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Northeast
Legal Battle May Follow End of EnCap’s Meadowlands Project
May 09, 2008
A once-promising proposal to transform landfills in Northern New Jersey into an 800-acre master-planned community now appears headed for a long legal battle. 
Atlantic Yards MTA, Tishman Speyer Hit Roadblock on Hudson Yards Talks
May 09, 2008
The massive redevelopment of rail yards on Manhattan’s Far West Side is in limbo after talks between Tishman Speyer Properties and a local transit agency broke down late yesterday afternoon.
State Announces $25M in Funds for Building, Refurbishing Affordable Housing
May 08, 2008
New York State's push to increase its pool of affordable housing marches on as Gov. David A. Paterson announces that $25.5 million in grants and financing will be doled out for the renovation of 396 multifamily units in communities across New York City and in the western portion of the state.
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Mid-Atlantic
Housing Prices Fall Most in Philadelphia, Las Vegas
May 09, 2008
The largest three-month declines for house prices occurred in Las Vegas and Philadelphia, off 5.1 percent and 4.5 percent, respectively, according to the Altos 10-City Composite Price Index.
AHC Celebrates Opening of 108 New Affordable Rental Apartments in Arlington, Virginia
May 09, 2008
AHC Inc., the largest nonprofit developer and owner of affordable housing in Northern Virginia, celebrated the opening of The Frederick, a nine-story building with 108 new apartments for low- and moderate-income residents, it has announced.
44-Acre Purchase Paves Way for Durham M-F Project
May 08, 2008
Development of Phillips Research Park, a 344-residence apartment project in Durham, N.C., edges closer toward realization with Phillips Development & Realty L.L.C.'s completion of the acquisition of 44 acres of land. The parcel sits just north of the renowned 7,000-acre Research Triangle Park, the largest research park in the United States.
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Southeast
DCT Industrial Sees Strong Leasing Activity in Memphis
May 09, 2008
DCT Industrial Trust Inc., a Denver-based industrial REIT, has signed more than 770,000 square feet of leases in Memphis, including two companies that expanded and a new client.
Lenox Park Wells REIT II Buys Atlanta Office Campus in AT&T Sale-Leaseback
May 09, 2008
Wells REIT II has acquired a five-building, 1 million-square-foot office campus in the Buckhead submarket of Atlanta, through a long-term sale-leaseback with AT&T. The campus will headquarter AT&T Wireless' operations in the city. The transaction's terms were not disclosed.
Orlando Sanford International Airport to Join Model Ports Initiative
May 08, 2008
Orlando Sanford International Airport is one of 20 gateway airports nationwide selected to join the U.S. Customs and Border Protection’s Model Ports Initiative, a joint venture that includes federal agencies, the travel industry, airlines and airport authorities.
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Midwest
GM to Buy Properties in Detroit, Michigan, Issues Mortgage-Backed Line to Subsidiary
May 09, 2008
An 10-Q filing has confirmed GM's buy of three properties, including its Detroit, Michigan-based corporate headquarters, for a total of $826 million.
Procter & Gamble Leases 1.2MSF Suburban St. Louis Industrial Building
May 09, 2008
In an effort to fulfill its need for a large block of industrial space in the St. Louis area, Procter & Gamble has signed a lease that will expand an existing 580,000-square-foot distribution center into a 1.2 million -square-foot facility.
$1M Sale of 19th Century Retail Building to Yield New Apartment Complex
May 08, 2008
Detroit's Downtown Development Authority has just signed off on the $1 million sale of the historic Pepper Shoe Building on Woodward St. for a residential redevelopment endeavor, according to Crain's Detroit Business.
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Southwest
Housing Prices Fall Most in Philadelphia, Las Vegas
May 09, 2008
The largest three-month declines for house prices occurred in Las Vegas and Philadelphia, off 5.1 percent and 4.5 percent, respectively, according to the Altos 10-City Composite Price Index.
Alter Sells 2 Phoenix Industrial Properties for $41M
May 09, 2008
The Alter Group has sold two distribution buildings totaling 684,000 square feet at its 162-acre Buckeye Logistics Center in Phoenix.
addison project UDR Breaks Ground on $1B Dallas-Area Mixed-Use
May 08, 2008
Denver-based UDR Inc. broke ground today on a $1 billion, 99-acre multi-family, retail and commercial development in the Dallas suburb of Addison, Texas.
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West
CT Takes Fleetwood HQ
May 09, 2008
Newport Beach, Calif.-based CT Realty Corp. has acquired Citrus Park, a 12-building office and industrial park in Riverside, Calif., from Fleetwood Enterprises Inc.
Sares Regis Takes California Industrial Facility, Plans Expansion
May 09, 2008
Sares Regis Group of Northern California has purchased Pinole Point Business Park in Richmond, Calif.
$1.1B Made Available for Development of Stem Cell Research Facilities in California
May 08, 2008
In an effort to accommodate the demand for more stem cell research in California, a group of organizations has committed an aggregate $831 million for the construction of facilities to be designed specifically for stem cell research activities. The funding will allow for a total of $1.1 billion for the projects, which will be located across the state.
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International
Falcon Flies: Investment Advisor Expands Foreign Representation
May 09, 2008
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
May 09, 2008
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
May 09, 2008
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.
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