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1450 Brickell Tower Becomes Miami's First LEED Gold Office Building

Posted by Michael Gerrity 09/02/10 11:14 AM

(MIAMI, FL) -- Just days after unveiling that 1450 Brickell now has 226,000 square feet of office space leased, the project's developer announced today that the 'class-A' building has been awarded LEED Gold certification by the U.S. Green Building Council. Read More
Commercial Mortgage Delinquencies Mixed in Q-2, Says MBA

Posted by Michael Gerrity 09/02/10 9:10 AM

According to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report, delinquency rates were mixed in the second quarter for commercial/multifamily mortgage investor groups. The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) is the highest since the series began in 1997. Read More
Two Years Behind Schedule, $2 Billion Xanadu Retail Project Near Collapse in New Jersey

Posted by Alex Finkelstein 09/01/10 8:20 AM

It's the end of the road for Xanadu, a planned billion-dollar, 2.3-million-square-foot retail emporium in East Rutherford, NJ. Big-name financiers and developers have dropped the ball. The state of New Jersey is considering foreclosing on the property. Read More
GLOBAL COMMERCIAL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 08/27/10 8:00 AM

The latest data published by research group Investment Property Databank show property values in the United Kingdom have grown 15.4% since August 2009 and about 7% this year. But the growth in property values has been slowing for the past four months. Read More
Office-Leasing Rally Deceiving as Tenants Sign More Contracts but Take Less Space

Posted by Alex Finkelstein 08/26/10 3:52 PM

The office-leasing numbers look good right now but they could be deceiving, according to a recent national study by New York City-based Studley. Read More
New York City Approves Iconic New Skyscraper

Posted by Kevin Brass 08/26/10 3:40 PM

A skyscraper billed as a rival to the iconic Empire State Building was approved Wednesday by the New York City Council. The 1,190-foot '15 Penn Plaza' is planned for two blocks west of the Empire State Building, drawing criticism that it will alter New York's famed skyline. Read More
Many U.S. Commercial Real Estate Markets Hurting From Weak Job Growth, Says NAR

Posted by Michael Gerrity 08/26/10 10:00 AM

According to the National Association of Realtors (NAR), the U.S. commercial real estate sector, hurt by weak job growth, are now offering various incentives in many areas that are conducive to luring new tenants or expanding existing tenants. Read More
Wells Fargo Tops U.S. Commercial and Multifamily Loan Servicers in Mid-Year Rankings Report

Posted by Michael Gerrity 08/24/10 9:37 AM

The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of the end of June 30, 2010. Read More
Las Vegas' CityCenter Expands Highend Retail Tenant Base

Posted by Michael Gerrity 08/18/10 1:04 PM

By year's end, Crystals retail & entertainment district will add 12 new brands to its exceptional collection of retailers and dining concepts, including flagship stores for Prada and GUCCI; as well as boutiques for Yves Saint Laurent, Balenciaga, Stella McCartney, ... Read More
After $6 Billion Buying Binge, Middle East Investors Shun U.S. Commercial Real Estate

Posted by Kevin Brass 08/18/10 12:47 PM

Two years after buying almost $6 billion in U.S. commercial real estate--more than Europe, Asia and the Americas combined -- Middle East investors have almost disappeared from the American market. Read More
L.A. Engineering Firm Buys Tishman Construction for $245 Million

Posted by Alex Finkelstein 08/04/10 12:22 PM

Two of the biggest names in the international commercial engineering and construction realms have married. In a cash and stock deal, Los Angeles-based Aecom Technology Corp. (NYSE: ACM) has acquired privately-held Tishman Construction Corp. for $245 million. Read More
Commercial and Multifamily Mortgage Originations Increase in Q2, But Remain Flat Over Last Year

Posted by Michael Gerrity 07/28/10 12:10 PM

According to the Mortgage Bankers Association's (MBA) quarterly survey of commercial and multifamily mortgage bankers originations, ... Read More
Waikiki Merchants Suffer as Shoppers Ignore Downtown Stores

Posted by Alex Finkelstein 07/28/10 9:00 AM

Times are a-changing on the glamorous Hawaiian island of Waikiki. Waikiki leisure and vacation attractions remain vibrant but when it comes to shopping for everyday items, Read More
Miami's 1450 Brickell Office Tower Signs Major New Leases

