News
San Francisco’s $4.2B Transbay Project Gets Head Start on High-Speed Rail
The project is the first new station on the proposed national high-speed rail network.
Take Two: New $1.5B L.A. Hotel Plan Wins Over Critics
For a plan to redevelop the site of the historic Century Plaza Hotel in Los Angeles, the second time is the charm.
Multi-Family REITs Ride High: SNL Study
Multi-family-focused REITs have the edge over the rest of the REIT industry, reports SNL Real Estate.
CMBS Loans in Special Servicing to Hit 15% in 2010: Fitch Report
The value of problem CMBS loans in special servicing will hit $110 billion by the end of the year, Fitch Ratings estimates.
Cantor Fitzgerald, CIM Unveil New Mortgage Banking Venture
Cantor Fitzgerald and CIM Group disclosed today that they are joining forces in Cantor Commercial Real Estate (CCRE). The new enterprise is aiming for $5 billion in annualized loan production for starters.
1.4M-SF Ohio Commerce Center Snapped Up for Pocket Change
Spirongo Lordstown L.L.C., an entity controlled by brothers George and Spiros Bakeris of Howland, Ohio, has acquired the 1.4 million-square-foot Ohio Commerce Center in Warren, Ohio, from Roseville, Minn.-based Meritex.
Economy Watch: Recovery Slows, Productivity Plateaus
“Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent months,” the FOMC said to open its statement last week. That sounds like the FOMC has been reading the newspapers–or rather, scanning various web sites, to put it in a 2010 context.
Suburban D.C. Property Refinanced for $43.5M
Rosslyn Metro Center in Arlington, Va., has been refinanced to the tune of $43.5 million, according to the Washington, D.C. office of Holliday Fenoglio Fowler (HFF) L.P., which oversaw the deal.
CommonWealth REIT Scores $750M Unsecured Credit Facility
Less than two weeks before an existing facility was to mature, the Newton, Mass.-based office and industrial REIT obtains a $750-million facility from an international consortium of banks.
Troubled Xanadu Still Has Promise: Cushman & Wakefield’s Medina
By Paul Rosta, Senior Editor Xanadu, the $2 billion retail and entertainment complex taken over yesterday by a consortium of lenders, may soon be getting a new lease on life after years of delays and financial woes. The lenders are in talks with developers who could take over the project, reportedly including The Related Cos. and Triple Five Group, the Canadian developers of the Mall of America in Minneapolis. Nevertheless, there are plenty of hurdles ahead for Xanadu, which stands partly complete in the New Jersey Meadowlands complex near the Izod Center sports and entertainment venue and the new stadium…