2013 Land Rover Range Rover The luxury SUV heavyweight now treads more lightly.

So what you really  want to know is how it feels to drive a Range Rover with nobody in it. Compared with the outgoing Range Rover, that’s how this new one should feel: empty, unladen. By building what it describes as the world’s first SUV with an all-aluminum unibody, Land Rover has cut a claimed 700 pounds from its flagship; that’s the mass of five average-size Europeans or 4.1 Americans.
Can you feel the difference? Definitely. This new model is a milestone in industry efforts to arrest the death-spiral of ever-increasing weight, complexity, and consumption that has afflicted the SUV more than most. Automakers’ hands might have been forced by public opinion and fierce governmental fuel-economy and emissions rules, but let’s not argue with the result: better cars for us to drive. And few demonstrate the myriad benefits of making a vehicle lighter and stiffer as dramatically as Land Rover has with this new Range Rover.
Although ownership now rests with India’s Tata Motors and the very element from which it’s crafted has changed, this remains a Range Rover, true to a clear, bright set of styling and engineering principles that have been followed consistently since 1970. Successfully, too. In its last full year of production, the 10-year-old outgoing model defied the usually immutable laws of automotive sales gravity by posting an astonishing 21-percent global sales increase.
Land Rover wasn’t going to mess with that formula, and it hasn’t. Despite the diet, it’s still the ultimate luxury off-roader—dispatching challenging terrain, dispatched to nights at the opera. And it still hews to design attributes that have always made driving one a distinctive experience: the throne-like, command driving position; the squared-off, castellated front corners; the clamshell hood; the side gills; and the flying body-colored roof.
It’s all there in the new one, of course, and it looks good in aluminum. But the styling—overseen by design director and chief creative officer Gerry McGovern—doesn’t have quite the impact of the previous model, either by comparison with its peers or in its simple physical presence. The old car looked as bluff and upright as the White Cliffs of Dover. Here’s a gentler, softer, more sculpted, less arrogant Range Rover. It’s also the most aerodynamic version ever, though that’s hardly saying much.

Law Firm Office Expansions Occurring in Asia and North Africa, Driven By High-Growth Economies

Tom Carroll

According to Jones Lang LaSalle's Global Law Firm Perspectives 2012, strong economic growth in emerging markets is driving law firm office expansions across the Asia Pacific and Africa regions.

"Law firm real estate trends vividly illustrate current global economic polarization," explained Tom Carroll, Director - Corporate Research, Jones Lang LaSalle. "While firms focus their sights on high growth emerging markets in Asia and Africa, a tenant favorable market will continue in North America and much of Europe for quite some time."

The JLL report reveals the following key worldwide legal industry real estate trends:

• A Return to growth via economic cross pollination - Larger multi-national firms are breaking their years of caution, as emerging market expansion returns to the agenda. Growth in emerging markets is driven by firms based in mature markets such as the U.S. and Western Europe, which want to be geographically aligned with the high growth economies in the Asia/Pacific, Middle East and Africa regions. For example, the growth of Western business interests in China has spurred law firm growth in Beijing, Shanghai and Hong Kong.

• Corporate outsourcing driving demand - Multi-national corporations are outsourcing more legal work, driving demand for legal services typically provided from low-cost locations.

• Law firm M&A shaping cities - Western law firms are partnering with local firms in emerging markets to serve expanding corporate clients, while cross-border M&A activity is also on the agenda.  For example, in Morocco, Bird & Bird formed an alliance in Casablanca with El Amari & Associes, a legal services provider. Additionally, a cluster of M&A activity has occurred with Australian firms as U.S. and U.K. firms seek to expand their presence in the region.

• Germany progressing - Emerging as an IP litigation center and continuing its economic leadership, German cities like Hamburg and Munich are welcoming new firms and office expansions.

• New workplace strategies: lease expirations drive focus on productivity - In North America and Europe, firms are using less office space per attorney, deploying new workplace strategies designed to drive productivity and efficiency, often prompted by lease expirations.

Variable Rental Rate Cycles

"In global markets, law firm rents are influenced more by overall market conditions than by legal industry trends," explained Carroll. "Many markets are recovering economically, but still offer low rents because the market cycle has yet to drive rate increases."  Incentives (or lack thereof) can vary from market-to-market as well.

For example, consider the following contrasts:

• In Hong Kong, tenants are incentivized with an average of 2-3 months' free rent; in Tokyo, the number is 9-12 months free.

• In Melbourne, where the Class A vacancy rate sits at a comparatively low 6 percent, average prime gross rents come in at A$517 per square meter. Yet in Sydney, with a higher 9.3 percent Class A vacancy rate, rents remain much higher than Melbourne's at A$925 per square meter, thanks in part to higher underlying property values.

Richard Proctor

"Rents are highly variable city-to-city, even within the same region or country," said Richard Proctor, Head of Central London Tenant Representation and Lead Director, EMEA Law Firm Practice, Jones Lang LaSalle. "Firms can find deals where rents are just beginning to rise, but remain close to the market bottom. It is critical for law firms to apply their forensic skills to their real estate portfolios to achieve an optimal outcome."

Tenant mix influences market trends

"'As go law firms, so goes the office market' is a sound guiding principal for North America," explains Elizabeth Cooper, Jones Lang LaSalle International Director and co-chair of the firm's law firm practice. "In contrast, anchor tenants in Europe, Asia and North Africa are more likely to be corporations, so law firm trends are not market-movers in quite the same way." In the U.S., law firms lease, on average, more than 15 percent of Class A office space in urbanized markets. In contrast, only two cities outside North America show law firms leasing more than 10 percent of Class A office space in the central business district."

The study, an annual barometer of law firm real estate trends around the world, characterizes a performance gap between advanced and emerging economies-and a renewed interest from large law firms in bridging that gap.

Investors See Bargains in Depressed Greek Real Estate

Athens, Greece

Real estate, and especially commercial real estate, is beginning to play a strong role in the economic recovery of Greece, according to brokers, bankers and consultants in Athens and London.

One big reason is the coalition government led by conservative Prime Minister Antonis Samaras that came to power in June has impressed some investors. Samaras promised to do everything needed to keep bailout funds flowing, easing fears of bankruptcy and leaving the Euro zone.

Even German Chancellor Angela Merkel, who calls the shots on bailout programs for sick Euro zone members, has eased her former position on allowing Greece to default on its debt.  Other Euro zone members may be following Merkel's position.

Dimitris Manoussakis, head of the Athens office of real estate consultant Savills, recently told the media the Greek government's new stance in selling state assets, including real estate as a condition of its bailout over the next several months, may start to convince some investors they will be getting a fair price on property transactions.

Greek investors, especially those living abroad, are becoming interested again in commercial property like hotels and retail, with demand even coming from the US, South Africa and Australia. Six months ago, that same interest was lacking, according to global real estate analysts.

Those potential investors are eyeing bargain prices as their incentive to step back into the market. Those same investors, however, abandoned the country when its economy was faltering and took much of their cash with them.

Reuters reported Kostas Kazolides, a London-based investor who has been investing in and advising on property deals in Greece and Cyprus for 35 years, recently said "There are deals that (once) didn't make sense but do now as the outside world takes the government more seriously."

