Business briefs Oct 22, 2009
"The company continues to remain profitable despite the ongoing nationwide economic downturn and the weak real estate market," said CEO Williams H. McMunn. "The third quarter was marked by one real estate transaction and improved golf operating results. Our income property portfolio remains a solid source of income generation.". (Daytona Beach News Journal -- Business)
Real Estate Outlook: Mixed Signals Oct 21, 2009
Real Estate News and Advice ... Where are the economy and real estate headed in the coming months ... Kenneth R. Harney writes an award-winning, nationally-syndicated column on housing and real estate from Washington, D.C. He is also managing director of the National Real Estate Development Center, a professional education company. (RealtyTimes)
Florida Condos Head to New Lows Oct 21, 2009
So says real estate consultant Jack McCabe, who has earned the reputation as South Floridas top residential real estate analyst ... Prices will probably slip further when the $1 billion worth of South Florida condos financed by failed Corus Bankshares goes on the market, said Peter Zalewski, principal of Condo Vultures real estate brokerage. (Newsmax)
Don Peebles: I may run for District mayor Oct 20, 2009
District native and real estate mogul Donahue Peebles says he is considering running for mayor against Adrian Fenty next year ... has a real estate portfolio estimated at $4 billion, told the Washington Business Journal he will either run himself or support another candidate because of what he called a continued pattern of a lack of oversight and accountabilty under Fenty ... Although he spent much of the real estate boom doing projects in the South, he has been more visible in D.C. in the last... (Washington Business Journal, DC)
Not all government contract holders are truly small Oct 19, 2009
The Republican-American. Monday, October 19, 2009 3:18 AM EDT. (Republican-American)
Report: Reno, Vegas housing markets to be weakest Oct 18, 2009
Veros Real Estate Solutions is forecasting a 12 percent median price decline in Reno for both new and existing single-family homes over that period, the biggest drop in the nation. According to the firm's VeroFORECAST, Las Vegas came in a close second with a projected 11 percent loss in home values over the next year. (OregonLive, OR -- Business)
Rick continues as Category 5 hurricane off Mexico Oct 18, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
The most expensive cities in America Oct 18, 2009
Despite a dismal real estate market, Miami offers vibrant nightlife, and a large consortium of creative professionals. And Boston, while pricey, is home to Harvard and MIT universities, which means there will be a steady stream of new residents to help prop up its local economy. (MSNBC -- Business)
Empty stores piling up in metro area Oct 17, 2009
Vacancy has soared to 23 percent, according to real estate research and advisory firm Property and Portfolio Research. That s higher than Miami and Chicago and the 13th highest out of 54 markets. (Atlanta Business Chronicle, GA)
Buyers Sue Trump in Miami Condo Glut as Values Seen Returning to '89 Level Oct 17, 2009
Oct. 16 (Bloomberg) -- Robert Cooper says he has found a way to make money in South Floridas real estate bust ... Condos on which they made deposits of up to $1,000 a square foot in 2006 are now selling for $125 to $350 a foot, said , a real estate consultant in Deerfield Beach, Florida ... In Dade, Broward and Palm Beach counties, there are more than 43,000 condos and townhouses on the market, almost 1-1/2 times the number of single-family homes, according to Condo Vultures LLC, a Bal... (Bloomberg)
Committee nixes affordable housing funding Oct 16, 2009
Anne Manning, executive director of of Greater Miami, said people have the wrong idea about the real estate downturn ... South Florida Real Estate. (South Florida Business Journal, FL)
Premier Valley Bank earnings drop 61.6% Oct 16, 2009
President and chief executive J. Mike McGowan said the results reflect the challenging times, including "unprecedented low short-term interest rates and continuing softness in local economic conditions, including real estate markets.". McGowan said the bank is building capital and reserves and is well-positioned for the future. (Fresno Bee)
