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The company will continue to occupy 44,000 square feet at Kilroy Realty’s 360 Third St. property, located in the city’s South of Market district.

Kilroy Realty Corp. has signed a five-year lease renewal with NBC Sports Bay Area. The lease encompasses 44,000 square feet of office space at Kilroy’s 360 Third St. in San Francisco. NBC Sports first moved its office to the address almost 10 years ago.

Located in San Francisco’s South of Market district, the seven-story building is located within one block of Interstate 80 and is accessible via approximately 20 different bus links. Current tenants include TripAdvisor, Wikia, Adobe Systems and Comcast SportsNet, according to Yardi Matrix…

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Euro-subsidiary completes refinances of seven assets, including office, retail and multifamily properties in the capital city of Dublin. The deal follows this fall’s merger between Kennedy Wilson Holdings and Kennedy Wilson Europe Real Estate.

The wholly owned European subsidiary of Kennedy Wilson has completed two refinancing deals totaling €284 million—$334 million—with the Bank of Ireland. The transactions cover seven assets in Ireland, primarily in the capital city of Dublin.

The refinancing operations extend the weighted average term to maturity to 5.1 years and lower the weighted average cost of the floating rate debt, while releasing €54 million, or roughly $63.6 million, of equity…

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Upon closing, 13,640 square feet were vacant, but have since been leased. BGP Designs occupies more than half of the 35,500-square-foot building, which changed hands for $3.5 million.

Parkland Center II, a 35,542-square-foot industrial warehouse, changed hands in Tempe, Ariz. Principal Matt Hobaica of Lee & Associates Arizona represented the buyer, BPG Designs. DCT Industrial, the seller, was represented by JLL. BPG acquired the asset for $3.5 million.

The property is located at 7307 S. Harl Ave., in West Tempe. Built in 1982, the warehouse sits on a 2.3-acre site. It features 103 parking spaces, grade-level loading docks and air conditioning. The building also comprises retail space facing Harl Avenue.

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Dec
12

Friedman Arranges MI Office Lease

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The company represented the tenant, Somerset Pain Clinic, in closing a leasing agreement for 8,230 square feet at City Center in Troy, Mich.

Friedman Integrated Real Estate Solutions has facilitated an 8,230-square-foot office lease at City Center, a central location in Troy, Mich. The company, which has been recently appointed manager of the historic Ford Building in downtown Detroit, worked on behalf of the tenant, Somerset Pain Clinic.

The Class A office building is located at 888 W. Big Beaver Road along the Big Beaver Corridor and is owned by Unicorp National Developments, according to Yardi Matrix. Completed in 1979, the 13-story property encompasses approximately 330,000 square feet of office and retail space, as well as a parking lot accommodating up to 1,300 vehicles…

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Sweden’s finance minister says the biggest Nordic economy is strong enough to avoid an all-out rout in the nation’s housing market.

The recent decline in prices is “sensible” after years of a housing boom, Magdalena Andersson said in an interview after a press conference in Stockholm.

“Much points to a soft landing,” she said. The economy is “doing well,” there’s real income growth, low rates and “large demand” for housing in Sweden, she said…

Sweden’s Housing Market Headed for ‘Soft Landing,’ Minister Says

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Dec
12

Santa Clarita Mixed-Use Lands $21M

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Buchanan Street Partners provided the construction loan for Newhall Crossings, a mixed-use project featuring 47 apartment units and 20,167 square feet of retail space.

Buchanan Street Partners has closed on a $20.8 million construction loan for Newhall Crossings, a mixed-use project including 47 units and 20,167 square feet of retail space in Santa Clarita, Calif. Buchanan Street provided a 77 percent loan-to-cost, non-recourse construction loan for the project. Developed by Serrano Development Group, Newhall Crossings is slated for completion by 2019.

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The company purchased a 19-acre parcel near the Indianapolis International Airport, where it plans to develop a new 262,758-square-foot warehouse.

HSA Commercial plans to expand its footprint in suburban Indianapolis by adding a new warehouse to its existing industrial portfolio. For this, the company has acquired a 19-acre parcel at the corner of Stafford Road and Airtech Parkway, near the Indianapolis International Airport in Plainfield, Ind.

