The proposed $1.65 billion FutureGen clean-coal project in Meredosia, Ill., recently gained one of its final permits from the Energy Department. "The U.S. Department of Energy's approval of a favorable [record of decision] for the FutureGen 2.0 project advances the project another step forward," said FutureGen Alliance CEO Ken Humphreys. "Issuance of the ROD is an important milestone and a boost to demonstrating fully integrated carbon capture and storage technology at commercial-scale coal-fueled power plant."
Property/casualty insurers have incurred $1.65 billion in losses from 19,870 property claims from the tornado that hit Joplin, Mo., in 2011, state insurance director John Huff says. Overall losses from the tornado could hit $2 billion, Huff says.
The retail community has come through the credit crisis very well, says Michael Glimcher, chairman and CEO of Glimcher Realty Trust. "We didn't see any bankruptcies among national tenants in Q1, which is significant. Also, their balance sheets are much stronger than they have ever been," he said. Glimcher is actively looking at opportunities with its joint-venture partner Blackstone Group.
Statistics from SNL Financial show that nontraded REITs are investing in retail, having made 89 acquisitions in the sector this year. Publicly traded REITs, by contrast, have invested largely in the health care and office sectors.
Analysts with Prudential Real Estate Investors say they are "relatively optimistic" about the market for office, retail, apartment and hotel real estate, saying that the market has bottomed faster than during the 1990s downturn. In Washington, D.C., buyers took 1 million square feet of space off the market in the second quarter, and office properties are selling.