He added, "People are talking about going back in and buying. There are villas in Mykonos going at 30 percent of their value because sellers are feeling the pinch." A 30 percent fall in construction costs was another incentive.

Data from Lipper, a Thomson Reuters company that tracks the funds industry, shows the amount of money flowing out of Greek equity funds is slower in 2012 than previous years and turned positive in August.

Federal Suit Alleges Bank of America 'Hustled' U.S. Agencies for Billions

Bank of America, no stranger to billion-dollar lawsuits, today faces another one - a $1 billion suit from the Justice Department.  The Oct. 24 complaint alleges the New York City-based bank fraudulently sold defective mortgages to Fannie Mae and Freddie Mac that triggered over $1 billion in losses for taxpayers and thousands of foreclosures.

The suit alleges the fraud was committed from at least 2008 through 2009.

In a prepared statement, the Justice Department said this is the first case involving Fannie and Freddie, which were the major purchasers of mortgage securities from commercial banks like Bank of America.

Huge mortgage losses at Fannie Mae and Freddie Mac forced a government takeover of both in September 2008. The two government sponsored enterprises (GSEs) were placed into federal conservatorship.

In his statement, Preet Bharara, U.S. Attorney for the Southern District of New York alleges Bank of America's fraudulent scheme was commonly known inside the bank as "the Hustle."

The suit alleges "the Hustle" was a nickname for the bank's "High-Speed Swim Lane," or HSSL program, designed to streamline the mortgage origination process. Instead, the government alleges it was "intentionally designed to process loans at high speed and without quality checkpoints, and generated thousands of fraudulent and otherwise defective residential mortgage loans."

The government says the program was started by mortgage lender Countrywide Financial, but continued after Countrywide was purchased by Bank of America in 2008. The fraud ran through 2009, the suit alleges.

"For the sixth time in less than 18 months, this office has been compelled to sue a major U.S. bank for reckless mortgage practices in the lead-up to the financial crisis," Bharara said in his statement. "The fraudulent conduct alleged in today's complaint was spectacularly brazen in scope."

Bank of America (NYSE: BAC) agreed to an $8.5 billion settlement last year in which it paid other investors burned by fraudulent mortgage securities. Those investors included money manager BlackRock (NYSE: BLK), insurer MetLife (NYSE: MET), investment management firm PIMCO and Goldman Sachs (NYSE: GS)

German Office Property Sales Up 50% in Last Nine Months

A relatively stable economic and employment status in Germany has generated office property sales of $8.22 billion (6.27 billion euros) over the last nine months, according to data researched by BNP Paribas SA's German real estate division.

In a prepared statement, the Paris-based bank said the sales surge was 50 percent higher than the comparable 2011 period and more than posted sales for all of the last five years. Berlin and Munich were investors' favorite buying locations.

The BNP statement noted office investments rose 172 percent in Berlin and 138 percent in Munich, Germany's most expensive city for workplace properties. But investments in Hamburg, Cologne and Dusseldorf declined.

"Safety-oriented investors see good conditions here due to the relatively stable economic and employment situation," Sven Stricker, head of investment at BNP Paribas Real Estate GmbH, said in his company's statement.  "Office investments have a good medium-term outlook, assuming the euro crisis doesn't escalate."

Investors are seeking a safe haven as they fear the euro zone's sovereign-debt crisis will worsen, Stricker said.

The German government predicts the country's economy will grow 0.8 percent this year. The German economy is Europe's largest. The economies of the 17 nations that share the euro are together forecasting a contraction of 0.4 percent, according to the European Central Bank

Outdoor Recreation' States Remain Top U.S. Travel Destinations; Gambling and Sports Related Travel Down in 2012

While the most popular U.S. states retained their tourist appeal this year ( Florida, California, Hawaii, N.Y. and Alaska) among American travelers, the allure of several other domestic destinations has increased.

For example, Louisiana, Michigan, Oregon and Washington, D.C., were the beneficiaries of increased tourism, while states like Alaska, Hawaii, Arizona and Tennessee saw slight decreases in interest.  At least that's what travel experts at MMGY Global/Harrison Group learned during their newly released survey, "2012 Portrait of American Travelers."

Meanwhile, many destinations that feature outdoor recreation now enjoy a statistically significant rise in interest - namely mountain areas such as the Utah mountain resorts, Lake Tahoe (Calif. and Nev.), Gatlinburg (Tenn.), and Pocono Mountains (Pa.). Coastal spots like the Mississippi and Florida Gulf coasts, Atlantic City (N.J.), the Outer Banks (N.C.) and South Carolina shoreline also showed rising tourism interest.

According to MMGY/Global Harrison Group, other destinations with rising popularity are those that offer unique visitor experiences such as historic Colonial Williamsburg (Va.) and St. Augustine (Fla.), wine-focused Napa Valley and Sonoma Valley (Calif.) and glitzy hotspot Las Vegas (Nev.).

International destinations with rising interest in visitation include Africa, the Middle East and Oceania (Australia, New Zealand and Pacific Islands, etc.). However, fewer U.S. travelers are interested in international trips overall, dropping to nine percent of all leisure travelers today compared with 11 percent last year.

2012 Buick Verano Review

This 2012 Buick Verano review will provide you with some of the features and specifications of this new car, in order to help you decide if this is the 2012 car that you should invest in.
First and foremost, the 2012 Buick Verano is available in three different trim levels, which starts with the Base Model, then the Convenience Group 2, and finally the Leather Group. The Base Model is equipped with IntelliLink smartphone connectivity by Buick; auxiliary audio jack; iPod/USB interface; satellite radio; 6-speaker sound system and CD player, along with OnStar telematics; Bluetooth (audio streaming and phone); touch screen display (7-inches); telescoping and tilt steering wheel; spilt folding rear seats; cloth upholstery; auto climate control (dual zone); full power accessories; remote ignition; keyless entry; cruise control; fog lights; and alloy wheels (18-inches).
On the other hand, the Convenience Group 2 features: driver’s seat that is power adjustable; auto dimming rearview mirror; sensors for rear parking; and side view mirrors that are heated. The Leather Model is equipped with: 9-speaker Bose audio upgrade; leather upholstery; heated front seats; heated steering wheel; and keyless entry/ignition. You have the option of adding a navigation system or sunroof; however, these options are not available on the Base Model.

2012 GMC Yukon Hybrid Review

Like Germany, Home Prices Al

Chevy Tahoe Hybrid and its counterpart the GMC Yukon Hybrid were the first automobiles to use the innovative two-mode powertrain hybrid industrialized together with General Motors followed by BMW and the past DaimlerChrysler. This SUV that is full-size launched a new class of larger automobiles that are considerably greener than the versions that are gas-powered.
Presented with either four or two wheel drive, two trim levels are available. The foundation Yukon Hybrid the 2WD model price has a starting of $51,610; the 4WD starts at $54,420. The Yukon Denali Hybrid 2WD is lavishly appointed and it starts at $58,925 and $61,770 for the 4WD. There are no major changes to the Yukon Hybrid for model year 2012, the only changes were a radio that has a USB port, the ability to record broadcast audio an and updated touch-screen navigation.
Powertrain
The GM’s 6-liter Vortec V8 with a technology that deactivates the cylinder is the core of Tahoe Hybrid’s powertrain. In simpler terms, what the engine does is shut down from four up to eight of its cylinders when it senses that the added power is not required. This is a fuel saver. Further from the engine, below the second-row seats you find a 300-volt battery that is hidden. Within the transmission the automobile’s two electric motors are housed.