Posted by Michael Gerrity 07/27/10 8:40 AM

(MIAMI, FL) -- The 1450 Brickell building is on a roll these days. The 35-story, 582,817 square-foot 'class-A' office tower in downtown Miami's Financial District has finalized office leases with financial services firm BNY Mellon, Read More
Morgan Stanley Faces $5.4 Billion Loss from Key Real Estate Fund

Posted by Alex Finkelstein 07/21/10 3:46 PM

A whole big shakeout of real estate funds held by U.S. investment banks is on the table. Morgan Stanley, the biggest real estate investor on Wall Street, ... Read More
Private Equity Fund Pays $95 Million for Four Class A Office Buildings in South Florida

Posted by Alex Finkelstein 07/21/10 8:00 AM

NGP Fund V LLC, a private equity fund believed to be based in Washington, DC, has paid $95.1 million for a 196,915-square-foot, class A office building portfolio leased entirely to the federal General Services Administration, the largest landlord in the U.S. Read More
4,587-Acre Colorado Mixed-Use Site Back on the Market at Discounted Price

Posted by Alex Finkelstein 07/19/10 8:00 AM

With an estimated value in 2007 of $400 million or $8,720 per acre, a prime Northern Colorado mixed-use site is back on the market for $173 million or about $3,732 per acre. Read More
Fortress Swoops Down on Distressed Commercial Assets with $550 Million Buy

Posted by Alex Finkelstein 07/15/10 1:40 PM

New York City-based Fortress Investment Group LLP (NYSE: FIG), with $42 billion in assets, has shelled out a total $550 million to purchase CW Financial Services of Needham, MA and KK daVinci Holdings of Chuou-ku, a financial district in the center of Tokyo. Read More
New York City Commercial Investment Activity Ramps up in 2010, Says Massey Knakal Report

Posted by Michael Gerrity 07/14/10 2:38 PM

According to a new report released today by Manhattan-based Massey Knakal Realty Services, commercial investment sales activity in the greater New York City area is on a strong upswing in 2010. Read More
General Growth Properties Adds $500 Million to Bankruptcy Recovery Pool

Posted by Alex Finkelstein 07/14/10 8:30 AM

Chicago-based General Growth Properties Inc. (NYSE:GGP), which already has enough money to easily survive its expected Chapter 11 exit in October, has received a $500 million equity investment from an unexpected source. Read More
RECI Sees Some Light at End of Realty Capital Market Tunnel

Posted by Alex Finkelstein 07/01/10 8:00 AM

The nation's realty capital markets continue to show signs of recovery, reports The Real Estate Capital Institute of Chicago. New guidelines and creative funding avenues are showing up in the realty capital pipelines, Read More
Is There a Bottom in Sight for Commercial Real Estate?

Posted by Keith Jurow 06/30/10 8:00 AM

In the last 18 months, the commercial real estate market has seriously deteriorated. Yet many analysts are hopeful that the worst is over and that pressure on property owners will begin to ease. Let's take an in-depth look at whether their optimism is justified. Read More
Independent Mortgage Bankers Profits Up in 2009, Says New MBA Report

Posted by Michael Gerrity 06/29/10 1:41 PM

According to the Mortgage Bankers Association (MBA)'s Annual 2009 Mortgage Bankers Production Survey released today, independent mortgage bankers and subsidiaries made an average profit of $1,135 on each loan ... Read More
Forest City Enterprises Loses $15.6 Million in First Quarter But Still has $239 Million in Cash on Balance Sheet

Posted by Alex Finkelstein 06/24/10 8:02 AM

Forest City Enterprises Inc. (NYSE:FCEA) and (NYSE:FCEB), lost $15.6 million in the first quarter ... Read More
Buffet Trades Jabs with Federal Prober on Bond Ratings Agencies

Posted by Alex Finkelstein 06/23/10 8:30 AM

Few financial wizards can best Nebraska billionaire Warren Buffet in a money-related debate, but Phil Angelides may be one who came close. Read More
Commercial Mortgage Debt Declined 0.9 Percent in Q-1

Posted by Michael Gerrity 06/22/10 1:50 PM

According to the Mortgage Bankers Association's (MBA) analysis of the Federal Reserve Board Flow of Funds data, the level of commercial/multifamily mortgage debt outstanding decreased in the first quarter, to $3.31 trillion. Read More
Iconic Dallas Project Breaks Ground

Posted by Kevin Brass 06/21/10 1:02 PM

Three years after its grand unveiling, construction is finally set to begin on an ambitious 42-story luxury residential development in Dallas' fast-growing arts district. Read More
U.S. Has Highest Commercial Real Estate Default Rate since 1992, Analyst Reports

