Real Money: Kennedy-Wilson To Go Public Through a Back Door; Pick Up $248 Million in Spendable Cash
September 16th, 2009Kennedy-Wilson Inc., a Beverly Hills, CA-based real estate investment and services, signed a definitive agreement to combine with Prospect Acquisition Corp., with Kennedy-Wilson being the surviving entity.
Prospect Acquisition is a publicly traded…
Sunstone to Forfeit Hotel to Lenders
September 16th, 2009REIT Sunstone will forfeit a Marriott hotel in Ontario, Calif., to the servicer overseeing the hotel’s $26.6 million securitized mortgage.
New Rules Ease Loans Restructuring
September 16th, 2009The Treasury released new tax rules that make it easier for distressed property owners to restructure loans that were packaged and sold as securities.
Ireland Seeks to Bring Bad Loans Home
September 16th, 2009The Irish government may soon be the new owner of tracts of unsold houses that speckle the Irish countryside and unfinished high-rises amid a forest of idled cranes in Dublin.
Tanning Debate
September 16th, 2009Owners of campus housing agree that the decline in demand many feared didn’t materialize. But the debate continues to rage over tanning machines, one of the amenities many dorms provide.
Buyout Fund Contemplates a REIT Turn
September 16th, 2009Richard Baker, an investor in shopping centers and retailers, raised $400 million in 2007 for a company that would buy operating businesses like restaurants and casinos but now wants to convert the company into a REIT.
Harrah’s Buys Planet Hollywood Debt
September 16th, 2009Harrah’s bought $140 million of the debt tied to the Planet Hollywood Resort & Casino in Las Vegas, giving Harrah’s a role in the fate of the struggling property.
Profit Rises at Sun Hung Kai
September 16th, 2009Property developer Sun Hung Kai Properties’ profit rose 2% as strong sales and rental income more than offset weak hotel and telecommunications operations.
A Tale of Two Cities (in London)
September 16th, 2009When Lehman Brothers collapsed last year, the rental market for office space in London went to bust faster than anyone could turn the lights off.
Shopping Center Execs Say Holding Onto Current Tenants is Top Leasing Strategy
September 16th, 2009This week, the International Council of Shopping Centers held a webinar on “Successful Leasing Strategies in a Volatile Market” featuring an esteemed panel of open-air shopping center industry executives who offered their views on effective leasing strategies…