This hybrid system is capable of running in one of two detached modes which contribute to the vehicle operating at peak efficiency, hence “two-mode hybrid” as the name suggest. Low-impact driving, for low-speed, the powertrain works similar to other hybrids; which means it halts the gasoline engine where feasible so that it can draw power from either both or one of its electric motors. Commonly for highway driving the second mode is mostly used, and at this time both or one electric motors may run simultaneously alongside the V8 engine so as to provide a boost to power. The key to the entire system is the two-mode transmission, which tries to sustain the engine operating at the rpm’s optimum for low fuel use. Basically, it accomplishes a harmonizing act between the electric motors and the engine. Also it is accountable for keeping the transitions practically seamless between the two modes.
This entire advance in technology has resulted in an improvement of 25-percent in the economy’s overall fuel above the gas-powered Yukon hybrid’s counterpart. 40-percent improvement in city driving is even more impressive.

Like Germany, Home Prices Also Rising in Austria

Austrians, wary of the Eurozone financial crisis, are placing their bets and their money these days in residential real estate. Like neighboring Germany, prices are rising in Austria, especially in the fabled city of Vienna.

Select Property, an international residential broker based in London, notes the outskirts of Vienna have shown an increased demand for property which is driving up the prices.

"People know that they can get a larger property with more living space for the same amount of money that you would pay for something much smaller in the city," according to the brokerage.

This has made for some dramatic increases in prices with apartments in Wiener Neustadt rising by 25 percent year-on-year and houses in Korneuburg increasing by an average of 17 percent.

The Mariahilf district in Vienna saw the average price per square meter rise to €4100 a rise of 16 percent.

Buy-to-rent property investors will also benefit from the slight increase in rental prices, which rose by 1.6 percent for the first six months of the year on an annual basis, the brokerage says.

Other areas which saw real estate price increases were Penzing where prices rose by 35 percent against 2011 and the suburban areas saw rises between 10 and 30 percent.

Select Property's Alexander Ertler said: "The fear over losing money through inflation and mistrust in the financial markets is encouraging increasing numbers of Austrians to invest and try and find security in the property market."

Financing, Eurozone Troubles Slow Real Estate Investments in Romania

Bucharest, Romania

Commercial real estate transactions in Romania are almost nowhere to be seen. CB Richard Ellis reports two first-half deals were valued at EUR 55 million ($70.3 million U.S.) That valuation was the lowest in Romania in the past six years.

The two transactions were the sale of the Nokia plant in Cluj to household producer De†Longhi, and theTimisoara-based City Business Center compound, acquired by the South African-registered investment fund NEPI.

Romania still remains an attractive market in terms of real estate transactions but the lack of financing and the Euro zone turmoil "have raised the investment risk and quelled investment appetite," reports The Diplomat Media Group in Bucharest .

In the Central and Eastern Europe (CEE) region, Russia and Poland registered the highest investment volume.

Office segment yields in Romania stabilized to 8 percent, while retail notched up 8.75 percent for commercial centers and 10.25 percent for storehouses, according to CBRE.

By comparison, in Warsaw, prime yields in office are at 6.25 percent, while on the industrial segment the figure is 7 percent. Retail in the Polish capital has an estimated prime yield of 6 percent. Similar values are registered in Prague and Budapest.

In the first half of 2012, Russia posted over EUR 900 million of transactions and Poland over EUR 800 million. The Czech Republic, in comparison, saw a transaction volume of EUR 180 million at six months. (1 euro = $1.2785 U.S.)

Residentual-Home-Construction.jpg Homebuilders across the U.S. are happy today, and for good reason. According to newly released stats from HUD and the U.S. Census Bureau, sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September. This is the fastest sales pace recorded since April of 2010. "Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today's data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today's exceedingly stringent guidelines."

Homebuilders across the U.S. are happy today, and for good reason.

According to newly released stats from HUD and the U.S. Census Bureau, sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September. This is the fastest sales pace recorded since April of 2010.

"Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today's data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today's exceedingly stringent guidelines."

2012 Jaguar XK Review

Jaguar is a self defined brand which is a synonym for perfection, opulence and grandness. The 2012 Jaguar XK review will give you an insight over the changes of the latest version of the car. Once you take a look, this automobile is pretty big, sharp and has well defined curves which can even put human body to fall in shame. A 5.0L AJ-V8 engine complements its racy look and well to do interiors.
The 2012 Jaguar XK review also includes the physical appearance and other signs. The model has the iron covers in the exchange for the aluminum, and the horsepower from 385 to 510. The jaguar XK can be changed by the six speed, automatic Paddle shift and it goes from 0 to 60 mph in 4.2 seconds. Its economy is enhanced by the light aluminum body which also marks the best for this type of car.
The 2012 Jaguar XK Review is the first thing to be read when the new or advanced version is out. Different from the last version the cars interior makes you feel the luxury and comfort of the Jaguar cabin. You can have 11 different types of alloy wheel in size of 18 to 20 inches. The car provides an optional side graphics and incorporates Spray Guided Direct Injection and Dual independent cam timing.
This version has fuel mapping and revised active exhaust which further enhances the powerful drive of the Jaguar. Its top speed is 186mph and has high efficiency by emitting only 292 g/km of CO2. The gear box is the six speed automatic box which steering buttons to handle and control other sequences in the car. This has the latest technology of the adaptive dynamic strategy which contradicts the traditional trade off between the ride and the handling of the car.
The interiors are pretty smooth and absolute luxury. Great space and must have climate control, sun control and rear window power buttons; it is all inclusive of the monitoring of wheel position every second, the driver can shift the mode with dynamic mode to increase control and reduce gear shift times. The 2012 Jaguar XK review also tells you about its active differential control technology which helps to drive the car with precision and keep a control at the edges but also at the middle.
The car interiors are done with carbon pattern leather with contrast stitches. it has central seven inch touch screen is equally interactive and helps the driver to connect via the Bluetooth, USB connectivity and satellite navigation. Truly, it has a class of its own!

