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CoStar’s People of Note (Week of May 26) Tanger Promotes Two from Senior Management Team

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: North Carolina, St. Louis, Dallas / Ft....

Amtrak, Chicago Leaders Pick Developer for $1 Billion Union Station Redevelopment

Chicago and Amtrak officials have tapped Riverside Investment & Development Co. to serve as master developer for a massive renovation and expansion of Chicago Union Station along with properties owned by the passenger railroad service surrounding...

Unprecedented Chinese Investment in US CRE Raising Concerns in Washington, DC

As investors from China continue to splurge on US commercial real estate, concern is rising in Washington DC over the potential implications this deluge might be having on national security. To ensure that those implications are being fully...

RECon RECap: Shopping Center Owners Shift Focus to Capitalize on Recaptured Store Spaces

About 37,000 retailers, retail brokers, investors and other retail professionals gathered in Las Vegas this week for RECon, the industry’s largest trade convention, amid a tangible sense of frustration — not so much about the retail...

Despite Ample Investment Capital, Growing Complexity, Changing Dynamics of Retail has Investors Taking Wait-and-See Approach

As attendees of this year’s three-day RECon in Las Vegas boarded planes to go home, Fitch Ratings issued its latest report outlining the risks posed by weaker shopping malls to certain recent vintages of commercial mortgage backed securities...

NAIOP Survey: One-Year Market Outlook Bolstered by Confidence in Employment, Occupancy Rates

Prospects for the CRE market moving ahead at a more robust pace are higher than what was expected six months ago, according to the latest NAIOP Sentiment Index conducted earlier this spring. While the results, which reversed a consistent two-year...

Hines to Develop Office, Mixed-Use Tower at Miami Worldcenter

International real estate firm Hines plans to develop a new office-led, mixed-use tower at 110 10th St. in the heart of downtown Miami, FL. Hines expects to commence construction in the second quarter of 2018, with an anticipated initial occupancy...

ElmTree Funds Taps China Life for $950 Million Recap of Net Lease Portfolio

ElmTree Funds LLC, a private equity real estate firm based in St. Louis, announced it has secured a $950 million recapitalization of one of its net lease portfolios with a wholly-owned subsidiary of China Life Insurance Group, the largest financial...

Phillips Edison Grocery Center REIT to Internalize Management; Acquire 76 Shopping Centers from External Advisor

Phillips Edison Grocery Center REIT I Inc. (PECO I) will acquire the real estate and asset management business of its sponsor and external advisor, Phillips Edison LP, in a stock-and-cash transaction valued at $1 billion. The resulting entity...

Blackstone To Launch $40 Billion Infrastructure Investment Fund with Saudi Arabia

Over the weekend while President Donald Trump was in Saudi Arabia, Blackstone and the Public Investment Fund of Saudi Arabia signed a memorandum of launching a new infrastructure investment vehicle. PIF will anchor the fund with a $20 billion...