Citigroup Gets Burned in the Caribbean
September 2nd, 2010The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.
CoStar Repeat Sale Indices: Distress Contributing to a ‘Shaky Bottom’ for CRE Sales, Pricing
September 1st, 2010The CoStar Commercial Repeat-Sale Indices (CCRSI), produced by CoStar Group, found that investment-grade property continued to decline in value for the second straight month in July.
Properties of sufficient quality and size for inclusion in large…
Tenants, Landlords Could Face Dramatic Changes from New Lease Accounting Rules
September 1st, 2010Northrop Grumman Corp.’s decision in July to relocate its corporate headquarters from Los Angeles to a 14-story, 334,385-square-foot building it acquired in Falls Church, VA, was a huge economic development victory for Fairfax County and the state of…
Bank Watch: Regulator Says Bankers, Not Bricks, Main Reason Behind Most Bank Failures
September 1st, 2010Don’t blame the current wave of bank failures on commercial real estate; much of the blame belongs to bad bankers.
While it is clear that commercial real estate and construction and land development loans have figured in most every bank failure in…
New Resorts Owners Roll Dice
September 1st, 2010Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.
Capital Freeze Thaws for Real-Estate Funds
September 1st, 2010Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.
Corio’s Turkish Strategy Stumbles
September 1st, 2010The Dutch company’s expansion has yielded disappointing results due to the weak economy, competition and the difficulties of exporting Western shopping concepts to a country steeped in different traditions.
Latest CMBS Data Show More Secondary Markets Doing Better Than Some Larger Markets
August 31st, 2010The summer has brought little relief to metro areas experiencing the most distress on loans held in the commercial mortgage-backed securities (CMBS) universe. However, two markets have seen a noted improvement in their respective levels of CMBS loan distress…
Street Jumps on Property
August 31st, 2010Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.
Deloitte Leases 166,435 SF in San Francisco
August 31st, 2010Deloitte finalized its 15-year, 166,435-square-foot lease with Tishman Speyer at 555 Mission St. in San Francisco. The major international accounting and consulting firm will occupy nine full floors (four through seven and 10-15) with a move in date scheduled…