2012 Hyundai ElantraThe Elantra was completely redesigned last year, getting rid of its unattractive, non-descript style, and now looks so much more attractive with its coupe-like roof line and its fluid curves. It now really looks good; like a car you would be very proud to own. Albeit looks are important in a car; this 2012 Hyundai Elantra review will look at more than just the visuals of the car, but also on how it functions and performs. The 1.8 litre engine is quite powerful for this class of vehicle, and it comes with extremely good fuel economy that its counterparts have to add high-efficiency packages to achieve. The even better news is that the 2012 Hyundai Elantra comes with still more improvement with respect to its fuel economy with their new system called the Active Eco. When this mode is selected by the driver, the car’s automatic transmission shift points and throttle response are attuned to improve the fuel economy by about seven percent. Consequently though, the vehicle is now a little slower when the mode has been selected. The cabin’s interior comes with a bold dashboard design, as well controls that are very simple to use. Albeit they do not have the finest quality materials overall, the materials that are used in this vehicle is still of great quality. The cabin is spacious, and there are many options available for the consumer that helps with the comfort of the car. There are also a number of electronic features as well. The 2012 Hyundai Elantra is quite well-built, fuel efficient, comfortable, attractive, very equipped, and also has a great warranty as well. Albeit competitors such as Honda Civic, Mazda 3, Focus and Chevrolet Cruze offer consumers very good choices, we still endorse the Elantra as the top choice in its class. On addition to the foregoing, the 2012 Hyundai Elantra also comes with fifteen inch steel wheels, heated mirrors, keyless entry, full power accessories, a trip computer, a sound system that has 6 speakers with a CD player, a satellite radio, as well as an auxiliary audio jack, the height-adjustable driver’s seat, a sixty/forty split-folding rear seat. 2012 Hyundai Elantra rear back2012 Hyundai Elantra interior With the GLS comfort package, there are sixteen inch steel wheels, solar glass, air-conditioning, tilt and telescoping steering wheel. In addition, when it comes with an automatic transmission, it also comes with Active Eco System. The proffered package comes with alloy wheels of sixteen inches, upgraded interior trim, illuminated vanity mirrors, Bluetooth, fog lamps and sliding front centre armrest.

The Elantra was completely redesigned last year, getting rid of its unattractive, non-descript style, and now looks so much more attractive with its coupe-like roof line and its fluid curves. It now really looks good; like a car you would be very proud to own.
Albeit looks are important in a car; this 2012 Hyundai Elantra review will look at more than just the visuals of the car, but also on how it functions and performs. The 1.8 litre engine is quite powerful for this class of vehicle, and it comes with extremely good fuel economy that its counterparts have to add high-efficiency packages to achieve. The even better news is that the 2012 Hyundai Elantra comes with still more improvement with respect to its fuel economy with their new system called the Active Eco. When this mode is selected by the driver, the car’s automatic transmission shift points and throttle response are attuned to improve the fuel economy by about seven percent.  Consequently though, the vehicle is now a little slower when the mode has been selected.
The cabin’s interior comes with a bold dashboard design, as well controls that are very simple to use.  Albeit they do not have the finest quality materials overall, the materials that are used in this vehicle is still of great quality.  The cabin is spacious, and there are many options available for the consumer that helps with the comfort of the car.  There are also a number of electronic features as well.
The 2012 Hyundai Elantra is quite well-built, fuel efficient, comfortable, attractive, very equipped, and also has a great warranty as well. Albeit competitors such as Honda Civic, Mazda 3, Focus and Chevrolet Cruze offer consumers very good choices, we still endorse the Elantra as the top choice in its class.
On addition to the foregoing, the 2012 Hyundai Elantra also comes with fifteen inch steel wheels, heated mirrors, keyless entry, full power accessories, a trip computer, a sound system that has 6 speakers with a CD player, a satellite radio, as well as an auxiliary audio jack, the height-adjustable driver’s seat, a sixty/forty split-folding rear seat.

With the GLS comfort package, there are sixteen inch steel wheels, solar glass, air-conditioning, tilt and telescoping steering wheel.  In addition, when it comes with an automatic transmission, it also comes with Active Eco System. The proffered package comes with alloy wheels of sixteen inches, upgraded interior trim, illuminated vanity mirrors, Bluetooth, fog lamps and sliding front centre armrest.

Wyndham to Open First Hotel in Bahrain

Wyndham Grand Manama, Bahrain

Bahrain is getting its first Wyndham Hotel. The new five-star Wyndham Grand Collection hotel will be part of a 50-story mixed used architectural landmark in Bahrain Bay.

Bahrain Bay Development B.S.C. is a $2.5 billion waterfront district designed around vibrant neighborhoods of residential, commercial and retail spaces.

Set in this unique new development, the Wyndham Grand Manama will face the World Trade Centre, just a short distance from Bahrain Financial Harbour, making it well placed to cater to business as well as leisure travelers.

Wyndham Hotel Group recently confirmed plans for the first Wyndham Grand property in Bahrain following the signing of an agreement with Cooperation Investment House SPC to manage its prestigious  hotel  property.

Currently under development in the city of Manama, the Wyndham Grand Manama is expected to open by the end of next year with more than 260 spacious guest rooms ranging from 46 to 120 square meters (approximately 495 to 1,290 square feet). Covering 14 floors of a 50-story mixed use development, it will also comprise 500 square meters (nearly 5,400 square feet) of meeting space and a 900-square-meter ballroom (equivalent to nearly 9,700 square feet) on the building's top floor, offering stunning sea views.

Complemented by indoor and outdoor infinity swimming pools and separate health clubs for men and women, the development will also include five food and beverage outlets catering to a variety of tastes.

Upon opening, the hotel will join the Wyndham Grand Collection, an ensemble of distinguished hotels within the upscale Wyndham Hotels and Resorts brand. Wyndham Hotel Group, the world's largest hotel company with over 7,170 hotels, is part of Wyndham Worldwide Corporation (NYSE: WYN).

 "This is an incredibly dynamic and exciting development," said Bani Haddad, regional vice president Middle East & Africa, Wyndham Hotel Group. "Each Wyndham Grand hotel takes in some of the flavor of its destination and this modern, cosmopolitan setting will be reflected in the hotel along with historical Bahraini influences. It is a fantastic setting and a great property for this distinguished collection."

The Wyndham Grand Manama will face the World Trade Centre, just a short distance from Bahrain Financial Harbour, making it well placed to cater to business as well as leisure travelers.

"We are delighted and honored to work with Wyndham Hotel Group on the first Wyndham Grand hotel in Bahrain," said Ahmed AlQaed, managing director, Cooperation Investment House SPC. "By combining the Wyndham brand's authentic hospitality and high-quality service with modern corporate office spaces in one magnificent development at this prime location, we believe we are creating the best tourist and business destination this area will offer."

This will only be the third Wyndham Grand in Europe and the Middle East. The other two properties are the Wyndham Grand Regency Doha in Qatar and Wyndham Grand London Chelsea Harbour in the U.K.

Coeur D'Alene, a Paradise in the Panhandle

The Coeur D'Alene Resort sits at the foot of the lake. (Photo courtesy Coeur D'Alene Chamber of Commerce)

Coeur D'Alene is special. And you can see it the moment you turn off Highway 90 from Spokane.

To your left lies a little town with cobbled sidewalks and gas-lit streetlamps and green awnings and red-brick storefronts, behind which lie attractive little shops, eateries, and galleries. In front of you, shooting up into a clear azure sky, lies Coeur D'Alene Resort, one of the Northwest's premier resorts. And to your right lies an ice-blue alpine lake, from which rise 7,000 foot- mountains covered in deep-green forest.

Tucked up in the Idaho Panhandle, about 90 miles south of Canada, Coeur D'Alene is one of the prettiest towns in the Northwest. And the lake upon which it sits - Lake Coeur D'Alene - has 125 miles of shoreline.

Coeur D'Alene means "Heart of the Awl," a reference by early French traders to the earrings worn by the native Salishan people. And the Heart of the Awl is situated amidst a setting that no doubt took these French traders' breath away.

