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Construction Spending Increases Again
The U.S. Census Bureau reported construction spending increased in August to a seasonally adjusted annual rate of $1,983.5 billion, 0.5 percent above the bureau’s revised July estimate.
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CBRE Finds Office Conversions More Than Doubling
CBRE, Dallas, found nearly 100 office-conversion projects are slated to be completed in major U.S. cities this year. That’s more than double the average of 41 per year from 2016 to 2022.
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Dealmaker: Eastern Union Secures $19.6M Construction Loan in Connecticut
Eastern Union, New York, secured a $19.6 million construction loan to support the conversion of a former health care complex into a multifamily property in Bridgeport, Conn.