed that 45 independent brokers submittedloan applications that misstated borrowers’ income and other details. A securities regulator accused the company of misleading investors about the fraud, and that sparked a run on deposits at the lender. Yet the brokers, whose names are now on databases maintained by lenders and mortgage insurers, can still win business since they haven’t been pros…

In Home Capital’s Mortgage Mess, Blame the ‘Unlucky’ Brokers

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Leaders from JLL, Inland Group and Avison Young offered insights into the challenges, opportunities and misconceptions that mark retail real estate

Las Vegas—Though making deals is the main mission for the 30,000-plus RECon attendees hustling through the Las Vegas Convention Center this week, the state of the industry is also very much on the mind of those professionals. In conversations Monday at the International Council of Shopping Centers’ annual spring convention, senior executives offered perspectives that went well beyond the alarming headlines that have often surrounded the retail sector of late…

Top Execs at RECon Weigh In on Retail’s Prospects

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Canada’s exuberance with real estate is beginning to wane.

Weekly polling data show real estate price expectations have come down from record levels, in a sign that Canadians are anticipating housing markets in places like Toronto will finally cool. The share of people saying home prices will rise in the next six months fell for a second week to 46 percent, according to data compiled by Nanos Research Group for Bloomberg News. That’s down from 47.7 percent the previous week and below a record 50.1 percent two weeks ago…

Canadian Real-Estate Sentiment Slips After Home Capital Meltdown

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  • Puerto Rico hedge fund targets general-obligation bonds
  • Millennium Management fund gained 2.5% this year through April

A hedge fund at Emerging Sovereign Group that has bet against the Chinese economy sunk about 62 percent this year through April.

The Nexus fund dropped 8.2 percent last month, according to an email to investors seen by Bloomberg News. The April results mark at least the third consecutive month of negative returns for the fund…

Hedge Fund Plummets 62% After Betting Against the Chinese Economy

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It was one of the most bitter battles between a company and a hedge fund in years, a fight rife with insults and innuendo — and it ultimately led to a chief executive’s ouster.

But on Monday, with days to go before Arconic shareholders met to vote on directors, the industrial parts maker settled its monthslong dispute with the activist investor Elliott Management.

The pact ends what had been an intensely watched proxy fight on Wall Street, at a time when much of corporate America has accepted shareholder activists — investors who prod companies for changes in strategy — as a way of life…

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For years, Citigroup employees feared that millions of dollars the bank was moving to Mexico might be suspicious. Yet in many cases, the bank did not alert regulators or step up its monitoring for money laundering, federal prosecutors said Monday.

Even as the Citigroup unit Banamex USA was growing to dominate remittances from the United States to Mexico, the bank did not properly safeguard its systems from being infiltrated by drug money and other illicit funds, prosecutors said…

Citigroup Agrees to $97.4 Million Settlement in Money Laundering Inquiry

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Oakpointe Communities and Presidio Residential have received approval for the development of LakePointe Urban Village, a 214-acre master-planned community in Covington, Wash.

A 214-acre master-planned community will soon take shape in Covington, Wash., now that Oakpointe Communities and Presidio Residential Capital have received a requisite thumbs-up for the development called LakePointe Urban Village. Covington’s City Council recently provided the joint venture partners with unanimous approval to move forward with the suburban Seattle waterfront project, which will cost $670 million to develop…

Seattle Lands $670M Mixed-Use Project

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  • A boom in investor-backed construction by landlord REITs
  • Single-family rental communities, no lawn mowing required

It was a rare lucrative business for Wall Street in the aftermath of the financial crisis: snapping up properties in foreclosure and renting them out. So good, in fact, that now, as the distressed pool dries up, some investors are refusing to let the rental-model fizzle. They’re building more and more of the houses themselves.

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Industry veterans tackled oversupply, mixed-use development strategy and caveats during day one of ICSC’s annual retail real estate convention in Las Vegas.

At a time of rapid change and looming uncertainty for retail real estate, experts at RECon wasted no time before tackling the industry’s biggest issues during the first day of the International Council of Shopping Centers’ annual convention in Las Vegas.

The issue ahead is “how are we going to make the retail supply that we’re planning and projecting and built and received somehow match the retail spending that we have,” asserted Heather Arnold, director of research and analysis for Streetsense…

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  • Average asking prices in capital jump 2.1 percent in May
  • National price growth accelerates to annual 3 percent

London house prices rebounded in May, rising to a record as buyers and sellers defied the usual trend of holding off on property transactions before an election.

