The 78, Related Midwest’s 62-acre master-planned development, will become home to The University of Illinois System’s innovation center, Discovery Partners Institute.

Related Midwest, the Chicago office of multifamily and mixed-use developer Related Cos., has just secured an anchor for The 78, a 62-acre master-planned community in Chicago for which the company is serving as master developer. The University of Illinois System will build Discovery Partners Institute, a $1.2 billion public-private research and innovation center, at the sprawling site.

“Leveraging Related’s extensive experience in international placemaking, The 78 will be a transformative downtown neighborhood designed to respond to the rapidly changing demands of future generations, making it the ideal location for a dynamic institute like DPI,” Curt Bailey, president of Related Midwest, said in a prepared statement…

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Located in the heart of Westlake Village, Calif., the 29,783-square-foot medical building was sold for $8.9 million. The Pacific Bridge Team arranged the transaction.

SVN – Rich Investment Real Estate, a full-service commercial real estate brokerage firm, sold a 29,783-square-foot medical building located at 3180 Willow Lane in Westlake Village, Calif. Both sides of the transaction were represented by SVN – Rich Investment Real Estate’s partner, the Pacific Bridge Team of commercial real estate advisors, which consists of Jeff Albee, Travis Albee and Tilden Moschetti.

“With this sale, Willow Lane will be entirely renovated and will continue attracting top-tier medical professionals to serve the local community,” said Travis Albee, vice president of SVN’s Pacific Bridge Team, in prepared remarks…

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The 110-acre property is home to more than 2 million square feet of office and industrial space in Torrance, Calif., including special amenities such as a data center, hydrogen fueling stations and helipads.

Sares-Regis Group, of Irvine, Calif., has completed its purchase of Toyota’s former Los Angeles–area national headquarters, an approximately 110-acre complex totaling more than 2 million square feet of office and industrial space in Torrance, Calif., JLL Capital Markets announced.

Managing Director Jeff Adkison and Senior Vice President Brendan McArthur led the JLL team on the sale…

Sares Regis to Redevelop Former Toyota HQ

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The Virginia-based company will run the 109-key hotel in Ohio. Homewood Suites by Hilton Columbus/OSU is in close proximity to the Ohio Stadium.

Homewood Suites by Hilton Columbus/OSU is now under Crescent Hotels & Resorts’ management. The newly built, upscale, 109-key hotel adds to Crescent’s growing management portfolio in North America.

Located at 1576 W. Lane Ave. in the Upper Arlington entertainment district, the hotel is two miles away from the Ohio State University and The Jerome Schottenstein Center and five miles from downtown Columbus. The building includes grocery shopping service, 24-hour pantry, indoor pool, fitness center and business center. Keys feature full kitchens, dining tables, pull-out sofas, free Wi-Fi, flat-screen TVs and balconies…

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SNI 5618 Investment LP purchased the 74-key Holiday Inn Express & Suites in Bay City, Texas, from Baywood Hotels. This is the second transaction CBRE Hotels closes in Bay City this year.

CBRE Hotels arranged the sale of Holiday Inn Express & Suites, a 74-key, limited-service hotel in Bay City, Texas. Houston-based SNI 5618 Investment LP acquired the asset from San Antonio-based Baywood Hotels for an undisclosed price. The transaction marks the first hotel acquisition for the buyer, which owns several apartment properties in the Houston area.

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Being manipulative and mean isn’t the secret to success, a new study by two psychology professors says.
Maybe the secret to success on Wall Street is being nice…
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Voit Real Estate Services arranged the sale of the 102-year-old Sante Fe Depot, which offers mixed-use development opportunities. Heritage Architecture & Planning will be in charge of restorations.
Prologis Inc. sold an iconic, 102-year-old property in downtown San Diego. The firm has been the sole owner of the property dating back to the original Santa Fe Railway Co., making this the first actual sale of the building. Serving as its new property manager, Voit Real Estate Services arranged the transaction of the local landmark known as Sante Fe Depot. Kipp Gstettenbauer and Ryan King of Voit’s Private Client Group—specializing in selling and leasing privately held assets in San Diego County— represented both the seller and the buyer…
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The company added the final beam of steel to 390 Madison Ave., a 32-story Midtown East building offering more than 860,000 square feet.

