Real Money: Tishman Speyer Office Fund Restructures Debt; To Sell 1 Property
October 7th, 2009Tishman Speyer Office Fund, an Australian-traded REIT that owns 18 office buildings in 11 U.S. cities, has restructured its U.S. debt. The restructuring provides significant financial covenant relief, and also provides cross-default relief in respect…
Hotel Feud Prompts Grand Jury Probe
October 7th, 2009A federal grand jury is investigating whether Hilton and former executives should face charges for allegedly stealing documents from Starwood.
Fed Frets Over Commercial Real Estate
October 7th, 2009U.S. banks are slow to take losses on battered commercial real-estate loans, said a Fed report, and with low loan-loss reserves risk a replay of the bust in the housing market now hitting the sector.
Is REIT Rally Rooted in Reality?
October 7th, 2009Share prices of REITs re now trading at prices greater than the value of the underlying assets — for the first time since the heyday of the real-estate boom.
Office Rents Dive, Vacancies Rise
October 7th, 2009Office rents are falling at the fastest pace in more than a decade as vacancies create a glut and landlords slash prices to attract tenants.
Starwood Sees Payoff in Patience
October 7th, 2009Starwood Capital Group has a relatively straightforward game plan for the distressed condo assets of Corus Bank: wait until the market recovers.
Fed Ratchets Up Warnings on Commercial Real Estate Debt
October 7th, 2009Two officials from the U.S. Federal Reserve issued strong signals this week that the central bank is very concerned over the banking industry’s exposure to commercial real estate loans and considers it to be a major stumbling block to the road to economic…
Sharp Drop in New Supply Has Broad Impact for Retail Property Sector
October 7th, 2009The degree to which new retail development has slowed across the country is quite remarkable. The level of retail property under construction in nearly every market across the country is well below historical averages and CoStar is forecasting that the…
Property Agents Rethink Plans
October 7th, 2009Colliers CRE is getting clobbered by declining revenue and is scrambling to raise new capital, a sign of how the slowdown in sales and leasing transactions is hurting real-estate service and brokerage businesses.
Lease Up/Lease Down (Oct. 4-10) WorleyParsons Expands, GM Stays Put
October 7th, 2009News of corporate expansions, relocations, extensions, closures, layoffs and lease cancellations has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source for business…