Posted by Alex Finkelstein 06/17/10 11:35 AM

As predicted, 2010 will mark the highest default rate among commercial real estate owners since at least 1992, according to two separate new studies by New York City-based analysts. Read More
Economic Weakness Continues to Weigh on Commercial Mortgages

Posted by Michael Gerrity 06/16/10 10:05 AM

According to the Mortgage Bankers Association's (MBA) latest Commercial/Multifamily Delinquency Report , the delinquency rate for loans held in CMBS is the highest since the series began in 1997. Read More
Robert Canter Calls Publicized Commercial Real Estate Recovery 'Pure Propaganda'

Posted by Alex Finkelstein 06/15/10 8:31 AM

It isn't often that a member of the tribe stands up and gets a weighty issue of his mind. But that is what Robert Canter has done. His credentials are noteworthy. Read More
Mexican Investor Carlos Slim Helu Buys 417 Fifth Avenue Office Building for $140 Million

Posted by Michael Gerrity 06/14/10 3:17 PM

According to Cushman & Wakefield (C & W), foreign buyers now account for 15% of all Manhattan investment sales in 2010. Read More
Abu Dhabi to Build Huge Solar Plant for Cleaner Energy with French and Spanish Partners

Posted by Alma Kadragic 06/14/10 8:00 AM

(ABU DHABI, UAE) -- While some big infrastructure projects are postponed or slowed due to the local and worldwide financial situation, others are full speed ahead as happened this week with the announcement by Masdar that it will build a... Read More
Real Estate Trends Offer Mixed Signals for Florida Economy, Says NAI Realvest's Livingston

Posted by Alex Finkelstein 05/31/10 4:16 PM

George Livingston, chairman emeritus of NAI Realvest in Maitland, FL and a 30-year veteran real estate and investment analyst, says current real estate trends offer mixed signals for the Florida economy. Read More
Boston Properties Quits Investment Race for $100 Million One World Trade Center

Posted by Alex Finkelstein 05/26/10 12:36 PM

A three-horse investment race for the $100 million, under-construction One World Trade Center in Downtown Manhattan just became a two-horse competition. Read More
U.S. Commercial Real Estate Vacancies to Peak in Early 2011, Says NAR

Posted by Michael Gerrity 05/26/10 11:38 AM

According to the National Association of Realtors, vacancy rates continue to rise in most commercial sectors and are not expected to level out in most markets until the late 2010 or early 2011. Read More
First International Commercial Airport Built in Last 15 Years Opens on Florida's Gulf Coast

Posted by Alex Finkelstein 05/24/10 1:14 PM

The St. Joe Co. (NYSE:JOE) today is at least a million dollars richer today with the opening of the Northwest Florida Beaches International Airport at West Bay, FL on Florida's Gulf Coast. Read More
Florida's Equity One Enters Northern California Retail Market With $600 Million Joint Venture

Posted by Alex Finkelstein 05/24/10 11:20 AM

Without having to construct a single shopping center, North Miami Beach, FL-based Equity One Inc. will shortly be entering one of the country's strongest retail markets - Northern California. Read More
$72 Million Deal for Chicago Loop Office Tower Closes on Time

Posted by Alex Finkelstein 05/24/10 9:00 AM

Chicago-based Prime Group Realty Trust (NYSE:PGEPRB) has closed on the $72.25 million sale of the 39-story 180 North LaSalle Street office tower in Chicago's prime Loop district. Read More
Al Gore, Michael Bloomberg Open Manhattan's Bank of America Tower

Posted by Michael Gerrity 05/22/10 11:12 AM

Bank of America's Global Strategy and Marketing Officer Anne M. Finucane and The Durst Organization's Chairman Douglas Durst and President Jody Durst were joined today by Nobel Prize winner, former Vice President, and building tenant Al Gore, Read More
Vornado Runs Loan Default Tab to $400 Million

Posted by Alex Finkelstein 05/21/10 10:00 AM

Vornado, a big name in national and international commercial real estate spheres, has defaulted on its third property. That brings the delinquent loan total for the New York City-based REIT to about $400 million, according to findings by the Wall Street Journal. Read More
Miami's 1450 Brickell Office Tower Leases 200,000 Square Feet of Deals

Posted by Michael Gerrity 05/20/10 10:03 AM

1450 Brickell Avenue, a 'class-A' office building in Miami's Brickell Financial District has finalized leases with Bancaja, H.I.G. Capital, Kempler Energy, law firm Ratzan & Rubio, ... Read More
NBA Finals in Orlando Could Generate $5 Million in National Ad Blitz, Predicts Stirling Sotheby's Soderstrom

