Allison Landa
Awful ’09 Making Way for Hopeful ’10: IPD Conference Speakers
The U.S. commercial real estate market turned in the worst performance on record in 2009, posting a return of -17.1 percent for the year, according to results of IPD’s first U.S. annual index. IPD unveiled the findings and the index during a presentation Tuesday morning in Midtown Manhattan.
Economy Watch: Housing Starts Down Because of Snow — and the Economy
Housing starts nationwide stumbled in February according to the U.S. Department of Commerce on Tuesday. Some observers cited the weather for the decline, but the relentless drumbeats of unemployment, tight credit and foreclosures were probably also factors.
MGM Mirage to Bid Adieu to Atlantic City with Borgata Hotel & Casino Settlement
Atlantic City has not escaped the negative financial ramifications of the recession, but that has nothing to do with MGM Mirage’s plans to make its exit from the famous gaming town.
Dodd: Rein in Wall Street
Senate Banking Committee chairman Christopher Dodd on Monday put forth a dramatic – and at 1,336 pages, lengthy – bill to overhaul financial regulations.
U.S. Army Makes a Splash in Modular Housing with 1,200-Unit Fort Sam Residential Project
Development of the first building in a two-building modular residential project at the Fort Sam Houston army base in San Antonio, Tex., has just reached completion.
Langford Heads Deloitte Distressed Asset Practice
Deloitte has appointed Guy Langford to lead its U.S. distressed asset and debt practice. Langford succeeds Dorothy Alpert, who has taken on the role of northeast deputy regional managing partner.
GGP Bidders Said to Seek International Funding
The Financial Times is reporting that both major bidders for bankrupt mall owner General Growth Properties have approached sovereign wealth funds in the Middle East and Asia for financial support.
Economy Watch: Immigrants Head for Mid-Tier Cities, Could Be Real Estate Boon
A study by the Lusk Center for Real Estate at the University of Southern California has found that an increasing number of immigrants to the United States are moving to places other than the standard gateway cities of New York, Los Angeles and Chicago. Instead many of these new Americans are favoring smaller cities where the cost of living is lower and jobs are easier to come by.
Four Points by Sheraton Pumps up the Pipeline
Four Points by Sheraton has announced a global pipeline that will increase its portfolio by 16 properties this year.
Fitch: $74B Backlog Awaits CMBS Special Servicers
The good news: According to Fitch ratings, CMBS special servicers are making tracks through distressed loans and resolved approximately $8.7 billion in 2009. The bad news: There’s a long way to go.