More than 125 miles of bays and inlets...(Photo courtesy Coeur D'Alene Chamber of Commerce)

On a sunset cruise with Lake Coeur D'Alene Cruises, you'll explore quiet bays and lagoons, some with magnificent, Western mansions several stories high. And you'll see the sun go down - not until after ten in summer - behind mountain ridges that it sprinkles with reds and purples and oranges and pinks.

At the foot of downtown is Tubbs Hill, a mini-mountain jutting out into the lake, which seems to offer stunning views around every turn. People come here to hike, rock-climb, picnic on one of the ledges overlooking the lake, row, sail, canoe, or kayak. And speaking of kayaking, if you take one out, you'll see bald eagles and ospreys flying overhead. And you'll explore isolated little coves where the only sound is that of your oars.

There are some cool surprises in this small town. . For example, Northern Idaho is not a place you'd associate with great olive oil - which makes a visit to Coeur D'Alene Olive Oil Company all the more interesting. And Coeur D'Alene Cellars produces distinctive syrahs, cabernet sauvignons, and chardonnays, all of which you can sample at their Barrel Room #6, an atmospheric wine bar that also serves local micro-brews.

About a half-hour outside of town is one of the most unusual mountain-biking experiences in the world. Situated in the Bitterroot Mountains at the Idaho-Montana border, at the Lookout Pass Ski Area, "The Route of the Hiawatha" is a long-abandoned railroad track (named after the "Hiawatha," which ran from the Northwest to Milwaukee) through a series of tunnels and 1,000-foot high wooden trestles. The longest of the ten tunnels is almost two miles long...and you can't see more than a foot or two in front of you! (In fact, you have to be looking very carefully even to see the Idaho/Montana marker on the border.) When you're out of the tunnels, and riding on the old wooden trestles, you'll see spectacular views deep into Montana.

The Route of the Hiawatha (Photo courtesy Coeur D'Alene Chamber of Commerce)

After your adventure, you can relax back in your room at the Coeur D'Alene Resort...which probably has a breathtaking view of the lake. Newly-renovated, the resort has luxurious guestrooms, three good restaurants and an elegant bar, and, believe it or not, a float-plane service operating from its dock (as well as the aforementioned Lake Coeur D'Alene Cruises). The Coeur D'Alene Resort also boasts a golf course (accessible by mahogany boat) with the only movable floating green in the world.

When you look out your window at the resort, you'll know why the owners of those Western mansions built homes here.

2012 Volvo XC90 Review

A vehicle that places the priority on comfort, safety and passenger space over off-road capabilities is the luxury crossover, the 2012 Volvo XC90.  The vehicle is packed with features and it can accommodate as much as seven; however, it has an interior look that is quite dated as well as lackluster fuel economy, these drawbacks cause is not to be leading in its class in every respect.
The XC90 from Volvo was among the very first luxury crossover that was carlike when it reached the market in 2003; however, the appearance has not changed a great deal ever since that time.  Except for one slight refresh, the vehicle carries through with its broad-shouldered, smooth exterior design that still looks great from a distance.  Inside of the XC90 is looking rather dated given that it is representative of Volvo’s design direction prior to it going for layouts that are more minimalist as well as thin panel controls, which you will discover in the XC60 and S60, among others models.
The Volvo XC90 executes as well as you may be expecting from a crossover that is family-oriented; there is lots of power provided by the 3.2 liters six-cylinder engine, the six-speed automatic as well as the 240-horsepower and it is quite impressive.  However, the Volvo XC90 is just not a great deal fun to drive; mostly it is as a result of the detached feeling of the steering wheel, even though fast movements are safe and sound.

The 2012 Volvo XC90 is equipped with three rows of seating, it can accommodate as much as seven and it is a good substitute for either a minivan or the SUVs that are more truck-like.   Volvo has developed a reputation for exceptional seats and that has been carried over in the XC90; the seats are comfortable, supportive and worthy to drive around in all day.  The third row of the XC90 can be difficult to get to for adults, the smallest kids will have no trouble though; however, the second row has a comfortable feel and it is shaped for adults.  The seating position for everyone feels a bit more carlike and relaxed in comparison to that of other crossovers.  If the third row is kept down, generally you will have a whole lot of space for bigger grocery runs.  The ride quality is outstanding since there is less side-to-side motion and pitchiness than in a number of other crossovers.

2012 Suzuki Grand Vitara Review

n this 2012 Suzuki Grand Vitara review, you will be provided with some of the details of this newly released vehicle. The 2012 Suzuki Grand Vitara features a 4-cylinder, 2.4 liter inline that is capable of producing 162 pound feet of torque and 166 horsepower. All of the base models feature a 5-speed manual transmission, while the other versions have a 4-speed automatic transmission. All the vehicles in the lineup have RWD as standard; however, 4WD is on all the trim levels, with the exception of the base. On the Limited Edition, the 4WD also includes low range gearing.
In the test of the performance of the Grand Vitara, the RWDs took 10.2 seconds to achieve 60mph. The estimates of the EPA for the fuel economy of the Grand Vitara are less than the best. The RWD models had an estimated 22mpg highway, 19mpg city and a combination of 22mpg; on the other hand, the 4WD models returned 23/19/20.
This 2012 Suzuki Grand Vitara review will now cover some of the features of this new vehicle:

• Safety – The Grand Vitara has standard safety features such as: side airbags for the front seats; side curtain airbags (full length); antilock disc brakes; and traction and stability control. In testing, the Grand Vitara only required 110 feet to make a stop from 60mph.

• Special Features and Interior Design – The 5-passenger interior of the Grand Vitara is rather attractive; however, it seems somewhat outdated when compared to the other cabins of most of its competitors. The controls and the gauges are very easy to read and are also well place; however, the removable navigation system is somewhat out of reach. Additionally, it is a bit difficult trying to read and operate the navigation screen, as it quite smaller than most units that are built-in.

• Even though there is sufficient amount of room for you to stretch out in the Limited Edition, the cloth upholstery of the Premium models is a lot more comfortable than the leather upholstery found in the Limited model. Another one of the disadvantages of the 2012 Suzuki Grand Vitara is the lack of space to store small items such as MP3 players and cell phones.

• Driving Impressions – The 2012 Suzuki Grand Vitara is a great choice for your daily errands and commuting; however, the firm seats can become tiresome and uncomfortable if you are travelling long distances. Additionally, the handling is not as stable as some of the other newly released 2012 vehicles.

Washington D.C. Office Market Affected by Political Uncertainty, Yet Still Relatively Strong

The Washington, D.C. metro area continues its economic expansion, but at a slower pace than in prior expansion periods, according to a third quarter 2012 office market/economic report put out by Delta Associates and Transwestern. This slower growth is due partially to the uncertainty associated with possible sequestration and the end of Bush Era-tax cuts, tentatively scheduled for January, 2013, according to the report. 

In spite of fears about possible sequestration and the ending of tax cuts, there is continuing growth in the Washington metro, because of the strength of the regional economy, according to the Delta Associates/Transwestern report. Among those strengths are a highly-educated workforce, economic diversity (compared to the 1970s when there was more dependence on the federal government), growing technology and healthcare  industries, a strong housing market with sustained values and a plethora of corporate  and association headquarters, many of which have moved into the area in the past five years, says Elizabeth Norton, senior vice president and Mid-Atlantic research director at Delta Associates.