Posted by Alex Finkelstein 05/19/10 8:00 AM

It may not turn out to be another $3 million pay day as it was in 2009 for Downtown Orlando retailers, hoteliers and vendors, ... Read More
Green Building Certifications to Cover 53 Billion Square Feet of Commercial and Residential Space by 2020, Forecasts Pike Research

Posted by Alex Finkelstein 05/18/10 2:25 PM

Green building certification programs in the U.S. are beginning to translate to higher market values for structures in all commercial and residential categories, according to a new study by Boulder, CO-based Pike Research. Read More
Skanska Constructing $258 Million Palisades Tunnel for New Jersey Transit

Posted by Alex Finkelstein 05/18/10 1:16 PM

Stockholm-based Skanska (STO:SKAB) will earn $52 million or 20 percent of the $258 million Palisades Tunnel it is constructing for the New Jersey Transit. The project has a December 2013 completion date. Read More
Morgan Stanley Going After Private Equity Funds With War Chest of $585 Million

Posted by Alex Finkelstein 05/18/10 8:30 AM

The realty capital market in the U.S. is back on track. As an example, Morgan Stanley Alternative Investment Partners (MSIM) announced in New York today it had raised $585 million for a new Global Secondary Opportunities Fund. Read More
8 Big Banks, 3 Credit Rating Agencies Under Investigation for Misleading Investors

Posted by Alex Finkelstein 05/17/10 8:27 AM

Eight big American and European banks and three U.S. credit-rating agencies are under investigation today by at least three separate state and federal law enforcement groups ... Read More
GLOBAL RETAIL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 05/14/10 8:00 AM

Tucson Business reports plans for six million square feet of new shopping center space in the Tucson region are on hold as the economic recession's racking of the retail sector continues. Read More
Park Avenue Retail Building Commands Price of $2,023 per SF

Posted by Alex Finkelstein 05/13/10 12:22 PM

A prime 43,005-square-foot New York City retail building has changed hands for $8.7 million or $2,023 per square foot. Marcus & Millichap Real Estate Investment Services arranged the sale of 407 Park Ave., a retail building fully leased to Stefano Ricci, ... Read More
Proposed Hedge Fund Tax Could Hurt Property Developers, ICSC Warns Congress

Posted by Alex Finkelstein 05/13/10 10:56 AM

It's an accounting tool called "carried interest" that developers use as the return for shouldering the risks and liabilities associated with real estate projects, ... Read More
Fitch Cites Brookfield's Strong Liquidity in Pending Deal with General Growth Properties

Posted by Alex Finkelstein 05/11/10 1:13 PM

Fitch Ratings expects Toronto-based Brookfield Asset Management (NYSE/TSX/Euronext: BAM) to syndicate part of a proposed $6.5 billion recapitalization of General Growth Properties (NYSE:GGP).Brookfield's investment actions will have no impact on its current bond ratings, the New York City-based agency said.Brookfield's... Read More
Industrial Leasing Market Continues to Bleed in First Quarter

Posted by Alex Finkelstein 05/11/10 12:47 PM

The industrial leasing market, in bad shape for the past three years, may start to turn around in 2011, estimates Bob Bach, senior vice president and chief economist at Grubb & Ellis Co. Read More
Manhattan Office Dealmaker SL Green Buys/Sells $1 Billion on 3 Prime Properties

Posted by Alex Finkelstein 05/10/10 1:08 PM

SL Green Realty Corp. (NYSE:SLG), which calls itself New York City's largest owner of commercial office properties, announced today it has contracted to close on deals shortly involving purchases and sales ... Read More
General Growth Properties' Q-1 Sales Improve but Net Operating Income Down 3% from 2009 Period

Posted by Alex Finkelstein 05/10/10 11:36 AM

General Growth Properties' first-quarter net operating income was 3% below the comparable 2009 period but that hasn't disheartened officials of the Chapter 11-status mall developer.In a prepared statement today, following the release of the company's financial performance for the first... Read More
Blumberg Capital's CEO Says It's Time to Start Buying Again

Posted by Alex Finkelstein 05/10/10 8:30 AM

Philip Blumberg, who says he gauged the markets correctly between 2006 and 2008 and sold all his fund's assets, has stepped to the plate again and says the real estate cycle has hit bottom and it's time to start buying again. Read More
Bankruptcy Court Approves Changes in Bidding That Could Bring General Growth Properties Higher Offers

