News
New Life for the Clawson Theater Building; Cleveland-based Developer Sets Eyes on Three Capitol Park Buildings
By Veronica Grecu, Associate Editor
A long-vacant movie house in downtown Clawson was recently purchased by Mary Liz Curtin and her husband Stephen Scannell, who co-own Leon & Lulu, a Detroit-area retailer of home furnishings and lifestyle merchandise located next door. […]
Madison Development Moves to Fill “The Hole” in West Seattle
By Alex Girda, Associate Editor
Three years after excavation started and later stalled, a mothballed mixed-use project in West Seattle is on the brink of going forward. An affiliate of Madison Development Group L.L.C. paid $32 million in a foreclosure auction […]
McRoberts Joins Prudential Mortgage, Latest in String of GSE Departures
Prudential Mortgage Capital has hired Michael McRoberts, the latest in a string of departures from the government-sponsored enterprises, to head its Fannie Mae and Freddie Mac lending business.
$1B Innkeepers Portfolio Sale Back on Track
Innkeepers USA Trust’s deal to sell a 64-hotel portfolio to a joint venture consisting of Cerberus Series Four Holdings L.L.C. and Chatham Lodging Trust as part of its Chapter 11 plan of reorganization is back on again.
Economy Watch: Homebuilding Surges, Beige Book Sleeps–and So Does CPI
Home starts experienced an unexpected uptick in September, while the latest Beige Book intimated a “sluggish” economy and the CPI turned in the lowest increase since the beginning of summer.
Ventas Expands Borrowing Capacity to $2B
Seniors housing and healthcare powerhouse Ventas Inc. expanded its borrowing capacity with the closing of a new credit facility. Subsidiary Ventas Realty L.P. confirmed a $2 billion unsecured, four-year revolving credit facility, replacing a $1 billion facility scheduled to mature in April 2012.
New Boston Fund Secures Financing for M-F Project
New Boston Fund and Asian Community Development Corp. recently secured city and state funds for the construction of a $130 million, 345-unit mixed-income multi-family property in Boston’s Chinatown.
Jersey City Office Tower Commands Record $378M for Brookfield
Multi-Employer Property Trust, a national real estate equity fund, raises its profile in the metropolitan New York City market.
Zappos to Set Up Shop in Downtown Las Vegas
By Alex Girda, Associate Editor
Las Vegas desperately needs a plan that will shake things up and redefine the charm of the city that tore Sinatra between New York and The Strip. Housing is collapsed with little signs pointing toward a […]
Economy Watch: Homebuilders Less Glum; PPI Spikes; BofA Shrinks
Homebuilder confidence rose in October, after little positive direction since April 2010, while the Producer Price Index surged by 0.8 percent, higher than expected, and Bank of America relinquished its title of largest U.S. bank to JP Morgan Chase.