Dubai Holding, Emaar Cancel Property Merger
December 11th, 2009The developer had planned to absorb Dubai Holding’s real-estate units to lessen the impact of the collapse of Dubai’s real-estate market. The two companies said the deal wasn’t economically viable now.
CityCenter Delivers On Time
December 11th, 2009Perini Building Co. said Thursday that it has completed construction on CityCenter, MGM Mirage’s massive $8.4 billion development on the Las Vegas Strip. Despite a year of setbacks that included a class action lawsuit and significant cuts to construction…
Oncor Moving to 265,000 SF in Dallas’ CBD
December 10th, 2009Oncor signed a deal to relocate its corporate headquarters to 1616 Woodall Rodgers Freeway, a 265,061-square-foot office building in Dallas’ central business district. The electricity distributor will move more than 500 workers and consolidate operations…
Dubai: High Rise, Then Steep Fall
December 10th, 2009Dubai’s construction boom was fueled by easy credit, a poorly regulated market overrun by speculators, and cheerleading from Dubai officials.
CMBS: Back in Business?
December 9th, 2009The commercial mortgage bond securitization window that has been closed for nearly two years during this recession has reopened for business in the last few weeks and investors have lined up encouragingly to take advantage of a new round of CMBS offerings…
Bank Watch: Community Bank CRE Lending Conditions Deteriorate
December 9th, 2009Commercial real estate lending conditions for the nation’s community banks worsened again in the third quarter of 2009 compared to the second quarter of the year, according to the Commercial Real Estate Lending Index from Banc Investment Group (BIG).
The…
Real Money (Dec. 10): Capital Raisings, Property Financings
December 9th, 2009U.S. Republic Core Fund, an affiliate of USAA Real Estate Co., and the Teacher Retirement System of Texas agreed to co-invest in core and core plus office, retail and multifamily assets. The venture will target the 50 largest metropolitan statistical…
Kraft Foods Leases 937,000 SF in Columbus Area
December 9th, 2009Kraft Foods leased Rickenbacker 936, a 937,308-square foot warehouse/distribution facility in Groveport, OH, to Duke Realty Corp. Move in is scheduled for next summer.
Rickenbacker 936 is on 50 acres at 2842 – 2862 Spiegel Drive in Rickenbacker Global…
Dubai World Loses W Hotel Auction
December 9th, 2009Dubai World’s private-equity arm made a last-ditch effort to keep control of the W Hotel Union Square in Manhattan in a foreclosure auction but ended up losing the property, which it bought for $282 million.
A Big Bet on Spanish Property
December 9th, 2009Colonial’s planned debt refinancing signals an improving market.
