Stimulus Holds Peril for Firms
September 8th, 2009Hinman is in an enviable position for a recession-era business: It’s too busy, largely because of the government’s $787 billion stimulus program.
8 Things You Need to Know About LEED Credentialing Changes
September 8th, 2009With major changes occurring to LEED credentialing — including the popular LEED Accredited Professional (AP) designation — CoStar News combed through pages of rule changes, tuned in to instructional webcasts, and spoke with Peter Templeton, president…
Debt Clouds Future of Fontainebleau
September 4th, 2009South Florida’s Soffer family is grappling with troubles at the fabled Miami Beach Fontainebleau hotel, which has breached the covenants of a $670 million construction loan.
Macerich Strikes $116M Deal For Flatiron Crossing Mall with GI Partners
September 3rd, 2009GI Partners has entered into a joint venture relationship with Macerich (NYSE:MAC), to buy a 75% share in the REIT’s FlatIron Crossing Mall in Broomfield, Colorado, for $116 million. In a statement, Macerich president Edward Coppola said that this transaction…
FDIC Reports Troubled CRE Loans, REO Properties Reach $44.4 Billion
September 2nd, 2009After returning to profitability in the first quarter of this year, U.S. banks and thrifts fell back into the red in the second quarter with performance of their commercial real estate portfolios being one of the major drags on their continued rebound…
Banks Report Troubled CRE Loans, REO Properties Reach $44.4 Billion
September 2nd, 2009After returning to profitability in the first quarter of this year, U.S. banks and thrifts fell back into the red in the second quarter with performance of their commercial real estate portfolios being one of the major drags on their continued rebound…
Bank Watch: Bank of Cascades Hit with a Cease & Desist
September 2nd, 2009Bank of the Cascades in Bend, OR, entered into a cease and desist order with the Federal Deposit Insurance Corp. (FDIC) and the Oregon Division of Finance and Corporate Securities that requires the bank to take measures to strengthen the bank’s financial…
Lease Cancellations: Reader’s Digest Writes The End to Several Leases
September 2nd, 2009The Reader’s Digest Association Inc. filed voluntary pre-arranged petitions under Chapter 11 of the U.S. Bankruptcy Code on Aug. 24. Prior to the filing, more than 80% of the company’s senior secured lenders had agreed in principle on the terms of a restructuring…
Layoffs & Closures: Postal Service Looking To Cut $6 Bil. in Costs thru Layoffs, Property Disposals
September 2nd, 2009As part of a massive ongoing effort to cut costs, the U.S. Postal Service has negotiated an agreement with two of its employee unions to offer As many as 30,000 employees a financial incentive to retire or resign before the end of the fiscal year.
The…
Hotel, 68% Off
September 2nd, 2009A vacant, upscale hotel in Stockton, Calif., provides a glimpse of what awaits some hotel owners and lenders amid the industry’s worst downturn in decades.