Construction is slated to start early next year, with the first tenants scheduled to arrive in fall 2018. Upon completion, the 262,758-square-foot building is expected to feature 32-foot clear heights, 30 expandable truck doors and four drive-in doors…

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London’s housing market has had a glorious run. That’s been unwinding since the Brexit vote — you can blame unaffordable prices mixed with political uncertainty.

Hard Hit
Since the Brexit vote, house prices in London has been underperforming the nation overall…
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Dec
12

Tru by Hilton Opens in Vegas

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The property is currently the largest hotel under the Tru brand. It is owned by the United Brotherhood of Carpenters and managed by Prism Hotels & Resorts.

Tru by Hilton has opened a new location in Las Vegas, near McCarran International Airport. The 166-key hotel is currently the largest to operate under Hilton’s Tru brand and is the eighth one to open in the U.S.

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While the separate versions of tax reform put forth by the U.S. House of Representatives and the U.S. Senate have not yet been reconciled, the report concludes that neither proposal, or any combination of the two, would cause anything close to shockwaves in the commercial real estate industry.
Tax reform legislation that is currently in the hands of the U.S. Congress is not quite in its final form yet; however, as is, the proposed changes are not expected to have any notable negative impact on investment in the commercial real estate industry, according to a new tax plan report by real estate investment services firm Marcus & Millichap. On the other hand, there is likely to be some upside…
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As long-short strategies take a beating, managers see niches like private debt as fuel for future returns.

  • As long-short withers, firms turn to niches like private debt
  • This story is part of a series on the future of investing

The long and short on hedge funds is that long and short isn’t working so well anymore.

That’s the rather simple strategy that built the $3.2 trillion industry — the once-durable buying long when you figure an equity will go up and selling short when you reckon the opposite — and that basically put the “hedge” in hedge fund. These days it’s unreliable, at best.

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Hines, along with Bear Properties, were tapped to redevelop part of Canagra’s Nebraska campus. Four buildings and the corresponding parking lots are not included in the project.

Conagra Brands has selected Hines to redevelop part of its Omaha, Neb. campus. The redevelopment, expected to occur over the next decade, will include residential units, a hotel, restaurants, office and green spaces. Hines expects to break ground around early summer 2019 and selected Bear Properties to assist with the project.

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Dec
12

ShopOne Enters NYC MSA

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The company acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., continuing its plan to diversify the geographic makeup of its portfolio.

ShopOne Centers REIT Inc. has acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., marking its initial entry in the New York City MSA. The price was not disclosed.

“For us, we were looking to find something in a really strong demographic market, finding our first deal in the New York metro area and then honing in on that exact trade area,” Michael Carroll, ShopOne Centers REIT’s CEO, told Commercial Property Executive.“It’s really strong, with over 100,000 people within a three-mile radius of the site, and a preeminent location.”…

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Efforts to diversify Calgary’s economy beyond hydrocarbons are starting to work.

Mark Craig didn’t worry much when oil plunged from $100 a barrel to less than $50 in late 2014. Having worked in the Canadian oil industry since high school, the Calgary resident had seen booms and busts before. His confidence seemed justified when, just months after taking a buyout at British oil giant BP Plc, he was hired to manage the IT department at Calgary-based Penn West Petroleum in April 2015. Then, four months later, Penn West cut half its staff, including Craig, in the midst of an accounting scandal. Oil had just begun to take another leg down, ultimately bottoming below $30 a barrel, and no one in the city that’s the epicenter of Canada’s oil and gas industry was hiring. Two years later, no one is hiring still. “After Penn West, I realized there were basically no jobs out there,” says Craig, 56. “It was a very harsh reality that slapped me in the face.”…

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The company will take over 140,000 square feet of office space within a converted warehouse building located in Boston’s busy Seaport District.

JPMorgan Chase has signed an office lease renewal and expansion with a joint venture involving Meritage Properties and CV Properties. The tenant will expand onto three separate floors, taking more than 140,000 square feet in the Boston Seaport District.

