John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
NEW YORK CITY-As earlier reported on GlobeSt.com, CB Richard Ellis will buy out rival Insignia Financial Group. CB's Ray Wirta will continue to run the show and Insignia's Steve Siegel will head up global brokerage operations.
NEW YORK CITY-Grubb & Ellis brokers are getting restless again, according to a local source. Word on the street has it that the dealmakers want to return the company to its transactional roots. Not true, says president and CEO Barry M. Barovick.
LONDON & NEW YORK-Corporate raider Carl Icahn has raised the prospect of a bidding war at Insignia, and news that he was in talks with the company forced Insignia's share price up another $1.27 to $10.99 in late trading in New York yesterday.
LONDON & NEW YORK-Corporate raider Carl Icahn has raised the prospect of a bidding war at Insignia, and news that he was in talks with the company forced Insignia's share price up another $1.27 to $10.99 in late trading in New York yesterday.
CHARLOTTE, NC-When is a campus more than a campus? When the layout doubles as anchor asset in a mixed-use development. The university has broken ground on two buildings geared to do just that.
NEW YORK CITY-National Golf's shareholders OK'd the deal on December 18. Smart move; holders of outstanding shares will receive $12 per. Roland Smith, hand-picked by the investment group to lead the REIT after the sale, can now take his post.
NEW YORK CITY-But that value is as a hotel property. The question one source poses is: what's it worth as an office? Eastdil beat out several other brokers to land the plum marketing assignment.
NEW YORK CITY-We're on the threshold of war, there are no jobs, the Bush tax plan is a dubious bet and business confidence is still in the dumpster. So why is Mark Zandi so upbeat?
NEW YORK CITY-We're on the threshold of war, there are no jobs, the Bush tax plan is a dubious bet and business confidence is still in the dumpster. So why is Mark Zandi so upbeat?
NEW YORK CITY-In trying times, corporate real estate players look to trim their costs--and that means farming out in-house functions. But while outsourcing is coming back, CREs are hesitant to trust strategies to providers--for now, at least.