New Retail REIT IPO Being Launched by Former New Plan Excel, Price Legacy Executive Team
December 31st, 2009On December 24, San Diego-based Excel Trust, Inc. filed a form S-11 with the SEC to propose an initial public offering to become a real estate investment trust traded on the New York Stock Exchange under the “EXL” symbol. In the filing, Excel did not…
Tribeca Cos. Snags S.F. Apartments
December 30th, 2009Private-equity firm buys defaulted mortgage debt at half-price and then seizes the Lembi apartments, in the latest distressed-commercial-property maneuvering.
REITs End Roller-Coaster Year on High
December 30th, 2009Real-estate stocks took investors on a wild ride in 2009 and ended the year with strong gains. Don’t count on so much excitement in 2010.
States Ratchet Up the Lures
December 30th, 2009Despite a weak economy, cities and states continue to throw millions of dollars in tax credits and upfront cash to attract companies to relocate.
Questions Surround Fannie, Freddie
December 30th, 2009The government’s move to ease the limits on the securities holdings of Fannie Mae and Freddie Mac has ignited a debate among analysts about what the companies will do with their longer leash.
Fear and Hoping in Commercial Real Estate
December 29th, 2009Hope and fear are overlapping in the commercial real estate industry on this eve of a new decade. The industry doesn’t know whether to look out for it or look forward to it.
On the one hand, the industry is grateful that 2009 is coming at long last…
Bank Watch: Imperial Capital – Not Big Enough to Not Let Fail
December 29th, 2009If you’re looking for Bank Watch: GMAC Looks To Exit Real Estate Finance Business, click here.
City National Bank acquired the banking operations of La Jolla, CA-based Imperial Capital Bank from the FDIC, after California regulators closed the $4 billion…
Real Money (Dec. 31): Capital Raisings, Property Financings
December 29th, 2009Simon Property Group Inc. entered into a new unsecured corporate credit facility providing an initial revolving borrowing capacity of $3.565 billion. This initial borrowing capacity represents an increase to the company’s existing $3.5 billion revolver…
Miami Condo Project Acts as Test Case
December 29th, 2009Lenders for the Icon Brickell in Miami face a dilemma on whether to sell whole buildings or large blocks of condos to big investors, often at steep discounts, or one by one to individuals.
Freddie HR Chief’s Big Payday
December 29th, 2009Paul George is among the mortgage company’s five highest-paid officers, with annual pay of up to $2.7 million.
