TALF Program Expansion No Panacea for Commercial Real Estate
The expansion of the Term Asset-Backed Security Loan Facility (TALF) program to include new commercial mortgage-backed securities is a step toward thawing the credit markets, experts say, but it fails to resolve the maturing $166.7 billion in CMBS that will come due over the next three years. ...
Want to See the Economy Turn Around Tomorrow?
Amid the highly volatile global securities market, the requirement that companies be evaluated on the current value of their assets is crippling the U.S. economy. ...
German Investors Set to Take Control of Troubled Victory Park Project in Dallas
Once touted as a landmark case study in urban regeneration, the financially troubled Victory Park mixed-use project in Dallas is in the final stages of reverting back to its German-based institutional backers....
Fed Orders Big Banks to Raise ‘What-if’ Capital To Bolster Reserves
If the economy were to take a sudden dive, the nation’s top banks could suffer commercial real estate losses amounting to $53 billion, or 8.5% of their total losses....
Scores of Smaller Banks Projected to Collapse
More than 150 small and medium-sized U.S. banks are currently failing and expected to close by the fourth quarter as bad commercial real estate loans threaten their viability, according to an analysis by the Oakland, Calif.-based research firm Foresight Analytics....
Real Estate Senior Financial Execs Expect Values to Decline in 2009
In a national survey of real estate chief financial officers and senior comptrollers conducted by Grant Thornton — the U.S. member firm of Grant Thornton International — 93% expect commercial real estate values to decline...
Mayor Bloomberg Pushes Energy-Efficient Legislation for New York
After 18 months of gutting and retrofitting the infrastructure of New York’s 1909 landmark Argonaut building in Manhattan, the $20 million green renovation will be complete this summer. ...
Will TALF Expansion Jumpstart CMBS Lending?
The Federal Reserve announced that it will expand the Term Asset-Backed Security Loan Facility, or TALF, to include AAA-rated securities backed by new and recently originated commercial mortgage loans....
Peter Castleton: Orange County office market stung by vacancies
Financial firms have become the Achilles heel of the Orange County office market in Southern California as the industry continues to shed jobs and consolidate operations. Over the past eight quarters, the county posted negative net absorption of 3.4 million sq. ft, including 691,274 sq. ft. in the first quarter of 2009. The vacancy rate has risen from 13.78% to 15.58% over the past year while asking rents have fallen 13.1% during the same period....
Falling Property Sales Help Sink GDP
Commercial property sales by dollar volume slumped 50% in the first quarter from the fourth quarter of 2008 as gross domestic product (GDP) contracted 6.1% on an annualized basis....
Cisco’s New High-Tech Medical Center Attracts Attention
Cisco Systems, a multinational corporation that develops and sells digital networking services, has opened a health care center on the campus of its headquarters in San Jose, Calif. that uses state-of-the art technology wired into the $38 million facility....
Hotels Copes With Flu Fallout
It’s a tough time to be a hotelier in Mexico. First, drug-related violence put a crimp in spring-break business. ...
Spin-Offs Are Latest Chapter in Sunrise Saga
As Sunrise Senior Living restructures in an effort to stave off bankruptcy, the company has spawned spin-offs seeking to capitalize on new opportunities. ...
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