Developer Driven to Brink of Ruin
September 25th, 2009Developer Bonita Bay is on the verge of collapse because of a battle that’s pitting residents against each other and the company that sold them lavish dream homes during the height of the boom.
Marriott Exits Time-Share Development
September 24th, 2009Marriott’s disclosure that it will stop developing new timeshare projects and write down the value of such properties under construction by $760 million marks the beginning of the next phase of the shakeout in the vacation-home industry.
Recession Levies Hefty Punishment on CRE Property Values
September 23rd, 2009The number of financially wounded property assets continue to pile up as the recession (waning though it appears to be) continues exact a punishing toll on commercial real estate, with many properties now seriously overvalued and overleveraged. In this…
Bank Watch: FBOP Ordered To Cut CRE Exposure in a Hurry
September 23rd, 2009FBOP Corp., an Oak Park, IL-based bank holding company that owns and controls nine banks across the U.S., entered into a cease and desist order with the Federal Reserve Bank of Chicago.
The order gives FBOP 30 days to come up with a plan to reduce…
Corus Auction Augurs Property ‘Mark’
September 23rd, 2009About 10 investors are expected to submit bids for $5 billion in condo loans and other property held by the failed Corus Bank, in a key test of commercial real-estate values.
Tribal Casino Rules Revisited
September 23rd, 2009The Obama administration may make it easier for Indian tribes to build casinos on land far from their reservations, a move likely to spur a wave of new casino development.
Zell Sells Low in Kansas
September 23rd, 2009Black & Veatch closed to buy its world-wide headquarters building for $60 million from Sam Zell’s private investment arm. That is just half of what it would cost to build now.
Hong Kong Luxury Condos Shimmer
September 23rd, 2009Amid a boom in Hong Kong’s property market, luxury apartments in the once-unglamorous Kowloon district have suddenly become some of the most expensive properties on the planet.
Europe’s Real-Estate Firms Rebound
September 23rd, 2009Only a few months ago, many of Europe’s listed property companies seemed headed for a train wreck. But now there is almost daily news to confirm the industry is returning to health.
India’s Property Stocks Get Hot
September 23rd, 2009India’s real-estate companies are attracting hundreds of millions of dollars from foreign investors, but the developers also are facing new scrutiny.
