Commercial Real Estate Finance

Posts Tagged ‘Barnes Foundation’

Week in Review for January 12 – 18:

- RMBS investment REIT Zais Financial Corp. files for an IPO in which it hopes to raise as much as $140 million. The mortgage REIT, a division of investment firm Zais Group, did not announce the price or number of shares it would issue.

- The American Institute of Architects (AIA) recognizes Todd Williams Billie Tsien Architects for its design of the Barnes Foundation, the recently developed art museum in Philadelphia. The Barnes is among a select group of projects honored for their urban planning and architecture. The Barnes has been the subject of controversy since it was announced the renowned art collection would be moved from its suburban location to its present place on Philadelphia’s Ben Franklin Parkway.

- Single-family homebuilder Lennar Corp (NYSE: LEN) enters the multifamily sector, beginning with a $36 million project in Jacksonville, FL, and a $32 million development in Atlanta, reports Bloomberg. Lennar joins fellow homebuilder Toll Brothers (NYSE: TOL) in creating a presence in the highly active multifamily sector.

- The U.S. industrial sector sees a 0.3% rise in production in December, reaching its highest level since 2008. Manufacturing, in particular, shows a strong increase–a positive sign for many in the industrial real estate sector. Read the rest of this entry »

Mensch:

Noun, informal. A decent, upright, mature and responsible person.

Schlemiel:

Noun, slang. An awkward, clumsy, or unlucky person whose endeavors tend to fail; a loser.

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Mensch of the Week:

Stephen Starr, Starr Restaurants

I’m a little embarrassed that it’s taken me this long to do a proper post on Philadelphia restaurateur and taste-maker Stephen Starr, whose Starr Restaurants organization has done as much as anyone to revive Philadelphia’s Center City and Old City neighborhoods. Mr. Starr’s development of unique restaurants has boosted the area’s appeal to both locals and visitors, and his many accolades include being named “Restaurateur of the Year” by Zagat and “Mensch of the Week” by the Llenrock Blog.

Since my writing is totally biased in favor of Philadelphia’s CRE news, the establishments driving this area’s culture and reputation are major interests for me.

Mr. Starr has been in the restaurant hospitality business for decades, and his many restaurants include such well-known eateries as the Continental, Buddakan, and Morimoto (co-owned with the Iron Chef of the same name). Read the rest of this entry »