Finance
Capital Markets Chair Ousted in Election
As part of the many high-profile ejections in the elections, Democratic Rep. Paul Kanjorski was ousted by Republican Lou Barletta in Pennsylvania’s 11th District. Kanjorski, a House veteran of more than a quarter century, was an advocate of establishing a federal insurance office and authored significant parts of the Wall Street reform bill.
HFF Closes $44M Refinancing for Manhattan Retail Condo
The refinancing is on a retail condominium at 599 Broadway in Manhattan’s SoHo area.
Economy Watch: Foreclosures Going Strong in 3Q
Foreclosure slowdown? What foreclosure slowdown? That’s the takeaway from Thursday’s third quarter 2010 Metropolitan Foreclosure Market Report by foreclosure specialist RealtyTrac.
Half-Billion in Financing Closes for 880,500-SF Government-Leased Portfolio
Funding, part of which was actually completed in late 2009, for the four-property portfolio comes in the form of a $271 million construction loan and $256 million in permanent financing.
Economy Watch: Failed Bank Total in ’10 Nearly Equals Total in ’09
This year’s number of busted banks, 139, is now almost equal to last year’s total of 140–with more than two months left to go.
Economy Watch: FHFA Estimates Fannie, Freddie’s Ultimate Cost
The Federal Housing Finance Agency said on Thursday that the two GSEs might need as much as a combined $363 billion from the federal government through 2013, while the Conference Board Leading Economic Index for the United States increased 0.3 percent in September to 110.4, and chief administrative officer Robert Rizzo or two other top officials of Bell, Calif., have been charged with misappropriating of $180,000 of affordable housing money.
CREW Report: Billingsley Says Global Recovery Afoot, but Staggering
Billingsley, the North American director and head of research at RREEF Alternative Investments, spoke at the 2010 Commercial Real Estate Women Network Convention & Marketplace in San Francisco.
George Smith Partners Completes $112M Refinance of LA-Area Multi-Family Property
Financing was handled by George Smith principal Gary Tenzer and vice president Nick Silbergeld.
Savills Advises Fortress, Northstar on $72M Mezzanine Loan Sale on Columbia Sussex Hotel Portfolio
The portfolio was sold to The Blackstone Group for an undisclosed price.
ULI Report: Tyson Warns of Need to Step Up Job Creation but Slow Down Deficit-Reduction Plans
The economy still has a way to go, and the federal government is limited in what it can do to make things better, according to Laura D’Andrea Tyson. There are measures it can pursue, but it will take some time to see real improvement, and the private sector will need to be involved, she told her audience at the Urban Land Institute Fall Meeting.