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Commercial Finance and Lending

Credit Suisse Being Sued For High Loan-To-Value Loan

January 4, 2010

Tweet Credit Suisse is being sued in Montana for allegedly making loans based on inflated appraisals, so that it could take over when the debts couldn’t be repaid. Classic. This would set a pretty gnarly precedent if the lawsuit goes anywhere. Blixseth is suing for losses from his property at the Yellowstone Club in Montana, […]

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$30M For Circque De Soleil

December 29, 2009

Tweet The LA Times has an article out discussing the CIM Group and the investments and loans it has attracted. Locally, CIM has been a fairly active player in the region over the past few years. In San Jose it is known best for being part of the team behind Tower 88. This spring CIM […]

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Jon Kanas on 2010 Bank Outlook and CRE

December 23, 2009

Tweet John Kanas, CEO of BankUnited was on CNBC providing his outlook for banks in 2010. Back in August, he was on CNBC and projected over 1,000 banks to fail over the next two years. He was back on recently, and his thoughts on the market have remained fairly unchanged. His thoughts are that commercial […]

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Investors Jostling for FDIC Assets

December 23, 2009

Tweet The FDIC has received over a dozen bids for a $1.1B pool of mortgage assets made by now-failed banks. This would mark the second largest sale of FDIC assets since Starwood’s acquisition of Corus Bank assets back in October. No word on how that deal is going, but the deals the FDIC is structuring […]

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Moody’s Commercial Property Price Index Falls Again

December 21, 2009

Tweet Moody’s/REAL CPPI is down again. For the month of October, the index dropped another 1.5% from the previous month’s levels. Prices are now the lowest they’ve been since August 2002 according to the index. Prices are down 36% year-over-year, and 44% off the peak reached in late 2007. The numbers are gloomy, but there […]

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7 Banks Go Down Today; 2 In California

December 18, 2009

Tweet Another Friday, another few banks taken over by the FDIC. Today’s list…. First Federal Bank of California, Santa Monica, CA Imperial Capital Bank, La Jolla, CA Independent Bankers Bank, Springfield, IL New South Federal Savings Bank, Irondale, AL Citizens State Bank, New Baltimore, MI Peoples First Community Bank, Panama City, FL RockBridge Commercial Bank, […]

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CBRE Selling State of California Buildings For .08% Fee

December 18, 2009

Tweet The numbers speak for themselves. The six groups vying to handle the massive sale-leaseback transaction for the State of California were: CBRE, HFF, Eastdil Secured, Jones Lang LaSalle, Cushman & Wakefield, and The Palmer Team. The winning bidder was CBRE, whose bid was .08%. That’s right, one-twelfth of 1%. And they weren’t even the¬†cheapest! […]

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Moffett Towers Lands Rambus For 125K SF

December 18, 2009

Tweet It took a few years, but Moffett Towers has landed a tenant (ht Phil). Rambus (RMBS: 12.93 +2.38%) has become the guinea pig. ¬†It signed a lease for 125,000 square feet on December 15th. The 10-year term begins around July 2010 once its tenant improvements are completed. The space will be delivered turnkey. They […]

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Life Insurers 2010 Losses Estimated at $10B

December 18, 2009

Tweet Moody’s is estimating that life insurers will take a hit of about $10B on commercial real estate investments in 2010. The loss estimate is revised upwards from $7B, but the insurers will fare much better than banks. Insurers are also beginning to again increase their interest in commercial real estate as bond yields have […]

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Commercial Real Estate Videos

December 16, 2009

Tweet Couple videos from CNBC…. #1 Mort Zuckerman on Commercial Real Estate. Zuckerman is chairman of Boston Properties (BXP: 117.36 -0.49%). and #2 Spotlight on Commercial REITs featuring Harvey Green, CEO of Marcus & Millichap. This video doesn’t say anything new, but the last point about small vs large real estate is interesting, because if […]

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