L&L Holding Co. has added the final beam of steel to 390 Madison Ave., topping out the former 291-foot tall, 24-story office building to its new height of 32 stories and 373 feet.

The re-massed mid-20th century building now has eight additional floors and offers more than 860,000 square feet of space, according to Yardi Matrix. It is being further transformed into a sleek, light-filled tower featuring massive column-free spans, high ceilings, modern infrastructure, a new façade of transparent, floor-to-ceiling glass, and 13 outdoor terraces…

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  • GE Shares Tumble After Third-Quarter Earnings Miss Estimates
  • Analysts Say ‘Reset’ May Mark Trough, Question Dividend

After General Electric Co. disappointed investors with its quarterly earnings and full-year forecast cut, the stock pared early losses, with several analysts saying the outlook is a total reset that may mark a trough for earnings. Others are now turning their attention to the company’s free cash flow and sustainability of its dividend after drilling into divisional results and stripping away extraneous charges. Shares dropped 0.3 percent to $23.51 at 1:25 p.m. in New York, after earlier falling as much as 6.3 percent, its worst slide in more than two years…

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The German automaker will produce electric SUVs under the EQ sub-brand by 2020. Plans also call for a global logistics center, an after-sales North American hub and an electric battery factory near the Tuscaloosa facility.

Daimler AG, which will invest an additional $1 billion in its Alabama footprint, has become the latest automaker to announce plans to expand its manufacturing operations in the U.S. this year. The German company will manufacture electric SUVs under its Mercedes-Benz EQ sub-brand in Tuscaloosa, Ala., and also build several other projects in the region, adding about 2 million square feet in the state.

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Once regarded as novices, family offices are looking beyond stocks and bonds to pursue direct investments in companies and real estate. The most sophisticated are turning into investing giants.

Michael Gottdenker glimpsed the future over a bowl of pasta earlier this year, and he liked what he saw…

Wealthy Families Are Winning Deals Away From Private Equity

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The firm will occupy 3,000 square feet at The Pinnacle at Symphony Place, a 29-story skyscraper in the city’s South of Broadway district.

Foundry Commercial, a full-service real estate services and investment company, is relocating its Nashville office to The Pinnacle at Symphony Place, a 519,622-square-foot, Class A+ office tower in downtown Nashville, Tenn. The company, currently located in the city’s Cool Springs district, will occupy its new space on Dec. 1st.

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In recent years, the city has been riding favorable demographic trends, healthy job creation and a high demand for apartments. The metro’s population continues to grow at nearly three times the national rate.
In recent years, San Antonio has been riding favorable demographic trends, healthy job creation and a high demand for apartments. The metro’s population continues to grow at a pace nearly three times the national rate. The prime renter cohort, aged between 20 and 34 years old, accounts for much of this increase. A heavy new supply of apartments has put a damper on rent growth, up 1.1 percent year-over-year through August, trailing the 2.4 percent national average…
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Smaller metros with lower wage growth or constrained housing stocks could see rents rise the most from the Amazon HQ2, notes a new Apartment List report.

Bids to be the home of Amazon’s second headquarters, HQ2, were due on Thursday, and more than 50 cities (or metros with various polities collaborating) put in for what’s probably the biggest site selection prize of the 2010s. Now it’s up to the retail giant, which will announce the winner sometime in 2018.

