News
Dodd: Rein in Wall Street
Senate Banking Committee chairman Christopher Dodd on Monday put forth a dramatic – and at 1,336 pages, lengthy – bill to overhaul financial regulations.
U.S. Army Makes a Splash in Modular Housing with 1,200-Unit Fort Sam Residential Project
Development of the first building in a two-building modular residential project at the Fort Sam Houston army base in San Antonio, Tex., has just reached completion.
Langford Heads Deloitte Distressed Asset Practice
Deloitte has appointed Guy Langford to lead its U.S. distressed asset and debt practice. Langford succeeds Dorothy Alpert, who has taken on the role of northeast deputy regional managing partner.
GGP Bidders Said to Seek International Funding
The Financial Times is reporting that both major bidders for bankrupt mall owner General Growth Properties have approached sovereign wealth funds in the Middle East and Asia for financial support.
Economy Watch: Immigrants Head for Mid-Tier Cities, Could Be Real Estate Boon
A study by the Lusk Center for Real Estate at the University of Southern California has found that an increasing number of immigrants to the United States are moving to places other than the standard gateway cities of New York, Los Angeles and Chicago. Instead many of these new Americans are favoring smaller cities where the cost of living is lower and jobs are easier to come by.
Policymakers and the GSEs: Risks to Watch
While the Obama Administration has not revealed any inclinations toward the direction it might take with revision of the government-sponsored entities, professors, pundits and others have proposed some possible directions.
Four Points by Sheraton Pumps up the Pipeline
Four Points by Sheraton has announced a global pipeline that will increase its portfolio by 16 properties this year.
Fitch: $74B Backlog Awaits CMBS Special Servicers
The good news: According to Fitch ratings, CMBS special servicers are making tracks through distressed loans and resolved approximately $8.7 billion in 2009. The bad news: There’s a long way to go.
New Amsterdam Mixed-Use Property Changes Hands for $11.7M
The New Amsterdam, a 75,375 square-foot multifamily and retail property in Washington, D.C., has been sold for $11,750,000. That price represents $156 per square foot, or $130,556 per unit.
Economy Watch: Retail Sales Up in February (Until The Next Revision)
The U.S. Census Bureau reported on Friday that retail sales nationwide edged up 0.3 percent between February and January, despite the snowstorms that kept a lot of people in the East home for more days than usual this winter, though perhaps there was an element of hoard-buying ahead of the storms.