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December 11, 2006 | Vol. 4 No. 50
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Top Stories for the Week of December 11, 2006
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For Regional Coverage

C&W in Talks to Switch From Japanese Ownership
NEW YORK CITY-Sources confirm that the New York City brokerage house and the Agnelli family of Italy are about to shake hands on a $600-million buy-out of Mitsubishi Estate Co.

Reckson Approves SL Green Merger
NEW YORK CITY-After over a month of speculation, fueled by unhappy shareholders and sudden competing bids, and a day of suspense Reckson will go to its original suitor.

Tishman Speyer Breaks Another Record
NEW YORK CITY-Tishman Speyer’s sale of the class A office building, 666 Fifth Ave., comes just months after the company agreed to purchase Stuyvesant Town Peter Cooper Village for $5.4 billion

Hard Rock Trading Hands for $965M
HOLLYWOOD, FL-The Seminole Tribe here is buying the 130-plus asset Hard Rock International from British gamin company Rank Group PLC.

Damac Plans $16B Egyptian Project
DUBAI-The mixed-use development will span 3,000 ha of land at the Gamsha Bay Egyption resort on the Red Sea.

RealShare EXCLUSIVE: Housing Cools, But Nonresidential Still Hot
HOLLYWOOD, FL-Strong fundamentals, coupled with the lack of available land, is contributing to strength in the nonresidential sector--keeping the region from entering a recession.

Station Casinos Reviewing Buy-Out Offer
LAS VEGAS-A group led by company chairman and CEO Frank Fertitta offers to acquire all of the casino operator’s outstanding stock for $82 per share in cash, or about $4.7 billion.

RealShare EXCLUSIVE: Space Demands May Turn on Election Results
MCLEAN, VA-Panelists at the RealShare Conference discussed the impact BRAC and the recent elections will have on the market.

Developer Adds Units to 2,000-Ft Tall Chicago Spire
CHICAGO-Shelbourne removes the hotel, above-ground parking garage and antenna, and boosts the number of units to 1,300; plans will be reviewed Dec. 8.

Local Firm Presents $900M Waterfront Plan
YONKERS-Homes for America Holdings Inc. has submitted plans to the city for a mixed-use development on the waterfront at the former BICC Cable property. The locally based firm hopes to break ground by year’s end 2007.

$850M Village Set to Go Vertical
LAS VEGAS-A year after site work began, workers here are preparing to bring the 1.35-million-sf come 1.35-million-sf Village at Queensridge out of the ground.

BOMA, USGBC Ally to Promote Green Building
WASHINGTON, DC-BOMA will be a USGBC Top Tier Partner in this endeavor, which will focus on environmentally friendly construction and maintenance practices.

Stadium Gets $300M NFL Loan
EAST RUTHERFORD, NJ-The proposed 81,000-seat venue for the Giants and Jets is now slated to start construction in mid-2007, if the two teams can agree on some design issues.

Ashford Finalizes $267M Portfolio Takeover
DALLAS-As promised, the REIT takes 2,004 keys to seven hotels for $267.2 million. As the keys turn, Ashford puts two hotels up for sale.

Print Top Stories

Regional Coverage
Northeast     Print Full Region
SL Green Plows Ahead; Reckson Deal a Lock-In
Normandy Acquires $157M Portfolio
One Newark Center Sells for $111M
Mills and Gazit-Globe Reach Accord
$200M Green Project To Be New England's Largest
Developer Plans $240M Family Spa
Benjamin Moore Buys 142,000-SF HQ
Con Edison Leases 12 Water St. Building
$40M Entertainment, Retail Complex On Tap
Southwest     Print Full Region
Unilever Working 2M-SF Development Deal
JV Invests $60M Plus Into Triple Retail Buy
Fluor Wins $2.2B Saudi Petrochemical Contract
Investcorp, Hicks Planning $730M Takeover
JV Plans $1B Hotel-Style Hospital Projects
Retail Consultant Picked for $1B-Plus Mixed Use
Colonial Sheds Almost 1M SF of Retail to JV
$24M Loan Jump-Starts Stalled $250M Project
Construction To Launch on Spec 307,200 SF
Firm Signs 210,000-SF Lease for Office Space
LA Investor Snags 126,015-SF Northwest One
Midwest     Print Full Region
Jaffe Building 600,000-SF Center in Suburbs
Transpacific Acquires 793,000 SF in Indy
Jupiter Gets Nod for $162M Apartment Asset
New McShane Firm Looks to Acquire 400,000 SF
Duke To Acquire Healthcare Development Firm
Consulting Firm Renews at One S. Wacker
WellPoint Leases 117,500 SF of Office at IMC
DLC Enters Nebraska With Recent Retail Buy
Apartment Market Rebounds in Chicagoland
Bridgewood Plaza in Iowa Fetches $215 Per SF
West Coast     Print Full Region
Frosh Resigns SVN Post
NV State Board Recommends Sands Regent Sale
Tracinda Corp. Starts Tender Offer for MGM Mirage
Chevron Expands at Bishop Ranch
Mammoth Equities Relocates to New HQ
NBC Universal Unveils Plan for 391 Acres
UBS Fund Buys $92M Trammell Crow Complex
CB Richard Ellis Acquires Hawaii Office
Next Realty Plans 450,000-SF Power Center
100,000-SF Office Campus Trades Hands
Southeast     Print Full Region
407,000-SF Office Buy Moves FL Firm Into Market
$250M Mixed-Use Project To Rise on 200 Acres
Investment Group Eyes $250M Mixed Use
Two Firms Team on $175M Mixed-Use Project
Dirt Moves on $120M First Phase of Office Project
Highwoods Sells Non-Core Assets for $38M Plus
Kindl To Head Plascencia Hotel Debt Placement
$21M Plus Gives Bascom Another Georgia Asset
Around The Globe     Print Full Region
Aldar To Develop $40B Leisure Island
New Industrial Park Set for Northeastern China
$788M Moves Massive Mixed-Use Project Into New Hands
Fund Plans 600,000-SF Retail Center in Romania
Hilton To Manage Its Second Hotel in Kuwait
Departments
Executive Watch: The Hottest Openings; Insightful Commentary
UpClose: Moody's John J. Kriz
ViewPoints: The CDO Stands Out


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