Industry News

Boston Properties Inc declared on Thursday that it has acquired a 49.8% interest in an existing joint venture with Teachers Insurance and Annuity Association that owns the fee interests in Colorado Center in Santa Monica, California, for a total gross purchase price of about USD511.1m. Also, the company said that this gross price is about USD503.6m net of credits for free rent, unfunded leasing costs and other adjustments. Also, it has a 49.8% interest in the property without any..."/>
Boston Properties acquires Colorado Center in Santa Monica for about USD511.1m gross
Empire State Realty Trust Inc reported on Thursday that its borrowing capacity under its unsecured revolving credit facility was increased by USD300m to USD1.1bn. Also, the company said that it has the ability to further increase the facility's total capacity to USD1.25bn, with additional exercises of the accordion during its term, which will initially mature in 2019.. A real estate investment trust, Empire State owns, manages, operates, acquires and re-positions office and..."/>
Empire State Realty Trust announces increase of borrowing capacity to USD1.1bn
Assurant Inc revealed on Thursday that it acquired American Title Inc, a title and valuation services provider, for USD45m in cash and with a potential earn-out based on future performance. Further, American Title will operate as part of the company's Mortgage Solutions business, which capabilities include property preservation, appraisal and valuation services. ATI's main business lines include title services, settlement services and valuation for home equity loans,..."/>
Assurant announces acquisition of American Title Inc for USD45m cash
Assurant, Inc. announced today its acquisition of American Title, Inc., a leader in title and valuation services for home equity lenders. American Title will operate as part of Assurant's Mortgage Solutions business, whose capabilities include property preservation, appraisal and valuation services."/>
Assurant Acquires American Title, Leader in Title and Valuation
National Storage Affiliates Trust stated on Thursday that it closed its underwritten public offering of 12,046,250 common shares at USD20.75 per share that includes 1,571,250 common shares issued with the full exercise of the underwriters' option for additional shares at that price less the underwriting discount. Net proceeds of about USD237.7m was received by the company, after the underwriting discount and estimated offering expenses payable, it said."/>
National Storage closes public offering of 12.0m common stock and full exercise of underwriters’ option
Norfolk Southern to pay to settle discrimination case. Norfolk Southern Corp. will pay nearly $500,000 to more than 2,000 African-Americans to settle allegations of race-based hiring discrimination. Department of Labor announced Tuesday that Norfolk Southern will pay 2,086 African-Americans who applied for track laborer and building-and-bridge laborer positions at the company's Roanoke, Virginia, location."/>
Business Briefs: Ex-Unum board member Sen. William Armstrong dies [Chattanooga Times Free Press, Tenn.]
IndusInd Bank Ltd will be the first large firm to announce results on 11 July, as per information made available on stock exchanges."/>
Worry over banks; consumption holds out hope [Mint, New Delhi]
Morgan Stanley, which has estimated that e-commerce sales in India will soar to nearly $120 billion by 2020; UBS Group AG is at the other end of the spectrum, predicting that online retail will rise only to $48-60 billion by that year."/>
So, what's the state of India's online retail market anyway? [Mint, New Delhi]
Lazard Ltd announced today that Jörg Asmussen will join the firm as a Managing Director in Financial Advisory, effective September 1. Based in Berlin and Frankfurt, he will focus on advising sovereign and corporate clients across Europe. Asmussen has more than 20 years of experience in the public sector as an economist and policymaker."/>
Jörg Asmussen to Join Lazard as a Managing Director
Morgan Stanley, which has estimated that e-commerce sales in India will soar to nearly $120 billion by 2020; UBS Group AG is at the other end of the spectrum, predicting that online retail will rise only to $48-60 billion by that year."/>
So what is the state of India's online retail market anyway? [Mint, New Delhi]
Markit, says the world remains mired in the worst growth phase in the last three-and-a-half years. The Markit survey says, "All-industry activity rose in the US, the eurozone, China, the UK, India and Russia."/>
June quarter saw global economic growth at lowest since 2012 [Mint, New Delhi]
CBRE Group. Each year CBRE gives the top 50 technology cities a score based on 13 metrics such as college degrees, tech job growth and the concentration of tech jobs in the workforce. The Bay Area, Washington D.C., Seattle, New York and Austin took the top five spots in..."/>
Report: San Diego comes in 16th for tech talent [The San Diego Union-Tribune]
Bank of America were at odds over what to charge customers for instant, person-to-person payments on a fast-growing bank-owned network called clearXchange. Bank of America offered the service for free, and U.S."/>
U.S. Bank shifts on instant payments, will offer them for free [Star Tribune (Minneapolis)]

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