Commercial Property News
News
Global Crisis Douses Hawaii Tourism
High fuel prices, the bankruptcy filings of Aloha and ATA, and the nationwide slump in consumer confidence have slammed Hawaii's tourism industry.
Future of Fannie, Freddie Debated
Debate is heating up on the future of Fannie Mae and Freddie Mac as they struggle with heavy losses and investors continue to shy away from their debt.
Companies in Europe Batten Down Hatches
Many European real-estate companies are not only disclosing weaker results but also announcing new business strategies designed to ride out the recession.
Feldman's End Game
Distressed-mall buyer Feldman may have found a way to ease its own distress without declaring bankruptcy. But few, if any, investors will come out whole.
Corus Will Defer Payments
Corus said it is deferring interest payments on $405 million of junior subordinated debentures and is seeking money from the Treasury Department's $700 billion rescue fund.
Hypo Real Estate Forecasts Grim Outlook
Hypo Real Estate reported a larger-than-expected loss in the third-quarter and said its outlook for the remainder of the year and beyond looked grim.
DBSI Failure Shows Spread of Turmoil
The collapse of DBSI, a real-estate firm that catered to mom-and-pop investors, shows how pain in the commercial-property market is spreading.
LaSalle Orders 20% Cut in Hotel Staffing
LaSalle Hotel Properties told its management companies to cut their work forces by 20%, a day after the company rescinded its 2008 guidance.
Goldman Losing Real-Estate Guru
Stuart Rothenberg is leaving his job as head of Goldman Sachs Group Inc.'s real-estate investment division, which has raised some $26 billion for its real-estate funds since 1991.
Sands Project Causes Worry
A large unfinished project in Singapore involving Las Vegas Sands has the city-state making contingency plans.
Dubai Faces Hit as Property Boom Fades
Dubai's property boom appears finally to be over, with asking prices for some homes falling as much as 19% in October from the previous month.
ProLogis CEO Resigns
The resignation of the chief executive of the world's largest warehouse developer is another sign of pessimism toward the economy.
Calpers Confronts Huge Housing Losses
Calpers is taking a hit from the real-estate market, which is roiling its investments in land and housing projects.
Investors Dump Mall, Industrial REITs
The latest meltdown in shares of mall and industrial REITs underscores the concern over a sharp, global economic slowdown in the wake of more dismal news from the retail sector.
Toll Brothers Sales Sink to New Low
Toll Brothers' orders fell 27% last month as job cuts and the financial crisis caused a wave of cancellations.
Residential-TIC Tack Hits Snags
Tenant-in-common structures on residential buildings are proving a tough sell in a difficult housing market.
Slump Infiltrates German Funds
The forces hammering property markets around the world have finally cracked Germany's open-ended real-estate funds.
Trump Files Suit Against Lenders
Donald Trump filed suit against the lenders on his unfinished Chicago skyscraper.
Mall Owner Is Warning of Default
Mall owner General Growth Properties warned that its failure to refinance its debt could trigger default on billions of dollars in debt.
Sands to Raise $2 Billion, Halt Casinos
Las Vegas Sands said it has secured more than $2 billion in capital-funding commitments and also will suspend casino developments.
Seller Financing Regains Favor
Developers Diversified Realty's offer to finance part of a property sale is the latest example of seller financing, which is now playing a role in more large deals.
GMAC Is Insulated From ResCap Woes
GMAC is insulated from a potential ResCap bankruptcy filing, under a pact meant to protect the mortgage unit.
CMBS Market Begins to Show Fissures
The market for debt used to finance commercial real estate tumbled on worries about rising defaults for commercial mortgage-backed securities.
Global Crisis Douses Hawaii Tourism
High fuel prices, the bankruptcy filings of Aloha and ATA, and the nationwide slump in consumer confidence have slammed Hawaii's tourism industry.
Future of Fannie, Freddie Debated
Debate is heating up on the future of Fannie Mae and Freddie Mac as they struggle with heavy losses and investors continue to shy away from their debt.
Companies in Europe Batten Down Hatches
Many European real-estate companies are not only disclosing weaker results but also announcing new business strategies designed to ride out the recession.
Feldman's End Game
Distressed-mall buyer Feldman may have found a way to ease its own distress without declaring bankruptcy. But few, if any, investors will come out whole.
Corus Will Defer Payments
Corus said it is deferring interest payments on $405 million of junior subordinated debentures and is seeking money from the Treasury Department's $700 billion rescue fund.
Hypo Real Estate Forecasts Grim Outlook
Hypo Real Estate reported a larger-than-expected loss in the third-quarter and said its outlook for the remainder of the year and beyond looked grim.
DBSI Failure Shows Spread of Turmoil
The collapse of DBSI, a real-estate firm that catered to mom-and-pop investors, shows how pain in the commercial-property market is spreading.
LaSalle Orders 20% Cut in Hotel Staffing
LaSalle Hotel Properties told its management companies to cut their work forces by 20%, a day after the company rescinded its 2008 guidance.
Goldman Losing Real-Estate Guru
Stuart Rothenberg is leaving his job as head of Goldman Sachs Group Inc.'s real-estate investment division, which has raised some $26 billion for its real-estate funds since 1991.
Sands Project Causes Worry
A large unfinished project in Singapore involving Las Vegas Sands has the city-state making contingency plans.
Dubai Faces Hit as Property Boom Fades
Dubai's property boom appears finally to be over, with asking prices for some homes falling as much as 19% in October from the previous month.
ProLogis CEO Resigns
The resignation of the chief executive of the world's largest warehouse developer is another sign of pessimism toward the economy.
Calpers Confronts Huge Housing Losses
Calpers is taking a hit from the real-estate market, which is roiling its investments in land and housing projects.
Investors Dump Mall, Industrial REITs
The latest meltdown in shares of mall and industrial REITs underscores the concern over a sharp, global economic slowdown in the wake of more dismal news from the retail sector.
Toll Brothers Sales Sink to New Low
Toll Brothers' orders fell 27% last month as job cuts and the financial crisis caused a wave of cancellations.
Residential-TIC Tack Hits Snags
Tenant-in-common structures on residential buildings are proving a tough sell in a difficult housing market.
Slump Infiltrates German Funds
The forces hammering property markets around the world have finally cracked Germany's open-ended real-estate funds.
Trump Files Suit Against Lenders
Donald Trump filed suit against the lenders on his unfinished Chicago skyscraper.
Mall Owner Is Warning of Default
Mall owner General Growth Properties warned that its failure to refinance its debt could trigger default on billions of dollars in debt.
Sands to Raise $2 Billion, Halt Casinos
Las Vegas Sands said it has secured more than $2 billion in capital-funding commitments and also will suspend casino developments.
Seller Financing Regains Favor
Developers Diversified Realty's offer to finance part of a property sale is the latest example of seller financing, which is now playing a role in more large deals.
GMAC Is Insulated From ResCap Woes
GMAC is insulated from a potential ResCap bankruptcy filing, under a pact meant to protect the mortgage unit.
