Commercial RE News
Helmsley Estate Sells Manhattan Hotel
The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million.
Categories: Commercial RE News
General Growth Debt Bet Pays Off
A handful of investors dug to the bottom of the discount bin and snapped up General Growth's convertible bonds at three cents on the dollar. They now trade at 103 cents.
Categories: Commercial RE News
European REIT Rollout at Hand
With European property markets beginning to recover from the market downturn and global recession, there are signs that the REIT revolution could be at hand.
Categories: Commercial RE News
BofA Ends Some Overdraft Fees
Bank of America plans to announce that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead of a sweeping round of regulations.
Categories: Commercial RE News
BofA Lawyers Rebuked in Cabi Case
BofA lawyers have agreed to reimburse lawyers for a Miami developer after a judge's rebuke for trying "to score a litigation point" in an ongoing foreclosure dispute.
Categories: Commercial RE News
Apollo Signs Citigroup Deal
Apollo's purchase of Citigroup's real-estate investment business would give Joseph Azrack a second tour of duty.
Categories: Commercial RE News
Marriott Expands in Europe
Forty thousand more hotel rooms on the Continent would have Marriott brand names in the next few years under the company's plan.
Categories: Commercial RE News
CoStar's Deals of Note for Tuesday
CHICAGO
UBS Renews, Consolidates in Chicago
By Andrew Deichler
UBS is extending its stay at One North Wacker Drive in Chicago, also known as the UBS Tower. The Swiss financial services firm has renewed for 400,000 square feet in the office tower...
Categories: Commercial RE News
General Growth Lines Up More Capital
Mall owner General Growth Properties has bolstered its case for exiting from bankruptcy protection as a stand-alone company.
Categories: Commercial RE News
Farkas Closes Deal to Buy Centerline
The New York real-estate investor will buy one of the nation's largest commercial-mortgage-servicing specialists for $100 million in new equity and assuming $180 million of Centerline's debt.
Categories: Commercial RE News
In The Pipeline: CoStar Development and Construction News for March 7-13
In this week's edition of In The Pipeline, Forest City's Atlantic Yards mixed-use project is scheduled to finally break ground this week. Meanwhile, another long delayed development project, the Guasti Historic District in Ontario, CA,has begun with...
Categories: Commercial RE News
U.K. REIT Plans IPO
Metric Property Investments hopes to raise £150 million in an IPO on the London Stock Exchange's main market as it seeks to take advantage of the sharp downturn in property values.
Categories: Commercial RE News
CoStar's Retail News Roundup: Mar. 7 - 13, 2010
This week in the Retail Roundup, CoStar reports on expansions or new concepts at TJX Companies and Kohl's; closings, cutbacks, bankruptcy, default, receivership or foreclosure news at Swoozie's and the Northgate Mall; acquisition, merger, loan, sale...
Categories: Commercial RE News
China Vanke's Property Sales Slip
China's largest property developer by market share said sales fell in February for the first time in 11 months. The slowdown was anticipated after the government introduced measures to cool off the real-estate market.
Categories: Commercial RE News
CBRE Names CFO; Turns Over Reins of Private Client Group
Gil Borok was promoted to chief financial officer of CB Richard Ellis Group Inc. He takes over from Bob Sulentic who will continue as CBRE’s president running day-to-day operations and principal business activities worldwide. Both will report to CEO Brett...
Categories: Commercial RE News
CoStar's People of Note (Feb. 28-March 6)
This week's People of Note includes the following markets: Atlanta, Boston, Chicago, Dallas/Fort Worth, Houston, Los Angeles, National, Northern New Jersey, Phoenix, St. Louis and Tampa/St. Petersburg.
NATIONAL
CBRE Names CFO; Turns Over Reins of...
Categories: Commercial RE News
General Growth Wins Plan Extension
A federal judge hearing mall owner's bankruptcy reorganization grants it four more months of exclusive control over its fate, against the objection of some suitors and creditors.
Categories: Commercial RE News
Trust Not Enough for Integrity Bank
The FDIC is investigating loan practices at Georgia's Integrity Bank, which was seized in 2008 after loaning all its capital to the owner of Casa Madrona Hotel & Spa in California.
Categories: Commercial RE News
Banks Begin to Rein In Branch Boom
Say goodbye to the building boom that made it seem like there was a bank branch on every corner. The total number of branches in the U.S. is on pace to decline for the first time since 2002.
Categories: Commercial RE News
Multifamily-Home Builders Inch Back
Operators are betting that limited new supply, combined with an improving economy, will lead to ideal market conditions nationwide starting in 2011 or 2012.
Categories: Commercial RE News
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