| Yesterday's $14M Closing Passes 125000 SF
IRVING, TX-A first-time buyer in North Texas has tucked away the win for a 125,000-sf class A-minus office building at the gateway to Dallas/Fort Worth International Airport. The deed changed hands yesterday for $14.1 million or $115 per sf. "The key thing about this deal is the price per sf. It would cost well over $250 per sf to replace today," Ted Gibbons, president of Investment Realty Advisors Inc. in Bellevue, WA, tells GlobeSt.com about the acquisition of 8505 Freeport Pkwy. The six-story building is 95% leased, with 80% of the office space as the North America headquarters for Hanson Aggregates Inc., with nine years left on its Las Colinas submarket lease. Gibbons says the buyer is a private investor from South Florida. The seller is a limited partnership with Naples, FL and Minneapolis ties, which had the NAI Welsh team of Bob Pounds, Tim Prinsen and Betsy Budge in the Twin Cities region marketing the 8.3-acre property.
Duffy's buys Roadhouse Grill
A private sports restaurant chain said it has a deal to purchase 85.5 percent of Roadhouse Grill's common stock for $7.99 million. Palm Beach Gardens-based Duffy's Holdings, which operates the Duffy's Sports Grill chain, said it will acquire the stock from the steakhouse's principal shareholders. .
MICC Investments Announces 2006 Year-End Results
TORONTO, ONTARIO -- (MARKET WIRE) -- April 10, 2007 -- MICC Investments Limited (the "Company") reported consolidated net income of $40.5 million for the year ended December 31, 2006, compared with consolidated net income of $7.6 million for 2005. The results for 2006 included gains on the sales of investments of $30.2 million compared to $5.1 million in 2005. These gains together with higher interest yields on the company's portfolio and an increase in the size of the investment portfolio, contributed to an increase in revenue levels by $34.1 million. Expenses for 2006 were $0.7 million, compared to $3.0 million in 2005. The prior year's expenses included foreign currency translation losses of $1.1 million.
SOURCE: MICC Investments Limited .
Luxury Real Estate Markets - How Risky?
We are asked a lot about whether any softening of the second home market will impact fractional real estate alternatives, such as destination clubs and private residence clubs. It depends. As you might expect, there are two ways to think about it. A softening of prices could hurt the fractional players - reducing the market value of their homes (for destination clubs) or hurting the sale of new fractions (no fun being an owner in a PRC that is half-sold, perhaps half-built). The other side of the coin is that when the market softens, it's a great time to be fractional owner or destination club owner. As an owner/member you have not committed all your capital to one home in one market - perhaps making downturns more tolerable. The April issue of Worth magazine has a well-researched story about luxury real estate and its current health relative to other markets [no link available since the story is not online - duh].
Mining company tries to shore up support
The senior vice-president of exploration and development for Shore Gold Inc. says investors likely overreacted last week to the company's fi rst major set of results from its Fort a la Corne (FALC) joint venture, a reaction that sent Shore's stock price tumbling more than $1.29 in mid-week trading. George Read agrees the single-digit grades reported in the results from the Orion North kimberlite were not what investors are used to seeing from Shore. The company's kimberlite grades from its wholly owned Star kimberlite have been averaging from 15 to 20 carats per hundred tonnes. The results from the 3,400 tonnes of rock extracted this winter from the Orion North section of the joint venture property came in at just under three carats per hundred tonnes of rock. .
The Real market and PROTRADE, part 2
Having been here for a couple of months, I've made a few trades and earned over 10% of my initial portfolio stake. In the real market, 10% in 2 months is great. In Protrade, it's nothing. There's a correlation between the real stock market and Protrade that honestly does affect the experience of everyone in the market. This is the correlation between risk and reward. When you are in the market investing your retirement money, you are looking for a unique risk/reward combination that is established between you and your financial advisor. You generally find solid companies like Coca-Cola and Procter & Gamble, which you hope will have decent returns but aren't likely to go bankrupt. You might (but don't have to) allocate a small portion of your portfolio for 'opportunities' such as the Hail Mary Oil Exploration and Drilling Company.
Nexans opens a new plant in China
Opening ceremony of Nanning plantNanning, April 10, 2007 – Nexans, the worldwide leader in the cable industry, held a grand opening ceremony on March 22 to mark the official start of production in Nanning, Guangxi Province, China. The new plant, Nexans' third wholly-owned facility in the country*, produces telecommunication and signalling cables for the railway infrastructure market. It represents a major step in improving Nexans' geographic coverage of China. Initially Nexans Nanning will mainly manufacture copper telecom cables used in switching, transmission and DSL access for fixed and mobile networks, including multi-pair cables for both indoor and outdoor telecom applications. But to take advantage of the rapid expansion of conventional tracks and high speed lines in China's rail network, the new plant will also start offering railway signalling cables (station range access cables, signalling and control cables, axle counter and balise cables).
US Investors Bullish on Indian Real Estate
Anoop Dave, a real estate consultant in Philadelphia, recalls a dinner conversation he had two years ago with a senior Goldman Sachs executive involved in the firm's global real estate investments. This executive swore he would never invest in India, adding that his determination had been cemented by impressions formed after a recent visit to the country.Times change. For about a year now, Goldman Sachs' Whitehall Street Real Estate Funds have been exploring the Indian market and checking out potential investment partners. In March 2005, the firm announced it planned to invest up to $1 billion over the next two years in Indian private equity, real estate, private wealth management, and other businesses in India for its institutional clients. A month later, California Public Employees' Retirement System invested $100 million in a $400 million real estate fund promoted by India's Infrastructure Leasing & Financial Services.
Save for college with a 529 plan
It's never been more important for the children in your life to receive a college education. Studies show that over a lifetime, the earning gap between a person with a high school education and one who has a college degree may exceed $1 million.* According to The College Board (a not-for-profit educational association), for 2004-2005, average costs per year totaled $5,132 at a state university and $27,516 at a private university.** Should you also be thinking about graduate or professional school, the costs may really skyrocket. A 529 Plan Can Help .
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