With a total of 477,000 square feet of creative space, the asset was originally constructed in 1909 and previously served as a warehouse, until its conversion to offices in 1980. Despite the transformation, the building features high ceilings and traditional brick-and-beam architecture…

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The partnership acquired the five-building Marina Heights campus from State Farm Automobile Insurance Co. in a sale-leaseback deal valued at $928 million, which could mark the largest-ever CRE sale in metro Phoenix.

A partnership between Transwestern Investment Group and JDM Partners LLC, called Corporate Properties Trust III LP, has completed its acquisition of a five-building, 2-million-square-foot Class A office campus in Tempe, Ariz., in a sale-leaseback with State Farm Automobile Insurance Co.

Financials on the deal were not disclosed, but a Phoenix-area outlet reported the deal as valued at $928 million, a big enough sum to make it the largest-ever CRE sale in metro Phoenix…

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HFF represented Stockbridge Capital Group in the sale of the properties, while also arranging acquisition financing for the buyer, through a fixed-rate loan with Global Atlantic Financial Group.

ATCAP Fund I LP acquired a four-property light industrial portfolio in Houston, Texas, from Stockbridge Capital Group.

HFF represented the seller in the deal, and also arranged acquisition financing for the buyer, securing a five-year, fixed-rate loan with Global Atlantic Financial Group. The transaction price was not disclosed…

ATCAP Snaps Up 16-Building Industrial Portfolio in Houston

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  • Robust growth offers window for official rates to be raised
  • But tightening cycle is complicated by years of loose policy

Years of cheap money across Asia have left a legacy of surging debt that will force the region’s central bankers to be cautious when they eventually follow in the footsteps of South Korea by raising interest rates.

In South Korea, whose borrowing costs were boosted on Nov. 30, household debt has ballooned to about 150 percent of disposable income. It’s an even larger 194 percent in Australia. In China, it’s companies feeling the strain with corporate debt equating to about 160 percent of gross domestic product…

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Colliers secured financing for a 235-key dual-brand Hilton Hotel in Woburn, Mass. The project will be located in a well-exposed site in the northern suburbs of Boston.

Colliers International’s Boston-based Capital Markets group has arranged the joint venture equity financing for the construction of a 235-key, dual-branded Hilton Hotel. The property is situated at the busy intersection of I-95 and I-93, providing easy access and assuring high visibility.

The building will be located at 369 Washington St., in Woburn, Mass., amid a retail- and entertainment-dominated area. Madison Properties is the owner of the site and has received entitlements for the hotel and three retail pad sites since the initial acquisition. The company has leased one pad site to the now open gourmet burger chain, Red Robin, and another pad site to Chick-fil-A, scheduled for opening in 2018…

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This year proved to be a challenging one for hospitality owners and developers seeking conventional financing. Rodrigo Azpurua, founder & CEO of Riviera Point Development Group, shares the alternative lending sources he has successfully used to secure capital for projects and what he expects in 2018.

This year offered a challenging lending climate for the hotel industry, prompting developers such as Rodrigo Azpurua, the founder & CEO of Riviera Point Development Group, to search more proactively for alternative financing options. The EB-5 investor program, private equity and crowdsourcing have proved to be some of the most successful alternative lending sources.

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  • Rightmove says prices in the capital will fall another 2%
  • Nationally, values will likely rise 1% as shortage continues

London’s property market is in for another rough ride next year, according to Rightmove Plc.

Home values in the capital are likely to fall another 2 percent in 2018 after a 1.8 percent decline this year, the real estate website operator said Monday. In December alone, prices dropped 3.7 percent in London and by 2.6 percent nationally. The month usually sees a big seasonal slump…

London Property Market Likely to Continue Price Drop in 2018

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Expected to open in August 2018, I-595 Business Center will feature approximately four high-dock doors per bay, built-to-suit offices and ample parking.

Cushman & Wakefield has negotiated a long-term lease with Johnstone Supply at I-595 Business Center, a 150,000-square-foot industrial facility currently under construction in Dania Beach, Fla. The tenant will occupy 32,400 square feet at the property scheduled for delivery in August 2018.