BofA files two commercial foreclosures Oct 16, 2009
The Center in Davie and the condominium project in South Beach have been caught up in s run of commercial real estate foreclosures ... South Florida Real Estate. (South Florida Business Journal, FL)
FP&L nuclear expansion goes to PSC Oct 15, 2009
FPear expansion goes to PSC - South Florida Business Journal. for free extra services. (South Florida Business Journal, FL)
Opus South condo towers to change hands Oct 15, 2009
real estate developer Two others Opus East LLC and Opus West Corp. also have sought bankruptcy protection ... Tampa Bay Real Estate. (Tampa Bay Business Journal, FL)
Jeffrey Hernandez and Art Johnson live interview at 9:30 a.m. Oct 15, 2009
Mr. Hernandez should explain to us how he can serve as Chief Academic Officer in Palm Beach County implementing changes that fundamentally change education while he moonlights as a Real Estate agent for Century 21 Gables Gate Reality in Miami. William A. Cellich. (The Palm Beach Post)
Columnists call for Jauron's head Oct 13, 2009
for free extra services. Subscribe to Business First. (Buffalo Business First, NY)
Cruise along the Charles Oct 12, 2009
Other boldfacers at the ballpark included Celtics co-owner Steve Pagliuca - in a first, the Senate hopeful placed ads on the K cards - Olympic gold medal swimmer Jenny Thompson, nightlife nabob Patrick Lyons, Dropkick Murphy Ken Casey, Sox alum Dwight Evans, Suffolk Construction s John Fish, rocker Bill Janovitz, New Boston Fund s Jerry Rappaport Jr., Intercontinental Real Estate s Peter Palandjian, Mandarin Oriental developer Robin Brown, Entercom exec Julie Kahn and husband Dan Scully, former... (Boston Globe)
Retail rents suffer in ritzy neighborhoods Oct 12, 2009
Not retail ones, but real estate ones ... South Florida Real Estate. (South Florida Business Journal, FL)
Colo. group buys $14M note on Fla. project Oct 10, 2009
In May, Colorado & Santa Fe Real Estate affiliate Vista Rio Partners bought an $8. 5 million mortgage covering the 60-unit Villa Lante condo project in Miami from. (Denver Business Journal, CO)
Lakes on the Green faces foreclosure Oct 10, 2009
This is the fifth pending foreclosure lawsuit in Miami-Dade that names Espinosa, Cambert, Beane and one of their real estate entities ... South Florida Real Estate. (South Florida Business Journal, FL)
South of Fifth faces $79M foreclosure Oct 9, 2009
Adam Greenburg, the managing director of Miami-based , said the developer s asking price of $1,300 a square foot was way too expensive for this real estate market ... South Florida Real Estate. (South Florida Business Journal, FL)
Foreclosures Mark Pace of Enduring Housing Crisis Oct 9, 2009
A recent pickup in sales and home prices in some regions has been heralded as a sign that the crisis in residential real estate may be close to bottoming out, after the steepest price decline since at least 1890. But nearly half of recent sales have been attributed to foreclosures or "short sales" at bargain-basement prices. (Newsmax)
Spire's $118M construction loan is sold Oct 9, 2009
Corus was plagued by problem loans in states hit hard by the residential real estate downturn, including Florida, Arizona and California ... Ross is also CEO of New York real estate firm Related Cos. (Denver Business Journal, CO)
Oaks at Hidden Harbor note sold Oct 9, 2009
HH Oaks, an affiliate of Colorado & Santa Fe Real Estate Co., bought the $14 million mortgage from the bank on Sept. 25, according to Miami-Dade County Circuit Court records ... In May, Colorado & Santa Fe Real Estate affiliate Vista Rio Partners bought an $8 ... South Florida Real Estate. (South Florida Business Journal, FL)
Starwood wins Corus assets Oct 7, 2009
The FDIC will keep a 60 percent stake in the non-performing construction loans and real estate assets that have an unpaid principal balance of about $4 ... Starwood's Northwest Investment LLC consortium includes Capital (formerly Texas Pacific Group), and WLR LeFrak, a venture that involves investor Wilbur Ross and real estate company the LeFrak Organization ... Its banking operations were split from its real estate assets. (South Florida Business Journal, FL)
