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McLEAN, VA—The securitization is similar in structure to Freddie Mac's K Deals except that there is only one originator and it is retaining the subordinate piece, Mitch Resnick tells GlobeSt.com's Erika Morphy.
EDISON, NJ—Mack-Cali Realty Corporation says it leased 918,992 square feet at its office and office/flex commercial real estate properties in Northern and Central New Jersey during the second quarter. Portfolio-wide, Mack-Cali leased 1,377,100 square feet of space during the quarter.
KING OF PRUSSIA, PA—Roseview-PMRG Fund I has acquired 211 South Gulph Road, in King of Prussia, PA, for $21 million, and plans about $1 million in improvements.
HOLMDEL TOWNSHIP, NJ—Somerset's redevelopment of the historic Bell Laboratories site is moving forward, with the first tenant, a technology company, taking up residence in halls once prowled by Nobel Prize winners. Learn more in our exclusive video tour.
BERLIN—The owner/developer's co-CEOs, Jerry Speyer and Rob Sepyer, say the deal for Quartier 205 “constitutes our re-engagement with the Berlin real estate market, where we began over 25 years ago.”
NEW YORK CITY—The Federal Open Market Committee's latest statement indicates that it's basing its decision on the timing for interest rate increases largely on the strength of the labor market, writes Cushman & Wakefield's chief economist.