Archive for February 8th, 2013
Week in Review for February 2 – 8:
- The Jumpstart Our Business Startups Act (“JOBS Act”), signed into law last year, will likely help more investors participate in real estate ventures formerly restricted to high net worth investors, reports Commercialappeal.com. This securities act, intended to boost American start-ups, will likely promote a “crowdsourcing” approach to fundraising among some real estate companies.
- Philadelphia Business Journal’s Natalie Kostelni provides a look at the brand-new, Philadlephia-area headquarters of Endo Health Solutions (NASDAQ: ENDP). The 320,000-SF property was developed by Trammel Crow Co. and IMC Construction.
- Liberty Property Trust (NYSE: LRY) announces a new office development for the Great Valley Corporate Center, close to Endo Health Solutions’ new property. Liberty will develop a 200,000 SF office for financial giant Vanguard Group in a $55 million project slated for completion in the summer of 2014.
- As New York City’s multifamily market grows increasingly competitive, developers seeking higher returns pursue multifamily opportunities in the Bronx, New York’s poorest (but least expensive) borough. The borough saw a 63% increase in investments in 2012, reports Ariel Property Advisors.
- Real Estate Investment Today reports fundraising for retail REITs throughout the world grew by 80% in 2012, based on data from SNL Financial. Retail REITs raised a total of $22.5 billion last year, the majority of this capital going to publicly traded American retail REITs. Read the rest of this entry »