The average asking price in the city rose 2.1 percent from April to 649,864 pounds ($846,000), property website Rightmove Plc said on Monday, even with the upcoming U.K. general election on June 8. The annual rate of growth remained subdued at 0.9 percent following a 1.5 percent drop last month. That was the biggest annual decline in almost eight years…

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  • New RMBS issuance doubles this year to A$10.5 billion
  • Housing ‘market is extremely stretched,’ QIC economist says

Investors are lapping up mortgage bonds in Australia even as regulators and credit assessors step up their warnings about risks from the nation’s housing market.

New residential mortgage-backed securities issuance has more than doubled so far this year to A$10.5 billion ($7.8 billion) from A$5.1 billion a year earlier, data compiled by Bloomberg show. More than half of the issuance has been fueled by non-bank lenders. Those firms have fewer funding options compared with major Australian banks, which have been favoring unsecuritized debt at a time when costs are close to historical lows…

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The owner and operator of U.S. grocery-anchored real estate inked a binding agreement to purchase Mooresville Consumer Square, a 579,391-square-foot retail property in Iredell County.

Slate Retail REIT announced that it has entered into a binding agreement to acquire Mooresville Consumer Square for $51.3 million or $109 per square foot. The Walmart-anchored property is 97 percent occupied. Closing is expected to be completed in the second quarter of 2017 and remains subject to customary closing conditions. Slate Asset Management LP is the REIT’s manager…

Slate to Acquire $53M NC Retail Asset

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  • Largest banks exempted due to expected government support
  • S&P downgraded 23 institutions amid credit loss concerns

S&P Global Ratings downgraded the credit scores of almost all of Australia’s financial institutions as it warned about the risks of a property market downturn, though expectations of government support saw the largest banks spared.

Some 23 issuers had their ratings lowered, including Bank of Queensland Ltd., Bendigo & Adelaide Bank Ltd. and AMP Bank Ltd., as S&P warned that the country’s wider economic challenges added to the threat…

S&P Downgrades Most Australian Lenders on Housing Concerns

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  • U.S. 10-year yield may have already peaked for 2017, BMO says
  • Fiscal policy on hold, weaker inflation support bond market

A buildup in risk across the globe is getting too big for U.S. bond investors to ignore.

After staking their biggest bet ever against the $14 trillion Treasuries market at the start of 2017, hedge funds and other large speculators have had a rapid change of heart. Their net-long position in 10-year Treasury futures is now the most since December 2007, reaching 240,010 contracts as of May 16, U.S. Commodity Futures Trading Commission data released Friday show…

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The sale comes just after a lease JLL secured at the property brought the state-of-the-art, cross-dock facility to full occupancy.

JLL has closed the sale of 3850 Old Tampa Highway, an 119,257-square-foot industrial facility located near Tampa, in Lakeland, Fla. Graham Commercial Properties purchased the state-of-the-art, cross-dock facility for $7.7 million.

The sale comes just after JLL leased space at the facility to CHEP USA for the company’s new regional distribution center. The lease brought the property to 100 percent occupancy.

JLL Associate Ryan Vaught represented the property’s previous owner, Brian Pearlman, in both the sale and lease negotiations…

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  • BlackRock plans new fund that invests in consumer-loan ABS
  • Company already runs ETFs that buy mortgage-backed debt

Worried about paying off your university education, new car or shopping habit? Exchange-traded fund investors soon could be betting on that too.

BlackRock Inc.’s planned iShares Consumer Asset-Backed Securities ETF will investin notes supported by consumer loans, such as student debt and credit cards, according to a regulatory filing on Friday. If approved, it will be the first ETF to target the ABS market.

BlackRock spokesman Paul Young declined to comment because the firm’s still seeking approval for the fund…

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The health care company moved to the newly refurbished 65 Grove St. in Watertown, Mass., minutes away from its former headquarters at 134 Coolidge Ave. NGKF and Commonwealth Standard Realty brokered the lease.

Cresset Development signed a 14,450-square-foot lease at 65 Grove St. in Watertown, Mass., with biotechnology company Lyndra, which will occupy space on the third floor. The tenant relocated its headquarters from 134 Coolidge Ave., situated just ten minutes away. NGKF Executive Managing Directors Phil Giunta and George Nugent and Senior Managing Director Dan Krysiak acted on behalf of the owner, while Commonwealth Standard Realty represented the tenant…

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Paul Tudor Jones, the founder of Tudor Investment Corp., has invested in two artificial-intelligence startups as the money manager expands into strategies that employ big data.

