Allison Landa
CBS Inks 70,500-SF Lease with Dorsey & Whitney at New York’s Black Rock Building
Dorsey & Whitney is relocating its previous offices at 250 Park Avenue. It will occupy the eighth through 10th floors at Black Rock.
Economy Watch: The Fed’s Raskin Decries Mortgage Servicing Tactics
Sarah Bloom Raskin, the newest governor of the Federal Reserve (sworn in Oct. 4, 2010) used the occasion of her first speech as part of the Fed to take the mortgage servicing industry to task for certain recent and well-publicized problems. In fact, she actually used the term “robo-signers.”
Apollo Buys Citi Property Investors
While the deal’s financials are not being released, Citi had more than $3 billion in assets under management as of June 30. Apollo and Citi signed a purchase agreement in May.
Financing Closes for Chicago’s $125M Radisson Blu Aqua Hotel
Acting on behalf of Magellan Development Group L.L.C. and Carlson Hotels, commercial real estate services firm Holliday Fenoglio Fowler orchestrated $66 million in financing for the development of the upper upscale Blu Aqua Hotel in downtown Chicago’s 82-story mixed-use Aqua Tower.
Brookfield Nails Down $800M Refinancing for Manhattan’s 245 Park Ave.
The Bank of China has provided Brookfield Office Properties with one of the largest recent loans in Manhattan.
Years after Selling Minneapolis Office Tower for $193M, Hines Buys it Back for $180M
Hines served as the co-developer of Fifty South Sixth, a Minneapolis office high-rise encompassing 698,600 square feet of premier leasable office space, in 2001. After having sold it in 2005, the company is once again the proud owner.
Economy Watch: U.S. Foreclosures Drop For Now
Foreclosure activity nationwide took a 4 percent dip in October compared with the previous month, according to RealtyTrac. Curiously, foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 332,172 properties during October, almost exactly the same total reported in October 2009.
Southwall, Dow Corning Debut Glass Technology for CRE
Heat Mirror film provides an energy-efficient technology.
Kilroy Grabs 588,000 SF with $237.5M Purchase of Two West Coast Properties
The biggest catch of the two purchases is 100 First Plaza, a 466,000-square-foot office asset for which the REIT paid $191.5 million.
Economy Watch: Deficit Commission Floats Austerity
It isn’t being called an “austerity plan”–austerity being all the rage among certain beleaguered Euro-economies–but the draft proposal released by co-chairmen of the 18-member bipartisan National Commission on Fiscal Responsibility and Reform has some austerity elements.