Commercial News for 3/1/15
WSJ.com: Commercial Real Estate
Florida Developer Rides Four Seasons Wave
Nadim Ashi plans to build a Four Seasons hotel and condos behind the legendary Surf Club in Miami Beach, part of a new vanguard of developers entering untapped markets for the luxury brand.
Lamar Revenue Tops Expectations
Lamar Advertising reported that its revenue rose more than expected in the December quarter, after its funds from operations jumped 59% due to its conversion into a real-estate investment trust.
Cushman & Wakefield Going Up for Sale
The Italian family that controls Cushman & Wakefield, one of the world?s largest real-estate services firms, is putting the company up for sale as rising property prices push up the value of rivals.
CoStar Preps Site for Lead Role in Rentals
In a bid to leapfrog competitors in the online apartment-listing business, CoStar Group Inc. is spending heavily to make Apartments.com the go-to website for renters seeking new digs.
Norway Fund Bulks Up on Real Estate
Norway?s state-run investment fund is becoming one of the world?s biggest landlords at a time when other big commercial property owners are sounding alarms about high prices.
Brooklyn Nonprofit Sets Mixed-Use Redo
A Brooklyn nonprofit group is cashing in on the borough?s hot real-estate market by cutting a deal with a developer to convert its headquarters to new office space and apartments.
U.S. Home Sales Falter to Start Year
Sales of previously owned homes slowed in January, a reflection of the rising prices and tight supplies that could constrain the housing market this year.