CoStar’s Retail News Roundup: January 17-30, 2010
January 25th, 2010This week in the Retail Roundup, CoStar reports on expansions or new concepts at Bloomingdale’s, BabuSan, Target, and Edible Arrangements; closings, cutbacks, bankruptcy, default, receivership or foreclosure news at General Growth, Movie Gallery and…
Tishman Abandons Stuyvesant Deal
January 25th, 2010A group led by Tishman Speyer has decided to give up the sprawling Peter Cooper Village and Stuyvesant Town Manhattan apartment complex to its creditors.
FDIC Chief: CRE Delinquencies, Bank Failures to Keep Rising
January 22nd, 2010Federal Deposit Insurance Corp. Chairman Sheila C. Bair said she expects that banks will see higher delinquency and charge-off rates on commercial real estate loans which will likely lead to escalating bank failures in coming quarters.
CRE credit…
Movie Gallery May Close Another 1,000 Stores
January 22nd, 2010Movie Gallery Inc. could close another 1,000 stores, and/or file Chapter 11 (again) in efforts to restructure the company, reported the Wall Street Journal, citing people familiar with matter. However, a bankruptcy or official number of closures has yet…
Barbados Shores Up Four Seasons
January 21st, 2010Barbados is bailing out the troubled Four Seasons luxury-resort development on the tiny island by guaranteeing a $60 million bank loan to help restart construction.
Citigroup Aims to Sell Japan Ski Resort
January 21st, 2010The likely buyer would come from a non-Japanese Asian country.
Icahn Wins Bid for Fontainebleau
January 21st, 2010Carl Icahn is poised to take control of the Fontainebleau Las Vegas, a stalled casino hotel development on the Las Vegas Strip.
Trizec, Equity Office Veteran Callahan Launching New Office REIT
January 21st, 2010Timothy H. Callahan is getting back in the REIT arena. The former president and CEO of two former publicly traded REITs, Trizec Properties and Equity Office Properties Trust, filed registration papers to launch his own office REIT: Callahan Capital Properties…
Uno Chicago Grill Files Bankruptcy
January 21st, 2010Uno Restaurant Holdings Corp. filed for bankruptcy protection on Jan. 20, 2010.
The company said it posted a $22.2 million net loss in 2009. The company’s CFO commented, “As the national economy suffered and consumers cut discretionary spending, Uno…
Goldman Subprime Fallout Hits Home
January 20th, 2010In Fort Mill, S.C., people hoped the subprime-mortgage industry would retool the economy. But jobs that popped up in the housing bubble have disappeared — and residents are struggling to make ends meet.
