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CBRE Profit Declines 22%

April 24, 2012

A 14% increase in revenue couldn’t offset the charges incurred from the firm’s acquisition of the real-estate businesses of ING Groep.

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Eurohypo Unloads U.S. Loan Portfolio

April 24, 2012

Wells Fargo and Blackstone Group have agreed to pay an amount that is between 5% and 10% off the face value of about $560 million.

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Starwood’s Crystal Vision

April 24, 2012

The company wants to capitalize on Baccarat’s swank image with a New York hotel that will have 115 rooms and 64 high-end residences.

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Turkey Aims to Lure Foreign Buyers

April 24, 2012

The Turkish government is close to amending legislation that would allow certain foreign buyers to purchase property. Industry observers hope this will spark demand.

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The Best Spots to Set Up Shop

April 18, 2012

Inside two boutiques’ race for a desirable store site in Beverly Hills.

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J.P Morgan Strips Shopping-Mall Loan From CMBS Issue

April 18, 2012

A $49 million loan on a Florida shopping mall that was facing a foreclosure action before it was refinanced has been stripped from an issue of commercial mortgage-backed securities that J.P. Morgan Chase & Co. is bringing to market this week.

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Buffett Wants This Site To Be Fully Furnished

April 18, 2012

Most retailers don’t build their own stores. But Nebraska Furniture Mart Inc., owned by Warren Buffett’s Berkshire Hathaway, wants to do just that—along with developing a city-within-a-city around it on a 433-acre swath in a Dallas suburb.

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Goldman in Talks On Hotel’s Debt

April 18, 2012

Goldman Sachs, which purchased the massive Marriott Waikiki Beach Resort & Spa in Honolulu in 2005, is in talks to extend or modify the hotel’s debt, which is probably more than the property is worth.

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Starwood Capital to Buy Malls

April 17, 2012

Investor Barry Sternlicht’s Starwood Capital has agreed to buy a 90% stake in seven U.S. malls, including the SouthPark mall in Cleveland, from Australian mall owner Westfield Group for $1.05 billion.

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Cantor Head Looks to Build National Force

April 17, 2012

Howard Lutnick, the head of Cantor Fitzgerald, is aiming to integrate Grubb & Ellis with Newmark to form what he hopes will be one of the leading commercial real-estate-services companies in the world.

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Betting on Vegas Comeback

April 17, 2012

MGM Resorts and Dubai World made an ill-fated bet on the Las Vegas real-estate and gambling market, launching an $8.5 billion casino resort called City Center soon before the market turned. Now, they are betting that the condo market is approaching a bottom.

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Bank Annual Reports: Treasure Maps to $700 Million in Distressed CRE Assets

April 12, 2012

Costar… While the Federal Deposit Insurance Corp. (FDIC) doesn’t reveal the identities of banks listed on its “Problem List” of institutions — ones that the FDIC determines pose a greater risk of loss to its deposit insurance fund — there is nothing stopping the problem banks’ parent companies from identifying themselves. In a study of annual reports filed by bank holding companies in the first quarter of this year, CoStar Group found 15 firms that… Continue reading here: Bank Annual Reports: Treasure Maps to $700 Million in Distressed CRE Assets Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S.

April 12, 2012

Costar… Cross-border investment in real estate reached its highest level in three years in 2011, with New York, Washington, Los Angeles, San Francisco and Chicago accounting for five of the top 10 international markets. However, hopes for a massive influx of foreign capital into U.S. property markets by risk-averse international investors has so far gone unfulfilled. That may be changing, according to recent separate reports from Property and Portfolio… More: SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Property Investors Lie in Wait in China

April 11, 2012

Cash-strapped Chinese property companies may face a reckoning this year amid high debts and a government campaign to bring down housing prices. If that happens, a number of outside investors are waiting to step in.

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Manhattan Tower’s Fate Resolved

April 11, 2012

A group of creditors including Related Cos., CIM Group and HFZ Capital won control of One Madison Park, a nearly-completed glass condominium tower in Manhattan that had been stalled in court fights for more than two years.

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Industrial-Space Showdown

April 11, 2012

Two real estate powerhouses are angling for control of a massive industrial portfolio hoping to capitalize on an expected economic recovery.

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AIG to Return to U.S. Property Investing

April 11, 2012

American International Group is planning to jump back into U.S. property investing, reversing yearslong efforts to downsize its real-estate business in the wake of its near-collapse and government bailout in 2008.

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Europe’s Gentler Debt Deals

April 10, 2012

The commercial mortgage-backed securities market in the U.S. has increasingly resembled a battlefield as delinquencies have mounted and lawsuits, foreclosures and other fights have mushroomed. In Europe, by comparison, some efforts to fix distressed commercial mortgage securities, or CMBS, look refreshingly civilized.

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High Prices, Rent Spark Fuel Feud

April 4, 2012

Gasoline prices have jumped in the past year and in some cities are hovering near record highs, boosting oil company profits. But for some real-estate companies that own gasoline stations, times are tough.

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Rowdy Class of 2007 Is Causing Problems

April 4, 2012

Five-year loans made at the height of the boom in 2007 are coming due this year, and so far the results aren’t pretty.

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