Posted by Alex Finkelstein 05/10/10 8:00 AM

In a late Friday (May 7) ruling, a bankruptcy court in New York approved changes in General Growth Properties Inc.'s (NYSE:GGP) Chapter 11 plan ... Read More
Simon Property Group Pulls Plug on Plan to Buy Rival General Growth Properties

Posted by Alex Finkelstein 05/07/10 4:17 PM

After months of serious thrusts to buy its No. 1 shopping center development rival, Indianapolis, IN-based Simon Property Group (NYSE:SPG) today abruptly stopped all further bidding for Chicago-based General Growth Properties Inc. Read More
CB Richard Ellis Beefs Up Staffs with 30 Professionals

Posted by Alex Finkelstein 05/07/10 2:34 PM

Anticipating a strong rebound on the commercial real estate side worldwide, Los Angeles, CA-based CB Richard Ellis Group Inc. (NYSE:CBG) has hired 30 professionals in key markets and business lines. Read More
German Hardware Maker Leases 126,256 SF at Hamilton Mill Business Center

Posted by Alex Finkelstein 05/06/10 12:39 PM

A central Atlanta location, convenience to shopping and entertainment for its employees, and a Class A environment --- that is what Hettich America was looking for to consolidate its Georgia headquarters ... Read More
IKEA Breaks Ground in Colorado on 38th Store in U.S.

Posted by Alex Finkelstein 05/05/10 11:58 AM

Swedish retailer IKEA broke ground today on its 38th home furnishings store in the U.S. The 415,000-square-foot building will be in the Denver, CO suburb of Centennial. The store is scheduled to open in fall 2011. Read More
CalPERS Fund Details Billions in Real Estate Losses

Posted by Kevin Brass 05/04/10 8:54 AM

In 2004, faced with a "flood of capital" into real estate markets, the directors of the CalPERS investment fund, one of the largest pension funds in the country, made a fateful decision. With yields plummeting, CalPERS sold off $16 billion of core assets Read More
New Disney Store Soon Coming to San Francisco

Posted by Michael Gerrity 04/26/10 3:01 PM

According to Cushman & Wakefield, the Disney Store has leased 12,281 square feet, or the entire building located at 39 Stockton St. in Union Square.The building, which is owned by 39 Stockton Street LLC, is located near the intersection of... Read More
Simon Offers New Buyout Plan but GGP in No Rush to Accept

Posted by Alex Finkelstein 04/26/10 9:00 AM

It's a predictable cat-and-mouse game with Simon Property Group Inc. of Indianapolis as the cat and General Growth Properties Inc. of Chicago the mouse. After GGP rejected Simon's initial $10 billion buyout offer, as Real Estate Channel previously reported, Read More
Commercial and Multifamily Loan Originations Down 46% in 2009

Posted by Michael Gerrity 04/22/10 9:50 AM

According to the Mortgage Bankers Association's 2009 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation , commercial and multifamily mortgage origination volumes decreased 46 percent in 2009 among repeat reporters, with mortgage bankers reporting $82.3 billion of closed commercial and... Read More
GOLDMAN SACHS UPDATE: Bankers Revel in New $2.1 Billion HQ Building as International Controversy Tarnishes 141-Year-Old Image

Posted by Alex Finkelstein 04/19/10 8:00 AM

Despite a surprise stinging civil suit brought against it by the Securities and Exchange Commission on April 16, the 141-year-old Goldman Sachs investment bank offers apologies to no one ... Read More
New York City Commercial Real Estate Sales Activity Remained Flat in Q1

Posted by Michael Gerrity 04/14/10 8:00 AM

According to Massey Knakal Realty Services' first quarter 2010 Property Sales Report for the greater New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens); the total number of properties sold citywide in Q1 was 373, ... Read More
Healthcare Trust Continues Buying Binge - Pays $10.3M for South Carolina Medical Office Building

Posted by Alex Finkelstein 04/13/10 12:47 PM

Scottsdale, AZ-based Healthcare Trust of America Inc. continues to grow its real estate portfolio. The self-managed, non-traded Arizona REIT paid about $10.325 million for the 60,800-square-foot Medical Center at East Cooper in Mount Pleasant, SC, a suburb of Charleston. Read More
New York Fed Discloses Hospitality-Related Assets in Government Bailout Holdings

