News
Financing Closes for Chicago’s $125M Radisson Blu Aqua Hotel
Acting on behalf of Magellan Development Group L.L.C. and Carlson Hotels, commercial real estate services firm Holliday Fenoglio Fowler orchestrated $66 million in financing for the development of the upper upscale Blu Aqua Hotel in downtown Chicago’s 82-story mixed-use Aqua Tower.
Brookfield Nails Down $800M Refinancing for Manhattan’s 245 Park Ave.
The Bank of China has provided Brookfield Office Properties with one of the largest recent loans in Manhattan.
Years after Selling Minneapolis Office Tower for $193M, Hines Buys it Back for $180M
Hines served as the co-developer of Fifty South Sixth, a Minneapolis office high-rise encompassing 698,600 square feet of premier leasable office space, in 2001. After having sold it in 2005, the company is once again the proud owner.
Economy Watch: U.S. Foreclosures Drop For Now
Foreclosure activity nationwide took a 4 percent dip in October compared with the previous month, according to RealtyTrac. Curiously, foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 332,172 properties during October, almost exactly the same total reported in October 2009.
Southwall, Dow Corning Debut Glass Technology for CRE
Heat Mirror film provides an energy-efficient technology.
Kilroy Grabs 588,000 SF with $237.5M Purchase of Two West Coast Properties
The biggest catch of the two purchases is 100 First Plaza, a 466,000-square-foot office asset for which the REIT paid $191.5 million.
Economy Watch: Deficit Commission Floats Austerity
It isn’t being called an “austerity plan”–austerity being all the rage among certain beleaguered Euro-economies–but the draft proposal released by co-chairmen of the 18-member bipartisan National Commission on Fiscal Responsibility and Reform has some austerity elements.
Ground Breaks on $520M Washington Marriott Marquis
Quadrangle Development Corporation and Capstone Development have just kicked off construction of the Washington Marriott Marquis, a 1,175-room property that will serve as the convention center hotel for Washington, D.C.’s 2.3 million square-foot Walter E. Washington Convention Center.
CWCapital Closes $388M Apartment Refinancing Package in Largest LIBOR SWAP Deal of 2010
Financing for the portfolio of luxury apartment properties, made available through CWCapital’s Agency Lending Group, came in the form of four cross-collateralized loans with 10-year terms.
Economy Watch: Number of U.S. Bankruptcies Continues Upward
More than 1.22 million U.S. bankruptcies were filed for during the first nine months of 2010, an 11 percent increase compared with the same period last year, according to the American Bankruptcy Institute, citing data released by the Administrative Office of the U.S. Courts.