Troubles in the tourism business forced the owners of the landmark Hotel del Coronado to win a one month extension on a troubled $260 million mortgage. "The extension will allow all parties to continue negotiations toward a viable long-term restructuring; however, no assurances can be made that such a restructuring may be achieved. We remain [...]
Based on their tracking data from 59 major cities in U.S., the National Association of Realtors has come up with the relieving news for the heavily hit commercial real estate market which is reeling under pressure, to show improvements in fundamentals in 2011. And once the fundamentals are right, the end result of market recovery [...]
Hartford’s largest commercial landlord, Northland Investment Corp. has lost to foreclosure the first tower it purchased in the capital city the late 1990s, the Metro Center One. The foreclosure auction and more precisely the fact that Metro Center entered into foreclosure raises questions about the health of Newton real estate firm and the revitalization of [...]
The Shops at Atlas Park will be up for auction on January 28, pursuant to a judgement of foreclosure and sale. Atlas Park is an open-air shopping and entertainment center located on Cooper Avenue in Glendale, and is home to more than 20 businesses that have had turbulent fiscal quandaries in recent years. They started [...]
A Marion County judge approved a lender’s request to foreclose on the four building office complex at Allisonville Road and East 86th Street. The owners of the complex, Blue Real Estate of Glendale, California, defaulted on a $22.6 million loan in June, the foreclosure lawsuit papers say The company bought the office complex back in [...]
Consequent upon the beleaguered commercial real estate market, there has been a wave of Commercial Market Based Securities (CMBS) Retail Loan Delinquencies in the past few years. The reason is consumer spending has shrunk; linked to depleted household income; again linked to growing unemployment – which has resulted adversely, in the commercial real estate market. [...]
Grand Rapid’s biggest office building is listed fore a sale at a public foreclosure auction next month. The 17-story blue-glass Bridgewater Place dramatically changed the city’s skyline when built in the early 90s. Many people refer to the building as the Varnum building because of the firms’ prominent logo near the top floor. The law [...]
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