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...
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...
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...
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...
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...
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...
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...
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...
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...
