Latest Commercial Real Estate News
| BofA Lawyers Rebuked in Cabi Case |
| BofA lawyers have agreed to reimburse lawyers for a Miami developer after a judge's rebuke for trying "to score a litigation point" in an ongoing foreclosure dispute. |
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| European REIT Rollout at Hand |
| With European property markets beginning to recover from the market downturn and global recession, there are signs that the REIT revolution could be at hand. |
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| General Growth Debt Bet Pays Off |
| A handful of investors dug to the bottom of the discount bin and snapped up General Growth's convertible bonds at three cents on the dollar. They now trade at 103 cents. |
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| Marriott Expands in Europe |
| Forty thousand more hotel rooms on the Continent would have Marriott brand names in the next few years under the company's plan. |
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| Farkas Closes Deal to Buy Centerline |
| The New York real-estate investor will buy one of the nation's largest commercial-mortgage-servicing specialists for $100 million in new equity and assuming $180 million of Centerline's debt. |
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| U.K. REIT Plans IPO |
| Metric Property Investments hopes to raise £150 million in an IPO on the London Stock Exchange's main market as it seeks to take advantage of the sharp downturn in property values. |
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| China Vanke's Property Sales Slip |
| China's largest property developer by market share said sales fell in February for the first time in 11 months. The slowdown was anticipated after the government introduced measures to cool off the real-estate market. |
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| Trust Not Enough for Integrity Bank |
| The FDIC is investigating loan practices at Georgia's Integrity Bank, which was seized in 2008 after loaning all its capital to the owner of Casa Madrona Hotel & Spa in California. |
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| General Growth Wins Plan Extension |
| A federal judge hearing mall owner's bankruptcy reorganization grants it four more months of exclusive control over its fate, against the objection of some suitors and creditors. |
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| Dubai World Coughs Up Knickerbocker |
| The former hotel near Times Square has become the latest Dubai World investment to go belly up, and investors are looking to pick up the property at a discount. |
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| Multifamily-Home Builders Inch Back |
| Operators are betting that limited new supply, combined with an improving economy, will lead to ideal market conditions nationwide starting in 2011 or 2012. |
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| Thai Firm Bets on Strong Market |
| Land & Houses plans projects that could fetch as much as $942 million this year, though it cautioned about the country's uncertain political climate. |
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| Helmsley Estate Sells Manhattan Hotel |
| The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million. |
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