Starwood, TPG Make Winning Corus Bid in Jostle for Cheap Real Estate Loans Oct 7, 2009
as investors scramble to acquire commercial real estate loans at a fraction of their face value ... Its a healthier sale than some people thought it would be, said , chief investment officer of Global Realty Partners, the unit of Cohen & Steers Inc. that invests in private equity real estate funds ... Private-equity firm TPG has targeted real estate-related concerns before, including Harrahs Entertainment Inc.. (Bloomberg -- US)
Houston Nutt press conference transcript Oct 6, 2009
Real estate is very valuable. Each time a back, receiver or tight end touches a ball - get north. (Ole Miss Sports -- Rivals.com)
Kohjinsha Packs Dual 10-inch Screens Into Laptop Oct 6, 2009
The aim is to pack as much screen real estate into a small form factor, Kohjinsha said. Other specifications of the laptop include up to 4GB of RAM, support for 802. (Yahoo News -- Technology)
Celebrity captains promote Fla. fishing Oct 6, 2009
Captains promote Florida fishing, state films waterfronts - Tampa Bay Business Journal. for free extra services. (Tampa Bay Business Journal, FL)
BankUnited seeks office condo foreclosure Oct 3, 2009
This is the fifth pending foreclosure lawsuit that names Espinosa, Cambert, Beane and one of their real estate entities. The lawsuit includes two mortgages to Power One Real Estate ... The other foreclosure involving the trio is a $900,000 complaint brought by against Power One Real Estate over three residential units in the Lake Placid Condominiums in Miami Lakes. (South Florida Business Journal, FL)
New Miami incentives target vacant homes Oct 3, 2009
Grant Stern, president of Miami-based , said the program has the potential to help the local real estate market continue to gain traction ... South Florida Real Estate. (South Florida Business Journal, FL)
OHare-area hotel faces foreclosure Oct 2, 2009
In a highly leveraged deal, Blue Ribbon paid $11 million for the real estate in October 2006, property records show, a price that doesnt include related businesses, such as meetings. The original principal amount of the loan was $11. (Crain's Chicago Business)
Investor Report: Mini Miami Boom Oct 2, 2009
Real Estate News and Advice ... Many of the foreign buyers are scooping up what they see as prime real estate at once in a lifetime prices ... Kenneth R. Harney writes an award-winning, nationally-syndicated column on housing and real estate from Washington, D.C. He is also managing director of the National Real Estate Development Center, a professional education company. (RealtyTimes)
'Condo vulture' featured in Moore film Oct 2, 2009
Florida s up and coming real estate whiz is how filmmaker Michael Moore introduces managing principal Peter Zalewski in his new film about capitalism ... Since going it on his own, he launched a Web site that features stories on real estate activity in South Florida, and distributes a real estate-specific newsletter ... He also has a real estate brokerage called Condo Vultures Realty. (South Florida Business Journal, FL)
Corus Bank loan buyer could resell loans Oct 1, 2009
Whoever buys s $4 billion commercial real estate loan portfolio out of receivership likely will resell many of the projects shortly after the deal closes ... 42 billion in commercial real estate loans and $463 million in repossessed properties ... South Florida Real Estate. (South Florida Business Journal, FL)
SoBes Raleigh Hotel finds buyer Oct 1, 2009
a Miami-based real estate private equity firm, and AJ Capital Partners, a Chicago-based real estate investment company, purchased the 105-room hotel in an all-cash transaction, according to a news release ... In a challenging environment with an abundance of real estate investment opportunities, The Raleigh stood apart as a flagship of Art Deco design in South Beach, said Ben Weprin, CEO of AJ Capital Partners ... South Florida Real Estate. (South Florida Business Journal, FL)
