Banks Report Troubled CRE Loans, REO Properties Reach $44.4 Billion
September 2nd, 2009After returning to profitability in the first quarter of this year, U.S. banks and thrifts fell back into the red in the second quarter with performance of their commercial real estate portfolios being one of the major drags on their continued rebound…
FDIC Reports Troubled CRE Loans, REO Properties Reach $44.4 Billion
September 2nd, 2009After returning to profitability in the first quarter of this year, U.S. banks and thrifts fell back into the red in the second quarter with performance of their commercial real estate portfolios being one of the major drags on their continued rebound…
Bank Watch: Bank of Cascades Hit with a Cease & Desist
September 2nd, 2009Bank of the Cascades in Bend, OR, entered into a cease and desist order with the Federal Deposit Insurance Corp. (FDIC) and the Oregon Division of Finance and Corporate Securities that requires the bank to take measures to strengthen the bank’s financial…
Lease Cancellations: Reader’s Digest Writes The End to Several Leases
September 2nd, 2009The Reader’s Digest Association Inc. filed voluntary pre-arranged petitions under Chapter 11 of the U.S. Bankruptcy Code on Aug. 24. Prior to the filing, more than 80% of the company’s senior secured lenders had agreed in principle on the terms of a restructuring…
Layoffs & Closures: Postal Service Looking To Cut $6 Bil. in Costs thru Layoffs, Property Disposals
September 2nd, 2009As part of a massive ongoing effort to cut costs, the U.S. Postal Service has negotiated an agreement with two of its employee unions to offer As many as 30,000 employees a financial incentive to retire or resign before the end of the fiscal year.
The…
Hotel, 68% Off
September 2nd, 2009A vacant, upscale hotel in Stockton, Calif., provides a glimpse of what awaits some hotel owners and lenders amid the industry’s worst downturn in decades.
Chinese Developers Race to Launch IPOs
September 2nd, 2009China’s property developers and their Wall Street backers are rushing to raise billions of dollars in IPOs, rescuing real-estate investments that just months ago were considered victims of the economic crisis.
Maui Prince Hotel Faces Foreclosure
September 2nd, 2009Maui Prince Hotel is the target of foreclosure proceedings just two years after a Morgan Stanley real-estate fund and local developers bought it for $575 million.
Real Money: ProLogis, Forest City Make Adjustments
September 2nd, 2009In this week’s issue:
ProLogis reduces and amends its Senior Credit Facility
Forest City extends and modifies its financing for the Ridge Hill project
Plus we give you new property finance deals and a valuable leads list of lenders on recent acquisitions
ProLogis…
Takeovers & Tenancy: Spider-Man Still Protecting New York… For Now
September 2nd, 2009Could Marvel’s merger with Disney take down its Manhattan leases? Will 2011 mean the end of 70 years of New York City tenancy? Will a new state-of-the-art soundstage go silent?
All of these are tongue-in-cheek questions being pondered following the…