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Have trouble sleeping at night? Perhaps the anti-ballistic bedroom doors, 15,000-square-foot bunker, and off-grid water and power access at this Atlanta home will make you feel a little more secure.
Call it the Wayne Manor of the South…
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Saudi Arabia is stepping up plans to turn its sovereign wealth fund into a global giant. This week, it’s holding a coming-out party of sorts for the Public Investment Fund, which is central to the government’s effort to diversify the economy away from oil, under a plan known as Vision 2030. The Saudis are hosting the titans of investing and finance at a summit that aims to raise the profile of the PIF, which could eventually control more than $2 trillion, according to Crown Prince Mohammed bin Salman. That explains why many eyes will be on — and private jets winging toward — the Saudi capital…

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Homeowners affected by the hurricanes in Florida and Texas are now falling behind on their mortgages…

Homeowners Hurt by Hurricanes Now Falling Behind on Mortgages

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LMN Architects rehabilitated the 800,000-square-foot multi-building asset and also added 137,000 square feet of new space. The project anticipates LEED Silver certification.

LMN Architects expanded and renovated the Greater Columbus Convention Center in Ohio. The $140 million, multi-building project added 137,000 square feet of new space and refurbished 800,000 square feet of the existing structure. Schooley Caldwell Associates served as associate architect for the project, with Corna Kokosing Construction Co. and Elford Inc. as construction manager.

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The city’s multifamily market continues to attract robust investor demand, with transaction activity hot off 2016’s cycle high and already at $1 billion year-to-date through July. The market boasts the fourth-highest occupancy rate among major U.S. metros. As a result, rents were up 4 percent year-over-year as of August, well above the national rate.
San Diego’s multifamily market continues to attract robust investor demand, with transaction activity hot off 2016’s cycle high and already at $1 billion year-to-date through July. The market boasts the fourth-highest occupancy rate among major U.S. metros. As a result, rents were up 4 percent year-over-year as of August, well above the national rate…
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From Beijing to Rio de Janeiro, housing affordability is a challenge
As people around the world move into cities and look for housing, one thing is clear: Most will have a hard time paying for it…
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JLL signed new tenants InVue and Aquafil, bringing Colony NorthStar’s industrial portfolio to full occupancy. The market’s record-low vacancy and all-time high absorption rates made for an attractive investment opportunity.

Colony NorthStar recently acquired a two-building Phoenix portfolio for $18.7 million—Reywest Commerce Center and Reywest Industrial Park. The properties are located at 3602 and 3555 W. Washington St., respectively.

At the time, the properties were 46 percent occupied. JLL’s Phoenix office completed a final lease, bringing both to full occupancy. The two firms have an ongoing relationship: JLL brokered the sale of another Phoenix industrial portfolio, for $39 million, earlier this year…

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  • Fund made money buying AAC shares after short-seller attack
  • It also owns share in Chinese developers Evergrande, Sunac

Betting against the short-sellers helped Gloria Lu’s fledgling hedge fund establish itself among Asia’s biggest stars of 2017…

How One Hedge Fund Ignored the China Bears and Made a 65% Gain

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The Nashville-area facility is the company’s eighth plant worldwide. Built on 469 acres, the 1.5 million-square-foot plant in Clarksville, Tenn., is expected to bring 1,800 jobs to the state.

Hankook Tire opened its first U.S. manufacturing facility in Clarksville, Tenn. The company invested $800 million in a new 1.5-million-square-foot facility, where it will produce passenger car radial and light truck radial tires. The plant has already brought nearly 1,000 jobs to the local economy, a total that is expected to climb to 1,800 as infrastructure expands.

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Morgan Stanley sees a way to make money betting against U.S. residential mortgage-backed securities. Just don’t say it’s a “big short.” …

Morgan Stanley Has a New Top Trade: Call It the Not-So-Big Short

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As one of the strongest multifamily markets in the U.S., Orlando has a very frothy investment market. TruAmerica intends to enhance the 300-unit property located between the area’s chief financial drivers.

