Franklin Street Pays $73M for Northern VA Office Bldg.
September 30th, 2009Franklin Street Properties Corp. closed on its purchase of a 252,613-square-foot office building at 3150 Fairview Park Drive in Falls Church, VA, from ING Clarion Partners LLC for $73 million, or approximately $289 per square foot.
The eight-year-old…
Credit Suisse Buys Boston Property
September 30th, 2009Credit Suisse has acquired Independence Wharf, a well-known waterfront office building in Boston, for $106 million.
Winning Hand: A Full House Beats the Recession
September 30th, 2009Just as the recession has been tougher on Main Street than on Wall Street, it has also hit two distinct types of office properties disproportionately. One type of office building has done surprisingly well, and one has suffered enormously. More than 75…
Bank Watch: Federal Reserve Puts Four More Banks on Notice
September 30th, 2009The Board of Governors of the Federal Reserve System has entered into written agreements with four bank holding companies in the past week. Written agreements set a plan in place for financial institutions to restore and maintain financial soundness within…
Wall Street’s New Magic: The ‘Re-Remic’
September 30th, 2009A new wave of financial alchemy is emerging as banks and insurers seek to make soured securities look better. Regulators are pushing back.
TALF Doubts
September 30th, 2009To see why a key government program aimed at resuscitating the securitized commercial-property debt market is off to a slow start, one need only look at the financing of a Manhattan office tower.
Real-Estate Slump Upends Property Funds
September 30th, 2009In the wake of the steep drop in values in European property markets, investors are reassessing their relationships with property-fund managers and other asset managers.
Empire Strikes Back in Casino Battle
September 30th, 2009Empire Resorts, which has been trying to develop a casino near New York City, was looking into the financial abyss last June. Today the company’s prospects are looking rosier.
Starwood Raises Extended Stay Stakes
September 30th, 2009A Starwood-led group offered to pay $3.5 billion for the first mortgage of Extended Stay, setting the stage for a bankruptcy battle.
Lower Land Prices, Rents May Lure Big Box Retailers To Reconsider Certain Markets, Locations
September 30th, 2009At its annual investor and analyst conference last week, Lowe’s announced its growth strategies for the year ahead.
During 2009, the home improvement retailer said it expects to spend $50 million to open 62 to 66 new stores, growing square footage…
