Starwood Reports 65% Drop in Third-Quarter Profit 

Oct 22, 2009, By Matt Valley

Reeling from double-digit declines in revenue per available room (RevPAR) in the U.S. and abroad, Starwood Hotel & Resorts Worldwide on Thursday reported a 65% drop in third-quarter profit. ...

Falling Prices Hit Apartments Hard, Put Pressure on Borrowers  

Oct 21, 2009, By Denise Kalette

Commercial real estate prices have taken a dive of 32.8% from a year ago, and 40% from two years ago, a new report by Moody’s/REAL Commercial Property Price Indices shows. ...

Recession, Credit Crunch Force Erickson Retirement Communities to File for Chapter 11 

Oct 20, 2009, By Matt Valley

Erickson Retirement Communities, one of the biggest developers and managers of seniors housing with 23,000 residents in 19 communities spread across 11 states, filed for Chapter 11 bankruptcy protection on Monday. ...

Old is New in Durham As Tenants Jazz Up Warehouses 

Oct 19, 2009, By Denise Kalette

How does a company make a dramatic statement with its commercial real estate property at a time when little credit is available for new development? One way is to adapt an old building to a new use with a snazzy, high-tech rehab. ...

Average Recovery Rate on Defaulted Commercial Mortgages Is Nearly 60%, RCA Study Shows 

Oct 16, 2009, By Matt Valley

When commercial property loans go into default, how much can lenders reasonably expect to recoup from asset dispositions or the sale of mortgage notes? ...

Cushman & Wakefield Seeks New CEO 

Oct 16, 2009, Staff report

Cushman & Wakefield, the New York-based global brokerage, is looking for a new chief executive officer after Bruce Mosler, who had been president and CEO since 2005, was named co-chairman of the board of directors, alongside John Cushman III. ...

Beleaguered Watergate Hotel Draws an Offer, But Will the Deal Close? 

Oct 15, 2009, By Denise Kalette

After sitting vacant for two years, the famed Watergate Hotel on the bank of the Potomac River in Washington, D.C. is embarking on a new chapter in its storied life. It is once again for sale and has attracted a purchase agreement. The big question is: Will the deal go through? ...

FDIC Frets Over CRE Loan Losses 

Oct 15, 2009, By Ben Johnson, a special to NREI from OKCReview

The nation’s banking system continues to plod along on a knife-edge between survival and failure, and commercial real estate (CRE) loans could become the heaviest anchor weighing down an economic recovery....

Business Investment Is Critical to Reversing Tide of Job Losses, Says Leading Georgia Economist 

Oct 14, 2009, By Matt Valley

Job growth nationally will be “non-existent” until the second half of 2010, followed by a gradual but weak recovery, predicts Georgia State University economist Dr. Rajeev Dhawan, who adds that a lack of business investment is at the root of the employment crisis....

Brownfield Developer Jim Jacoby Is Aglow Over Alternative Energy Business 

Oct 13, 2009, By Sibley Fleming

On the 15th floor of his office building overlooking Atlantic Station, Jim Jacoby sits in the conference room, the sleeves of his plaid shirt rolled up almost to his elbows. Site plans, charts and renderings fill the perimeter of the room. ...

Foreign Investment in U.S. Property Revives after Bad Fall 

Oct 9, 2009, By Denise Kalette

Foreign investment in the U.S. is showing signs of life again after a deep plunge earlier this year. Globally, the U.S. has been hardest hit by a deep spending decline, according to a new report by Chicago-based Jones Lang LaSalle’s International Capital Group. ...

Private Equity Real Estate Fundraising Lowest Since 2003 

Oct 8, 2009, By Sibley Fleming

A total of 17 private equity real estate funds worldwide raised $4.9 billion in third quarter 2009, the lowest fundraising total for a quarter since the third quarter of 2003, when 17 funds raised $3.2 billion, reports London-based research firm Preqin. ...

Starwood Capital Wins Bid for Corus Bank Assets  

Oct 7, 2009, By Denise Kalette

A private equity consortium led by Starwood Capital Group beat seven other bidders with its offer to pay $554 million for a 40% stake in the assets of failed Corus Bank, according to an announcement by the Federal Deposit Insurance Corp. (FDIC)....

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