The Carroll Organization and Goldman Sachs Asset Management Private Real Estate sold a 300-unit multifamily community in East Orlando. TruAmerica Multifamily bought the asset for more than $47 million. Located at 102000 Falcon Pine Blvd., Arium Falcon Pines occupies a 21-acre site.

The property features 48 one-bedroom, 168 two-bedroom and 84 three-bedroom apartments. Lake Nona’s Medical City, the Central Florida Research Park and the University of Central Florida are all nearby…

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Possibilities include wi-fi ads, multi-building green planning, even drone high-rises. The bank’s latest report details what’s still to come and what the industry’s disruptors will be.

The recently released 90-page report “Real Trends: The Future of Real Estate in the United States” takes a wide-ranging look at factors that include immigration and an aging population.

Much of the report focuses on single-family housing, especially issues around affordable housing. Many of its most intriguing observations, however, are on where technology might be leading CRE. Written by Albert Saiz and Arianna Salazar of the Urban Economics Lab at the Center for Real Estate, Massachusetts Institute of Technology, the report was sponsored by Capital One Commercial Banking…

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The foreclosure auction for a penthouse at Manhattan’s ultra-luxury One57 tower is back on…

NYC Billionaires’ Row Penthouse Foreclosure Auction Is Back On

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Two Liberty Center in Arlington, Va. will house the firm’s 10th TechSpace campus, which will include 20,000 square feet of interconnected office suites.

Months after opening a location in Houston, national co-working and flexible office space provider TechSpace Holding Co. will open its 10th campus in Arlington, Va. The firm will take up the entire eighth floor, or 20,000 square feet of space, at Two Liberty Center, a premier 177,429-square-foot office asset owned by The Shooshan Co. The location will be named TechSpace Arlington and is expected to open in June 2018.

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World Oil Corp., which owns the site, chose Trammell Crow Co. to be the master-developer of the project that will feature residential, retail, industrial and office space along with a luxury theater and hotel.

Construction of a 260-acre mixed-use, master-planned community in Bakersfield, Calif., is scheduled to begin next year and will feature residential, retail, industrial and office space along with a luxury theater and hotel.

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  • Glen Point bets on emerging-market debt, currencies paid off
  • Macro fund’s gain for this year compares with a loss in 2016

Glen Point Capital, a $2.3 billion hedge fund that invests money for billionaire George Soros and other clients, surged 22.7 percent through September this year, according to a person with knowledge of the matter…

Soros-Backed Hedge Fund Beats Peers With 23% Return

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The three-story hotel is only a 20-minute drive away from Pittsburgh International Airport and offers a mix of suites and rooms.

Home2 Suites opened its newest property, Home2 Suites by Hilton Pittsburgh Area Beaver Valley, a 107-key hotel situated approximately 30 miles from downtown Pittsburgh.

Located at 1000 Wagner Road Extension South, the property is in close proximity to various retail, shopping, dining and restaurant such as Columbia Gas Training Center, Penn State Beaver, Community College of Beaver County and Beaver Valley Automall. Additionally, Pittsburgh International Airport is a 20-minute drive away…

Home2 Suites Pittsburgh Opens

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  • Vacasa raises $104 million as vacation rental market grows
  • Financing is said to nearly double company valuation

Vacasa LLC, an online vacation rental company, raised $104 million from a group of private equity firms looking to build up a challenger to Airbnb…

Private Equity Looks to Challenge Airbnb With Vacasa Deal

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  • Hedge fund offers details, but not a name for new short bet
  • Extra Space Storage has same business segments as mystery REIT

Newbrook Capital Advisors, the $1.8 billion hedge fund run by Robert Boucai, has a new short bet, and this time it’s targeting a company in the real-estate sector…

Cracking the Code of a $1.8 Billion Hedge Fund’s Mystery Short

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Charlie Farra and Matt Betterman, both of whom came from Colliers International, will focus on tenant representation in the downtown Seattle market.

