REAL ESTATE CHANNEL Global News Network

(CHICAGO, IL) Foreign Investors Resurfacing for Prime Properties in U.S. CBD Markets

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 16:47:50 -0700

(CHICAGO, IL) Foreign Investors Resurfacing for Prime Properties in U.S. CBD Markets

(CHICAGO, IL) -- European money is starting to smell the potential near-future deals in the U.S. commercial real estate kitchens.Jim Postweiler, a managing director in the Chicago office of Jones Lang LaSalle and an advisory member of The Real Estate...

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(WASHINGTON, D.C.) FHFA Authorizes Fannie Mae and Freddie Mac to Expand Home Affordable Refinance Program to 125 Percent Loan-to-Value

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 16:47:26 -0700

(WASHINGTON, D.C.) FHFA Authorizes Fannie Mae and Freddie Mac to Expand Home Affordable Refinance Program to 125 Percent Loan-to-Value

(WASHINGTON, D.C.) -- The Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to expand the Home Affordable Refinance Program (HARP) to homeowners who are current on their mortgage payments from the present loan-to-value ratio ceiling of 105 to 125 percent. Read More

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(NEW YORK, NY) How Unemployment and Inflation Could Affect Commercial Real Estate Values

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:58:32 -0700

(NEW YORK, NY) How Unemployment and Inflation Could Affect Commercial Real Estate Values

(NEW YORK, NY) -- The most common question I am asked these days is, "When will the good times return to the commercial real estate market?" That question is impossible to answer with accuracy as we are in unprecedented times ...

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(WASHINGTON, D.C.) Mortgage Applications Decrease in Latest MBA Weekly Survey

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:57:07 -0700

(WASHINGTON, D.C.) Mortgage Applications Decrease in Latest MBA Weekly Survey

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 444.8,

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(RIVERSIDE, CA) Pinnacle Picks Up Marriott Riverside at Bargain Price of $19.3M

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:56:20 -0700

(RIVERSIDE, CA) Pinnacle Picks Up Marriott Riverside at Bargain Price of $19.3M

(RIVERSIDE, CA) -- The bargain-basement acquisition chute has opened in the U.S. hotel industry.San Diego based Pinnacle Hotels USA has purchased the 292-room, 12-story Marriott Riverside in Riverside, California for $19.3 million or $66,000 per room. Sunstone Hotels (NYSE: SHO)...

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(LONDON, UK) Germany Hotel Forecasts Make Tough Reading

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:55:38 -0700

(LONDON, UK) Germany Hotel Forecasts Make Tough Reading

(LONDON, UK) -- Forecasts from the May 2009 Hotel Market Forecast report from STR Global indicate that average daily rate declines during the next 24 months across Germany's major cities will be the main cause of the industry's sluggish performance.

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(WASHINGTON, D.C.) May 2009 Construction at $964 Billion Annual Rate

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:55:13 -0700

(WASHINGTON, D.C.) May 2009 Construction at $964 Billion Annual Rate

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2009 was estimated at a seasonally adjusted annual rate of $964.0 billion, 0.9 percent (±1.1%)* below the revised April estimate of $972.5 billion.

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(ALGARVE, PORTUGAL) Crowne Plaza Hotel Moves into Portugal

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:54:43 -0700

(ALGARVE, PORTUGAL) Crowne Plaza Hotel Moves into Portugal

(ALGARVE, PORTUGAL) -- The Crowne Plaza Vilamoura, set to open in January 2010, will be the first Crowne Plaza hotel in Portugal. The historic deal is the first franchise agreement between IHG (InterContinental Hotels Group) and the Grupo Marope,

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(WASHINGTON, D.C.) Pending Home Sales Record Fourth Straight Monthly Gain

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Wed, 01 Jul 2009 15:54:10 -0700

