Real Estate and Development

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Altoona will chip in for Adventureland drainage work


The Altoona City Council approved an agreement that will direct annual payments to Adventureland Amusement Park for the next five years as compensation for sewage and stormwater retention improvements made by the company on its …

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Meredith Corp. signs a lease for nine floors in Manhattan


CoStar Realty Information Inc. reported that Des Moines-based Meredith Corp. signed a lease for 212,594 square feet on nine floors at 805 Third Ave. in New York City. The 31-story, 615,000-square-foot Manhattan office building opened …

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Real estate’s bright side


Remove the adjective “toxic” from commercial real estate.

So says Kelly Rush, head of global property securities for Principal Global Investors LLC, who noted recently that even during the darkest days of the reorganization of …

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George Sherman shares plans for future projects


Sherman Associates Inc. has identified two more properties in downtown Des Moines that it would like to convert into living spaces.

George Sherman, who founded the Minneapolis-based commercial real estate company in 1991, was in …

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General Growth exits bankruptcy, spins off new company

General Growth Properties Inc. has emerged from bankruptcy and split itself into two companies, Bloomberg reported.

The company said it spun off Howard Hughes Corp., an owner of master planned communities and other properties, which …

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Commercial mortgage, construction loan delinquencies rise

The delinquency rates for commercial mortgage and construction loans rose in the third quarter, according to preliminary estimates by Foresight Analytics.

Construction lending delinquencies, including commercial and residential loans, were up to an estimated 19.5 …

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Hubbell to rebuild Plumwood Terrace

Hubbell Construction Services, a division of Hubbell Realty Co., recently began reconstructing Plumwood Terrace Condominiums in Urbandale. In July, a fire destroyed the entire third floor and portions of the second and first floors of …

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Ankeny receives DOT grant for Crosswinds expansion

The city of Ankeny will receive a state transportation grant of nearly $1.4 million for street extensions in Crosswinds Business Park. The Iowa Transportation Commission yesterday approved a Revitalize Iowa’s Sound Economy (RISE) local development …

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Bank of America asks to delay Albaugh lawsuit

Bank of America Corp. has asked a federal judge in Des Moines to put a hold on a lawsuit it filed in connection with a Florida development operated by Ankeny businessman Dennis Albaugh. The lender …

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Senior housing cooperatives offering shares


The senior housing cooperative, an ownership model that’s been popular in Minnesota for years, is beginning to catch on in Central Iowa.

In Indianola, Vintage Hills Cooperative of Indianola is taking reservations for 38 independent-living …

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