Posted by Alex Finkelstein 04/12/10 3:01 PM

Almost two years after one of the worst financial collapses in modern U.S. history, a government bank has disclosed for the first time that the assets of big-name international hotels make up one of its three holdings related to billion-dollar bailouts to the corporate community. Read More
Total Delinquent Loans Up 21.3 Percent; Foreclosure Rates at Record Highs

Posted by Michael Gerrity 04/12/10 11:25 AM

According to the latest Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS), shows that the total number of delinquent loans was 21.3 percent higher than the same period last year. Although the data showed a small 1.45... Read More
New Investor Survey Reports 73% Still Prefer Commercial Real Estate and Cash as Preferred Investment Vehicles

Posted by Michael Gerrity 04/09/10 3:34 PM

In a recent survey by Lee & Associates Investment Services Group, the Los Angeles-based brokerage firm invited thousands of its clients nationwide to complete a short online survey consisting of eight key questions facing private real estate investors. The respondents included high-net-worth individuals, partnerships and other groups specializing in commercial real estate deals valued in the range of $2 million to $20 million. Read More
Mortgage Rates Jump to Highest Levels Since Last Summer, Tops 5.21% Today

Posted by Michael Gerrity 04/08/10 2:15 PM

According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 5.21 percent with an average 0.6 point for the week ending April 8, 2010, up from last week when it averaged 5.08 percent. Last year at this time, the 30-year FRM averaged 4.87 percent. Read More
U.S. Hotel Market Occupancy Rates to Increase 1.9% by Year-end, Says STR

Posted by Michael Gerrity 04/08/10 11:05 AM

According to Smith Travel Research's (STR) monthly forecast update, the U.S. hotel industry is expected to end 2010 with stronger performance in all three key measurements than previously predicted. STR predicts 2010 occupancy to increase 1.9 percent to 55.8 percent, average daily rate to decrease 2.3 percent to US$95.45, Read More
Russian Mortgage Market to Double in 2010

Posted by Michael Gerrity 04/07/10 2:55 PM

According to analysts of the Russian JSC "Agency for Housing Mortgage Lending" (AHML), real estate mortgage lending in Russia will double in 2010 as compared to last year. According to AHML, during the first quarter of 2010, the total amount of mortgage loans provided by the Russian banks amounted to $45-50 billion rubles (USD $1.7 billion). Read More
Wells Fargo Was Top Dog for Commercial, Multifamily Loan Originations in 2009

Posted by Michael Gerrity 04/07/10 10:42 AM

According to a set of listings released by the Mortgage Bankers Association (MBA), Wells Fargo Bank was the top commercial/multifamily originator in 2009.Other originators in the top 10 include PNC Real Estate; Deutsche Bank Commercial Real Estate; CBRE Capital Markets,... Read More
Realty Capital Markets Stay on Slippery Slope, RECI Reports

Posted by Alex Finkelstein 04/06/10 11:10 AM

Chicago-based Real Estate Capital Institute reports realty capital markets continue on "a slippery path of gradual recovery held up by the Fed's desire to keep benchmark rates unchanged - a policy upheld since December, 2008."At the same time, notes RECI... Read More
TARP Borrowers Pay Back $181 Billion to Uncle Sam So Far

Posted by Alex Finkelstein 04/05/10 12:20 PM

Uncle Sam is hearing often these days from big-name borrowers.The Treasury Department confirms it has received a total of $181 billion from companies to repay their government bailouts, reports DSNews.com.The new paybacks come from:Hartford Financial Services Group Inc., $3.4 billion... Read More
Skanska Wins 80% of $542M Construction Contract for Port Authority Station at New World Trade Center

Posted by Alex Finkelstein 04/05/10 10:00 AM

Sweden-based Skanska (STO:SKAB) has won 80 percent ($434 million) of a total $542 million (SEK 3.1 billion) construction contract to build the new Port Authority Trans-Hudson station at the new World Trade Center site in New York City. Read More
GENERAL GROWTH UPDATE: Chicago Mall Developer Sets Up Bidding War Plan in New Bankruptcy Court Filing

Posted by Alex Finkelstein 04/02/10 2:15 PM

Chicago-based General Growth Properties (GGP.N), in voluntary Chapter 11 protection since April 16, 2009, has set up a creative exit plan that once again would re-establish the company as the second largest mall developer in the U.S. Read More
White House Environmental Chief to Visit Central Florida, Will Tour 'GreenWorks Orlando' Sites

