News/Events
Sunday Summary: Rate Hikes, Investor Conferences and Power California
William McChesney Martin, the ninth chairman of the Federal Reserve, is credited with saying that the duty of the Fed is to “take away the punch bowl” just as the party is getting started — i.e., to raise interest rates before inflation has a chance to bite. It’s one of the things that makes the…
State Farm's 1.1M SF Suburban Atlanta Hub Put Up For Sale
Atlanta's State Farm towers are fully leased and have $527M in rent remaining.
Data Center Energy Bill Stalls In Congress As Opponents Say It Lacked 'Real Teeth'
A bill to prevent data centers from spiking energy bills stalled in the Senate, potentially creating a political liability for Republicans.
Iconic Jersey Shore Property Hits The Market For $85M As Redevelopment Play
The Atlantic City landmark is on sale for $85M, offering new redevelopment opportunities in hospitality and entertainment.
FedEx's Consolidation Plan Puts $3B Of CMBS Debt In Crosshairs
FedEx's consolidation could trouble industrial landlords with leases expiring before mortgages mature.
FBI Opens Investigation Into Multifamily Investor Lurin Capital
The FBI is probing Lurin Capital after lawsuits claim fraud across its Sun Belt multifamily portfolio. The FBI is seeking more information from victims.
DWS Plans Liquidation Of Nontraded REIT After Heightened Redemption Activity
RREEF Property Trust met all of its July redemption requests but fulfilled only two-thirds of its June requests.
Asian-American Deli Café Hestia Signs 8K-SF Lease at 570 Lexington Avenue
A cafe serving Asian and American cuisine is opening a fourth Manhattan location, Commercial Observer has learned. Café Hestia, a group of family-run delis, has signed a 20-year, 8,000-square-foot lease at the base of the Feil Organization’s 570 Lexington Avenue, which it will likely also use as a catering facility, according to tenant broker Kassin…
Edgewood Capital Provides $27M Refi for Fort Lauderdale Condo Project
Latitude Group has landed a $27.9 million loan to refinance a newly completed condominium project in Fort Lauderdale, Fla., Commercial Observer has learned. Edgewood Capital supplied the loan for the Terraces condo tower set to debut this fall, sources familiar with the deal told CO. Latitude Group previously secured a $24.5 million construction loan from…
