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Real Estate and Development

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Bargain prices, bold developments marked 2010


Greater Des Moines continued to feel the effects of the collapse in real estate markets in 2010. At the same time, some old stories added new chapters.

The sale of Hub Tower at 699 Walnut …

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Principal releases commercial real estate outlook

Principal Financial Group Inc.’s Principal Real Estate Investors released its 2011 Outlook for U.S. commercial real estate yesterday.

There is reason for optimism, according to the report, as real estate investment firms have performed well …

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Hyatt opens in downtown

The Hyatt Place Des Moines/Downtown hotel is officially open for business.

Hyatt Hotels and Resorts opened the hotel, located in the Liberty Building at 416 Sixth Ave., on Dec. 23.

The 93-room hotel is the …

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REIT buys Park Place

A California real estate investment trust said today that it has bought the 147 rental units at Park Place Apartments, 615 Park St., in downtown Des Moines. The 16-story structure was built in 1986, and …

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EMC completes purchase of Hub Tower

Hub Tower has sold for slightly more than half of its assessed value of $13.2 million, according to a property record filed Wednesday.

Employers Mutual Insurance Co. (EMC) paid $7 million for the 20-story structure …

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Iowa home prices should appreciate in 2011

Home prices in Iowa should appreciate during the next 12 months, according to a report by Santa Ana, Calif.-based Veros Real Estate Solutions.

The company provides a 12-month price forecast on national real estate marketing …

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Virginia auto dealer eyes Lithia-owned site in Urbandale

A Richmond, Va.-based auto dealer plans to build on an Urbandale site that was once slated for a Lithia Motors Inc. dealership.

On Dec. 20, the Urbandale Planning and Zoning Commission recommended that the City …

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Principal Real Estate acquires Houston, San Francisco properties

Principal Real Estate Investors, the property-investment division of Principal Financial Group Inc., has acquired office properties in Houston and San Francisco. Bloomberg reported that Principal Real Estate, the nation’s fourth-largest institutional real estate manager, purchased …

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Lending guidelines could hamper sales of self-storage properties

Investor demand for self-storage facilities is expected to increase next year, but the inability of well-capitalized buyers to finance smaller deals could stop some transactions from taking place.

Inside Self-Storage, an industry trade publication, reported …

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Capp receives Property Manager of the Year Award

Krista Capp, vice president of Hubbell Property Management, an affiliate of Hubbell Realty Co., has received the 2010 Certified Property Manager of the Year Award from the Iowa chapter of the Institute of Real Estate …

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