Located at 3200 SW 30th Ave., the Class A building will feature 32-foot clear heights, T-5 lighting, built-to-suit offices, four dock-high doors per bay, ESRF fire safety system and 183 parking spaces. Johnstone Supply, a subsidiary of The Ware Group, is a wholesaler, distributor, contractor and supplier of HVAC/R equipment. The company is relocating its Dania Beach operations from Broward International Commerce Center at 329 N. Bryan Road…

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The 67,000-square-foot historic building was built in 1901 as an historic landmark. The property is currently 100 percent leased to WeWork.

Vista Investment Group has purchased the U.S. Customs House, a 67,000-square-foot building located in Portland, Ore. Eastern Real Estate sold the asset for $30 million. This transaction marks Vista’s latest acquisition of historic buildings located in urban neighborhoods. JLL’s Executive Vice President Paige Morgan, along with Managing Director Buzz Ellis and Senior Vice President Peter Furest, led the JLL team on the sale.

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  • Data due on Thursday is expected to confirm another price drop
  • Market reversal spooks home owners but Riksbank less concerned

Anyone with a stake in Sweden’s property market should make space for Thursday in their calendar. That’s when they’ll get fresh clues as to whether they are facing a temporary blip or the start of a full-blown crash.

Svensk Maklarstatistik AB and Valueguard will both publish housing price data for November on December 14. There are indications that the monthly drop will be as big — if not bigger — than October’s, when prices fell 3 percent, the steepest decline since the global financial crisis of 2008…

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  • Cheap leverage is available to enhance returns, Pil says
  • Central bank policies are diverging as Fed, ECB tighten

JPMorgan Chase & Co.’s alternative asset management unit is eyeing Japanese real estate and infrastructure, betting betting such investments will benefit from the nation’s lingering monetary stimulus even as central banks elsewhere start to tighten…

JPMorgan Eyes Japan Real Estate on Bet BOJ Persists With Easing

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Governors Park Lofts LLC has acquired the freestanding retail property for $6.1 million. The transaction closed at a 6.5 percent cap rate.

Faris Lee Investments has arranged the sale of a 14,990-square-foot, freestanding retail property in Northglenn, Colo. for $6.1 million. The retail space is triple-net leased to Walgreens. Faris Lee Investments worked on behalf of the seller, Northglenn LLC. and Pinnacle Real Estate Advisors represented the buyer Governors Park Lofts LLC. The transaction closed at a 6.5 percent cap rate.

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Dec
11

AJ Capital Partners Opens MN Hotel

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The Graduate Minnesota was formerly known as The Commons Hotel and marks the only lodging in the Minnesota-area. The property is close to the Minneapolis-Saint Paul International Airport.

AJ Capital Partners has opened the Graduate Minnesota, a 304-key hotel—formerly known as The Commons Hotel—located on the East Bank campus of the University of Minnesota. This hotel marks the only on-campus lodging in the area.

Located at 615 Southwest Washington Ave., between Coffman Memorial Union and Gopher’s stadium, the boutique hotel offers convenient access to various shopping, dining and entertainment venues such as TCF Bank Stadium, Mill City Museum, Walgreens and Minneapolis Institute of Art. Additionally, the Minneapolis-Saint Paul International Airport is six miles away. Graduate Minnesota features common area amenities such as:

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When you have one of the most contentious projections on Wall Street for the U.S. Treasury market, it’s hard to avoid the limelight.

Morgan Stanley’s forecast that the difference between yields on short- and long-dated U.S. government bonds will narrow to zero late next year is spurring strong push back even as the gap tumbles to decade lows, the bank notes.

The forecasts — on both the shape and level of the curve — have the potential to roil bond trades and the Federal Reserve’s tightening path, while raising concern for a downturn in the business cycle…

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  • New futures fly higher than bitcoin, prompting mixed reaction
  • The ‘market opening was a mild disaster in many respects’

Bitcoin’s triumphant debut on Wall Street hasn’t ended the financial industry’s skepticism.