The hedge fund manager has invested in CargoMetrics Technologies, an investment firm that uses tools such as satellite signals and shipping data to trade commodities, currencies and equity futures, according to a person with knowledge of the matter. He’s also backed Numerai, a San Francisco-based hedge fund that makes wagers using anonymously submitted models, said the person, who asked not to be identified because the information is private…

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  • Firm ‘just leapfrogged’ most of infrastructure world: analyst
  • Fund could benefit ‘significantly’ from Trump’s spending plan

Shares of Blackstone Group LP rose to the highest in 18 months after the private equity firm laid out plans for a $40 billion infrastructure fund.

The stock jumped as much as 7.1 percent Monday to $31.99, the highest since November 2015. It traded at $31.64 as of 11:06 a.m. in New York.

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Will the third time be the charm for Jon S. Corzine?

Mr. Corzine won a United States Senate seat after being maneuvered out of Goldman, eventually moving on to become governor of New Jersey. After losing the governorship to Chris Christie, he took over MF Global, which collapsed in 2011.

Now, Mr. Corzine, 70, is planning his next act: a hedge fund tailored to take advantage of the chaos of the Trump era.

In his first interview since the MF Global meltdown began, Mr. Corzine said that he would seek to anticipate how the Trump administration and other world leaders would enact policy…

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LAS VEGAS — The billionaire investor Steven A. Cohen may be barred from managing outside money until next year, but he has already hinted that he plans to get back into the hedge game.

The most telling sign yet? Mr. Cohen’s unexpected appearance at a Las Vegas hedge fund conference this week.

Mr. Cohen was seen late Thursday night playing craps at a table in the casino of the Bellagio Las Vegas, one of the city’s most extravagant hotels. Mr. Cohen, 60, was rolling the dice with Ilana Weinstein, a sister of the hedge fund manager Boaz Weinstein, at a table with a maximum bet of $5,000…

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1080 Park Place in Shakopee, Minn., was built in 1993 by The Opus Group and boasts full occupancy. Steve Dorff, senior asset manager with Meritex, will manage the property.

Meritex, a private real estate investment and management company, has just added a Class A, industrial facility in Shakopee, Minn., to its portfolio, for an undisclosed amount. The company tapped Senior Asset Manager Steve Dorff to oversee operations at the new property.

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The luxury retail destination, developed and owned by Whitman Family Development for more than five decades, will add roughly 340,000 square feet.

Bal Harbour Shops, the renowned 511,400-square-foot luxury retail destination in Bal Harbour, Fla., is on the verge of a $400 million makeover. This week, the Bal Harbour Village council gave the long-awaited final green light for Whitman Family Development, owner and developer of the 52-year-old The Shops, to increase the size of the open-air shopping center to approximately 860,000 square feet…

Bal Harbour Shops to Undergo $400M Expansion

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The Education Department on Friday took up an Obama-era plan to streamline federal student loan servicing by moving to a new, single platform for managing the loans of 43 million borrowers.

The department had indicated it might jettison the previous administration’s initiative, which was intended to simplify a system that consumer advocates have complained is overly complex and rife with poor customer service.

Choosing a single vendor to manage the loans also carries risk, as that entity would construct the most visible online government portal since the Affordable Care Act program website, HealthCare.gov

Education Dept. Keeps Obama Plan to Streamline Loan System

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Stream Data Centers was tapped to develop the 56,000 square-foot-building by the end of this year. Upon completion, the center will incorporate two utility feeds from two separate substations designed to support 2.4MW of IT data load.

Stream Data Centers agreed to lead the construction work at the latest U.S. Bank data center located in Chaska, Minn. The single-story, 56,000-square-foot facility is expected to cost $250 million to build, and should be operational by the end of this year.

Upon completion, the center will incorporate two separate substations designed to support 2.4 MW of IT data load. The concept for the data center combines structurally enhanced buildings, independent infrastructure and high-quality operations…

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  • Unit sales drop 16% in first two weeks of May, data show
  • New house listings soar 47% as price growth slows to 17%

Home price growth in Toronto slowed in the first two weeks of May and sales fell 16 percent from last year, signaling that a new tax on foreign buyers and funding crisis at mortgage lender Home Capital Group Inc. may be cooling the market in Canada’s biggest city.

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As President Trump begins his first presidential trip abroad in Saudi Arabia, an investment company run by one of his top supporters, the billionaire Stephen A. Schwarzman, has secured an enormous investment from the Middle Eastern kingdom.

The company, Blackstone, which Mr. Schwarzman helped found, said on Saturday that Saudi Arabia’s sovereign wealth fund had committed $20 billion to a new investment fund aimed at infrastructure projects, primarily in the United States.