Regardless of these strengths, however, the Washington, D.C. area saw a payroll employment increase of only 24,300 in the 12 months ending July 31st, compared to a long-term annual average of 39,800. These statistics contrast with job growth during a typical expansionary period of 60,000 to 80,000, making this past year's job growth look anemic by comparison. Still, the unemployment rate for the Washington metro was 5.6% in July 2012, down from 6.0% the year before. This compares to the national rate of 8.3% in July 2012. The national rate went down to 8.1% in August 2012.

The Washington metro area office market had negative net absorption and a rising vacancy rate during the first three quarters of 2012, because demand was not enough to offset tenants vacating space, according to the Delta/Transwestern report. This was the result of several factors, including Base Realignment and Closure ( BRAC) Commission-related tenants moving out of privately-owned office space into government-owned space in addition to the fears about sequestration. Plus, many other kinds of tenants are consolidating and/or downsizing their operations.

"We expect the share of government leasing to remain limited for the foreseeable future, as Congress scrutinizes any large lease deals and agencies are forced to do more with less," although private sector leasing should gradually start to rise, according to the Delta Associates/Transwestern report. But significant growth in demand will not be felt until 2014 or 2015, when there will be more need for Class A space, says Norton.

Meanwhile, some General Services Administration (GSA) tenants are relocating to military bases, a trend that will be "continuous for the next handful of years," says Norton. Military bases are owned, rather than leased, which saves money for the government.

Johannesburg Fund Raises $250 Million for Mixed-Use Projects in Nigeria‚ Ghana and Angola

In an unprecedented move, Johannesburg-based RMB Westport, South Africa's second-largest financial-services company, announced the property unit of its investment banking arm has raised $250 million to develop real estate in West Africa.

The initial sites will be in Nigeria, Ghana and  Angola. Retail and mixed-use development will be the primary objective. Africa currently has strong demand for high-grade retail and commercial properties, according to Independent Online, a division of Independent Newspapers (Pty) Ltd. based in Cape Town, South Africa.

RMB Westport opened its doors in 2008 when Rand Merchant Bank (RMB)‚ through its Real Estate Investment Banking division entered into a joint venture with the Westport Property Group.

In an e-mailed company statement to the media, Michael O'Malley‚ Director of RMB Westport, said his company "believes in the African growth story. Over the past decade‚ African economic output has more than tripled‚ which is one of the many reasons we think that Africa today holds the greatest overall investment potential for all frontier markets globally."

O'Malley says the discovery of oil in Ghana will probably lead to a further increase in investor interest and subsequent demand for office and industrial space in West Africa. O'Malley has spent the past 20 years working on retail and mixed-use projects in 12 African countries.

RMB Westport is no newcomer to Africa. Some of RMB Westport's biggest projects, at various levels of completion, include Icon House and Accra Financial Centre (A-grade buildings in Ghana); Ikeja City Mall (the largest shopping mall in Nigeria); Osapa Retail (Phase I) and Project Wings (Office and retail property in Nigeria) and recently the Junction Shopping Center (retail property in Accra‚ Ghana).

Westport chief financial officer Alan Wilson states,  "Africa currently has the world's highest rate of urbanization. This migration‚ along with Africa's growing middle-class further reinforces the need for high grade office space and retail buildings in urban areas."

For example, Wilson says "the city of Luanda was built for a population of 300,000 and currently has over six million inhabitants."

Wilson says the International Monetary Fund (IMF) recently forecast Nigeria's economy to grow by 6.9% - a rate which‚ if sustained‚ will eventually lead to Nigeria overtaking South Africa as the largest economy in Africa.

2012 Honda Accord Review

The Geneva Auto Show has a special surprise this year for auto fans as the long anticipated 2012 Honda Accord was unveiled. Honda has used its past successes to prove that some serious market competition will be offered by the 2012 Accord line. Having modifications to the design to the interior and exterior, the fuel efficiency has been increased and the CO2 output has been decreased by Honda without risking the performance that is expected by the lovers of Honda.  When looking at it at first, the 2012 Accord seems like a beauty, but upon taking a closer inspection you will notice some additions which are far greater.

Once again, Honda has shown that functionality and beauty can be combined to create a car that makes heads turn. A remodelled front grill is sported b the 2012 Accord which not just adds a certain element of quality but also has a cooling system that is also remodelled which ensures that the powerful engine always run efficiently.  Active cornering technology is included in the premium model along with bi-Xenon headlights and the bumpers have been tweaked to have enhanced tail and front lights. This only goes to show that safety was not sacrificed for design in Honda’s making of the 2012 Accord.
Based on the measurement of its interior space, the mid size sedan of 4.95 metres is almost full size and 5 passengers can easily be seated in spatial comfort. Though boot space is hindered by the gooseneck hinges, it is large. A multilink suspension in the rear and a traditional double wishbone front dictates the set up of the chassis. It also has a gear ratio steering system that varies and should help with in-city manoeuvring as well as with stability that is high speed. Disc brakes are feature on all four wheels whether it be the 17” alloy wheels or the 16” steel wheels.
In all of the NHTSA’s combined ratings of safety categories, a 5-star rating was earned by the Sedan. 6 airbags, active front restraint, ABS with Electronic Brake Distribution and Vehicle Stability Assist all make up its safety features. Honda’s Advanced Engineering Body Structure that diffuses the impact of force in the event of a face on collision, mostly where SUVs counteract, is also a part of the Accord.
Audio controls for steering mount and cruise control as well as steering column that is telescopic are included in all models. Leather interiors, dual zone auto air conditioning, Active Noise Cancellation, auto dimming rear view mirror, a sunroof with a smoked glass, 8-way full power driver seat adjustment, Bluetooth and a 6CD premium sound system with a USB jack are other options which are included. 8-inch screens that utilizes a jog control dial, displays rear view camera visuals and an available navigation system. It has an innovative dual zone auto air conditioner adjust temperatures using sensors with GPS.
The design improvements of Honda are not solely limited to the exterior. When examining the interior, auto fans will see a modern yet stylish design that guarantees to make the 2012 Honda Accord an enjoyable ride for drivers.

New 2012 Renault Clio review

• Fourth-generation Clio supermini driven
• Five-door only
• On sale October, priced from £10,500 (est)

The 2012 Renault Clio is an all-new supermini built specifically to take sales from rivals in this extremely competitive sector.

That will be no easy task, with cars such as the Ford Fiesta, Volkswagen Polo and newly-launched Peugeot 208 to compete with.

It's impossible to overestimate the importance of a new Clio to Renault, because the current car is one of the few Renault models still held in high regard by UK buyers. If this new Clio fails, it could sound the death knell for the company on these shores.

Fortunately, the new car's showroom appeal exceeds that of the previous Clio, due to its sharp exterior styling and an interior that's vastly improved, both in terms of quality and design sophistication.

What's the 2012 Renault Clio like to drive?
Eventually, there will be a wide range of petrol and diesel engines to choose from, including an optimised version of the 1.5-litre diesel that will average 88.3mpg and emits just 83g/km of CO2, a 1.2-litre mated to a six-speed dual-clutch gearbox, and a 200bhp 1.6-litre turbo for the hot Renaultsport version.



