Chinese Developers Race to Launch IPOs
September 2nd, 2009China’s property developers and their Wall Street backers are rushing to raise billions of dollars in IPOs, rescuing real-estate investments that just months ago were considered victims of the economic crisis.
Maui Prince Hotel Faces Foreclosure
September 2nd, 2009Maui Prince Hotel is the target of foreclosure proceedings just two years after a Morgan Stanley real-estate fund and local developers bought it for $575 million.
Real Money: ProLogis, Forest City Make Adjustments
September 2nd, 2009In this week’s issue:
ProLogis reduces and amends its Senior Credit Facility
Forest City extends and modifies its financing for the Ridge Hill project
Plus we give you new property finance deals and a valuable leads list of lenders on recent acquisitions
ProLogis…
Takeovers & Tenancy: Spider-Man Still Protecting New York… For Now
September 2nd, 2009Could Marvel’s merger with Disney take down its Manhattan leases? Will 2011 mean the end of 70 years of New York City tenancy? Will a new state-of-the-art soundstage go silent?
All of these are tongue-in-cheek questions being pondered following the…
Rolls-Royce to Launch $100M Aircraft Engine Parts Plant in Virginia’s Prince George Co.
September 2nd, 2009Rolls-Royce North America is ready to begin the $100 million construction of Crosspointe, its new aircraft components manufacturing facility in Prince George County, Virginia.
This first building at Crosspointe will be a 140,000-square-foot disc manufacturing…
Institutional Investors Back In Play With New Funds and REITs
September 2nd, 2009The recent rash of well-established commercial real estate companies launching investment vehicles intended to become non-traded REITs will likely provide a much-needed boost to the commercial real estate investment sales market. At this time, several…
Tranche Warfare: Mezzanine Lenders Stepping Into Foreclosure Fray
September 2nd, 2009Battles between junior and senior players in the commercial property mortgage capital stack are heating up as lenders try to avoid having their investments wiped out by the wave of troubled loans reaching maturities.
Mezzanine debt holders have been…
Samsonite Closing Up to 84 U.S. Stores in Bankruptcy
September 1st, 2009The world’s largest luggage company, Samsonite, put its U.S. retail division into bankruptcy on Sept. 2, 2009. Kyle Gendreau, the treasurer of Samsonite Company Stores and CFO of Samsonite Corp. said in a statement, “The recession caused a severe decline…
Vornado Deals 1999 K St. for $208 Million
September 1st, 2009In the Washington, DC, region’s largest property sale this year, Vornado Realty Trust has dealt its newly developed office building at 1999 K St. NW to the German investment fund Deka Immobilien Investment GmbH for nearly $208 million, or a whopping…
Commercial Real Estate Portends Crisis
September 1st, 2009Fed and Treasury officials are scrambling to prevent the commercial-real-estate sector from delivering a roundhouse punch to the U.S. economy as it struggles to recover.
