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Real Estate and Development

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AIB breaks ground on expansion project

AIB College of Business yesterday hosted a ground-breaking ceremony on a $1.5 million expansion project at 2280 Bell Ave. in Des Moines. Mayor Frank Cownie, AIB President Nancy Williams, and Martha Willits, president and CEO …

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DCA names Brokers of the Year

Five commercial real estate professionals were recognized for their brokerage work in the city’s core. The Downtown Community Alliance announced that Jason Lozano and Kevin Crowley, both of Iowa Realty Commercial, were selected as the …

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Changes to New Markets Tax Credits proposed

The U.S. Treasury Department and the Internal Revenue Service on Tuesday announced proposed changes to the New Markets Tax Credit program to encourage more investment in non-real estate businesses located in low-income communities. Potential changes …

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Construction group announces safety and quality construction awards

Master Builders of Iowa has presented its masters award for projects valued at $10 million or more to Neumann Bros. Inc. of Des Moines. Master Builders, a construction industry trade association, said Neumann maintained a …

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Macerich and General Growth make a deal

In a complicated property swap and cash deal, The Macerich Co. has gained control of two regional malls located in the Phoenix metro area, GlobeSt.com reported.

Santa Monica, Calif.-based Macerich bought out Chicago-based General Growth …

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Iowa Finance Authority approves 15 tax-credit projects

Fifteen housing projects stand to benefit from the allocation of $10.3 million in low-income housing tax credits (LIHTCs) by the Iowa Finance Authority.

Developers who receive LIHTCs typically sell them to investors to generate equity …

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Theisen’s plans big footprint in Indianola


Theisen’s Inc. would have come to Indianola sooner, but the farm-supply business was busy expanding elsewhere in Iowa, says co-owner Chris Theisen.

When the Dubuque-based company’s 65,000-square-foot store opens this fall in Indianola, it will …

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Construction spending figures ‘deceptively positive’

Construction spending inched up for the second straight month in April, by 0.4 percent, following downward revisions to the March spending figures, the Associated General Contractors of America reported Wednesday. April’s increase has driven private …

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New Sammons subsidiary to consolidate real estate

With a goal of consolidating its real estate investments and expanding that part of its business, Sammons Enterprises Inc. announced this week the formation of Compatriot Capital Inc.

“We believe the current dynamics in the …

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Job creation to bolster CRE market

A recovery in the U.S. commercial real estate market will be buoyed as the job market improves, the Financial Times reported.

But as buildings fill – the National Association of Realtors (NAR) estimates vacancies will …