Thursday REal Talk with Adam Perrotta

By Adam Perrotta, News Writer

--In yet another example of an American firm's involvement abroad, Denver-based ProLogis has appointed Philip Dunne as COO of Europe and the Middle East. Dunne's appointment would seem to indicate that the firm has every intention of remaining active on the international scene, continuing a long history of foreign involvement.  The move is yet more evidence that, at least for large firms like ProLogis, the attractions of foreign markets are sufficient to outweigh concerns about a weak dollar.

On the opposite end of the cross-border investment spectrum, Zurich-based foundations AFIAA's entry into the Texas market with the purchase of Austin's Wells Fargo Tower serves notice  that Austin--long a locally-centered market--has really arrived on the scene and is attracting investors from much farther afield.

And New York State's approval of $329 million for the development and preservation of affordable units in New York City should come as heartening news for proponents of affordable housing. It's nice to see that, even in the luxury-development-crazed NYC market, the affordable sector is not being left completely in the dust.