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Opus Launches $30M Minnesota Project
With the purchase of three land parcels in the Stadium Village area near the University of Minnesota’s East Bank Campus, The Opus Group has launched its development of Stadium Village Flats.
Economy Watch: Weak November Employment Numbers Come as a Shock
The net increase in employment was so poor, in fact, that the official unemployment rate edged up to 9.8 percent from November. Economists had expected at least about 100,000 more jobs to be created.
Isle of Capri’s $125M Proposal Wins Last Gaming License in Missouri
Thirteen turned out to be a lucky number for Isle of Capri Casinos Inc. — its proposal for a casino property is the last of 13 to be issued in the state of Missouri.
Cambridge Mixed-Use Life Sciences Property Gets $175M in Financing
KBS Real Estate Investment Trust II provided Beal Cos. L.L.P. and Rockwood Capital Corp. with the sizable first mortgage loan that will be used to refinance the 665,000-square-foot One Kendall Square mixed-use life sciences property in Cambridge, Mass.
Economy Watch: Deficit Group Offers Tough Love
The National Commission on Fiscal Responsibility and Reform’s formal report had lumps of holiday-season coal for just about everybody who receives something from the federal government.
Sternlicht Named CPE Executive of the Year
The Executive of the Year Award recognizes innovation, dealmaking ability, leadership qualities and other contributions to the industry during the fall 2009-to-summer 2010 year.
Debt-Laden $355M Trump Hollywood Has New Owner
First came the debut of the $355 million Trump Hollywood, then came foreclosure, and now new ownership–and it all happened within 15 months.
Economy Watch: Case-Shiller Index Takes a Dive
According to the S&P/Case-Shiller Index that tracks 20 major U.S. markets, the seasonally adjusted month-over-month drop was 0.8 percent, the largest decline since April 2009. The 10-city index was down 0.7 percent.
Mixed-Use Miami Condo Property Under New Ownership
It is an oft-told story. Anticipating continued demand, a developer plans a premier project at the height of the condominium market, totally unaware of the impending housing market collapse, and then falls victim to the credit crunch and topples under the weight of financial challenges. Such was the case for Cabi Downtown L.L.C., the developer of Everglades on the Bay.
Cedar Wraps up $65.2M in Mortgage Loans on Six Shopping Centers
Cedar Shopping Centers Inc. has closed on 10-year fixed-rate mortgage financing for a six-property suite purchased in October. The primarily supermarket-anchored properties were bought on behalf of a joint venture between Cedar and RioCan Real Estate Investment Trust, a Canadian firm.