News
Jobless Claims on Rise
The Department of Labor said Thursday that seasonally adjusted jobless claims were up to 500,000 in the week ending Aug. 14, up 12,000 from the previous week.
Miami Beach’s 409-Room Royal Palm Hotel Trades for $126.1M in Foreclosure Auction
Sunstone acquired the Royal Palm, prominently located in the middle of South Beach, unencumbered; although, the company had previously acquired a portion of the outstanding debt on the property at a discount in a separate transaction, which, according to the hotel REIT, leaves an economic gross acquisition price of approximately $117 million.
Fannie Mae/Freddie Mac–Where Do We Go From Here?
Plenty of ideas on the future of mortgage lenders Fannie Mae and Freddie Mac emerged during a conference on housing finance hosted by the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development on Tuesday, August 17.
Grandbridge Closes $40.5M Housing Transaction for University of Louisville’s The Province
The fixed-rate loan was originated and closed by Grandbridge’s Columbus, Ohio office. Funding was provided by Freddie Mac under its Capital Markets Execution loan program, with financing secured for a new venture sponsored by The Edwards Companies and Kayne Anderson Real Estate Advisors, L.P.
Starwood Completes $178M Commercial Mortgage Securitization
The company separated the loans into senior and junior loans, with the five senior loans contributing a face value of $84 million to the securitization in addition to $92 million in proceeds. Starwood also retained $94 million in junior interests.
Marcus & Millichap Names Firoozabadi VP Investments
Firoozabadi most recently served as associate vice president investments. He received the designation in 2008.
Stuart Eisenberg: The Financial Oxygen Flows Again?
Even in times of lean and mean credit, lending remains the lifeblood–the oxygen in that lifeblood–of commercial real estate.
Colliers Report: Big Box Retail Chains to the Rescue
Crumbling along with the housing market, the retail real estate sector took a nosedive a long time ago. However, according to real estate services firm Colliers International’s new white paper, The Big Box Dilemma, large big-box chains that managed to remain afloat during the economic crisis are beginning to soak up some of that space vacated by retailers who could not keep their heads above water.
Geithner Homes in on Fannie, Freddie as Part of ‘Broader Failures’
Treasury Secretary Timothy Geithner didn’t hold back on Tuesday when addressing the role of government-sponsored enterprises Fannie Mae and Freddie Mac in the U.S. financial crisis.
Q&A: Stadium Cost Overruns
Construction attorney Barry LePatner looks at this timely subject.