In the hard-hit commercial property market, particularly from the multi-family sector, plagued by innumerable problems of weak economy; tight credit market; and fewer new home sales, here is the story of WCI Communities Inc. returned from a trip to Bankruptcy Court and emerged triumphant in the Florida market. Its new multi-family project – Pelican Preserve [...]
It is an open secret that Texas and particularly its capital Austin are in the fore-front, in the march towards recovery from the downturned market conditions. The reasons are well-founded – a steady economy not much perturbed by the pitfalls of the mortgage crisis, as in the case of other metro cities; job growth in [...]
The developers of the Miami Worldcenter project just loss a $41.9 million judgement and they have to face the reality: the site they planned to build 12 million square feet of space will go to auction. The judgement was won by Fifth Third bank based on $39.5 million in mortgages covering most of the 25-acre [...]
Commercial property foreclosures were not in the glossary or knowledge of American people – until the devastation of mortgage crisis in residential real estate hit them hard. While a home is foreclosed only a family is denied of shelter under their head, but when a commercial property like a beach resort is foreclosed, it being [...]
It needs no elaboration how the commercial property real estate got a beating and is still lingering on the downside. It all started in 2007, closely following the footsteps of the residential real estate going down the hill – courtesy mortgage crisis. The impact of the doom was so heavy, it reflected in the whole [...]
Sheraton Fisherman’s Wharf – San Francisco, California | Oct 28 – Oct 29
Georgia World Congress Center – Atlanta, Georgia | Oct 24 – Oct 27
Westin Diplomat – Hollywood, Florida | Oct 20 23
LeBron James is making a splash in South Florida after joining the Miami Heat, but the Cavalier Hotel is going down. The lender, BDP Bank filed a foreclosure lawsuit against the property owner, Ocean Drive Investment, Cavalier Hotel and managing member Ralph Abravaya, the Miami-Dade County Circuit Court records show. The lawsuit papers talk about [...]
Woes suffered from the mortgage crisis are not yet over it seems, in the commercial real estate property market across the country. Yes – the year 2010 is not that bad as it was in 2008, since we are seeing more encouraging activity in the multi-family housing and industrial production for the last few months. [...]
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