(WASHINGTON, D.C.) Pending Home Sales Record Fourth Straight Monthly Gain

(WASHINGTON, D.C.) -- Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity,

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(LOS ANGELES, CA) CBRE Releases Global Retail Report, New York City Still Most Expensive Market

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Tue, 30 Jun 2009 16:24:13 -0700

(LOS ANGELES, CA) CBRE Releases Global Retail Report, New York City Still Most Expensive Market

(LOS ANGELES, CA) -- Despite prime retail rents that have fallen in almost every region worldwide as the global recession impacts consumer sentiment and retail sales, New York City remains the world's most expensive retail destination,

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(LONDON, UK) Blackstone Eyes Fresh European Commercial Real Estate Acquisitions with $4.3B War Chest

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Tue, 30 Jun 2009 16:23:42 -0700

(LONDON, UK) Blackstone Eyes Fresh European Commercial Real Estate Acquisitions with $4.3B War Chest

(LONDON, UK) -- Cash is king and no one knows it better than international real estate giant Blackstone Group.The New York City-based conglomerate says it has raised 3.1 billion euros ($4.3 billion U.S.) for a fund to invest in property...

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(ORLANDO, FL) Where Leisure Travelers Want To Go

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Tue, 30 Jun 2009 16:23:09 -0700

(ORLANDO, FL) Where Leisure Travelers Want To Go

(ORLANDO, FL) -- The summer vacation season is now upon us, and the latest results from Y Partnership's travelhorizons survey suggest the industry should be cautiously optimistic about what the next few months will bring. Specifically, fully 54% of U.S....

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(NEW YORK, NY) Pace of Home Price Declines Moderate in April According to S&P/Case-Shiller Home Price

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Tue, 30 Jun 2009 16:22:44 -0700

(NEW YORK, NY) Pace of Home Price Declines Moderate in April According to S&P/Case-Shiller Home Price

(NEW YORK, NY) -- Data through April 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, ... Read More

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(SAIGON, VIETNAM) Saigontourist Lines Up 5 Hotel Purchases in Bid to Tackle Recovering Global Markets

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:03:17 -0700

(SAIGON, VIETNAM) Saigontourist Lines Up 5 Hotel Purchases in Bid to Tackle Recovering Global Markets

(SAIGON, VIETNAM) -- With a war chest estimated at over $1 billion, Saigontourist is scouting for 200-room-plus hotels in city centers that will make it a name player in the international lodging industry.The company already has contracted to purchase the...

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(NEW YORK, NY) AIG Unloads Russian Bank Subsidiary to French Bank

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:02:44 -0700

(NEW YORK, NY) AIG Unloads Russian Bank Subsidiary to French Bank

(NEW YORK, NY) -- American International Group, Inc., (AIG-NYSE) the federal government's poster boy for bailout rescue money, continues to sell off non-core assets, as ordered by the Treasury Department.AIG has received a total $180 billion in taxpayer rescue funds...

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(CAMP HILL, PA) Rite Aid's $1.9B Refinancing Package Gives Drugstore Chain Fiscal Breathing Room

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:02:10 -0700

(CAMP HILL, PA) Rite Aid's $1.9B Refinancing Package Gives Drugstore Chain Fiscal Breathing Room

(CAMP HILL, PA) -- The 4,800-store Rite Aid Corp. won a breather today. The Camp Hill, PA-based drugstore chain closed refinancing deals totaling $1.9 billion. Many of the older loans would have come due in September 2010."We are very pleased...

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(DUBAI, U.A.E.) Billion-Dollar Merger of Middle East Real Estate Giants Shoots for October Closing

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:01:41 -0700

(DUBAI, U.A.E.) Billion-Dollar Merger of Middle East Real Estate Giants Shoots for October Closing

(DUBAI, U.A.E.) -- The deal is so big and so unprecedented; none of the parties involved knows the estimated value of the transaction at this date.One thing they do know is that the debt load of the combined entities will...