For now, though, we've driven only the 89bhp 1.5-litre diesel and the new 89bhp 0.9-litre three-cylinder turbo petrol.

The three-cylinder engine sounds a little clattery at tickover, but very little mechanical vibration seeps through to the cabin. Once settled at a steady pace you'll struggle to tell it apart from a more cultured four-cylinder engine.

Performance is more purposeful than forceful; the engine picks up revs smartly and there's a decent amount of punch when the turbo comes into play at around 2500rpm. Throw in a few inclines, though, and you'll need to be smart with your downshifts and keep the accelerator pressed to the floor to maintain progress.

The additional cost of the 1.5-litre diesel engine means it's likely to have less appeal. That's a shame because its 162lb ft of torque, willingness to rev and smooth mechanical refinement really suit this latest Clio.

The chassis is a development of the outgoing model's, albeit with a wider track to improve grip and quicker steering to sharpen turn-in to corners.

However, the most noticeable improvement is the consistency in the weighting of the steering. While the previous Clio's felt excessively light at low speed and vague on faster roads, the new model's set-up has a meatier feel at all speeds.



The Clio might not have the supreme handling precision of a Ford Fiesta, but that's not to say it's short on engagement. If anything, it feels rather soft and a little nose-heavy when you push it to extremes, but it's still pretty game and can be made to flow through a series of bends with enough vitality to put a smile on your face.

Boston's Commercial Market Benefiting from High-Tech Activity, Financial and Legal Services Lagging

Downtown Boston

According to a third-quarter report by Jones Lang LaSalle on the US office market, there was a slight improvement in this sector, compared to the second quarter, but expectations for future growth have had to be "reset," because of concerns about the global and US economies. 

"The recovery has been limited to a handful of (geographic locations) dominated by energy and technology demand, mainly in Texas, Northern California and the Pacific Northwest," says Jones Lang LaSalle's New England Research Manager, Lori Mabardi. "But Boston appears to be bucking the East Coast trend of stalled momentum," by performing like a West Coast market, in that it is driven by high-tech and life sciences firms, she says.

The Boston metro had an asking rent growth of 1.4% in the third quarter and a drop in vacancy of 30 basis points. "But our market is contending with dual forces," says Mabardi. On the one hand, large firms are shrinking their space and becoming more efficient, while high tech and life science firms, as well as many start-ups, are growing and expanding their physical footprint.

Traditionally, Boston was dominated by financial and legal services, sectors which haven't turned the corner yet, says Mabardi. "Once we do, the fundamentals can improve dramatically," she says.

Boston has recovered 80% of the jobs lost in the recession, but not the same jobs, says Mabardi. "We're still above historical averages in terms of vacancies," she says. "There is little new office supply in Boston and what there is, is mostly build-to-suits, but as companies downsize, (leaving more space on the market)" there is an additional supply of office space, as if there had been new space built, says Mabardi.

Manhattan Residential Sales Slow 5% in Q3 as Listing Inventory at Seven Year Lows

According to Prudential Douglas Elliman's latest Manhattan Market Overview 3Q 2012, the Manhattan housing market showed seasonally stable pricing and sales activity. Smaller apartments continued to gain market share as mortgage rates continued to fall and city employment levels rose.

The sharply declining listing inventory reached a 7.5-year low, while the monthly absorption rate demonstrated a brisk market pace as it reached a 5-year low. All price indicators posted modest year-over-year declines, as 1-bedroom apartments gained 5% market share to represent 37.8% of all sales, edging out the 2-bedroom market as the largest market segment.

Co-Op and Condo Market Highlights:

• Quarterly pending sales rose as year-to-date closed sales lagged-- The pending sales index was 4.9% above year ago levels as summer contract signings were unusually heavy. Year-to-date closed sales lagged behind prior year totals by 2.9%, as 2011 saw more activity in the first half of the year.

• Listing inventory continued to decline sharply, reaching lowest level in 7.5 years-- There were 5,847 listings at the end of the quarter, 24.3% fewer than 7,726 total in the prior year quarter, marking the metric's lowest level since the first quarter of 2005. The monthly absorption rate fell to 5.9 months, the fastest market pace in five years.

• Prices showed stability. Indicators slipped as market share for 1-bedrooms jumped-- Median sales price slipped 2.3% to $890,000 from $911,333 in the prior year quarter. Market share of 1-bedroom sales jumped 5% to 37.8% over the same period.

The median sales price was $890,000, down 2.3% from $911,333 a year ago. Average sales price and average price per square foot slipped 1.4% and 2.4% from the prior year quarter to $1,444,463 and $1,103 respectively. Year-to-date, median sales price remained unchanged from a year ago at $850,000, while average price per square foot increased 0.6%, further reflecting price stability in the overall market.

There were 2,952 sales this quarter, the second highest total since the credit crunch began four years ago, second only to the prior year quarter total of 3,106. Sales in the first half of 2012 fell just short of sales in the first half of 2011. While there was a 5% decline in third quarter sales from a year ago, signed contracts increased 4.9%.

After a relatively slow summer in 2011, sales activity remained unusually high over the 2012 summer months, suggesting a possible stronger finish to the year. Average monthly maintenance was $1.62 per square foot per month, up 6.6% from $1.52 in the same period last year. Despite listing inventory continuing to drop, declining 24.3% to 5,847, its lowest level since the first quarter of 2005, only 8.5% of all sales sold for more than their list price at time of contract, down from 10.1% in the prior year quarter. As inventory fell, older listings were absorbed, resulting in a jump in days on market from 119 in the prior year quarter to 191. Listing discount increased from 4.4% to 7.2% over the same period.



The Co-Op Market

• Price indicators were mixed as both entry-level and high-end sales rose-- The combined studio and 1-bedroom market share was 55.2%, up from 53.7% in the prior year quarter. The 3- and 4-bedroom market share jumped from 8.4% to 15.3% over the same period.

• Most co-op sales in five years-- There were 1,728 sales in the third quarter, 31.2% more than in the year ago quarter, and the highest number since 2007.

• Listing inventory fell sharply-- There were 3,136 listings at the end of the third quarter, 25.1% below year ago levels, resulting in a 5.4 month absorption rate, the fastest market pace in five years.

The median sales price edged 0.7% lower to $700,000 from $705,000 largely due to the drop in market share of 2-bedroom apartments. Typically the largest category, this segment fell to a 29.4% market share from 37.9% in the same period last year. Average sales price for the third quarter edged 0.8% higher to $1,216,364 from $1,206,770 in the same period last year. Average price per square foot slipped 2.2% to $969 from $991 in the prior year quarter. There were 1,728 sales in the third quarter, 31.2% more than 1,317 in the same period last year. Listing inventory fell 25.1% from 4,187 to 3,136 over the same period. Co-ops accounted for 58.5% of all apartment sales and 53.6% of all active apartment listings. The combination of rising sales and falling inventory resulted in a 5.4 month absorption rate, the fastest market pace in 5 years. Days on market continued to rise, reaching 191 days from 103 days in the prior year quarter, this high level of marketing time indicating that the market sold off older inventory as new listings failed to keep up with the pace of sales. The listing discount jumped to 7.7% from 2.6% in the year ago quarter. The monthly maintenance charge for all sales increased 3.8% from $1.59 per square foot per month in the prior year quarter to $1.65.

