Nine cities are participating in the NIH We Can! program that aims to curb childhood obesity by incorporating nutrition and exercise programs for families. Boston, Pittsburgh, New York, Las Vegas, Los Angeles, Memphis, Rockford, Ill., Carson City, Nev., and Oak Ridge, Tenn., are the participating cities.
Real-estate developer Robert Maguire III has decided not to press forward with a plan that would restructure the way directors are elected to the board of Maguire Properties Inc. Maguire's board of directors face re-election every year, instead of staggered years, so their positions are vulnerable to pressure from investors such as JMB Capital Partners Master Fund LP, which wants to the REIT to be sold.
Jones Lang LaSalle Hotels predicts 2007 will be the fourth consecutive year of record hotel sales, but huge transactions like Blackstone's $26 billion purchase of Hilton Hotels will not be a trend in 2008. Because of the credit crisis, more stringent lending rules will make it harder for investors to get significant sums needed for "mega deals," said Arthur Adler, CEO of Jones Lang LaSalle's Americas unit.
ING Clarion has acquired Rivermark Village from a joint venture between LNR Property Corp. and Shea Properties for $90.5 million. The 138,000-square-foot shopping center, in Santa Clara, Calif., is anchored by a Safeway grocery store.