Archive for June 27th, 2008
Continue Reading June 27th, 2008
Is that a swimming pool in front of the Pentagon? Nope. It’s boxer Evander Holyfield’s old Atlanta estate and it has joined the growing list of celebrity homes going into foreclosure.
Thanks once again to the financial trade publication Investment News for this story. We’ve all heard about Countrywide starting foreclose proceedings on its $4.8 million loan on Ed McMahon’s house. The Beverly Hills estate is still listed at $6.5 million.
Other celebrity homes in foreclosure include Holyfield’s $10 million property which he lost in May. Baseball slugger Jose Canseco’s $2.5 million house in suburban Los Angeles. And homes owned by Rep. Laura Richardson and football player Adam “Pacman” Jones.
Actor Dustin Diamond, best known for playing “Screech” on Saved by the Bell sold T-shirts on his Web site and made a pitch to fans for money on the Howard Stern show. That saved his home.
Then there’s the saga of Michael Jackson who avoided foreclosure on the Neverland Ranch only because distressed debt investor Tom Barrack bought the $24 million loan. Barrack is now negotiating to feature Jackson in one of his casinos as part of a restructuring plan.
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Continue Reading June 27th, 2008
An omnibus housing rescue package, some elements of which have been debated in Congress for years, had been on track Wednesday to finally move toward enactment but hit a speed bump that puts in question when lawmakers will vote.
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Continue Reading June 27th, 2008
Savanna, a New York City-based investment and development fund, and a New York City-based hedge fund have originated a $46 million full-recourse senior loan on a 150,622-square-foot office building at 63 West 38th Street in Manhattan. Read more »
Continue Reading June 27th, 2008
Behringer Harvard bought Crossroads Office Park, a seven-story office building in Mission Valley, a submarket two miles northeast of San Diego International Airport and five miles north of downtown. Read more »
Continue Reading June 27th, 2008
Shorenstein Properties L.L.C. has purchased a $250 million senior mezzanine loan backed by 450 Lexington Avenue, a 910,000-square-foot office building located in the Grand Central submarket of Manhattan, N.Y. Read more »
Continue Reading June 27th, 2008
Construction has commenced on the first phase of The Campus at Playa Vista, a new $1.2 billion, 1.6 million-square-foot office complex in West Los Angeles that is being developed by Tishman Speyer on behalf of its joint venture with Walton Street Capital L.L.C. Read more »
Continue Reading June 27th, 2008
Kennedy Wilson has agreed to purchase a 16-story office tower in Los Angeles. The building, 6100 Wilshire, is located adjacent to Beverly Hills at the southwest corner for Wilshire and Fairfax. Read more »
Continue Reading June 27th, 2008
The Sapir Organization has signed a 98,175-square-foot lease at 11 Madison Avenue in New York City to serve as WPP’s Enfatico, the global marketing services firm, worldwide headquarters. Read more »
Continue Reading June 27th, 2008
HF Lakeside II L.L.C., a subsidiary of Sumitomo Corporation of America, purchased a 12-story commercial office tower at Hayden Ferry Lakeside in Tempe, Ariz., from SunCor Development Co. Read more »
Continue Reading June 27th, 2008
The Democratic-led council of New York City has declined Mayor Michael Bloomberg’s proposal to take back a seven percent property tax cut, reported Reuters. Read more »
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