 

London's AXA Investment Group Raises $1.8 Billion; Aims for $2 Billion

With European investors hungry for fresh investment capital, London-based AXA Real Estate Investment Managers announced it has raised $1.8 billion (1.4 billion euros) to loan projects in The Netherlands, Sweden, Norway, Finland and Switzerland. The new funds raises AXA's lending chest to 7 billion euros for the year to date.  One euro equals $1.30 U.S.

AXA says it expects to raise another two billion euros by the end of this year. The new tranche of fund-raising follows 1.3 billion euros in investments made by AXA Real Estate for the first half of 2012.  AXA Real Estate Investment Managers is a subsidiary of AXA Investment Managers (AIM)

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Amazon Buys Its 11-Building Seattle Headquarters Campus for $1.16 Billion

Signaling that near-future growth is on the way, Seattle, WA-based Amazon.com, founded by entrepreneur Jeff Bezos, has contracted to purchase its 11-building, 1.8-million-square-foot South Lake Union headquarters campus from Vulcan Real Estate for $1.16 billion.

The deal is expected to close before the end of the year. Seattle real estate sources call it the biggest commercial real estate deal in Seattle's history. The sales price of the four-year-old property equates to $644 per square foot.

Vulcan Real Estate was founded by Microsoft co-founder Paul Allen. He began building the complex in 2008 after Amazon signed long-term leases that expire in the 2020s. Allen is selling the property to rebalance its investment portfolio and free up capital for more development in  the booming South Lake Union neighborhood of Seattle, according to published media reports.

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California Healthcare Investment Partners' Portfolio Hits $1 Billion

Newport Beach, CA-based American Healthcare Investors and Griffin Capital Corp. announced their $108.5 million acquisition of three Los Angeles-area hospitals and three medical office buildings in Frisco, TX and Jasper, GA. The purchase brings the partners' portfolio value to $1.1 billion on 121 buildings in 26 states.

"Reaching the $1 billion mark in aggregate portfolio value, based on purchase price, is a key milestone for Griffin-American Healthcare REIT II," said Danny Prosky, a principal of American-Healthcare Investors and president and chief operating officer of the REIT.

He added, "Size and scale can be very important in terms of real estate portfolio operations, efficiency and potential enhanced value of the REIT as a whole. The REIT has now grown to the size where it is one of the largest and most significant owners of healthcare-related real estate in the country."

England's St Mellion Resort Debuts New Golf Homes

St. Mellion International Golf Resort, England

Unlike America, finding a home on a golf course is not as commonplace in England. Or the rest of Great Britain for that matter.

Fans of St Mellion International Golf Resort, however, now have a rare opportunity to purchase residential overlooking the resort's Jack Nicklaus Signature Golf Course. According to the developer's of this new "Esprit" enclave of homes in the heart of St Mellion, the development comes with an "investment guarantee scheme" offering an 8 percent return for three years to investors.

St Mellion, located near Plymouth in Cornwall, is noted for playing host to 12 PGA European Tour events. The attractive "investment guarantee" offer is available only to purchasers of the first 27 of the 66 proposed properties. The homes situated in the heart of the St. Mellion overlooking both the Nicklaus golf course and Kernow Golf Course.

The first properties are planned for completion by Easter 2013. The properties range in size from 2-bedroom, 2-bathroom apartments (641 square feet) and go up to 4-bedroom detached homes (1,410 square feet). Prices are $328,000 to $720,000.

Built with an energy efficient timber frame the homes feature high quality fixtures and fittings, under floor heating throughout, bespoke modern kitchens, bathrooms and oak staircases. All rooms on the upper floors are characterized with high vaulted ceilings.

The built-in rental revenue scheme runs for three years from the date of purchase, according to the developers.  During this period the developer will cover all other running and servicing costs with no other costs payable by the purchaser. Owners can utilize their property for three weeks within any one year, in low and medium seasons, with the option to have a reduced rental payment if using it for longer periods.

St Mellion home

Though England overhauled its tax code on rental properties, the developer says there are still favorable tax breaks for savvy purchasers looking to make an investment in a furnished holiday rental property. For example when the property is sold, the rate of capital gains tax charged on any rise in the value of the property is less than half the usual 28% rate at just 10%.

Early purchasers will benefit from free membership for three years to the resort's two golf courses and other leisure facilities on site such as their health club and spa with three separate indoor swimming pools, a large gymnasium, an Elemis spa, crèche, kids club, tennis courts and bowling greens.

The resort also has its own four-star 80-room hotel featuring an onsite brasserie, fine dining restaurant, bars, and golf clubhouse. All early purchasers will receive discounts on food and beverages within the Resort.

The developer are anticipating the properties will be popular with investors looking to rent them out as holiday lets and the golfing and leisure facilities onsite will give owners a much longer rental or "letting" season.

The demand for self catering holiday lets has soared by 20% since before the financial crisis, according to a recent Knight Frank report on second homes. The trend is expected to continue with Deloitte and Oxford economic forecasting that spending by Britons holidaying at home will rise by a cumulative 30% by 2020. The southwest region dominates the domestic tourism market accounting for one in every five trips taken by holiday makers last year

2012 Honda Civic Review

The Honda 2012 Civic has improved on the engine, power and mileage front. With little on the design and interiors this automobile will surely put your eyes to rest at it. The sport Model of Honda Civic Si has a 2.4 L, 4 cylinder engine which gives you the much needed torque. The 2012 Honda civic review helps you to look at all the different trims of this vehicle. This model has more space, and a 5-inch display for information’s.
The 2012 Honda civic has sedan and coupe variations in body and the sedan levels range form Dx, Lx, Ex, and Ex-L. Expect it and you will get in the Dx model –it has 15 inch steel wheel, auto-off headlight, intermittent windshield wipers, rear window defroster, Power windows, tilt and telescoping steering wheel remote door locks with key less entry and cruise control.
The 2012 Honda Civic Review also include HF sedan which have low rolling resistant tires and aero dynamic cast aluminum wheels, wind cheating underbody panels and rear spoilers. The Models has 1.8L Four cylinder engine which give power of 140 hp and 128 Pound feet torque. The average segment time is 0-60mph in 9.2 seconds. The safety features also include anti-lock brakes, front seat side impact, side impact air bags, and brake fade.
The interior changes in Honda 2012 are small but it holds a display screen of 5inches which shows audio, hands free mode and has various vehicle systems. The volume in the Honda sedan is 12.5 Cubic feet while in coupe is 11.7. The wheel base is well balanced and light as 2012 Honda civic has shorter wheel base than its previous models. The 2012 Honda Civic review guides you over the steering wheel with 14 buttons for the handy use and other directional commands. Surely this one adds a lot of control in the driver’s hand. With power windows, LED taillights, rear speaker, heated mirrors and leather upholstery.
The sport version of the Honda civic is fun to drive, with more torque at lower RPM. This one really takes you to the sharp edges with its power steering. The car control and safety wins at the traction control and stability control at various surfaces. The mileage has also improved which certainly gives it atop rank among other luxury sedans. The comfort of this car has increased to those who like to seat at the back. With a leg room of 2inches more than last year this assures a tire less drive. Test Drive the 2012 Honda civic and check out the difference.