Starwood to Relocate Its Headquarters to Connecticut
November 19th, 2009Starwood will move its corporate headquarters to Stamford, Conn., from New York’s Westchester County, after receiving state government incentives worth as much as $89.5 million.
New York Landmark Burns Its Investors
November 19th, 2009The U.S. real estate arm of Africa Israel Investments has tentatively agreed with creditors to restructure its disastrous acquisition of the former New York Times headquarters in a deal that will wipe out $400 million in debt.
Starwood Hotels Checking in for Long Stay in Stamford
November 19th, 2009Starwood Hotels & Resorts Worldwide Inc. is bringing 800 jobs to Stamford, CT, moving its headquarters to the Harbor Point area in 2012.
The hotel giant, which owns the Sheraton, W, St. Regis and Westin lines, leased 250,000 square feet from Building…
Starwood Hotels Checking In for Long Stay in Stamford
November 19th, 2009Starwood Hotels & Resorts Worldwide Inc. is bringing 800 jobs to Stamford, CT, moving its headquarters to the Harbor Point area in 2012.
The hotel giant, which owns the Sheraton, W, St. Regis and Westin lines, is taking 250,000 square feet at 333 Ludlow…
Investors Bullish on Health Care Real Estate as Reform Showdown Draws Closer
November 18th, 2009With the mammoth health care reform package hanging in the balance, medical real estate companies will enter 2010 in the throes of debate over the legislation’s potential impact on their business, especially those owning and occupying hospitals and hospital…
Developers Diversified, Goldman Sachs Put CMBS Deals Back in Action
November 18th, 2009The first new-issue commercial mortgage backed securities (CMBS) supported by brick-and-mortar properties in nearly two years successfully sold this week.
DDR Depositor LLC Trust 2009 Commercial Mortgage Pass Through Certificates, series 2009-DDR1…
Office Delinquencies Latest Driver of CMBS Troubles
November 18th, 2009Job losses and subsequent office loan defaults, coupled with continued hotel underperformance, resulted in another monthly increase in U.S. CMBS delinquencies. And new matured balloons and past due loans secured by interests in non-traditional assets…
Starwood Property Trust Begins Investing $900 Million Slowly, Selectively
November 18th, 2009In its first quarterly report as public entity, Starwood Property Trust posted a net loss of $1.9 million. The results were affected by the recognition of $800,000 of non-cash, stock-based compensation in the period.
“We are generally pleased with…
Bank Watch: U.S. Steps Up Efforts To Seize Iran-Controlled Bank Melli’s U.S. Properties
November 18th, 2009The United States Attorney for the Southern District of New York is looking to take over control of the 36-story, 336,000-square-foot 650 Fifth Ave. high-rise in Midtown Manhattan, as well as other properties across the country, together totaling hundreds…
Real Money (Nov. 19): Capital Raisings, Property Financings
November 18th, 2009Toys “R” Us Inc. priced $725 million aggregate principal amount of senior secured notes due 2017 to be issued by Giraffe Properties LLC, which will be renamed Toys “R” Us Property Company II LLC, one of its indirect wholly-owned subsidiaries. The notes…
