Sep 21, 2009

During the third quarter, Macerich (NYSE: MAC) paid off $446 million in term notes due in 2010. The company paid the notes using proceeds from previously announced joint venture sales ($275 million) and operating cash retained by reducing the...

Korpacz Survey Shows Buyers Still Waiting for Distress

Sep 21, 2009

PricewaterhouseCoopers' quarterly Korpacz Real Estate Investor Survey last week found that equity investors are still patiently waiting to acquire decent, stable assets at distressed prices. But the deals have just not materialized, according to...

Forced to Count Every Dollar, Retailers Re-evaluate Site Selection Practices

Sep 15, 2009

Amid all the not-so-great news reported during the dog days of summer—weak back-to-school sales, falling rental rates—there were signs the retail industry might be coming out of hibernation...

Glimcher Secures Key Financing; Preps Common Share Offering

Sep 15, 2009

Glimcher Realty Trust (NYSE: GRT) announced some key breakthroughs in its efforts to address its liquidity position...

Investment Sales Market for Retail Shows No Sign of Improvement

Sep 15, 2009

Those in the retail real estate industry who hoped the second half of 2009 would bring the long-awaited rush of investment sales transactions are likely to be disappointed. As the end of third quarter approaches, deals involving smaller, single...

Retail Leads All Property Types in Special Servicing Volume

Sep 14, 2009

J.P. Morgan Securities Inc.’s latest look at CMBS special servicing revealed that there are now 2,904 loans representing a cumulative $42.9 billion in special servicing. The amount grew by $1.99 billion in August and means that now 6.35 percent of...

Ramco-Gershenson Opts To Stand Alone; Continues Push to Deleverage

Sep 09, 2009

In the latest development in an eventful year for Farmington Hills, Mich.-based Ramco Gershenson Properties Trust, after completing its review of potential strategic and financial alternatives, the firm is opting to remain a stand-alone entity...

Commercial Mortgage Defaults to Continue to Rise

Sep 09, 2009

New projections from Real Estate Econometrics LLC predict that the default rate on commercial mortgages held by U.S. banks will hit a peak of 5.4 percent in 2011, the highest level since 1992, when the default rate hit 4.6 percent. The 5.4 percent...

Macerich and GI Partners Create Joint Venture on FlatIron Crossing

Sep 08, 2009

The Macerich Partnership, L.P., the operating partnership of Macerich (NYSE: MAC) and GI Partners formed a joint venture for Macerich's 1.4-million-square-foot FlatIron Crossing Mall in Broomfield, Colo. Under the terms of the deal, Macerich...

Landlords and tenants have had a trying year, but it is time for the two sides to adopt a joint view of success

Sep 08, 2009

For JMW Development LLC, the renegotiation request came rather unexpectedly. The Minneapolis-based real estate development firm had been working with discount retailer Target for several years on its Commerce Hill project in Woodbury, Minn. The...