Newmark Knight Frank added two new hires to its Seattle office: Charlie Farra as managing director and Matt Betterman as associate director.

Prior to joining the company, Farra served as vice president for Colliers International for five years, where he specialized in tenant representation. He completed more than 1 million square feet of office leasing and sales. His clients included Dorsey & Whitney, Sonos, Blue Bird Bio and Alliant Insurance…

NKF Announces New Hires in Seattle

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Sawyer, formerly a vice president in the development and consulting services group, rejoins the company after an absence of five years. She will be based in Boston.

Colliers International appointed Jessica Sawyer, a former employee, executive vice president of operations. Sawyer used to be a vice president in the development and consulting services group before she decided to rejoin Colliers, following an absence of five years. She will be based in Boston and will oversee the firm’s operational activities, including finance and accounting, talent management, marketing and technology. The new executive vice president will be reporting directly to the CEO.

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  • B-20 guidelines are aimed at uninsured market for home loans
  • ‘Collateral damage’ seen in markets outside Toronto, Vancouver

Canada’s banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation’s housing markets…

Canada’s Bank Regulator Toughens Mortgage Qualifying Rules

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  • Package gives access to research portal for up to 10 users
  • Includes attendance at events; speaking to analysts costs more

Goldman Sachs Group Inc. has asked some clients to pay $30,000 for up to 10 of their staff to access basic research through its analyst portal once the MiFID II rules come into force in January, according to people with knowledge of the matter…

Goldman Sachs Asks for $30,000 for Research Post-MiFID

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Nashville Yards will soon breathe life into a neglected area of the city. HKS Architects SVP of Hospitality Luis Zapiain and Senior Designer Enoch Suhm talked to CPE about the design of the hotel that is considered a gateway to Music City’s central business district.
Nashville Yards is one of the metro’s largest projects underway, a development that pays homage to the location’s history. For decades, the place has been a commercial and travel hub. Now, it is being transformed into a $1 billion mixed-use property, designed to add more than four million square feet of entertainment, retail, office, hospitality and residential space. The massive project is being built on a 15-acre former LifeWay Christian Resources campus near downtown Nashville, from Broadway to Church Street and Ninth Avenue up to the Gulch…
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The 350-acre live-work-play development known as Mosaic will break ground in 2018. Phase one will yield 44 acres of entertainment and lifestyle accommodations at a construction cost of $140 million.
Eco Group unveiled plans for Mosaic, a mixed-use project in the Raleigh-Durham area designed to serve as a vibrant urban enclave in the middle of Chatham County’s suburbia. The company, a joint venture between John Fugo of Montgomery Development and Kirk Bradley of Lee-Moore Capital Co., will build the $800 million project at the entrance of the 7,100-acre Chatham Park master planned development in Pittsboro, N.C.
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A rebound in homebuilders’ confidence to a five-month high indicates concern over fallout from major hurricanes has been alleviated, according to data Tuesday from the National Association of Home Builders/Wells Fargo…

U.S. Homebuilders Gauge at Five-Month High Shows Storm Recovery

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  • Fixed-income trading proved largest problem for U.S. banks
  • Record-high stock market boosted investment banking gains

As earnings season for the biggest banks drew to a close, Morgan Stanley and Goldman Sachs Group Inc. joined other major U.S. lenders in showing the advantages and drawbacks of calm markets…

Here Are Key Takeaways From Wall Street’s Third-Quarter Earnings

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HFF worked on behalf of the seller, Stream Realty Partners, and procured the buyer. The class A office building currently has eight vacant spaces.

Related Fund Management acquired Pacific Center, a 306,765-square-foot, class A office building in Torrance, Calif. HFF’s Senior Managing Director Ryan Gallagher and Managing Director Andrew Harper procured the buyer and represented the seller, Stream Realty Partners, who recently expanded its property management portfolio in Pasadena, Calif.

