Real estate industry
Developers Diversified Realty Corporation, a leading real estate investment trust (REIT), has announced the tax allocations of the 2005 dividend distributions on its common shares and four series of preferred shares. The company's Form 1099-DIV summarizes the allocation of 2005 common share dividends, which will be reported on
Real estate industry
Mack-Cali Realty Corporation, a fully-integrated, self-administered, and self-managed real estate investment trust (REIT), has announced the tax treatment of its 2005 dividends. The total distribution of $2.52 per share of common stock is classified for income tax purposes, with the fourth quarter 2005 distributions being considered 2006 distributions for
Real estate industry
Japan's Matsushita Electric Works Ltd. is expanding its efforts to promote the use of Techno-Structure, a high-strength construction material for wooden houses, by leveraging its newly developed software that calculates seismic resistance strength. The company plans to increase the number of housing starts using the material in fiscal
Real estate industry
A proposed development on the site of Eagan's Carriage Hills Golf Club has sparked controversy among Eagan residents, who are voicing their concerns and advocating against the project. The Eagan City Council will discuss recommendations from the city's planning commission on January 17, which suggest changing
Real estate industry
China's Minister of Construction, Wang Guangtao, announced that the government will continue to implement macro control measures over the real estate sector in 2006, with a focus on adjusting the housing supply structure to control luxury houses and increase the supply of medium and low-price level ordinary houses
Real estate industry
A 39-lot subdivision proposed by Gunner and Kristen Lamb near Dodge Pond in Lempster has moved past conceptual discussions with the planning board. The subdivision, which will cover 130 acres, is estimated by Planning Board Chairman Mark Adams to be the largest proposed in the past 15 years. The board
Real estate industry
Trizec Properties, Inc., a real estate investment trust (REIT) headquartered in Chicago, has announced the signing of an agreement to acquire a high-quality Southern California office portfolio from Arden Realty, Inc. for $1.63 billion. The portfolio comprises 13 properties, totaling 4.1 million square feet, and several development land
Real estate industry
Potlatch Corporation's Board of Directors has given the green light for the company to begin operating as a real estate investment trust (REIT) on January 1, 2006. This conversion is a significant step towards increasing the company's ability to invest in timberland assets and raise capital
Real estate industry
RealProspex is an innovative online platform that enables buyers to automate their property searches and find the most suitable properties based on their specific criteria. Developed by Eastern Union Commercial, a leading commercial real estate mortgage brokerage, RealProspex aims to streamline the buying process and provide buyers with a tailored
Real estate industry
The Salvation Army Red Shield Youth and Community Center in the Pico-Union neighborhood of Los Angeles will benefit from a year of music programming, thanks to a $15,000 grant from the Majestic Realty Foundation. The grant will fund the Sound Art music enrichment program, which will provide 2.5
Real estate industry
Prosperity Reit's Hong Kong initial public offering launched today, with the firm deciding to focus on industrial and office buildings to steer clear of conflicts with its sister real estate investment trust, Fortune Reit. Chairman Justin Chiu Kwok-hung emphasized that the reit aims to avoid investing in retail
Real estate industry
Caterpillar Inc., a leading heavy equipment manufacturer, is reportedly eyeing the German diesel engine maker MTU Friedrichshafen, according to a recent report in the Chicago-based industry newsletter Stark's Component Ledger. Meanwhile, Prime Group Realty Trust, a Chicago-based real estate firm, is considering the sale of its 975,000-square-foot
