News
Pebblebrook Reaches $369M in Investments with Purchase of Grand Hotel Minneapolis
Pebblebrook snapped up the Grand Hotel from iStar Financial Inc., which had taken possession of the downtown Minneapolis asset from The Wirth Cos. through a deed in lieu of foreclosure process.
Economy Watch: States Question Foreclosure Documentation, Too
In the wake of J.P. Morgan Chase suspending residential mortgage foreclosures in about half the states, as reported by CPE on Wednesday, word is that a number of states themselves have started questioning bank tactics in pursuing foreclosures.
HFF Closes $35M Mezzanine Loan for Mutual Life
The property consists of 1.2 million square feet of Class A office space in Midtown Manhattan, occupying an entire block.
Grosvenor Leases 50K SF in Chicago to London-Based Topshop
Is retail still in a slump? Not according to Grosvenor.
Excel Trust to Take 750,000-SF Northern California Shopping Center for $92.5M
The purchase agreement involves a little bit of cash and a little bit of debt. Excel will assume an existing first lien with an unpaid balance of approximately $44.8 million, and fund the remainder of the deal through cash on hand and borrowings under its unsecured credit facility.
Economy Watch: J.P. Morgan Holds Off on Foreclosures in 23 States
J.P. Morgan Chase said that it was halting foreclosures for the time being in about half of the country because of oddball paperwork. The move affects roughly 56,000 borrowers in 23 states.
Monday Properties to Develop Virginia’s First LEED Platinum Property
Lean and green is the order for Monday Properties’ newest development, a $300 million, 35-story building in Rosslyn.
Economy Watch: Home Prices See Modest Gains
Home prices saw an uptick in July compared with the previous month, according to the latest S&P/Case-Shiller home-price indexes, released on Tuesday.
Pinnacle Entertainment Expands Plans–and Price–for $357M Baton Rouge Casino
According to Pinnacle, the increase in size and amenities is just what the region’s residents ordered.
Ventas Subsidiary to Start Construction on 250,000-SF MOB in Baton Rouge
The entire campus, including the medical office building, will be owned by Woman’s Hospital.