Former site of Sonesta Key Biscayne sold for $78M Sep 30, 2009
The former site of the Sonesta Key Biscayne has been sold for $78 million to an Argentine real estate investment and development company ... South Florida Real Estate. (South Florida Business Journal, FL)
Bilzin Sumberg signs with 1450 Brickell Sep 30, 2009
Blanca Commercial Real Estate President and CEO Tere Blanca and Executive Vice President Danet Linares handled the deal ... The building s leasing broker is Jack Lowell, VP of Flagler Real Estate Services in Coral Gables ... South Florida Real Estate. (South Florida Business Journal, FL)
Chinese drywall maker held in default Sep 26, 2009
Court holds Chinese drywall maker in default - Jacksonville Business Journal. for free extra services. (Jacksonville Business Journal, FL)
Staubach, others dare to make predictions Sep 25, 2009
s Denver branch agrees with Berra, but decided it was important to make some prognostications about the global, national and local commercial real estate markets future anyway at a Thursday breakfast event ... Industry experts gave overviews of the capital markets, industrial real estate trends and the office market ... The economic forecast panelists had the following to say about the future of commercial real estate. (Denver Business Journal, CO)
Notes » Sep 25, 2009
Despite a slumping real estate market and the vitriol towards Bernie Madoff, the scorned financial advisor's Montauk estate sold for more than the asking price of $8. 75 million, two weeks after it was listed for sale. (ESPN -- Outdoors)
Miami: 10 Things to Do in 24 Hours Sep 24, 2009
But this collective weirdness happens to sit on one terrific piece of real estate. Miami has turquoise waters and white sand beaches. (Time.com)
CSD Architects to shut down after 62 years in business Sep 24, 2009
The pending closure is one of the most severe signs yet of the toll the commercial real estate slump has placed on the architecture industry ... Schamu said his 27-year-old firm has weathered prior real estate slumps. (Baltimore Business Journal, MD)
Father of slain Florida family held in Haiti Sep 23, 2009
Demonstrating once again that making predictions about real estate is inadvisable, latest figures. The Frankfurt Auto Show showcases the newest in high concept cars from makers like Mercedes, Porsche and Audi, and runs through September 27th. (San Francisco Chronicle)
Manning leads Colts past Dolphins, 27-23 Sep 23, 2009
INDEPENDENT-ENTERPRISE. NEWSPAPERS IN EDUCATION. (Ontario Argus Observer, OR)
Miami's Farmer School wins accolade Sep 22, 2009
Miami U. ranked among top accelerated MBA programs - Dayton Business Journal. for free extra services. (Dayton Business Journal, OH)
Regions pays $1M fine for investment fraud Sep 22, 2009
SEC hits Regions with $1M fine for investment fraud - Memphis Business Journal. for free extra services. (Memphis Business Journal, TN)
Gunmaker to stay, grow Sep 22, 2009
Taurus to remain in Miami Gardens - South Florida Business Journal. for free extra services. (South Florida Business Journal, FL)
How would you rate the Falcons performance? Sep 21, 2009
Of course, if you feel bad for making such an ignorant statement, Philly is just about 800 miles NE. Let me call a real estate agent for you. TonyH. (Atlanta Journal-Constitution -- Sports)
Dubai World planning shake-up Sep 20, 2009
DUBAI, United Arab Emirates Dubai World, the emirate s main holding company, said this past week it is shifting executives and real estate from its property division Nakheel to the investment fund that owns Barneys New York and part of Cirque Du Soleil as it scrambles to convince lenders it can pay back its debts ... The pullout by the emirate s two biggest developers illustrates a shift in focus toward completing existing projects rather than rolling out dazzling new ones amid the real estate... (Orangeburg Times and Democrat, SC)
BofA seeks foreclosure on Fla. projects Sep 19, 2009
BofA seeks foreclosure on Fla. projects - The Business Journal of the Greater Triad Area. (Business Journal of the Greater Triad Area)
Tycoon’s bank struggles for survival Sep 18, 2009