The new breed of futures contracts that launched on Cboe Global Markets Inc.’s exchange late Sunday quickly became a 24-hour microcosm of bitcoin’s own wild ride this year, marked by technical glitches and surging valuations. The first day left true believers cheering, yet kept many mainstream financial professionals peering uneasily from the sidelines…

Bitcoin’s First 24 Hours on Wall Street Feed Euphoria and Doubts

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The seller, Republic West Remodeling, will continue to occupy part of the building, while the remaining space will be leased out to a new tenant.
ORION Investment Real Estate facilitated the sale of an office property at 8101 E. McDowell Road in Scottsdale, Ariz. The building, containing 18,000 square feet of office and industrial space, sold for $2.2 million to local real estate investors and restaurant franchise owners Chad Burge and Tiffany Oder. The new owners plan for a new tenant to initially move into a small part of the property. The building is currently occupied by previous owner Republic West Remodeling, who has inked a leaseback deal to remain at the property…
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An expanding pipeline and affordability issues are putting pressure on rent growth, but the borough’s multifamily market continues to show signs of long-term stability, due to New York’s overall strong fundamentals.
An expanding pipeline and affordability issues are putting pressure on rent growth in Queens, but the borough’s multifamily market continues to show signs of long-term stability, due to New York’s overall strong fundamentals. Bucking nationwide trends, Queens rents dropped 1.0 percent in the 12 months ending in September, while upcoming decisions on rent stabilization may soon reshape the borough’s market…
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  • Rightmove says prices in the capital will fall another 2%
  • Nationally, values will likely rise 1% as shortage continues

London’s property market is in for another rough ride next year, according toRightmove Plc.

Home values in the capital are likely to fall another 2 percent in 2018 after a 1.8 percent decline this year, the real estate website operator said Monday. In December alone, prices dropped 3.7 percent in London and by 2.6 percent nationally. The month usually sees a big seasonal slump…

London Property Market Likely to Continue Price Drop in 2018

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The nearly 92,000-square-foot facility is leased entirely by a single tenant, FedEx Group. Marcus & Millichap represented the seller in the transaction.

BLT Enterprises has sold a 91,711-square-foot distribution facility located in Central Point, Ore. for $15.9 million. Marcus & Millichap’s David Weinberg, Paul Kerber and Adam Lewis represented BLT Enterprises, while the buyer Tomchi Oregon LLC was represented by Barbara Kreis of Sperry Van Ness.

The property’s single tenant is FedEx Ground, which has been leasing the property for eight years. The warehouse is located in the Medford submarket, a region that has encountered a strong population growth in the past several years…

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  • Trade Secretary Liam Fox to anounce funding at WTO conference
  • Aid will support developing economies by expanding exports

The U.K. government will donate 18 million pounds ($24 million) in trade development aid to 51 of the world’s poorest countries, the Department of International Trade said.

International Trade Secretary Liam Fox will announce the funding at the World Trade Organization’s ministerial conference in Argentina on Monday, the department said…

U.K. to Pledge $24 Million for Trade Development in 51 Countries

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Dec
10

PAC Snags $19M FL Shopping Center

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New Market Properties LLC, the company’s wholly-owned subsidiary, purchased Crossroads Market in Naples, Fla. The shopping center is anchored by a Publix grocery store.

Preferred Apartment Communities Inc. (PAC) has expanded its Florida portfolio with the acquisition of Crossroads Market, a 126,895-square-foot shopping center in Naples, Fla. The $19 million deal was carried out through PAC’s wholly-owned subsidiary New Market Properties LLC., while HFF marketed the property on behalf of the seller, a private real estate fund advised by Crow Holdings Capital – Real Estate.

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Dec
10

Hedge Funds Love Tech Again

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Well that didn’t last long.

Just a few short days after market observers declared the end of momentum and technology stocks’ reign atop the best performers, hedge funds’ appetite for the shares is picking up again. After cutting their exposure by 7 percent in November, leveraged buyers have already added back on a quarter of that reduction, according to data from Credit Suisse Group AG…

Hedge Funds Love Tech Again

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Stanford Children’s Health’s pediatric hospital campus will more than double its size by adding nearly 150 beds in its latest sustainably designed building.

Stanford Children’s Health has opened the new main building of the Lucile Packard Children’s Hospital Stanford in Palo Alto, Calif., more than doubling the hospital in size. The 521,000-square-foot structure will add 149 beds to the hospital’s campus, greatly expanding the capacity of the facility.

