Business Specialties
Mesa West Provides $44M in Financing for SoCal Office Building
Mesa West Capital said on Monday that it has provided CB Richard Ellis Strategic Partners U.S. Value 5, LP (CBRE Investors) with $44 million in first mortgage financing for the 500 North Brand Avenue building in Glendale, Calif.
Economy Watch: Unemployment Stuck at Bad
The U.S. Department of Labor reported on Friday that regional and state unemployment rates didn’t budge much in March.
Lodgian’s Stockholders Green Light $270M Merger with Lone Star
Lodgian Inc. shareholders met on “Tax Day” to sign off on a deal that calls for Lone Star affiliates LSREF Lodging Investments L.L.C. and LSREF Lodging Merger Co. to acquire the hotel company for a cash sum of $2.50 per share for all outstanding stock.
Healthcare Reform to Boost Healthcare Real Estate Industry
Healthcare real estate, having managed to fare better than most commercial real estate sectors during the industry’s downturn, is now positioned to blossom as a result of the recent passage of the highly contentious Patient Protection and Affordable Care Act and The Healthcare and Education and Reconciliation Act of 2010, according to a report from Fitch Ratings.
More Upbeat ULI Summit Finds Big Finance Players ‘Back on Offense’
Only a year ago, the atmosphere at the Urban Land Institute’s spring summit in Atlanta was dour, even fearful, recalled the organization’s CEO, Patrick Phillips. This week, the ULI’s national meeting in Boston revealed an unmistakable change.
Brandywine Leases 1M SF Over First Quarter
Commercial real estate owner, developer and manager Brandywine Realty Trust on Thursday said that it has inked more than 1 million square feet in new and renewed leases during the first quarter of this year, including more than 197,000 square feet of leasing activity commencing through March 31, 2010.
Economy Watch: Foreclosures Still on the Rise
Foreclosure data specialist RealtyTrac reported on Thursday that U.S. foreclosure filings, a category that includes default notices, scheduled auctions and bank repossessions, were up 7 percent in the first quarter of 2010 compared with the previous quarter, and 16 percent higher than during the first quarter of 2009.
Tropicana Las Vegas to Go Tropical with $165M Makeover
The U.S. gaming market has yet to rebound, but Toronto, Ontario-based Onex Corp., owner of Tropicana Las Vegas Hotel & Casino, is preparing for the recession-weary public’s impending return to the tables with the commencement of its massive transformation of Tropicana Las Vegas.
SL Green to Shell Out $193M for Manhattan’s 600 Lexington
SL Green Realty Corp. is about to pump up its enviable Manhattan office portfolio with the addition of the 303,500-square-foot tower at 600 Lexington Ave. While not one of those highly anticipated “fire sale” deals that never quite materialized in the commercial real estate market, it is still a good buy.
Zell, Linneman Offer Unsparing Views in ULI Keynote
Sam Zell and Peter Linneman kicked off the Urban Land Institute’s spring conference Wednesday with frank, witty and frequently caustic perspectives on the state of the industry and of the nation.