The eight-story, state-of-the art building is situated at 21250 Hawthorne Blvd., at the intersection of Hawthorne and Torrance Boulevards across from the Del Amo Fashion Center and is exposed to State Route 107. Pacific Center is close to neighborhoods such as Palos Verdes, Rancho Palos Verdes, Rolling Hills Estates, Hermosa Beach and Manhattan Beach…

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Prairie District 3 Partners developed Wintrust Arena, which will serve as the new home to DePaul University’s basketball teams. The multi-purpose venue will also host concerts and special events.

Clark Construction Group, part of the design-built joint venture team Prairie District 3 Partners, has delivered Wintrust Arena, a 300,000-square-foot facility in Chicago’s McCormick Square neighborhood.

The multi-purpose arena will open the weekend of Oct. 20-22 as part the Chicago Architecture Foundation’s Open House Chicago event. The arena will serve as home to DePaul University’s basketball teams, the WNBA’s Chicago Sky and serve as an entertainment venue for concerts and special events…

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  • Canada’s alternative lenders face bigger impact from new rules
  • OSFI’s stress tests will likely further slow housing, TD says

Borrowers who don’t meet the lending criteria of Canada’s big banks for home loans may turn to credit unions and private lenders under tougher mortgage rules released by the country’s banking regulator, according to RBC Capital Markets…

New Mortgage Rules May Push Borrowers to Alternative Banks, RBC Warns

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The newest member of the LA team brings more than 20 years of experience in real estate valuation. Miles Loo Jr. specializes in data center valuation and recognized the impact that IoT would have.

ewmark Knight Frank appointed Miles Loo Jr. as executive vice president leading the firm’s Valuation & Advisory Data Center Solutions Group. Loo will base his team’s operations in the firm’s Los Angeles office, working on projects globally. Recently, the firm also added a new Managing Director to the same branch.

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The eight-block Manchester Pacific Gateway will eventually encompass 2.8 million square feet of hotel, office and retail space. The location is reportedly the largest undeveloped urban waterfront site on California’s coast.

A joint venture led by Manchester Financial Group tapped Berkadia Hotels and Hospitality to source a $650 million construction loan for the $1.3 billion Manchester Pacific Gateway project located on San Diego’s waterfront.

The 12-acre downtown bayside site reportedly is the largest undeveloped urban waterfront site on California’s coast and will eventually encompass 2.8 million square feet of hotel, office and retail space. The location is bounded by Broadway, Harbor Drive and Pacific Highway and is adjacent to the U.S.S. Midway Museum…

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  • EventShares funds aim to track Republican, Democratic policies
  • Investments are picked using active, long-short strategies

Politics is always a gamble — and a couple of new exchange-traded funds are letting investors put real money on it…

Trump-Inspired Political Funds Bring Active Twist to ETF Market

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  • Global Sigma, BTG Pactual among firms adding volatility funds
  • Bets on higher market turbulence have backfired this year

Does the lack of worry in global financial markets worry you? A growing number of hedge fund managers are counting on it…

Hedge Funds Can’t Resist This Volatility Trade That’s Been Losing Money

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After years of dormancy in the wake of the financial crisis, office construction is finally sprouting in Fort Lauderdale, where more than 585,000 square feet of space is expected to come online by the end of the year.
After years of dormancy in the wake of the financial crisis, Fort Lauderdale’s office market is starting to come alive. Over the past four years, only one new office property—a 143,535-square-foot building in Miramar—was delivered. However, developers have recognized the market’s strengthening economic conditions, solid job growth among office-using sectors and increasing investor appetite. As a result, construction is sprouting…
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UNIZO Holdings purchased 685 Third Ave., a 31-story building in Midtown Manhattan, from a joint venture between TH Real Estate, an affiliate of Nuveen, and Future Fund of Australia.
A partnership of TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), and Future Fund, Australia’s sovereign wealth fund, has sold 685 Third Ave., a 31-story, 651,400-square-foot office building in Midtown Manhattan, to UNIZO Holdings Co. Ltd., of Tokyo, for a gross sale price of $467.5 million, TH announced…
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  • Chancellor concedes young people losing faith in free market
  • Hammond constrained by Brexit effect on economic outlook

