Troubled CRE Assets on Banks’ Books Double to $34 Billion
June 3rd, 2009The amount of troubled loans on income-producing commercial real estate property is rising rapidly at the nation’s bank and thrift institutions. The total is now more than double what it was a year ago with the bulk of the increase occuring in the first…
Banks Troubled CRE Assets Double to $34 Billion
June 3rd, 2009The amount of troubled loans on income-producing commercial real estate property is rising rapidly at the nation’s bank and thrift institutions. The total is now more than double what it was a year ago with the bulk of the increase occuring in the first…
GM To Emerge as Much Leaner “New GM”
June 3rd, 2009The long anticipated GM Chapter 11 bankruptcy reorganization is now under way in cooperation with the U.S. Treasury. GM filed bankruptcy for its U.S. operations and plans to emerge as the “New GM” within 60 to 90 days. GM secured a new, $33 billion debtor…
Bank Watch (May 31-June 6): CRE Lender Capmark Completes Major Refinancing
June 3rd, 2009Capmark Financial Group Inc., the parent holding company of Capmark Bank in Midvale, UT, has completed a financial restructuring. Capmark Financial based in Horsham, PA, entered into a new $1.5 billion term loan facility and amendments to its existing…
Lease Cancellations (May 31-June 6): Auto Suppliers Cutting Rent Expenses
June 3rd, 2009Tenet Not Renewing Hospital Lease in Louisiana
Tenet Healthcare Corp. based in Dallas will not be renewing its lease for its NorthShore Regional Medical Center at 100 Medical Center Drive in Slidell, LA, with real estate investment company HCP Inc. The…
Closures & Layoffs (May 31-June 1): Nikon, Revlon Downsize
June 3rd, 2009Nikon Corp. based in Tokyo, Japan, is implementing a global business locations reorganization. In the U.S., the plans will affect Nikon Precision Inc., whose marketing and servicing operation will be unified and streamlined as much as possible with Nikon…
TALF Requests Reach $11.5 Billion as CMBS Issues Become Eligible
June 3rd, 2009With commercial mortgage securities poised to become eligible for government help later this month, investor interest in the Federal Reserve’s fledging loan program to restore liquidity to frozen capital markets reached a new high in the latest round…
TALF Requests Reach $11.5 Billion Despite Threat of S&P Downgrades
June 3rd, 2009With commercial mortgage securities poised to become eligible for government help later this month, investor interest in the Federal Reserve’s fledging loan program to restore liquidity to frozen capital markets reached a new high in the latest round…
Credit Union to Build 240,000-Sq-Ft Office Tower in Raleigh
June 3rd, 2009The North Carolina State Employees’ Credit Union (SECU) has unveiled plans to build a 12-story branch and office facility on Salisbury Street in the State Government Complex in downtown Raleigh, NC.
The new 240,000-square-foot building will include…
Small Retailers Seize Opportunities to Expand in Down Real Estate Market
June 3rd, 2009With unemployment at an all time high and even former top level executives and experienced managers among the ranks of the unemployed finding it difficult to secure comparable employment, it appears many are making the decision to become their own boss…
