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Business / Commercial real estate

Morgan Unloads Crescent

Morgan Stanley closed the book on its disastrous $6.5 billion acquisition of Crescent Real Estate Equities by handing the keys to lender Barclays.
Real Estate Journal Sat, 21 Nov 2009 20:45:26 EST

CoStar's People of Note (Nov. 15-21)

This week's People of Note includes the following markets: Hartford, Los Angeles, New York City and Westchester/South Connecticut. LOS ANGELES Lee Opens Long Beach Branch; Names Gill Pres. Lee & Associates officially opened its office in Long Beach...
CoStar Group Fri, 20 Nov 2009 02:25:02 GMT

New York Landmark Burns Its Investors

The U.S. real estate arm of Africa Israel Investments has tentatively agreed with creditors to restructure its disastrous acquisition of the former New York Times headquarters in a deal that will wipe out $400 million in debt.
Real Estate Journal Thu, 19 Nov 2009 11:26:45 EST

Starwood to Relocate Its Headquarters to Connecticut

Starwood will move its corporate headquarters to Stamford, Conn., from New York's Westchester County, after receiving state government incentives worth as much as $89.5 million.
Real Estate Journal Thu, 19 Nov 2009 11:35:34 EST

Dover Relocating NYC HQ to Chicago Suburbs

Dover Corp. signed a deal that will move is global headquarters from New York City to the Chicago suburbs. The manufacturing firm leased 67,962 square feet at 3005 Highland in Downers Grove. Dover will also consolidate four of its regional headquarters...
CoStar Group Thu, 19 Nov 2009 04:51:33 GMT

Investors Bullish on Health Care Real Estate as Reform Showdown Draws Closer

With the mammoth health care reform package hanging in the balance, medical real estate companies will enter 2010 in the throes of debate over the legislation's potential impact on their business, especially those owning and occupying hospitals and hospit...
CoStar Group Thu, 19 Nov 2009 03:38:48 GMT

Developers Diversified, Goldman Sachs Put CMBS Deals Back in Action

The first new-issue commercial mortgage backed securities (CMBS) supported by brick-and-mortar properties in nearly two years successfully sold this week. DDR Depositor LLC Trust 2009 Commercial Mortgage Pass Through Certificates, series 2009-DDR1...
CoStar Group Thu, 19 Nov 2009 03:17:29 GMT

Office Delinquencies Latest Driver of CMBS Troubles

Job losses and subsequent office loan defaults, coupled with continued hotel underperformance, resulted in another monthly increase in U.S. CMBS delinquencies. And new matured balloons and past due loans secured by interests in non-traditional assets...
CoStar Group Thu, 19 Nov 2009 03:15:33 GMT

Starwood Property Trust Begins Investing $900 Million Slowly, Selectively

In its first quarterly report as public entity, Starwood Property Trust posted a net loss of $1.9 million. The results were affected by the recognition of $800,000 of non-cash, stock-based compensation in the period. "We are generally pleased with...
CoStar Group Thu, 19 Nov 2009 03:13:28 GMT

Bank Watch: U.S. Steps Up Efforts To Seize Iran-Controlled Bank Melli's U.S. Properties

The United States Attorney for the Southern District of New York is looking to take over control of the 36-story, 336,000-square-foot 650 Fifth Ave. high-rise in Midtown Manhattan, as well as other properties across the country, together totaling hundreds....
CoStar Group Thu, 19 Nov 2009 03:11:18 GMT

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