Reis Inc News
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Inland American Real Estate Trust Inc. sold the 57-story IDS Center, the tallest building in Minnesota, for $253 million to a joint venture of Beacon Investment Properties LLC and two Israeli companies.
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Simon Property Group Inc., the largest U.S. mall owner, reported an increase in first-quarter funds from operations and raised its FFO forecast for the year as retailers sought more space in regional shopping centers.
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The deepest downturn since the Great Depression has interrupted a decades-long trend of jobs steadily moving to the suburbs and hollowing out urban business districts across the U.S., a study finds.
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U.S. shopping-center occupancies rose to a three-year high in the first quarter, enabling landlords to raise rents as less space was added to the market, Reis Inc. said.
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U.S. apartment rents increased in the first quarter at their slowest pace since late 2011 amid a wave of construction that will further test landlords’ ability to raise rates, Reis Inc. said.
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Mitsubishi UFJ Financial Group Inc. agreed to acquire about $3.7 billion of property loan assets from Deutsche Bank AG to boost its commercial lending on the U.S. East Coast.
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U.S. office construction dropped to the lowest level in at least 14 years in the first quarter as slowly rising rents and high vacancies discouraged developers from building, Reis Inc. said.
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A Seattle office tower that’s planned to be the city’s tallest new building in two decades will include a luxury SLS hotel, the boutique brand’s first location in the area, as property demand strengthens.
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U.S. apartment vacancies declined to an 11-year low in the fourth quarter as construction of multifamily complexes spurred by rising rents failed to keep up with increasing demand, Reis Inc. said.
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Sales of single-tenant retail properties -- buildings leased to fast-food joints, pharmacies and other store operators -- have soared to a six-year high as investors seek real estate that performs better than bonds.
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