But Loudermilk said potential investors have been scared off by the bank s $160 million pool of toxic loans mostly tied to real estate bets gone bad ... The bank grew during the real estate boom, becoming one of the state s largest community banks with nearly $1 billion in assets ... Losses mounted when the real estate market collapsed, and this past April the bank s auditor raised doubts about the company s ability to survive. (Atlanta Journal-Constitution -- Business)
Location key in housing recovery Sep 18, 2009
I think we can make up 70 percent of the difference in the next year and a half, said Steve Palm, president of SmartNumbers, a real estate research firm in Marietta ... Real estate experts say prices will have a better chance at recovery once all of the distressed properties have been sold ... More than 130,000 homes were sold in 2006 at the height of the building boom, according to Metrostudy, a national real estate tracking firm with a office in Atlanta. (Atlanta Journal-Constitution -- Metro)
American cutting St. Louis flight Sep 18, 2009
American to cut St. Louis flight next year - Wichita Business Journal. for free extra services. (Wichita Business Journal, KS)
Fillmore offers $50 'season ticket' Sep 18, 2009
Live Nation offering $50 pass to 2009 concerts at Denver's Fillmore - Denver Business Journal. for free extra services. (Denver Business Journal, CO)
Peachtree Center changes ownership Sep 18, 2009
The deal is a sign that expectations of buyers and sellers are beginning to come together, in the troubled commercial real estate market, said Gregg Metcalf, a vice president at the Alter Group, a real estate development firm in Atlanta. But because this was not an actual asset sale, this concept is speculation. (Atlanta Journal-Constitution -- Business)
BofA wants Everglades on the Bay bankruptcy tossed Sep 16, 2009
A lenders motion to dismiss is a fairly routine occurrence in a bankruptcy of this type, called a single-asset real estate bankruptcy ... South Florida Real Estate. (South Florida Business Journal, FL)
Beverly Hall closing after 50 yrs Sep 16, 2009
He said given the economy and size of his company, he has too much real estate in Atlanta, or 93,000 square feet. Hux said the company owns its Roswell property, and may consolidate into one location there by the end of the year. (Atlanta Journal-Constitution -- Metro)
SEC goes after SoBe condo-hotel developer Sep 15, 2009
However, Falor is alleged to have used the money to buy expensive cars, lease private airplanes, finance other unrelated real estate projects and pay off debts ... South Florida Real Estate. (South Florida Business Journal, FL)
BEING JEWISH: Mass. foundation uses books to reach Jewish kids Sep 14, 2009
The library, named for "pajamas" to encourage bedtime reading, was founded by Jewish real estate entrepreneur Harold Grinspoon. Winnie Grinspoon, his daughter-in-law and a foundation trustee, said the idea is to "help provide resources to Jewish families, anybody who identifies as Jewish ... anybody who wants to be engaged in Jewish life.". (Orangeburg Times and Democrat, SC)
Texas city ravaged by Ike marks 1 year anniversary Sep 13, 2009
"There were only 100 people here. Our grocery store had been reopened in an RV," said Willis, a real estate agent. "I thought it was terrible. How are we going to get through this?". (Fresno Bee -- Local)
Condo loans up for grabs as Corus fails Sep 13, 2009
Ross is CEO of New York real estate giant Related Cos ... It names former real estate investment head Stuart M. Rothenberg, Robert G. Eubanks and Jeffrey S. Quicksilver as directors ... Corus Bank ramped up its condo construction and conversion lending in South Florida in 2002 at the start of the real estate boom. (South Florida Business Journal, FL)
Dangerous staph germs found at West Coast beaches Sep 13, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
Vail Resorts Names Paul G. Toner Senior Vice President & Chief Operating Officer of RockResorts and Vail Resorts Hospitality Sep 12, 2009
Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: ). The Vail Resorts company website is and consumer website is. (PR Newswire)
