Commercial Mortgage

Commercial property news from RealEstateJournal.com

WSJ.com: Commercial Real Estate Fri, 29 Aug 2008 16:35:08 EDT

Hochfelder Accused of Larceny in Deals  New York real-estate investor Adam Hochfelder has been arrested for allegedly "stealing more than $17 million from a panoply of banks and individuals." Fresh Powder for Ski Towns  Related has built signature buildings that helped to transform neighborhoods in Manhattan, Phoenix and South Florida. Now, the big-market developer is attempting a $3 billion redevelopment to transform Snowmass, Colo. Hedge Funds Help Fill a Gap  More investors seeking financing to acquire office towers, retail stores and hotels are left with little choice but to turn to so-called hard-money lenders, lightly regulated businesses that charge high interest rates for short-term loans. Among the biggest players in the hard-money arena are hedge funds. New York's 9/11 Site Needed a Logue  Rebuilding Ground Zero is arguably the greatest political and bureaucratic fiasco in the history of the world. Planner Edward J. Logue would have provided the leadership that the 9/11 site needed desperately and never had. Citigroup Veteran Takes Apollo Job  Apollo Management LP has hired a senior Citigroup Inc. executive to build its real-estate business. Retailers Take a Slower Road in India  Retail sales in India were expected to double in the next seven years, but growth has been disappointing. As a result, companies large and small are rethinking their expansion plans in the country. State at Crossroads Over Turnpike  Governments and firms are awaiting a state vote, which would lease the 537-mile Pennsylvania Turnpike to a group of private investors. A green light could bolster the political will of officials in other states trying to hash out similar deals. Japan Developers' Woes Grow  Japan has seen a raft of property developers go to the wall this year as banks have refused to refinance their loans. Analysts say the bankruptcy filings are likely to set off a vicious cycle that will weigh on the sector's shares in the coming months. People Who Live in Glass Houses  Wall-to-wall windows have become a signature of chic urban living, from Minneapolis to Miami. But some residents say the reality can be less glamorous. Mortgage Rates Fell in Week  Rates on fixed-rate home mortgages fell this week, following reports of weakness in the economy. But rates on adjustable-rate mortgages rose slightly. Paulson Cuts Price of Hampton Home  John Paulson cuts the price on his Hamptons home; Manhattan's Spence School buys a townhouse; NBA's Ray Allen trims the price of his Washington home, while a few miles away MLB's Jay Buhner lists his house. Fannie, Freddie Impact on Banks Downplayed  Federal bank regulators said they believe a plunge in the preferred shares of Fannie Mae and Freddie Mac would have limited impact through the banking system. Westfield Group's Net Slides  Westfield Group said its interim net profit fell 35% as gains from property revaluations dropped. With Republicans, It's a Green State  Hotels in the Twin Cities are banking on John McCain and the Republican National Convention to lift a tourism market strained by a surge in rooms and increasingly budget-conscious travelers. From a Doorman to Dorm Rooms  Columbia recently bought 127 high-end condos and has converted the building into housing for graduate students and faculty … Two decrepit Texas malls are headed for foreclosure and auction unless the owner principal owner Thomas E. Morris can once again forestall the process or pay off his lender. Simon, Westfield Buy Into U.K. REIT  Liberty International's shares rose 5.3% in London trading as the property company appears to be the target of a looming takeover bid. Centro Says Lenders May Refuse Extensions  Centro Properties Group warned it can't give assurance that lenders will grant further extensions on its debt payments. Lavish Condo Project Struggles  The struggle of 100 Eleventh Avenue, a glitzy condominium development on Manhattan's west side targeting well-heeled buyers, shows there's no such thing as a sure thing in the current wretched credit climate. Skyline Gets Facelift Ahead of Asian Games  Ultramodern skyscrapers, new stadiums and a 610-meter-high television and sightseeing structure are in the works in Guangzhou, China's manufacturing hub, as it prepares to host the Asian Games in 2010. Tycoon Finds Opportunity in China Property Slump  Hong Kong property tycoon Vincent Lo made his name and fortune riding China's real-estate boom, and now he sees opportunity as the market stumbles. Tropicana to Put Up Casino for Auction  Tropicana decided to put one of its riverboat casinos on the auction block after delaying for months a proposed $220 million sale.

If you are a mortgage company or broker, please submit your information to be included in our listings.