Headlines
Officials Green Light $1.8B for LA Airport Projects
July 08, 2008
Los Angeles International Airport is undergoing a massive multi-phase makeover and the city's Board of Airport Commissioners has just authorized approximately $1.8 billion to cover projects encompassed in the initial stage of the airport's capital improvement program, which is being conducted under Los Angeles World Airports' Project Labor Agreement. .
Hill Wins Contract for $1.6B Abu Dhabi Project
July 08, 2008
New Jersey-based Hill International has been awarded a contract by Sorouh Real Estate PJSC of Abu Dhabi, United Arab Emirates, to handle project management for Gateway Towers 3 through 8 at the firm's Shams Abu Dhabi development.
Laramar Group Opens California Office, Taps Campbell as VP, Acquisitions
July 08, 2008
Laramar Group has opened a California office, based in Irvine, and hired Greg Campbell as vice president of acquisitions, the company said today.
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Landmark Boston, NYC Properties Acquire Financing
July 08, 2008
While deals may be slowing down, Holliday Fenoglio Fowler L.P has arranged two deals--one for $85 million for the Boston Harbor Garage in Boston and one for $90 million refinancing for 401 West 14th St., a 62,000-square-foot retail and office building in Manhattan’s Meatpacking District.
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July 08, 2008
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Maguire to Sell Orange Country Property for $211M
July 08, 2008
Maguire Properties, under new management in recent months and pursuing a plan to reduce the debt it incurred by bulking up on SoCal office space in recent years, is selling off Main Plaza Towers in Irvine, Calif.
$400M Army Hotel Program Takes Next Step
July 08, 2008
The U.S. Army's plan for developing and renovating hotels at 12 installations as part of its Privatization of Army Lodging program has just advanced to the next stage now that it has entered into a transition agreement with Actus Lend Lease.
Penn National Gets Option on MD Parcel for Possible Casino
July 08, 2008
Penn National Gaming Inc. has secured an 18-month option on 36 acres in Perryville, Md., where it hopes to set up a slots casino and entertainment center.
Brugger_Mark
DiamondRock Taps Brugger as CEO
July 08, 2008
DiamondRock Hospitality Co. has tapped Mark Brugger to become CEO, effective September 1, 2008, it has reported. Bill McCarten, DiamondRock's current chairman & CEO, will continue in his role as chairman.
Q2 Office Demand a Mixed Bag for D.C. Area
July 07, 2008
One of the strongest office markets in the country for the last few years, Metropolitan Washington, D.C., is holding its own, but there are some signs of trouble, according to a second quarter report by real estate services firm CB Richard Ellis Inc.
Suburban Hartford M-F Trades for $43M
July 07, 2008
Waterford Commons, a 303-unit multi-family community in Manchester, Conn., has sold in a transaction valued at nearly $42.8 million.
D.C. Condo Project Wins $60M Construction Loan
July 07, 2008
A 200-unit condo project in Washington, D.C., has landed a $60 million construction loan.
Roth_Howard
Roth to Head Real Estate for Ernst & Young
July 07, 2008
Howard Roth will take over as global and Americas director of real estate at Ernst & Young US, replacing the retiring Dale Anne Reiss.
Pair of Canadian REITs Ink $80M Deal
July 07, 2008
Toronto-based Whiterock REIT and Leben REIT of Calgary have agreed that Leben will sell to Whiterock a portfolio consisting of eight of Leben’s nine properties for approximately $80 million.
Apollo Closes $758M Fund
July 07, 2008
Apollo Real Estate Advisors, an international real estate investor and fund manager, has closed a $758 million value-added fund, Apollo Value Enhancement Fund VII L.P.
interport
First Industrial Inks Tenant to 500,000 SF Near Houston Ports
July 07, 2008
Houston-based third-party logistics firm Palmer Logistics has leased almost 500,000 square feet of warehouse space from First Industrial Realty Trust at InterPort Distribution Center in the Houston suburb of Pasadena.
Grubb & Ellis Healthcare REIT Takes 8 Properties
July 07, 2008
Grubb & Ellis Healthcare REIT Inc. has acquired eight properties in three separate deals.
Grubb & Ellis Buys Two Apartment Complexes in Metro Atlanta
July 03, 2008
Grubb & Ellis Apartment REIT Inc. has acquired two Class A apartment communities totaling nearly 500 units in the metro Atlanta area. Grubb purchased the 216-unit AMLI at Kedron Village multi-family community in Peachtree City from AMLI Residential and Prudential Real Estate Investors, and the 280-unit Creekside Crossing in Lithonia from Harbor Group International, Norfolk, Va.
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LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent to the planned Mob Museum in the city’s historic Post Office Block.
Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not identified.
H&R Sells 11 in Canada
July 03, 2008
H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on sale.
vegas
World's Tallest Timeshare Tops Off in Vegas
July 03, 2008
The $1.2 billion PH Towers by Westgate in Las Vegas has reached a pivotal point in development with the attainment of the highest point of vertical construction. Located at the Planet Hollywood Resort & Casino, the upscale 52-story PH Towers (pictured) will be the tallest timeshare building in the world.
$8.9B Penn Gaming Merger Crumbles
July 03, 2008
After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc., an entity involving funds managed by Fortress Investment Group L.L.C. and Centerbridge Partners L.P. affiliates.
CBRE Investors Snaps Up 1MSF Suburban Dallas Office
July 02, 2008
Acting on behalf of its Strategic Partners U.S. 5 fund, CB Richard Ellis Investors has just acquired The Colonnade, a 1 million-square-foot office property in Addison, Texas.
Pair of Senior Housing Deals Total $122M
July 02, 2008
Senior citizens naturally tend to slow down, but two new deals are further evidence that the senior housing sector is as active as ever.
 

 

REal Talk with Adam Perrotta - Tues., July 8th
July 08, 2008
By Adam Perrotta, News Writer --A lot of news out of the Left Coast today, including the approval of a massive makeover for LAX airport, Laramar Group opening its California office with a bang and troubled Maguire Properties selling off...

Maguire to Sell Orange Country Property for $211M
July 08, 2008
By Dees Stribling, Contributing Correspondent -- Maguire Properties, under new management in recent months and pursuing a plan to reduce the debt it incurred by bulking up on SoCal office space in recent years, is selling off Main Plaza Towers...

$400M Army Hotel Program Takes Next Step
July 08, 2008
By Barbra Murray, Contributing Editor -- The U.S. Army's plan for developing and renovating hotels at 12 installations as part of its Privatization of Army Lodging program has just advanced to the next stage now that it has entered into...

Penn National Gets Option on MD Parcel for Possible Casino
July 08, 2008
By Gail Kalinoski, Contributing Editor -- Penn National Gaming Inc. has secured an 18-month option on 36 acres in Perryville, Md., where it hopes to set up a slots casino and entertainment center. The price of the land was not...

Hill Wins Contract for $1.6B Abu Dhabi Project
July 08, 2008
By Scott Baltic, Contributing Editor -- New Jersey-based Hill International has been awarded a contract by Sorouh Real Estate PJSC of Abu Dhabi, United Arab Emirates, to handle project management for Gateway Towers 3 through 8 at the firm's Shams...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...

How to Reduce Employee Turnover
June 06, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Few things in business are as costly and disruptive as unknowingly having the proverbial revolving door for employees to exit from. While there are many secondary and tertiary items that can influence an...

How To Delegate for Success
May 30, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --If you desire to become a top CEO it will be essential for you to master the art of leveraging down. Think of any top performing CEO and you'll find that to the...