More Trouble for Kent Swig
March 2nd, 2010Fitch Ratings said the $75 million loan backing 80 Broad Street in Manhattan has been transferred to a special servicer because of an “imminent default.”
Mall Owner: Antitrust Isn’t Issue
March 2nd, 2010Simon Properties’ CEO says antitrust issues won’t be a problem in its bid for rival mall owner General Growth Properties.
Retailers Expected to Close Fewer Store in 2010
March 2nd, 2010Add store closings to the list of categories where ‘less bad’ has become the ‘new good.’
The International Council of Shopping Centers (ICSC) issued its latest semi-annual report on store closings and found that the huge wave of store closures that…
LaSalle Invests $95M in Sofitel Washington
March 1st, 2010LaSalle Hotel Properties, a Bethesda, MD-based hotel REIT, purchased the Sofitel Washington, DC Lafayette Square for $95 million. Gem Realty Capital Inc., a real estate investment company headquartered in Chicago, sold the 237-room property at 806 15th…
Peerless Industries Consolidating International Operations
March 1st, 2010Peerless Industries is consolidating operations, inking a full-building lease just west of Chicago. The manufacturer of television and speaker mounts plans to add about 85 jobs over the next three years, and retain its 405 local employees.
Peerless…
Berkowitz Wants to Convert Debt
March 1st, 2010General Growth’s largest unsecured creditor prefers to change his holdings to new stock at $8 a share instead of accepting offers to acquire the bankrupt company.
Equity One May Acquire Liberty International’s $560M U.S. Retail Portfolio
March 1st, 2010Liberty International Plc, the largest owner of shopping centers in the U.K., is considering selling off its U.S. office buildings and malls in an effort to reduce its U.S. exposure, according to a Feb. 24 report from Bloomberg.
Bloomberg identified…
