Office REIT Highwoods Properties Inc. (NYSE: HIW) has been named 2009 Developer of the Year by NAIOP, the Commercial Real Estate Development Association.
Appearing before the Congressional Joint Economic Committee (JEC) on July 9, Richard Parkus, head of commercial mortgage-backed securities and asset-backed securities for Deutsche Bank, said that despite the substantial losses investors have incurred in the CMBS market during the past two years as a result of the defaults of the loans underlying the securities, still more pain lies ahead.
In February, Extra Space Storage Inc. announced that Kenneth M. Woolley, the company's chairman and CEO, would be taking a three-year leave of absence to serve a mission in Moscow for the Church of Jesus Christ of Latter-day Saints.
The U.S. REIT market completed its best quarter ever in June, as the FTSE NAREIT Equity REIT Index gained 28.9 percent in the second quarter of 2009. The index's performance marked its highest quarterly gain since its inception in 1972.
Commercial real estate investment group J.E. Robert Companies has tapped industry veteran Barden Gale as its new CEO, the firm announced June 29.
New legislation signed into law by President Barack Obama on June 23 authorizes the administrators of the Thrift Savings Plan (TSP), the federal government's defined contribution retirement program, to expand participants' investment options, potentially including distinct REIT funds.
The U.S. Green Building Council (USGBC) announced June 25 that it will require recurring performance reports for buildings to receive LEED certification, a benchmark for sustainability in the commercial real estate industry.