Finance
Economy Watch: Resort Unveils Unusual Green Amenity
Lake Geneva, Wis., is a resort town best known to Chicagoans, but now it has another distinction, both in real estate and green-energy. On Tuesday, the Grand Geneva Resort & Spa unveiled an on-site charging station for electric and some hybrid automobiles.
Economy Watch: Brown Taking Moody’s to Court
In a particularly Jerry Brown turn of phase, the California Attorney General said on Monday that Moody’s Investors Service is “blowing off” the state of California.
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.
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.
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.
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.
Economy Watch: COP Says HAMP Remains FUBAR
According to the U.S. Treasury Department and HUD on Wednesday, 2,879 modified loans under the government’s mortgage modification program (HAMP) were “cancelled” in March.
Economy Watch: Bankers Tell Congress They Don’t Like Mortgage Modifications
A variety of bankers–mortgage execs from Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, for instance–put on their best Milton Drysdale faces on Tuesday and told the U.S. House Financial Services Committee that principal reduction for underwater mortgages is a bad idea.