Posted by Michael Gerrity 04/01/10 3:03 PM

(ORLANDO, FL) -- On Monday, April 5th President Barack Obama's chief environmental advisor will visit Orlando to learn about the City's emerging sustainability program, GreenWorks Orlando.White House Council on Environmental Quality (CEQ) Chair Nancy Sutley will tour Orlando's new Fire... Read More
Government Reports Annualized U.S. Construction Rate at $846.2 Billion

Posted by Michael Gerrity 04/01/10 3:01 PM

According to the latest numbers released today from the U.S. Census Bureau of the Department of Commerce, U.S. construction spending during February 2010 was estimated at a seasonally adjusted annual rate of $846.2 billion, 1.3 percent (±1.3%) below the revised... Read More
City of Orlando Targets Growing Digital Media Industry for 67-Acre 'Creative Village' Redevelopment Project

Posted by Michael Gerrity 04/01/10 12:43 PM

(ORLANDO, FL) -- As the Orlando Magic NBA team transitions to its new $500M arena in the fall, the current Magic arena and surrounding buildings will become part of a large-scale commercial re-development project called the 'Creative Village'. Read More
GSA Leases All 329,251 S.F. at Trophy Washington DC Office Building

Posted by Alex Finkelstein 03/31/10 1:17 PM

Bethesda, MD-based StonebridgeCarras and Walton Street Capital of Chicago today share the honor of being one of the few office developers in the U.S. to bring a prime, Class A property to 100% occupancy in 2010. Read More
Glimcher Closes $320M Deal with Blackstone for Two Malls

Posted by Alex Finkelstein 03/29/10 1:10 PM

Columbus, OH-based Glimcher Realty Trust (NYSE: GRT) today closed on its previously discussed joint venture with The Blackstone Group for the acquisition and management of two regional malls -- Lloyd Center in Portland, OR and West Shore Plaza in Tampa, FL. Read More
CMBS Returns to the Front Loan Burner, Says John Levy

Posted by Alex Finkelstein 03/29/10 10:00 AM

Six months ago, the secondary loan market of commercial mortgage-backed securities was lifeless. Today it is back on the front burner as lenders once again are starting to sign off on new mezzanine loans. Read More
U.S. APARTMENT ROUNDUP: Marcus & Millichap Sees Sluggish First Half for 30 Multifamily Investment Markets

Posted by Alex Finkelstein 03/19/10 8:00 AM

(ENCINO, CA) -- Marcus & Millichap, which calls itself the nation's largest real estate investment firm, has scanned 30 multifamily markets in the U.S. and finds a sluggish first half for all of them. Read More
Southern California Edison Buys Countrywide's Ex-Call Center Building for $33.75M

Posted by Alex Finkelstein 03/11/10 4:05 PM

(GREENWICH, CT) -- Southern California Edison, one of Downtown Los Angeles' largest employers, has purchased a 270,000-square-foot office building in suburban Rosemead, CA, near its own L.A. headquarters site. Read More
Wells REIT II Pays Estimated $65M for Sterling Commerce Center in Columbus, Ohio

Posted by Alex Finkelstein 03/11/10 1:49 PM

(COLUMBUS, OH) -- Atlanta-based Wells REIT II has acquired the 322,000-square-foot, four-building Sterling Commerce Center in Columbus, OH, headquarters for AT&T's subsidiary, Sterling Commerce. Read More
Healthcare Trust Pays $10.7 Million for Jacksonville Medical Building

Posted by Alex Finkelstein 03/11/10 1:32 PM

(JACKSONVILLE, FL) -- Healthcare Trust of America Inc. is on an acquisition roll. The Scottsdale, AZ-based REIT paid $10.775 million or about $203 per square foot for the 53,169-square-foot King Street Medical Office Building in Jacksonville, FL. Read More
Economic Fallout Still Impacting Commercial Real Estate Investors' Mortgage Delinquency Rates

Posted by Michael Gerrity 03/11/10 10:37 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) newly released Commercial/Multifamily Delinquency Report, delinquency rates continued to increase in the fourth quarter for most commercial/multifamily mortgage investor groups. Read More
Idaho Millwork Maker Leases 160,440 SF in Atlanta

Posted by Alex Finkelstein 03/09/10 3:00 PM

(ATLANTA, GA) -- Woodgrain Distribution, a 56-year-old millwork manufacturer based in Fruitland, ID, has leased 160,440 square feet of distribution space at a DCT Industrial Trust (NYSE:DCT) property in northeast Atlanta.DCT's prepared statement didn't disclose lease terms but Atlanta brokers... Read More
GENERAL GROWTH UPDATE: Two Largest Creditors Agree to Hand out Almost $4B to Help Mall Owner Exit Bankruptcy

