Commercial Real Estate Management and Development
Calif. court denies Schwarzenegger building sale
Dec 28, 2010 20:15 EST
Court rules against Schwarzenegger, lets sale of state buildings go to incoming Calif. gov. The California Supreme Court has denied Gov. Arnold Schwarzenegger's request to let him complete the sale of state office properties before he leaves office next week.
A slow-paced rebound on the horizon "I don't see great improvement because I don't see a lot of job creation," said John Restrepo, a principal at Restrepo Consulting. He predicts the industrial sector of the commercial real estate market will bounce back first, but that office vacancy rates will remain high for years.
Dec 28, 2010 19:00 EST
Follow the jobs.
Daewoo wins power plant order from Morocco
Dec 27, 2010 03:18 EST
South Korea's Daewoo Engineering and Construction said Monday it has won a 1.05 billion dollar order to build a thermal power plant in Morocco.
Credit Suisse to sell $2.8 bln CRE portfolio to Apollo: report
Dec 24, 2010 06:53 EST
NEW YORK (Reuters) - Private equity firm Apollo Management <APOLO.UL> is buying a $2.8 billion portfolio of commercial real estate loans from Credit Suisse <CSGN.VX> for $1.2 billion, the Wall Street Journal reported on its website on Thursday.
Hyundai Engineering creditors scrap deal with Hyundai Group
Dec 20, 2010 11:20 EST
Creditors of South Korea's Hyundai Engineering and Construction said Monday they would scrap an agreement to sell their controlling stake in the firm to Hyundai Group for about $4.8 billion.
Shares of Walker & Dunlop stall after IPO debuts
Dec 15, 2010 11:09 EST
Walker & Dunlop's IPO hovers around its asking price after opening at a low $10 per share. Investors are showing little interest in commercial real estate financier Walker & Dunlop Inc. after the company's initial public offering debuted at a lower-than-expected price.
Simon Property offers $4.74B for Britain's CSC
Dec 15, 2010 10:53 EST
Britain's Capital Shopping Centres says no to Simon Property's $4.74 billion buyout offer. Simon Property Group Inc., the largest shopping mall owner in the United States, says it offered $4.74 billion for Britain's Capital Shopping Centres Group PLC which promptly rejected the bid.
US property group bids for Capital Shopping Centres
Dec 15, 2010 05:09 EST
Simon Property Group, the largest public US real estate company, said Wednesday that it has offered to buy Britain's Capital Shopping Centres for almost three billion pounds.
Summary Box: HCP buys HCR ManorCare's real estate
Dec 14, 2010 11:27 EST
Summary Box: HCP makes big expansion with $6.1B deal for HCR ManorCare real estate assets. BIG DEAL: HCP, a health care real estate investment trust, will buy all the real estate assets that belong to HCR ManorCare for $3.53 billion in cash, $852 million in stock or a cash equivalent, and $1.72 billion in funds it previously invested in HCR ManorCare.
Futures flat ahead of Fed, retail data
Dec 14, 2010 07:47 EST
NEW YORK (Reuters) - Stock index futures were little changed on Tuesday as investors awaited the Federal Reserve's assessment of the economy.
Track co-owner to seek common ground in impasse
Dec 02, 2010 18:26 EST
Co-owner of Pimlico, Laurel Park will try to break impasse in Md. that threatens Preakness. The head of the company that co-owns Pimlico Race Course and Laurel Park said Thursday that he will try to break the impasse threatening the future of the Preakness Stakes when he travels to Maryland next week.
Highlights from the Fed's latest economic survey
Dec 01, 2010 18:33 EST
Highlights from the latest Beige Book economic survey of the Fed's 12 regional bank districts. Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.
NJ to challenge feds over $271M tunnel bill
Dec 01, 2010 15:54 EST
NJ to challenge federal government over $271M bill for canceled Hudson River rail tunnel to NY. Gov. Chris Christie plans to challenge the $271 million bill the federal government says New Jersey owes after canceling a rail tunnel connecting his state with New York.
Big contractor settles hiring fraud probe
Nov 30, 2010 08:55 EST
NEW YORK, Nov 29 (Reuters Legal) - A major U.S. construction company agreed to pay $22.4 million and admit to defrauding the government over subcontracting for large public works projects, including the New York City subway.
Commercial mortgage default rates up, pace slows
Nov 29, 2010 17:53 EST
NEW YORK (Reuters) - U.S. commercial real estate loan delinquencies and default rates continued to march toward new records in the third quarter, but the pace of growth slowed, in yet another sign of a nascent industry recovery.
Commercial real estate vacancies peaking: realtors
Nov 29, 2010 10:42 EST
WASHINGTON (Reuters) - Commercial real estate vacancy rates have already peaked or will soon top out, though rents are likely to continue to fall, a realtors group said on Monday.
Deficit hit men target NASA's post-shuttle plans
Nov 25, 2010 10:21 EST
Deficit cuts target NASA's post-shuttle plans for private groups to launch space station crews. NASA's effort to farm out astronauts' space station trips to private companies over the next decade is under fire again, this time by federal deficit hit men.
The Two Sides of Commercial Real Estate
Nov 23, 2010 19:00 EST
Following the plunge in property values and a near freeze in commercial real estate deals during the recession, there are signs of improvement.. Following the plunge in property values and a near freeze in commercial real estate deals during the recession, there are signs of improvement.
Summary Box: Swiss wary as firms seek low tax
Nov 22, 2010 15:47 EST
Summary Box: Swiss wary as more foreign companies seek tax advantage in Switzerland. SIMMERING BACKLASH?: Swiss financial officials say their country could face political pressure from the United States and European Union if foreign companies continue taking advantage of its low tax rates by moving their corporate headquarters to Switzerland.
General Growth to repay $570 million obligations
Nov 10, 2010 08:07 EST
BANGALORE (Reuters) - U.S. mall operator General Growth Properties Inc <GGP.N>, which emerged from bankruptcy on Tuesday, will repay $570 million of outstanding obligations and said it expects to initiate a regular cash dividend from the first quarter of 2011.
