GM Signs Major Extension in Manhattan
October 4th, 2009General Motors Co. (GM) signed a 114,300-square-foot renewal at 767 Fifth Ave. in Manhattan. The new lease keeps the automaker in its namesake office tower for another 10 years.
The 50-story, 2 million-square-foot GM Building was built in 1968 in the…
InkStop Abruptly Closes All 152 Stores
October 2nd, 2009Warrensville Heights, OH-based printer ink and toner chain, InkStop, sent a letter to its employees last week that read, “The company has elected to temporarily close all stores at the close of business today, October 1, to focus on a restructuring plan…
Watergate Hotel Under Sales Contract
October 1st, 2009The famed Watergate Hotel in Washington D.C. is under contract to be sold by PB Capital to a venture led by Holland Development Group for about $40 million.
Heitman Acquiring 49.9% Interest in Two Macerich Malls for $167.5M
October 1st, 2009Macerich (NYSE:MAC) and Chicago-based Heitman have entered into a joint venture on two of Macerich’s malls — Freehold Raceway Mall and Chandler Fashion Center. Under the terms of the deal, Macerich receives $167.5 million in net cash proceeds and Heitman…
Macerich Sells Stake in Two Malls
October 1st, 2009Mall owner Macerich sold a 49.9% interest in two of its malls to real-estate investor Heitman in the third of three such sales aimed at raising capital to pare debt.
Wall Street Wizardry Reworks Mortgages
October 1st, 2009A new wave of repackaged mortgage investments, “re-remics,” are emerging as banks and insurers seek to make soured securities look better.
DEAL TERMINATED: Glimcher Realty Trust Selling Lloyd Center Mall for $192M
October 1st, 2009Updated Oct. 1 2009
Glimcher Realty Trust (NYSE: GRT) announced that Merlone Geier Partners terminated its previously announced deal to buy the REIT’s Lloyd Center Mall in Portland, Oregon. According to the release, Merlone had the option to terminate…
