News
Trecap Acquires Capmark – And a $4.3B Portfolio
In a significant deal involving distressed assets, TRECAP Partners LLC has acquired the real estate equity investment advisory business of Capmark Investments LP, including investment management contracts and general partnership interests in its real estate equity funds.
D.C. Law Firm Renews 335,240 SF Lease
The Washington Business Journal is reporting that law firm Wiley Rein LLP has renewed its 335,240 square-foot lease in Washington, D.C. It is the largest transaction thus far in 2010.
Extended Stay To Be Plucked From Bankruptcy by $905M Trio of Investors
Nine months after having filed for Chapter 11 bankruptcy protection, Spartanburg, S.C.-based Extended Stay Hotels Inc. has accepted an offer that will solve its financial woes.
Highland Fairview Breaks Ground on Future Skechers Home
California Gov. Arnold Schwarzenegger presided over the groundbreaking of Highland Fairview Corporate Park in Rancho Belago, Calif., which developer Highland Fairview says will be the largest green building of its kind in the U.S.
Colliers: Retail Not Yet Out of the Woods
While retail vacancies will stabilize in many markets, the retail world can’t yet breathe a sigh of relief. That’s according to Colliers International’s 2010 Retail Trends and Opportunities report, which terms that stabilization as the “Not So Fast” recovery.
Economy Watch: MBA Vexed About Risk Retention Rules in Dodd’s Bill
Now that the health-care hubbub is settling down in Congress (for the time being), financial industry reform is getting more attention — at least from the financial industry and its lobbyists.
Rufrano Resigns From GGP Board to Avoid Conflict of Interest
Glenn Rufrano has resigned from the General Growth Properties Board of Directors due to his recent appointment as president and chief executive officer of Cushman & Wakefield Inc.
RICS: ‘Considerable’ Importance Placed on Sustainability
Sustainability is on the minds of most real estate clients. That’s according to the fourth quarter Royal Institution of Chartered Surveyors Global Property Survey, which found that the vast majority of real estate agents believe that their clients place “some to considerable” importance on the topic.
Cushman Expands Alliance with Commerce
In a strategic move to expand its brokerage and property management services to both the Seattle and Bellevue markets, Commerce Real Estate Solutions has expanded its alliance with Cushman & Wakefield.
Economy Watch: Bernanke Takes Big Banks to Task in Front of Smaller Bankers
Federal Reserve chairman Ben Benanke said in a speech in Orlando over the weekend to Independent Community Bankers of America that big banks feeding at the public trough is something that needs to end as the economy recovers.