Commercial

Irvine Co. to buy Chicago Tower for $850 million from KBS Realty

Irvine Co., the South California-based real estate firm run by billionaire Donald Bren, has reportedly agreed to purchase a 60-storey, 1.3 million-square feet tower in Chicago from KBS Realty Advisors for $850 million.

Blackstone selling Boston office building portfolio to Oxford Properties for $2.1 billion

Blackstone Group LP, the famous property firm, is reportedly selling a portfolio of office buildings in Boston to an investor group led by Oxford Properties for $2.1 billion.

US Home Building Rose 13.2 percent in April

Construction on new homes went up in April as building permits reached the highest level since November 2013. This is a good sign for the somewhat troubled spring housing market.