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  • By the second half of 2018, Fed may have more of an effect
  • Real cash rate seen having more influence than yield curve

This year’s boom in financial markets has taken things to “late cycle,” but the cycle has a little ways to go yet, according to JPMorgan Chase & Co.

The key trigger for an “inflection point in risky markets and volatility” will be when cash rates adjusted for inflation are at 1 percent, JPMorgan strategists led by John Normand and Dubravko Lakos-Bujas wrote in a Dec. 8 note. Currently, the rate is about negative 0.5 percent, measuring the upper band of the Federal Reserve’s policy target minus the consumer-price index excluding food and energy…

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Dec
10

Raleigh Hotel Market: On the Rise

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The City of Oaks’ economy and lodging industry continues to see strong growth, as the area remains a premier destination for business and tourism. Consulting firm HVS’ research pointed out that Raleigh’s hotel industry is performing well, making Raleigh one of the top hospitality markets in the country.
Population gains and steady rent growth are luring investors and developers to the Research Triangle and the hospitality industry is one of the largest beneficiaries. HVS Senior Vice President Janet Snyder and Project Manager with the firm’s Detroit office Michael Bendert have carried out a report regarding Raleigh’s hotel landscape. The city was named among the top 12 destinations in the world to visit in 2017 by Forbes Travel Guide, a designation that helped boost an already strong hotel and tourism industry…
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  • Careem gets backing from Rakuten, Didi, Daimler and others
  • Mideast tech companies increasingly on investors’ radars

Once upon a time, building new roads was the most logical way to improve transportation. Now, making the most efficient use of roads is even more important, according to the chief executive officer of ride-hailing company Careem Inc.

“We believe ride hailing, or a version of it, is the best way to build public transport today,” Mudassir Sheikha said in an interview in Dubai, where Careem is based. There’s a Middle Eastern city “that’s building a metro bus system for $700 million dollars that will transport 200,000 people. If they invested the same amount in ride-hailing, it would have capacity for 1.5 million people and create 100,000 jobs.”…

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And that’s before potential $900,000 annual maintanence fees.
  • Private condos aboard The World top rates in London, New York
  • Vessel tours North America this year marketing units for sale

It’s among the world’s most-expensive real estate per square foot, where the oceanfront views never tire, and where the price of entry buys access to the otherwise inaccessible—165 apartments aboard The World, a condo cruise ship. Its intensely private residents spend a third of the year, on average, gliding to the planet’s farthest reaches: Antarctica, Pacific atolls that haven’t seen a ship in two decades, and Ascension, a volcanic outcropping halfway between Africa and Brazil…

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The assets total 92,000 square feet and previously changed hands when M&T Bank purchased them through the acquisition of Hudson City Savings Bank in 2015.

M&T Bank has disposed of two office buildings in Paramus, N.J. Two different entities purchased the 92,000-square-foot assets, which are strategically located immediately off of routes 17 and 80.

The first building is located at 80 W. Century Road and comprises 70,000 square feet on 3.5 acres. Amenities include 15,000-square-foot flexible floor plates and an on-site M&T bank branch, which will continue to operate despite the change in ownership. The new owner plans to occupy part of the building, while the remaining portion will be marketed for lease.

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Meritex has begun development of an 80,000-square-foot warehouse next to its 11-building CLT Logistics Center. Construction is anticipated to wrap up early next year.

The Meritex Co. has begun construction work on its latest development near Charlotte Douglas International Airport in Charlotte, N.C. The building, expected to deliver in the first quarter of 2018, is the first of three to be built next to the company’s 11-building CLT Logistics Center, which it acquired last year.

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  • Economists say interest deduction doesn’t boost homeownership
  • Republican tax bill would diminish the housing perk’s use

One of America’s most popular tax breaks is about to be rendered nearly useless. And there are few economists rushing to defend it…

Homebuying Doesn’t Hinge on the Mortgage Tax Break

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The West Hotel Curio Collection by Hilton comprises 182 guestrooms and was designed by Fitzpatrick + Partners, with interiors by Wood Bagot.

