News
Economy Watch: New Home Sales Back in the Cellar; FDIC Speaks Up on Banks, WaMu
The economic tumult has apparently discouraged Americans from buying new homes. The FDIC reported that the number of problem banks declined during 2Q11, and a federal court won’t the agency off the hook for bad WaMu mortgages.
Capmark’s $4B Reorganization Plan Gets the Thumbs Up
Capmark Financial Group, which filed for Chapter 11 bankruptcy protection in 2009, is on the way to recovery with a reorganization plan that will deliver $4 billion in cash, stock and new debt to its creditors.
Accenture, Zenta to Merge, Increase Mortgage-Processing Services
Accenture has entered into an agreement to acquire Zenta, one of the country’s top three providers of commercial and residential mortgage-processing services.
Yahoo, JLL Achieve LEED Gold on 1 MSF Sunnyvale Campus
In a first for a corporate campus of this kind, Jones Lang LaSalle and Yahoo announced Monday that the search giant’s Sunnyvale, Calif., campus has been awarded LEED Gold certification.
Economy Watch: Increasing Delinquency Rates Not All Bad, Chance of Another Recession Is a Coin Toss
U.S. households delinquent on their mortgages rose by 12 basis points in 2Q2011. The chance of another recession is about 50/50, according to Fannie. And the Chicago Fed reported a slight uptick in its economic indicators.
USAA, JLB Team Up on Upscale 373-Unit Atlanta Project
USAA and JLB Partners are capitalizing on Buckhead, one of Atlanta’s ritziest areas, in a joint venture to develop Buckhead Village, a premier multi-family property that will add 373 residences to a hungry apartment market.
$43M Refi for Texas’ Hilton DFW
There are even more signs of life in the hospitality sector, as HFF secured $43 million in financing for the Hilton DFW Lakes in Grapevine, Texas.
1.5 MSF Shanghai Office Trades for $500M
Investors with cash on hand are snapping up premier properties in Shanghai, and SOHO China Ltd.’s purchase of the 1.5 million-square-foot Shanghai New World Changning Commercial Center is among the latest transactions.
Economy Watch: Bated Breath for QE3, State Unemployment Barely Moves
The government reported a year-over-year drop of 1.3 percent in Americans’ wages amid talk of a meeting at Jackson Hole, Wyo., that may signal QE3. And while the Dow dropped on Friday, real assets like gold are growing in popularity.
Boston’s New Residential Developments Beat Recession
By Veronica Grecu, Associate Editor
The open-air parking lot located at 45 Stuart St. near the Chinatown and Theater District neighborhoods could be replaced by a residential complex. Last week, AvalonBay Communities Inc. submitted a large-scale development plan to the Boston […]