Posted by Alex Finkelstein 03/09/10 12:20 PM

(CHICAGO, IL) -- The sky is looking clearer today for General Growth Properties (NYSE: GGP) as its two largest creditors agree to pump a total $3.925 billion into the bankrupt mall owner's cash pipeline. Read More
Healthcare Trust of America Beefs Up Portfolio with Buys in Atlanta and Englewood, CO

Posted by Alex Finkelstein 03/08/10 8:00 AM

(ATLANTA, GA) -- Healthcare Trust of America Inc. has increased its total portfolio to over 500,000 square feet with new acquisitions in Atlanta and Englewood, Co. In Atlanta, HTA, based in Scottsdale, AZ, paid $19.55 million or $243 per square foot for a 94%-leased, Read More
RECI Sees More Bankers and Life Companies Returning to Realty Capital Scene by Summer

Posted by Alex Finkelstein 03/05/10 11:42 AM

(CHICAGO, IL) -- The non-profit Real Estate Capital Institute is seeing strong signs of increasing activity in the real estate capital markets by this summer.Nat Zvislo, Research Director of the Chicago-based organization, states, "painfully slow rebound ignites mild excitement in... Read More
DUBAI UPDATE: Dubai World Loses Trophy Manhattan Knickerbocker Building to Lender

Posted by Alex Finkelstein 03/03/10 3:13 PM

Knickerbocker Building (NEW YORK, NY) -- Financially hard-hit Dubai World has lost another trophy property to a lender. This time around it was the legendary, 94-year-old, 300,000-square-foot, 10-story Knickerbocker Building in Manhattan's Times Square district.Danske Bank A/S of Copenhagen... Read More
Hines Wins Top EPA Energy Award for Third Time

Posted by Alex Finkelstein 03/01/10 4:00 PM

Gerald Hines (HOUSTON, TX) -- Hines, a privately owned international commercial real estate developer based in Houston, TX, has been recognized by the U.S. Environmental Protection Agency EPA as a Partner of the Year for the sixth time and the... Read More
Hotel Industry Posts Mixed Results in February

Posted by Michael Gerrity 03/01/10 10:53 AM

(HENDERSONVILLE, TN) -- According to Smith Travel Research, the U.S. hotel industry reported mixed results in the three key measurements during the week of 14-20 February 2010.In year-over-year measurements, the industry's occupancy ended the week with a 2.4-percent increase to... Read More
U.S. Government Reports Annualized Construction Spend Rate at $884.1 Billion

Posted by Michael Gerrity 03/01/10 10:50 AM

(WASHINGTON, DC) -- According to the U.S. Census Bureau of the Department of Commerce, construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent (±1.1%) below the revised December estimate of $889.6... Read More
Ladder Capital Closes Four Deals Totaling Over $40 Million in Last 60 Days

Posted by Alex Finkelstein 03/01/10 9:00 AM

(NEW YORK, NY) -- Ladder Capital Finance LLC, a 15-month-old special finance company that says it focuses on distressed opportunities, has closed four commercial real estate transactions totaling over $40 million since the start of 2010.They are:A 5-year fixed rate... Read More
California Governor Selling 24 Office Buildings, Largest Deal of its Kind in Decades

Posted by Alex Finkelstein 02/26/10 3:18 PM

(LOS ANGELES, CA) -- In the largest deal of its kind in decades, California is selling 24 state-owned office buildings totaling about 7.3 million square feet ... Read More
Inland Unit Buys Kissimmee, FL Retail Center for $12.4M or $175 Per SF

Posted by Alex Finkelstein 02/25/10 9:00 AM

Pleasant Hill Commons shop center, Kissimmee, FL (KISSIMMEE, FL) -- Inland Diversified Real Estate Trust, Inc., part of the Inland Real Estate Group of Companies, Inc. based in Oak Brook, IL, has acquired the two-year-old, 70,642-square-foot Pleasant Hill Commons shopping... Read More
General Growth Properties Plans to Exit Bankruptcy by Splitting Company in Half

Posted by Alex Finkelstein 02/24/10 3:28 PM

Here are the plan's highlights:New company would be called General Growth OpportunitiesToronto-Based Brookfield Asset Management Inc. would be largest shareholder.Brookfield kicking in total $2.63 billion.Brookfield pledges to buy 30% of new GGP company's shares at $10 per share for... Read More