Archive for March, 2010

PwC Korpacz Survey: Cautiously Optimistic

Wednesday, March 31st, 2010

PricewaterhouseCoopers just released their quarterly Korpacz Investor Survey. It appears investors are thankful 2009 is behind them and eagerly await new opportunities in 2010. Their headline for Q1 2010: Investor Sentiment Improves, but Challenges Persist in 2010. Much of investors' increased confidence is rooted in improving economic indicators, a thawing ... More

REO Monitor: 110 Main Street, Dayton, OH

Saturday, March 27th, 2010

Foresite Realty has been named receiver of 110 Main Street in Downtown Dayton for Bank of America and special servicer Centerline Servicing. The former home of Fifth Third Bank's Dayton headquarters, the 363,000-square-foot tower is the 3rd largest office building in the city. Built in 1989, it is one of ... More

REO Monitor: Columbia Center, Seattle

Friday, March 26th, 2010

Wells Fargo has reported that Beacon Capital Partners just missed a $1.65 million mortgage payment on a $380 senior mortgage secured by the largest highrise office building in the Pacific Northwest. Located in downtown Seattle, Columbia Center was acquired by Beacon Capital in April of 2007 for $621 million, or ... More

REO Monitor: W Hotel – Downtown Atlanta

Friday, March 19th, 2010

Atlanta's Downtown W Hotel is the subject of the latest high-profile distress story in the city. Capri Capital, the parent company of the mezzanine lender on the property, recently placed a foreclosure ad in the Wall Street Journal. The auction, which is being managed by Jones Lang LaSalle's Hotel Sales ... More

REO Monitor: Allerton Hotel – Chicago

Friday, March 19th, 2010

The owner of Chicago's Allerton Hotel, located along highly coveted Michigan Avenue, is considering agreeing to giving up the property in a deed-in-lieu of foreclosure action. The 443-room hotel is owned by San Francisco-based Chartres Lodging. The property secures $79 million of loans, which have recently matured. According to a ... More

New Feature: Sold Notifications

Saturday, March 6th, 2010

Sold! Let prospective clients know that you’ve been successful in closing a deal. With every listing on CRE Console, users have the ability to send investors sold property notifications. And now, more than ever, one of the first questions prospective sellers are asking brokers before signing a listing agreement is, "Have ... More

REO Monitor: Citigroup Center, San Fran

Saturday, March 6th, 2010

Broadway Partners has agreed to sign over the deed to Citigroup Center, also known as One Sansome, located in downtown San Francisco, their lender, Prudential Real Estate Investors. According to a report in the San Francisco Business Times, Prudential will assume ownership of the 550,000 square foot office tower later this ... More

Top CRE REO Stories: 3/5/10

Friday, March 5th, 2010

Kushner's 666 Fifth goes to special servicer The Real Deal - March 05, 2010 The $1.215 billion securitized loan secured by the Kushner Companies iconic Midtown office building at 666 Fifth Avenue was transferred to special servicing yesterday as part of an effort to restructure the loan, a company spokesperson told ... More

CPPI posts 4.1% Increase in December

Tuesday, March 2nd, 2010

Moody's/REAL Commercial Property Price Index (CPPI) posted a 4.1% increase in December. This is the first month-over-month gain in the index since the summer of 2007. This increase is also the largest monthly increase in the history of the index. Prices are down 29.2% over the last year, 39.8% ... More