In a move that had been anticipated for months in the commercial real estate industry, Borders Group, the giant book retailer, today announced that it has filed for reorganization relief under Chapter 11 of the Bankruptcy Code.
When developers from the Related Cos. surveyed the 26 acres on the west side of Manhattan that represent the largest undeveloped tract in New York City, they saw beyond the stored rail cars and the tracks that guide trains to Hudson Yards from Penn Station.
Shareholders of the two biggest companies in the nation’s industrial real estate sphere are expected to approve the merger of the two, a union that would create the dominant firm in the industrial sector.
The controversial practice of “extend and pretend,” in which regulators grant banks and other lenders wide latitude to extend performing loans while avoiding sharp value write-downs that could otherwise result from marking performing loans to market, is on its way out, according to a new analysis by CB Richard Ellis Econometric Advisors.
ATLANTA —When Gar Herring, president and CEO of Dallas-based developer The MGHerring Group asked a luncheon crowd at the Southeast Conference of the ICSC on Tuesday if they thought the recession was over, an overwhelming majority