Archive for August 28th, 2008
Continue Reading August 28th, 2008
Unlike previous housing slumps, the one we’re in now has spread from coast to coast. But that doesn’t mean that every market is suffering equally. The worst markets — the ones in Florida, California, Arizona, and Nevada — seem to get all the attention. But in places such as Charlotte, Dallas, Denver, and Portland sales have slowed, but prices haven’t dropped much.
The Bespoke Investment Group published a chart on its Web site using data from the Case-Shiller Median Home Price Index. It shows how much median home prices have fallen from their peaks in each of the 20 cities the index tracks.
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Continue Reading August 28th, 2008
Los Angeles-based Wilshire Finance Partners has introduced Wilshire Income Fund II, its second real estate mortgage pool fund. The fund will raise $100 million to make commercial property loans. This time around, however, the company will be able to welcome investors and borrowers from beyond the borders of the State of California. Read more »
Continue Reading August 28th, 2008
Los Angeles-based Maguire Properties Inc. has closed the disposition of Main Plaza, selling the 607,000-square-foot trophy office complex in Irvine, Calif., to Shorenstein Properties L.L.C for $211 million including the assumption of $161 million of project level financing. Read more »
Continue Reading August 28th, 2008
Developer Horizon Properties has received a $74 million forward permanent loan for the just-completed two-building, 384,000-square-foot corporate headquarters for CONSOL Energy Inc. in Canonsburg, Pa., a Pittsburgh suburb. Read more »
Continue Reading August 28th, 2008
At a technical briefing this week, Shyam Sundar, lead investigator for the federal building and fire investigation of the World Trade Center disaster conducted by the National Institute of Standards and Technology, revealed in detail how fire brought down the 7 World Trade Center building. The reports conclusions were first announced last week. Read more »