Multiplex has completed construction of West Hotel, Curio Collection by Hilton, which marks Australia’s first Curio hotel.

Located at 65 Sussex St. in Sydney, the 182-key hotel was designed by Fitzpatrick + Partners, with interiors by Wood Bagot. The property features spacious suites, a restaurant, open air garden atrium, private meeting and dining room, bar and fully-equipped fitness center. West Hotel features a botanical theme throughout with a three-story internal garden atrium courtyard, white flower motif in the lobby and floral-inspired carpet design in the guest rooms. A signature feature of the hotel is its geometric façade with 333 individual panels of glass used for its construction, the first of its kind in Australia. Construction began in October of 2016 and was completed in less than 13 months…

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Miramar Capital purchased a 124,000-square-foot office building in Redondo Beach, Calif., from Gramercy Property Trust. At the time of sale, the asset was 58 percent occupied.

Gramercy Property Trust sold Redondo Beach Business Court to Miramar Capital. The 124,400-square-foot office building in Redondo Beach, Calif., changed hands for $36.7 million.

The two-building asset, located at 3701 Doolittle Drive, was completed in 1985 and underwent cosmetic renovation in 1989. The building offers more than 200 parking spaces and convenient access to interstates 105 and 405. Redondo Beach Business Court was 58 percent occupied at the time of sale, with less than two years remaining on the lease term for its tenant Northrop Grumman. The property is situated near multiple restaurants and hotels, including Annapurna Indian Restaurant, Spires Restaurant and SpringHill Suites by Marriott…

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NIMBYs may not like the answer, but it’s the law of supply and demand.
Living in San Francisco, it’s hard not to notice the city’s changing demographics:
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Dec
07

NKF Arranges $27M Retail Sale in NH

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The Davis Cos. acquired The Windalier Portfolio in West Lebanon, N.H., comprising three shopping centers totaling more than 230,000 square feet.

NKF Capital Markets has completed the sale of The Windalier Portfolio in West Lebanon, N.H. The Davis Cos. acquired the 230,035-square-foot asset for $27.2 million. NKF Managing Director Justin Smith, U.S. Head of Capital Markets Robert Griffin and Executive Managing Director Geoffrey Millerd represented the seller, Dead River Properties.

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The major facility now under construction could be the first tech campus to achieve net zero, non-potable water use. Moreover, the buildings will be designed to meet LEED Platinum certification and will feature solar panels, a “living” roof and more.

Microsoft’s new Silicon Valley Campus, a 643,000-square-foot “modernization” of the tech giant’s 32-acre location in Mountain View, Calif., will be the company’s “smartest, greenest office yet,” according to a blog post earlier this week by Microsoft Chief Technology Officer Kevin Scott.

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  • Upward revision to business investment exceeds expectations
  • Drop in private consumption underscores soft consumer demand

Japan’s economy expanded in the third quarter more than initially reported, as the export recovery drove stronger business investment and rising inventories. Private consumption fell, underscoring the divide between external demand and consumer spending…

Japan’s 3Q GDP Growth Revised Up to 2.5% on Capital Spending

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Dec
07

San Jose Office Tower Lands $200M

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NKF Capital Markets arranged the acquisition financing on behalf of Lane Partners for HQ@first, a 603,666-square-foot, three-property creative office tower.

Lane Partners has secured $200 million for the acquisition of HQ@first, a three-property creative office tower in San Jose. NKF Capital Markets arranged the financing placed with Blackstone Mortgage Trust.

Located at 110, 120 and 130 Holger Way, the 603,666-square-foot, Class A asset was constructed in 2010 and is situated on just under 10 acres. The LEED Gold certified property features landscaped paths, views of the bay and hills, patio areas, a fitness center with locker rooms, executive business center, natural light, outdoor barbecue, basketball court, game room and 300-plus seat cafeteria…

