Bank Watch: Small Business Banks Floundering
November 11th, 2009It’s a tough time being a small business lender these days. This week, Advanta Corp. joined CIT Group Inc. as a filer for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
Although Advanta Corp. has close to $100 million in cash and equivalents…
Real Money (Nov. 12, 2009): Capital Raisings, Property Financings
November 11th, 2009CBL & Associates Properties Inc. closed the extension and modification of its $560 million credit facility, maintaining 100% lending capacity. The facility was scheduled to mature in August 2011 (assuming exercise of the remaining extension option) and…
Tishman Poised for Paris Deal
November 11th, 2009Tishman is expected to announce that one of its investment funds had acquired the AXA’s Paris headquarters for roughly $95 million.
Sale to Test German Risk Appetite
November 11th, 2009The Gubbay family of the U.K. made a nice profit in 2007 when its company, Prime Commercial Properties, sold a German shopping center it had purchased one year earlier.
Banks Quick to Adopt New Loan Rules
November 11th, 2009Banks are moving quickly to restructure commercial mortgages under new guidelines that are more forgiving of battered property values.
Las Vegas Sands to Restart Macau Sites
November 11th, 2009Las Vegas Sands plans to begin preliminary work in January to restart two stalled construction sites in Macau.
Sunrise Faces Vacancies, Pile of Debt
November 11th, 2009Sunrise Senior Living, an operator of senior housing, is struggling to cope with higher vacancy rates and increasing debt, amid disappointing third-quarter results.
Retail Vacancies on the Rise
November 11th, 2009U.S. shopping centers are expected to reach 12.9% vacancy rate in next year’s fourth quarter, up from 12.2% in this year’s third quarter.
USGBC: 7.9 Million Jobs Tied to Green Construction Over Next Four Years
November 11th, 2009As the green building movement convenes this week at the annual Greenbuild International Conference & Expo in Phoenix, the U.S. Green Building Council (USGBC) issued a report providing 7.9 million reasons to support green building — jobs.
The report…
Institutional Investors Throwing Big Money Around Class A Quality Retail Property
November 11th, 2009After what’s seemed like an eternity of little or no action in the retail property investment arena, several major retail investment transactions north of $100 million have surfaced since October. Considering that news of retail property sale transactions…
