St. Regis Foreclosure: Sign of More Troubled Times for Hotels
July 22nd, 2009Hotel owners are under enormous economic pressure, especially those carrying a lot of maturing debt. The St. Regis Monarch Beach Resort in Orange County, CA, this week became the latest luxury hospitality property to be taken over by its lender when Citigroup…
St. Regis Foreclosure Sign of More Troubled Times for Hotels
July 22nd, 2009The St. Regis Monarch Beach resort in Orange County, CA, this week became the latest luxury hospitality property to be taken over by its lender. Citigroup Inc. seized the 400-room hotel after it fell into default on a $70 million mezzanine loan. The takeover…
Bank Watch: Two Banks Selling Their Nevada Branches To New CRE Lender
July 22nd, 2009The Colonial BancGroup Inc. in Montgomery, AL, has reached a deal to sell 21 its Colonial Bank’s Nevada branches to Global Consumer Acquisition Corp. a New York-based investment group.
Separately, Capitol Bancorp Ltd. in Lansing, MI, will sell its…
Lease Cancellations: BMHC Looks To Quit Paying on 35 Leases
July 22nd, 2009Building Materials Holding Corp. (BMHC) based in Boise, ID, is looking to cancel 35 leases through bankruptcy court reorganization. BMHC is a leading provider of building materials and construction services to professional residential builders and contractors…
In Spain, Property Bargains Abound
July 22nd, 2009Spain’s oversupply of second homes has forced brokers, developers and lenders to come up with creative ways to unload them.
DoD Research Arm Leases 350,000 SF in Northern Virginia
July 22nd, 2009The research and development arm of the U.S. Dept. of Defense is moving to a 350,000-square-foot office being developed by The Shooshan Co. in Arlington, VA, officials from Arlington County said Tuesday.
The Defense Advanced Research Projects Agency…
ImClone to Anchor Alexandria Center
July 22nd, 2009ImClone Systems has signed on to become the anchor tenant of the Alexandria Center for Science and Technology at East River Science Park.
Alexandria Real Estate signed ImClone to a 15-year, 91,000-square-foot deal, one of the Manhattan’s largest relocation…
Takeovers & Tenancy: MetLife Consolidates, Flying J and Pilot Merge
July 22nd, 2009In this week’s issue:
MetLife combines its businesses
Flying J plans a merger with Pilot to survive bankruptcy
MetLife Integration Won’t Affect Real Estate but Could Affect Jobs
MetLife Inc. said last week that it is combining its businesses into…
The Lease Up (July 19-25): ImClone to Anchor Alexandria Center
July 21st, 2009In this week’s issue:
ImClone signs on to anchor the Alexandria Center
MEDC and MEGA help create or retain 14,900 jobs in Michigan
The FDIC announces its move to the Empire State Building
Panavision consolidates in Burbank
The DoD leases 350,000…
The Lease Up (July 19-25): MEDC and MEGA Continue to Bring Companies to Michigan
July 21st, 2009In this week’s issue:
MEDC and MEGA help create or retain 14,900 jobs in Michigan
The FDIC announces its move to the Empire State Building
Panavision consolidates in Burbank
The DoD leases 350,000 square feet in Virginia
Kimberly-Clark signs a huge…