Chancellor of the Exchequer Philip Hammond said something has gone “wrong” with the U.K. housing market as his government pledges to tackle the issue of fairness between generations…

Hammond Pledges ‘Fix’ for UK Housing Market Gone Wrong

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David Donnellan and Patricia Friend of CBRE’s South Florida Retail Investment Properties team assisted the seller in the transaction. Florida Credit Union originated the acquisition financing.

CBRE brokered the sale of Regency Lakes Village Center, a multi-tenant, Class A shopping center in Coconut Creek, Fla. According to public records, Regency Lakes Village Center Partners LLC, an entity affiliated with Colorado-based ServiceStar Capital Management, sold the asset to Pacific Equities Capital Management.

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  • September total apartment sales lowest since January
  • City’s home prices rose in 3Q for first time in four years

Singapore home sales fell in September as developers marketed fewer projects in a month considered inauspicious by Chinese homebuyers…

Singapore Home Sales Drop as ‘Hungry Ghost’ Month Spooks Buyers

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  • Values in capital likely fell 2.7% in September, Acadata says
  • Picture less downbeat outside capital and southeast England

London house prices are falling at their fastest pace since the financial crisis, confirming the British capital as the worst-performing part of a slowing market…

London House Prices Fall Most Since Financial Crisis

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CBRE represented the company in the disposition. The four buildings, located in Danbury and Berlin, are fully occupied.

The Hampshire Cos. sold a 117,992-square-foot, four-building industrial portfolio in Connecticut to a private buyer.

The portfolio comprises two buildings totaling 45,500 square feet at 55 Old Ridgebury Road in Danbury, as well as a 22,138-square-foot asset at 81 Fuller Way and a 50,354-square-foot facility at 83 White Oak Drive, both in Berlin…

Hampshire Sells 117 KSF CT Industrial Portfolio

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  • Home building shows surprising strength across the country
  • Of condos built in Toronto, 99.9% were sold at completion

For Canada’s real estate developers, 2017 is shaping up to be a comeback year…

Canadian Homebuilders Are Actually Having a Breakout Year

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  • Locks in export price of $46 per barrel for 2018: Rubio
  • Larger stabilization fund will help secure price for 2018

Mexico has completed its annual oil hedge for 2018, which will lock in an average export price of $46 per barrel of crude, Deputy Finance Minister Vanessa Rubio said in an interview…

The World’s Largest Oil Hedge Is Complete

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The company secured the American Society of Composers, Authors and Publishers with a long-term lease to occupy four floors at 250 West 57th St. in Manhattan. CBRE represented ASCAP in the negotiations.

The American Society of Composers, Authors and Publishers (ASCAP) signed an 85,400-square-foot lease with Empire State Realty Trust for four floors at 250 West 57th St. in Manhattan.

The Class A office building features a total of 530,716 square feet and has an 18.2 percent vacancy rate, according to Yardi Matrix. Built in 1921, the property also includes 17,387 square feet of ground floor retail space. Empire State Realty Trust purchased the asset in 2013 from Helmsley Enterprises for nearly $170 million…

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  • t will take 1.3 years to clear unsold units: Molior report
  • Excess supply is worst for capital’s more expensive new homes

Follow @Brexit for all the latest news, and sign up to our daily Brexit Bulletin newsletter…

London’s Stock of Unsold Homes Under Construction at Record High

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  • Announcement sends shares of department-store chain tumbling
  • A review of options will continue after the holiday period

Nordstrom Inc. is suspending efforts to take the company private after struggling to get financing with favorable terms, another sign that the department-store industry has lost favor with both customers and investors…

Nordstrom Suspends Buyout After Struggling to Get Financing

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