The bank-owned Promenade Shops at Centerra was sold to a New York-based real estate company for $75 million. G&I VI Promenade LLC purchased property in the Millennium East first division from CLC REO LLC (and entity created for the purpose to handle real estate and other assets acquired by KeyBank), and paid almost $10 million [...]
Backers of the Gillioz Theatre are desperate to raise funds in order to keep the historic downtown landmark from being sold in a New Year’s Eve foreclosure sale. Guaranty bank of Springsfield has filed a foreclosure notice over payments that have been delinquent for almost 900 days. The loan covered work done at the Gillioz [...]
Colfin NW Funding LLC filed a foreclosure lawsuit against Park C Limited Partnership, the borrower that operates the Courtyard by Marriott Hotel Northwest under Indianapolis-based Schahet Hotels Inc. The lender went to Marion Superior Court to foreclose on the Courtyard by Mariott property and appoint New York-based Gemini Real Estate Advisors LLC as receiver to [...]
Fred Hutchinson Cancer Research Center is the new owner of an empty office and life sciences building that was facing foreclosure next month. The center purchased the five-story building at 1100 Eastlake Ave E. for $36 million from a partnership led by Bruce Blume, a developer who completed the 177,00 square foot building at the [...]
In the commercial real estate market scenario, occupancy rate and rental rates play an important role in the office complexes. If they are steady and growing, invariably it will instill customer confidence for investment – the backbone of commercial real estate dealings, amounting to billions of dollars every year. As we know, for the last [...]
After 90 years in Whitman, Saftler’s Fabrics lost its longtime location at the intersection of routes 14 and 18 through foreclosure. Joseph Saftler started Saftler’s Fabric back in 1919 selling fabrics ad notions out of a suitcase to woman working in Whitman factories and he opened his first store in Abington in the 1920s but [...]
Call it an irony – lending banks have made billions of profits this year; commercial real estate asset quality continues to improve nationwide; and yet additional lending for commercial properties is yet to take off, excepting multifamily sector. According to latest information provided by CoStar Group, lending activity continues at slightly declining levels for nonresidential [...]
Bremerton’s Comfort Inn and Suites was planned to be sold for $7 million at a foreclosure auction in Kitsap County Courthouse. The only problem that might bother the sellers is that no one show interest in buying the hotel. With the trustee’s sale completed, Bremerton’s Comfort Inn and Suites formally belongs to Whidbey Island Bank [...]
You know commercial property real estate dealings depend upon investors – more than private individuals – hedge funds and trusts like employees’ retirement funds, which are making prudent investments, to earn risk-free return and distribution of profits to their members. These funds are known as “core funds”. They are different from “opportunity” funds, which played [...]
Travesia Corporate Park the high profile office property is scheduled for foreclosure auction. Colonial Savings – as the lender – posted the 46,530 square-foot Travesia Corporate Park for foreclosure – and this is just a part of the development which total 176,000 square feet in three buildings. The reason why this development ended up at [...]
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