Archive for September 2010
HFF Closes $35M Mezzanine Loan for Mutual Life
The property consists of 1.2 million square feet of Class A office space in Midtown Manhattan, occupying an entire block.
Read MoreGrosvenor Leases 50K SF in Chicago to London-Based Topshop
Is retail still in a slump? Not according to Grosvenor.
Read MoreExcel Trust to Take 750,000-SF Northern California Shopping Center for $92.5M
The purchase agreement involves a little bit of cash and a little bit of debt. Excel will assume an existing first lien with an unpaid balance of approximately $44.8 million, and fund the remainder of the deal through cash on hand and borrowings under its unsecured credit facility.
Read MoreEconomy Watch: J.P. Morgan Holds Off on Foreclosures in 23 States
J.P. Morgan Chase said that it was halting foreclosures for the time being in about half of the country because of oddball paperwork. The move affects roughly 56,000 borrowers in 23 states.
Read MoreNon-Traded REITs on the Upswing
By Jeff Hanson, Grubb & Ellis Equity Advisors:
The market for non-traded REITs has roared back this year following a precipitous decline during the depths of the recent recession.
Read MoreMonday Properties to Develop Virginia’s First LEED Platinum Property
Lean and green is the order for Monday Properties’ newest development, a $300 million, 35-story building in Rosslyn.
Read MoreEconomy Watch: Home Prices See Modest Gains
Home prices saw an uptick in July compared with the previous month, according to the latest S&P/Case-Shiller home-price indexes, released on Tuesday.
Read MoreWhat Does Moody’s REIT Rating Methodology Tell Us?
By Philip Kibel, Moody’s Investors Service:
Moody’s REIT and Other Commercial Real Estate Firms Rating Methodology Grid encompasses the key factors that drive our ratings. Moody’s analysts use this grid as a starting point to evaluate the creditworthiness of a REIT or real estate operating company.
Read MorePinnacle Entertainment Expands Plans–and Price–for $357M Baton Rouge Casino
According to Pinnacle, the increase in size and amenities is just what the region’s residents ordered.
Read MoreFirst Financial Reaches Agreement with Regulators
The real estate lender agreed to maintain or exceed regulatory capital levels at 10 percent tier one leverage ratio and 12 percent total risk-based ratio, which it already exceeds thanks to its board of directors’ Sept. 15 directive that a portion of the company’s capital be contributed to the bank. It must also take other measures to improve its financial performance.
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