Finance
Economy Watch: B of A to Forgive Some Borrowers Some Debt, Sometimes
Has Bank of America decided to play nice with underwater Bank of America mortgage holders? Would such a thing even be possible? Maybe so.
Lenders Come Out Strong for Two $70M Financings for NYC Office Buildings
Tangible evidence of the defrosting of credit markets continues to emerge.
Economy Watch: Existing Home Sales Take Another Dip
Sales of existing U.S. homes dropped 0.6 percent in February according to the National Association of Realtors on Tuesday.
Trecap Acquires Capmark – And a $4.3B Portfolio
In a significant deal involving distressed assets, TRECAP Partners LLC has acquired the real estate equity investment advisory business of Capmark Investments LP, including investment management contracts and general partnership interests in its real estate equity funds.
Extended Stay To Be Plucked From Bankruptcy by $905M Trio of Investors
Nine months after having filed for Chapter 11 bankruptcy protection, Spartanburg, S.C.-based Extended Stay Hotels Inc. has accepted an offer that will solve its financial woes.
Economy Watch: MBA Vexed About Risk Retention Rules in Dodd’s Bill
Now that the health-care hubbub is settling down in Congress (for the time being), financial industry reform is getting more attention — at least from the financial industry and its lobbyists.
Economy Watch: Bernanke Takes Big Banks to Task in Front of Smaller Bankers
Federal Reserve chairman Ben Benanke said in a speech in Orlando over the weekend to Independent Community Bankers of America that big banks feeding at the public trough is something that needs to end as the economy recovers.
Economy Watch: Bernanke Tells Congress That Fed Needs to Police All Banks
Remarkably, members of the House of Representatives took time from the healthcare hubbub on Wednesday to hear testimony from Federal Reserve Chairman Ben Bernanke, or at least the House Financial Services Committee did.
With a Boost from U.S. Market Activity, Global Investment Volumes to Reach $478B
It is no secret that worldwide commercial real estate investment volumes took a nosedive in 2009. However, last year’s lackluster level of activity will be just a bad memory given the positive 2010 forecast detailed in Cushman & Wakefield’s 2010 Global Investment Atlas, which the commercial real estate services firm launched March 16th at the annual MIPIM world property market conference in Cannes, France.
PREIT Advances Capital Plan with New $670M Credit
In the current lending climate, it’s a rare occasion that a REIT can obtain over half a billion dollars in financing, but Pennsylvania Real Estate Investment Trust has done just that. The Philadelphia-based retail REIT recently got its hands on a $670 million secured credit facility. But, according to PREIT, the coup had nothing to do with the slow thawing of the credit markets.