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(POTOMAC, MD) Willco Companies to Launch $100 Million Real Estate Investment Fund

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:01:10 -0700

(POTOMAC, MD) Willco Companies to Launch $100 Million Real Estate Investment Fund

(POTOMAC, MD) -- Willco Companies, a locally owned and managed commercial property development and investment firm founded in the early 1960's with a five million square foot commercial real estate portfolio, will soon close the $100 million Willco Fund I LP.

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(NEW YORK CITY, NY) Jinxed Bank of America Tower in NYC Lines Up $1.3B Loan to Finish Construction

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:00:36 -0700

(NEW YORK CITY, NY) Jinxed Bank of America Tower in NYC Lines Up $1.3B Loan to Finish Construction

(NEW YORK CITY, NY) -- New York City Mayor Michael Bloomberg is calling it the biggest commercial real estate financing package created since the Recession kicked in 20 months ago.Five banks have put together a $1.3 billion loan for The...

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(WASHINGTON, D.C.) Big-Name REITs Await Fed's New TALF Loan Program

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 17:00:05 -0700

(WASHINGTON, D.C.) Big-Name REITs Await Fed's New TALF Loan Program

(WASHINGTON, D.C.) -- About a dozen big-name REITs are jockeying for position to participate in the first commercial mortgage-backed securities loan deals undertaken by the federal government.That starting gate is scheduled to come up in July or August. The Fed's...

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(STOCKHOLM, SWEDEN) Choice Hotels Scandinavia Buys 2 Rivals to Emerge as Stockholm's Top Dog

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 16:59:36 -0700

(STOCKHOLM, SWEDEN) Choice Hotels Scandinavia Buys 2 Rivals to Emerge as Stockholm's Top Dog

(STOCKHOLM, SWEDEN) -- Choice Hotels Scandinavia is not shy on its near-future growth plans. The chain aims to continue being the top lodging organization in Scandinavia through new acquisitions.With its announced acquisition today of rival Nordic Light and Nordic Sea,...

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(HONG KONG, CHINA) The Hongkong and Shanghai Hotels Ltd. Subsidiary Lands $1.2 B Credit Facility

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 16:59:07 -0700

(HONG KONG, CHINA) The Hongkong and Shanghai Hotels Ltd. Subsidiary Lands $1.2 B Credit Facility

(HONG KONG, CHINA) -- Is the lending spigot at last opening all the way for international hotel owners? In Hong Kong today, the signs are evident they are.The Hongkong and Shanghai Hotels, Limited (HSH), a hotel and property company listed...

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(LONDON, UK & HENDERSONVILLE, TN) STR Reports Worldwide Hotel Performance Results For May 2009

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 16:58:37 -0700

(LONDON, UK & HENDERSONVILLE, TN) STR Reports Worldwide Hotel Performance Results For May 2009

(LONDON, UK & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for May 2009, ...

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(IRVINE, CA) California Hotel Defaults Jump 125% in Last 60 Days

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Mon, 29 Jun 2009 16:58:07 -0700

(IRVINE, CA) California Hotel Defaults Jump 125% in Last 60 Days

(IRVINE, CA) -- The bells are tolling for financially strapped California hotels. Hotel loans originated in California from 2005 to 2007 are coming due this year and the borrowers are stuck. They can't repay the loans.The number of California hotels in...

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(IRVING, TX) Cobalt Capital Partners Acquires 1.7M SF Atlanta Industrial Portfolio

Michael Gerrity - Founder & CEO (REAL ESTATE CHANNEL) — Fri, 26 Jun 2009 16:14:57 -0700

(IRVING, TX) Cobalt Capital Partners Acquires 1.7M SF Atlanta Industrial Portfolio

(IRVING, TX) -- Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT II affiliate, has acquired the 1.7 million square foot, nine building Shawnee Ridge Industrial Portfolio in Atlanta, Georgia.The seller was SAR at Shawnee Ridge LLC. Price and terms...

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