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LONDON-The European Commission has cleared a complex pounds two billion ($3.2 billion) joint venture between Morgan Stanley, Pirelli and Telecom Italia/Olivetti.
IRVINE, CA-Orange County ranks fourth in the nation in terms of how sellers fare in selling industrial buildings, according to a new study of major market transactions that closed this year.
NEW YORK CITY-The city's Industrial Development Agency has taken the vote off its calendar indefinitely following controversial remarks by exchange chairman Richard Grasso questioning the project's post-September 11 viability.
NEW YORK CITY-The 47-story office building, severely damaged and visibly leaning, collapsed at roughly 5:20 p.m. yesterday. The building was the site of New York City Mayor Rudy Giuliani's remote command center, which has been relocated to undisclosed meeting space.
NEW YORK CITY-Attorneys for Larry Silverstein yesterday afternoon filed the developer's hotly anticipated counterclaim to the lawsuit filed against him by reinsurer Swiss Re.
NEW YORK CITY-Governor George Pataki and lame-duck Mayor Rudy Giuliani announce a powerful corporation that will oversee the funding and development of Lower Manhattan. The plan is already taking hits from city and state officials who are labeling it as a partisan hedge against the possibility of a Democrat moving into Gracie Mansion and taking the reins of redevelopment into his own hands.
BEVERLY HILLS, CA-The CMBS wizard departs after less than six months as president of the international real estate services firm. Penner joined Kennedy-Wilson in March.
NEW YORK CITY-Reports that Morgan Stanley plans to sell its new Midtown building before the paint dries were confirmed yesterday. Lehman Brothers will buy the 32-story building, which cost roughly $400 million to build.
PLYMOUTH, MA-The Conservation Law Foundation files a petition with the state's environmental affairs office in an attempt to halt A.D. Makepeace from selling off a chunk of beachfront land. The parcel is part of an 1,800-acre site the Wareham, MA-based cranberry developer is looking to develop.
WASHINGTON, DC-As two planes, one a commercial jet, crashed into the twin towers of the World Trade Center in New York, causing them to implode, another commercial plane plowed into a helipad at the Pentagon, collapsing a section of that building. At least 22 people have been transported to Virginia Hospital Center.