The commitment is about half of the capital Blackstone plans to raise for the fund. All told, including potential borrowed money, the new fund could invest more than $100 billion in infrastructure projects, the company said in its statement…

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HFF marketed the sale on behalf of Griffin Capital, who acquired the property in 2007 for $24 million from DPR Construction. The sale of 1450 Veterans Blvd. was subject to a $17.9 million loan held by Northern Trust.

Rees Properties Inc. acquired a three-story, 53,000-square-foot office building in downtown Redwood City, Calif. for $32.3 million from Griffin Capital.

The sale of 1450 Veterans Blvd. was subject to a $17.9 million loan held by Northern Trust. HFF’s Michael Leggett, Gerry Rohm, Ben Bullock and David Dokko represented the seller and were also responsible for procuring the buyer.

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  • Apple, Qualcomm and Saudis are backing new tech fund
  • Son’s spending spree may inflate valuations, crimp returns

When Masayoshi Son was a boy growing up on Japan’s southern island of Kyushu, he kept a notebook to scribble down new inventions he hoped to create one day. Today, the SoftBank founder has almost $100 billion to invest on making the next big thing a reality.

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West Elm, Common Desk and C.H. Robinson are the new tenants announced for the recently rebranded Crockett Row at West 7th. They will open in phases and will occupy a combined 36,000 square feet of retail and office space.

A shopping center called West 7th in Fort Worth, Texas, has unveiled its new name and branding, Crockett Row at West 7th. Vestar, the manager of the shopping center, teamed up with The Woodmont Co. to lead the rebranding process and a strategic leasing campaign for the property’s street-level retail space. The leasing team, led by Peter Jacobsen, senior vice president of Woodmont, and Erik Coslik, has secured several new tenants.

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Construction at the new 175,000-square-foot corporate campus in Elk Grove Village, Ill. began last year in April. The facility offers a variety of spaces designed for office, showroom and warehouse use.

The Opus Group has completed its second corporate project this month—the ready-to-fit headquarters of MC Machinery Systems Inc., a subsidiary of Mitsubishi Corp. The 175,000-square-foot mixed-use facility in Elk Grove Village, Ill. took one year to complete…

Opus Finalizes MC Machinery’s HQ

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  • Investors include Saudi Arabia, Abu Dhabi, Apple, Sharp
  • Fund targets $100 billion with final close within six months

SoftBank Group Corp. and Saudi Arabia formally announced the first round of capital commitments for the largest-ever technology investment fund, as founder Masayoshi Son seeks to accelerate his financing of cutting-edge technologies and startups.

More than $93 billion has been secured from backers led by the Japanese company and Saudi Arabia’s Public Investment Fund, SoftBank said in a statement Saturday. Abu Dhabi’s Mubadala Investment Co., Apple Inc., Qualcomm Inc., Foxconn Technology Group and Sharp Corp. are also investing, and SoftBank aims to reach $100 billion with a final close within six months. Mubadala committed $15 billion, according to a separate statement…

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Categories : Finance
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China Hengshi Foundation Co. is locating new operations in Richland County. The facility is expected to create a little under 50 jobs.

Fiberglass fabric provider China Hengshi Foundation Co. plans to locate its new manufacturing operation in Columbia, S.C. The company will occupy a former Boozer Lumber Truss industrial space. After an $11.1 million investment, 48 jobs will be created at the 111,000-square-foot facility. The Coordinating Council for Economic Development has approved job development credits related to this project.

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The 37 logistics facilities and nine office assets are located in key markets including Dallas, Los Angeles, Denver, the Inland Empire and the San Francisco Bay Area.

The JLL Capital Markets team did double duty on the sale of an $854.5 million logistics and office portfolio, completing the transactions of 46 assets in 12 states and securing $475.5 million in acquisition financing.

Brookfield-sponsored private equity funds purchased both portfolios consisting of 37 assets across 7.6 million square feet in logistics facilities and nine assets totaling 1.1 million square feet of office space from TA Realty. The transaction, first announced in early April by TA Realty, includes assets in key metro areas such as Chicago, Dallas, Los Angeles, Atlanta, Boston, Denver, Houston, Las Vegas, Orlando, Washington, D.C., and the Inland Empire and Bay Area in California…

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Since the recession, funding for construction has cratered.

One effect of the U.S. housing market crash was to cripple homebuilders and their lenders, forcing construction workers to find jobs in other fields. Today, homebuyers have returned to the market in full force, but the lack of new construction over the last decade has contributed to an inventory shortage that’s pushed home prices out of reach for many.

Now, the same young homebuyers who must cope with bidding wars to buy a first home may face a shortage in another key resource: schools for their kids.

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Categories : Real Estate
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