Commercial Property News - Finance News

Coping with the Capital Markets

Craig Butchenhart — Mon, 13 Oct 2008 12:11:00 EDT

Right now, fundamentals in the multi-family and commercial sectors are not expected to reach distressed levels. But any further erosion of the economy will increase delinquencies and problems in our sector--and there is a reasonable risk that such erosion could occur. But that does not mean commercial real estate players have to sit helplessly on the sidelines.

Will California's Fiscal Pain Spread to Commercial Real Estate?

Eugene Gilligan, Senior Editor — Mon, 13 Oct 2008 12:02:00 EDT

California’s looming fiscal crisis is likely to take its toll on the state’s commercial real estate sector. The credit freeze-up had deprived California of up to $7 billion in short-term financing necessary for day-to-day operations.

Swig Completes Recapitalization of One Beach Street in San Francisco

Elena Gontar, Staff Writer — Mon, 13 Oct 2008 06:53:00 EDT

The Swig Co. has announced it has completed its planned recapitalization of One Beach Street, a 97,000-square-foot office building acquired by the company earlier this year. The asset is situated in the North Waterfront submarket of San Francisco.

ProLogis Takes 300,000 SF Feet near Tokyo

Tom Dworetzky, News Editor — Mon, 13 Oct 2008 06:14:00 EDT

ProLogis Japan Properties Fund II has acquired a $65 million portfolio near Tokyo, it has reported. The deal includes three buildings totaling 300,000 square feet, all fully leased to three separate Japanese companies, located in Akishima City, a logistics hub approximately 50 kilometers from Tokyo's central business district.

As Global Bailout Efforts Increase, All Eyes on Washington

Scott Baltic, Contributing Editor — Fri, 10 Oct 2008 01:34:00 EDT

Even as nonstop efforts continue around the globe to contain the worldwide financial-credit crisis, there’s a sense of anticipation as the Group of Seven finance ministers and central bank heads meet in Washington starting today.

Citi Backs Out of Wachovia, Plans to Sue Winner Wells Fargo

Barbra Murray, Contributing Editor — Fri, 10 Oct 2008 01:12:00 EDT

After days of unquestionably heated talks, Citigroup Inc. has decided to relinquish its bid to buy Wachovia Corp.'s banking operations. This paves the way for Wells Fargo & Co. to follow through with its proposed $15.1 billion acquisition of the troubled financial institution.

Financial Market Update: After the Bell -Friday, Oct. 10

Dees Stribling, Contributing Editor — Fri, 10 Oct 2008 08:07:00 EDT

Investors usually pay lip service to long-term investing, but in times of crisis the reality is sell - everything - now! Panic was the order of the day on Wall Street, which saw the Dow Jones Industrial Average free fall 679 points, or about 7 percent, to the lowest level in five years. The Standard & Poor's 500 also lost about 7 percent. Painfully, especially to those who invested in the market a year ago, October 9 was the first anniversary of the all-time DJIA peak of 14,198.

Financial Market Update: After the Bell -Friday, Oct. 10

Dees Stribling, Contributing Editor — Fri, 10 Oct 2008 08:07:00 EDT

$20M Financing Deal in Place for Atlantic City Retail Property

Fri, 10 Oct 2008 08:02:00 EDT

Financing to the tune of $20 million has closed for English Creek Shopping Center, a 200,000-square-foot retail destination just seven miles from of Atlantic City, N.J. Acting on behalf of the borrower, David Cronheim Mortgage Corp. orchestrated the financing, which came in the form of a 10-year interest-only loan.

HFF Arranges $97M Refi for Industrial Portfolio

Coreen Bailor, Research Editor — Fri, 10 Oct 2008 06:19:00 EDT

The Dallas office of Holliday Fenoglio Fowler L.P. has secured $97.5 million in refinancing for a seven-property industrial portfolio comprising 2.2 million square feet in Florida, New Jersey, Oregon and Texas.

Financial Market Update-Thurs., Oct. 9

Dees Stribling, Contributing Editor — Thu, 09 Oct 2008 02:07:00 EDT

Rather than merely haul away toxic bank assets at unreasonably high prices, thereby rewarding bankers for their bad judgment, word is (via various major news outlets) that Sec. Henry Paulson and his minions at Treasury are actually considering buying ownership stakes in the banks that the department helps with its $700 billion line of credit from the American people.

Financial Market Update-Thurs., Oct. 9

Dees Stribling, Contributing Editor — Thu, 09 Oct 2008 02:07:00 EDT

Central Banks Try Different Strategies to Stabilize Financial Crisis

Scott Baltic, Contributing Editor — Thu, 09 Oct 2008 01:47:00 EDT

Just don’t call it “nationalization.” The Bush administration is reported to be considering taking equity stakes in some high-profile U.S. banks as its next measure to contain the global credit crisis. The decision, which is still up in the air, would not require new legislation, but would instead derive from powers already granted by the Emergency Economic Stabilization Act of 2008.

Central Banks Try Different Strategies to Stabilize Financial Crisis

Scott Baltic, Contributing Editor — Thu, 09 Oct 2008 01:47:00 EDT

Central Banks Try Different Strategies to Stabilize Financial Crisis

Scott Baltic, Contributing Editor — Thu, 09 Oct 2008 01:47:00 EDT

Mission West Closes on $115M in Financing

Barbra Murray, Contributing Editor — Thu, 09 Oct 2008 01:00:00 EDT

Putting up 20 commercial R&D properties totaling approximately 1.6 million square feet as collateral, Mission West Properties Inc. has secured $115 million in financing from entities associated with Hartford Insurance Co.

Mission West Closes on $115M in Financing

Barbra Murray, Contributing Editor — Thu, 09 Oct 2008 01:00:00 EDT

First Potomac Takes Pair of Maryland Properties

Thomas Peretti, Contributing Correspondent — Thu, 09 Oct 2008 06:24:00 EDT

First Potomac Realty Trust has acquired two office properties in Maryland for a total of some $46.8 million.

ProLogis Takes Distribution Centers in Italy, France, U.K.

Tom Dworetzky, News Editor — Thu, 09 Oct 2008 06:46:00 EDT

ProLogis European Properties Fund II has acquired four, fully leased distribution centers comprising more than 1.1 million square feet at locations in France, Italy and the United Kingdom for approximately $106 million, it has reported.

Financial Market Update-Wed., Oct. 8

Dees Stribling, Contributing Editor — Wed, 08 Oct 2008 02:05:00 EDT

The I.M.F.--that's the International Monetary Fund, not the Impossible Missions Force--warned today that the governments of the developed world need to act together to stem the financial crisis, or it could become "increasingly disorderly and costly for the real economy."