Finance
New and Old Alliances Lead ProLogis to $225.5M in Financing for European Property Fund
In a frosty lending climate, friendships can make the difference.
Fitch: U.S. CMBS Delinquencies Nearing 8 Percent on Office Defaults
Throughout the month, 44 office loans went delinquent, including 14 loans with a balance greater than $20 million.
The largest new delinquency was the $380 million Columbia Center loan, whose collateral is located in Seattle.
Starwood Deploys $131M in Capital
The capital was deployed via a pair of transactions: a $72.5 million discounted purchase of a $90.6 million participation in a B note secured by four resorts in the United Kingdom and the origination of a $59 million first mortgage loan on a 38-story office building in Chicago’s central business district.
Economy Watch: April Existing Home Sales Fueled by Last Gasp of Tax Credit
Existing U.S. home sales surged an unsurprising 7.6 percent in April from March to an annualized rate of 5.77 million, according to the National Association of Realtors on Monday. Compared with April 2009, sales were 22.8 percent higher.
Economy Watch: Consumers Open Their Wallets a Little More in April
At the forefront of the increase was a 6.9 percent upsurge in sales at building-material stores, such as DIY giant Home Deport and smaller chains of hardware stores, as consumers not only bought spring-related yard items but also replaced more durable equipment such as lawn mowers and big-ticket barbecue systems.
Economy Watch: New NW Florida Airport Spurs CRE Development
In a commercial real estate economy like this, finding spots of growth can be a little tricky, but they’re out there.
Economy Watch: Good News, Bad News for Retailers
Some good news: Whole Foods Market Inc. said that its fiscal second-quarter profit more than doubled compared with the same period in 2009, jumping from $27.3 million to $67.4 million.
Economy Watch: Home Prices Mostly Stable
According to the latest survey of home prices by the National Association of Realtors, released on Tuesday, 91 out of 152 U.S. metropolitan statistical areas recorded higher median existing single-family home prices compared with the first quarter of 2009; three MSAs were unchanged; and 58 metros experienced price declines.
$159M in Financing Arranged for $417M Military Housing Project in Alaska
The Alaska Housing Finance Corp. (AHFC) has just agreed to provide $159.4 million in financing to help facilitate a military housing upgrade project at Fort Wainwright and Fort Greely in Alaska.
Economy Watch: Another Positive Employment Index
Everyone’s U.S. employment index is looking up these days.