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Falcon Flies: Investment Advisor Expands Foreign Representation
Editor-in-chief Suzann D. Silverman spoke with Howard Hallengren, chairman of Falcon Real Estate Investment Co., about his company’s business. Hallengren co-founded the company in 1991 to represent foreign investors in U.S. real estate after providing similar services through Chase Manhattan Bank’s international private banking group in the 1980s. For more on how Hallengren sees foreign investment changing, see the May issue of CPN or search for key words “Howard Hallengren” in quotation marks.
Dubai Hoteliers Surge as Part of Global Hospitality Explosion
Growth of global markets is providing an array of opportunities for hotel companies to expand worldwide. And certain pockets are exhibiting particular potential.
Waterfront Toronto Waterfront Toronto Selects Development Partners for West Don Lands
Waterfront Toronto, a entity set up by the Canadian federal government and the governments of Ontario and Toronto, has selected development partners for the first phase of West Don Lands, a mixed-use project that is in turn part of a much larger, decades-long redevelopment of 2,000 industrial or formerly industrial acres along Lake Ontario near Downtown Toronto.
South Korea ProLogis Expands Presence in South Korea with $86M Portfolio Acquisition
Less than a month after announcing two build-to-suit agreements in South Korea, ProLogis Korea Property Fund has acquired approximately 889,000 square feet of industrial warehouse space there for $86.3 million.
Corenet CoreNet Panel: Corporate RE Departments Focused on Global Growth, New Workplace Strategies
Corporate real estate departments are focused more than ever on supporting corporate expansion into new global markets and transforming workplaces into more collaborative areas to attract talent, according to a panel of top corporate real estate professionals and service providers.
Ontario's Next Generation Jobs Fund Likely to Have Real Estate Impact
The government of Ontario is on the verge of awarding a new series of grants to local businesses, a move that promises to stimulate demand for certain kinds of real estate indirectly, particularly space suitable for high-tech research or manufacturing.
zaragoza ProLogis to Develop 860,000SF Pre-Leased Distribution Facility in Spain
ProLogis has unveiled plans to develop and lease an 860,000-square-foot industrial facility in northern Spain to Bosch-Siemens Home Appliance.
NAI Global Report on Middle East Paints Optimistic Picture
War? What war? Violence? What violence? Those words literally don’t appear in “Stuck (Happily) in the Middle (East) with… Money!” a new report from NAI Global, which suggests that diversifying economies and rapid growth are well on their way to transforming the region from its energy-only past into a future with a more solidly based prosperity.
W Hotels Debuts in Europe with W Istanbul
W Hotels Worldwide will mark its entry into Europe today with the grand opening of W Istanbul.
ING Real Estate, Grupo Carrousel, Operadore Punta Maroma to Develop $150M Resort in Mexico
ING Real Estate will partner with Grupo Carrousel and Operadora Punta Maroma to develop a new $150 million ocean front resort on Bahia Maroma along Mexico's Riviera Maya. The cost doesn't include the price of land.
Ghali Hill, Egyptian Developer Forge JV 
Construction management company Hill International and the Talaat Moustafa Group Holding Co. (TMG), one of Egypt’s leading residential and hotel developers, have agreed to form a joint venture “that will provide project and construction management services exclusively on TMG projects throughout Egypt and elsewhere in the world,” according to a prepared statement. 
ProLogis Completes First Lease Transaction in Rome
ProLogis has announced that it has leased 327,000 square feet of distribution space in Rome, Italy, to Coop Italia, a major Italian supermarket chain.
Colony Capital, Eurazeo Seek to Hold 30 Percent of  Accor
Europe hotel giant Accor SA may soon have Colony Capital L.L.C. and Parisian private equity firm Eurazeo holding 30 percent of shares, according to Bloomberg News.
GMH Military Housing Division Bought by Balfour Beatty
Balfour Beatty Group has completed acquisition of the military housing division of GMH Communities Trust for $350 million, it has reported.
$60B Community Breaks Ground in Ajman, UAE 
Following the lead taken by some of its larger neighbors, Ajman, the smallest in size of the seven federated states making up the United Arab Emirates, has broken ground on Al Zorah, a $59 billion master-planned “sustainable residential, business and leisure community,” according to a Reuters news report. 
Melco Developing Ski Resorts, Homes In China
Capitalizing on China's growing ski culture, Melco China Resorts, an associate of Melco International Development Ltd., has announced the launch of China's first ski and leisure resort, the redevelopment of other ski areas and the groundbreaking of a luxury mountain home project.
Buenos Aires Office Tower Fetches $70M
IRSA Inversiones y Representaciones S.A. has acquired the Edificio Republica building in Downtown Buenos Aires, Argentina, for $70.3 million, adding 214,000 square feet to its portfolio. With this purchase, the company also expects to soon close lease agreements for approximately 172,000 square feet.
AMB Expands Presence in Port of Hamburg
AMB Property Corp. has acquired an industrial complex near the Port of Hamburg, Germany, totaling more than 930,000 square feet of existing buildings and 16 acres of land. Kuehne + Nagel, a Swiss logistics company and AMB customer in other parts of the world, has leased about 402,000 square feet of the park in connection with this purchase.
Infrastructure Demands Will Be Major Challenge: ULI Report
A report just released by the Urban Land Institute and Ernst & Young concludes that the U.S. will fall behind in the global marketplace if it doesn't invest in modernizing its infrastructure. The report, Infrastructure 2008: A Competitive Advantage, evaluates the status of existing and planned infrastructure investment not only in the U.S. but in China, Europe, India, Japan and Europe, as well.
Proposed Merger of Altus, Integra Will Benefit Both  
The proposed merger, officially announced yesterday, of Altus Group Income Fund and Integra Realty Resources will likely be a strong move forward for both parties.
Colwood City Centre Rezoning Approval Pushes Forward $1.8B Canada Mixed-Use Project
The process of rezoning a nearly 14-acre parcel that is currently home to two retail centers in Colwood, Victoria, Canada progresses to the final stage, thereby paving the way for the development of a high density mixed-use project.
InStorage REIT Taps Kan for Senior Management Appointment
InStorage Real Estate Investment Trust has announced that Judy Kan has been appointed senior vice president for investments.
U.S. Firm Awarded $2.5B High-Tech Turnkey Development Contract in China
Irvine, Calif.-based Trussnet USA Development Co. has won a finance, design and build contract for the facilitation of a high-tech, mixed-use turnkey development in China. The project, which will encompass 12.9 million square feet, will cost an estimated $2.5 billion to complete.
RREEF, Blackstone Ramp Up Investments in India 
RREEF, a unit of Deutsche Bank AG and the world's largest alternative investment manager, has plans to invest more than $1 billion in India’s real estate and infrastructure assets over the next three years, according to a news report by Bloomberg today.
ProLogis Begins New Tokyo-Area Development
ProLogis has started the first phase of construction on a major new distribution park near Tokyo, Japan, it has announced.
 

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