General Growth Properties Inc., the Chicago-based shopping-mall owner that is trying to sell real estate to pay debt, put up for sale South Street Seaport in Manhattan, Faneuil Hall Marketplace in Boston and Harborplace & the Gallery in...
Australian investors seem to like Centro's deal with its lenders. It still ultimately means the company will likely be broken up. But now that process can proceed more orderly. That's probably good on all fronts. Forcing too many assets to be sold...
This is somewhat ominous news on the excess space front. Circuit City was planning on auctioning 155 leases today, but decided to cancel the auction because of a lack of bidders. Circuit City instead plans to simply break the leases meaning that...
For the second straight month, the AIA billings index hit a record low. Last month, it fell to a record-low level of 36.2. This month it went down even more, falling to 34.7. ...
Now a New York research company, Real Capital Analytics, has compiled data showing that at least $107 billion worth of income-producing property — including hotels, offices, apartment complexes and warehouses — is already in distress or is headed...
This may seem like a contradiction after yesterday's news about Centro getting an extension. The confusion is a product of Centro's convoluted corporate structure. Yesterday's announcement (the link is below), refers to Centro Retail Properties--a...
Best Buy, the nation's biggest consumer electronics retailer, said Tuesday that its third-quarter profit sank as it faced dramatic changes in consumer spending and added that it will offer buyout packages to nearly all its corporate employees in...
Centro Properties Group, one of Australia's highest profile casualties of the global credit crisis, was given a lifeline on Tuesday when lenders agreed to refinance $4.65 billion in overdue debt. Without the refinancing, Centro could have been...