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No major office project has come online since 2008, but market dynamics are poised to shift, with substantial new commercial developments planned for the coming years.
West Palm Beach is currently in the middle of an economic surge. Area employment grew at a swift pace and roughly 18,200 jobs were added in the 12 months ending in July. Companies willing to relocate into the metro are lured by the strong local economy and the lack of a state income tax. Moreover, the city of West Palm Beach has been attracting employers through incentive packages offering firms more than 10-year tax breaks for creating new, high-paying jobs.
The market’s total office inventory encompasses more than 25 million square feet, and roughly 6 million square feet is under various phases of development. No major office project has come online since 2008, but market dynamics are poised to shift, with substantial new commercial developments planned for the coming years. In the aftermath of Hurricane Irma, Florida’s prime office markets reported minimal impact…
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  • Firm is said to have $200 million position in Hovnanian battle
  • Bank said to have sold CDS on builder that GSO wants triggered

In a year of missteps across its trading business, Goldman Sachs finds itself in a dicey situation again…

Goldman Traders Are Caught Up in a Bizarre, Tense Hedge Fund Battle

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Categories : Hedge Funds
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With a 98 percent occupancy rate, Laguna Village Investors LLC bought the 15-acre asset anchored by Regal Cinemas and 24 Hour Fitness.

Hall Equities Group has sold Laguna Village, a 120,893-square-foot community retail center in the North Laguna area of Sacramento, Calif. for $32.5 million.

Newmark Cornish & Carey (NCC) Senior Managing Directors Mike Zylstra and Forrest Gherlone represented the seller, while NCC Executive Vice President Tom Fehr, Senior Managing Director Anthony Pappageorge and Director Zachary LeBeouf represented the buyer, Laguna Village Investors LLC, a private investor from the Sacramento area

NCC Closes $33M Sale of Sacramento Retail Center

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Categories : Real Estate
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U.K. house prices rose for a fifth month in November as a lack of homes for sale kept the market tight…

U.K. House Prices Rise for a Fifth Month on Dearth of Supply

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Categories : Real Estate
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  • Firms lost about 0.1% last month in biggest drop since June
  • S&P 500 rallied more than 20% for the year through November

Hedge funds slipped in November, losing about 0.1 percent on average, even as the broader stock market rose, according to a report Thursday by Hedge Fund Research...

Hedge Fund Performance Slipped in November

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Categories : Hedge Funds
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When Steve Case, the billionaire co-founder of AOL, first met J. D. Vance, author of “Hillbilly Elegy,” the best-selling book about the industrial decline of the Midwest, Mr. Case told him, “I really love the book but there is a part of it I don’t love.”

Mr. Vance listened patiently.

“It helped frame the problem but it didn’t really offer up a solution,” Mr. Case told him…

From Bezos to Walton, Big Investors Back Fund for ‘Flyover’ Start-Ups

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Categories : Finance
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The M1 portfolio encompasses 12 retail assets totaling 4.8 million square feet across 620 stores. The properties are all single level, fully-leased and grocery-anchored.

Echo Polska Properties has acquired 12 major shopping centers and retail parks in Poland, in three tranches, in the course of three years. The purchase, from a consortium with 25 percent owned by Redefine Properties, totals €692 million or around $818 million. This acquisition is part of a larger 28-property portfolio that was taken over by the consortium.

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North American Properties plans to transform a 418-acre brownfield site on the Raritan River in Sayreville, N.J., into the state’s “next great hometown.” The firm’s Managing Partner Mark Toro discusses what to expect from the project and how it will impact the community.

The brownfield redevelopment trend continues to emerge throughout the northeastern U.S. as a profitable strategy for developers. North American Properties (NAP) has revealed its plans for Riverton, a $2.5 billion riverfront project in Sayreville, N.J., which will offer a mix of retail, restaurants, office space, hotels with resort-inspired services, parks and a marina, complemented by open gathering spaces, all on a 418-acre site.

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SAN FRANCISCO — Shervin Pishevar, a Silicon Valley investor, is taking a leave of absence from his venture capital firm and the boards of several companies he sits on amid reports that he sexually harassed or assaulted five women.

In a statement on Tuesday, Mr. Pishevar said he was taking a leave from Sherpa Capital, the venture firm he co-founded; the transportation company Virgin Hyperloop One, which he also helped found; as well as other company boards…

Silicon Valley Investor Takes Leave of Absence After Harassment Reports

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