CINCINNATI-The company’s Strategic Investment Fund I was able to secure fixed-rate loans secured by local Bridgewater Falls Shopping Center and Fort Smith Pavilion, a mall in Arkansas.
NEW YORK CITY-An audit of the Port Authority of New York and New Jersey showed the redevelopment cost of the World Trade Center has increased to almost $15 billion.
AURORA, IL-Barrington, IL-based GK Development Inc., which hasn’t purchased anything since 2006, acquired the 362,000-square-foot Yorkshire Plaza here.
CHICAGO-The borrower has defaulted on an $8 million note now owned by Lone Star Funds. Rockwell tells GlobeSt.com the mid-level properties are now coming through foreclosure.
KANSAS CITY, MO-The 11 old buildings will be redeveloped into multifamily, with the assistance from $32 million in financing from based Pembrook Capital Management LLC.
JEDDAH, SAUDI ARABIA-The Chicago-based firm has paired with businessman Majid bin Ibrahim Al Ibrahim to build three new hotels in the country, with two here and one in Riyadh.
BEIJING-The city is riding the China Syndrome of smart growth, where leaders have held back some development to keep demand high, though Cushman says all markets will slow in 2012.
CHICAGO-The REIT won’t incur much extra costs if it bids another $1.3 billion for the remaining minority Archstone interest, which would create a bidding war with Lehman Bros.