California Investment Firm Pays Second-highest Price of Past Year To Buy Former Ritz-Carlton Hotel in Phoenix
Host Hotels & Resorts Sells 277-Room Camby Hotel in Central Phoenix for $110 Million A California-based investment company paid one of the highest prices of the last year for a hotel in Phoenix, buying a former Ritz-Carlton that Marriott International reopened a few years ago as The Camby Hotel. KHP Capital Partners, based in San […]
Salesforce Seeks To Offload Large Block of Office Space in New Chicago Tower
Software Firm Expected To Make Up to 125,000 Square Feet Available for Sublease in 60-Story Building Salesforce is expected to offload as much as 125,000 square feet of office space in its 60-story namesake skyscraper in Chicago, about two months before the company is set to move into the nearly completed trophy tower. San Francisco-based […]
San Diego Broker Pleads Guilty for Role in City’s Purchase of Office Tower It Couldn’t Occupy
A San Diego commercial broker has pleaded guilty to a state misdemeanor conflict-of-interest charge stemming from his role in advising the city on its purchase of a downtown office tower it was unable to occupy because of asbestos issues. Jason Hughes agreed to pay the city $9.4 million and a $400 fine to the state of California […]
Downtown in Distress: Los Angeles Signals Why Nation’s Office Space Headaches Could Last for Years
Three Years After Pandemic’s Start, Some LA Towers Face Foreclosure Keeping a major tenant came at a cost for a high-profile office owner in downtown Los Angeles. Brookfield DTLA Fund Office Trust Investor knew in 2018 that the lease held by a tenant, the law firm Orrick, in its 777 Figueroa St. tower was expiring […]
Facebook Parent Extends Cost Cuts by Looking To Shed Chicago Office Space
Facebook Parent Extends Cost Cuts by Looking To Shed Chicago Office Space Meta Move Follows Announced 10,000 New Layoffs Globally Meta is looking to shed about 115,000 square feet in its Chicago office, expanding the Facebook parent’s efforts to slash expensive real estate after announcing plans for 10,000 new global layoffs. The company is seeking to […]
Starwood To Wind Down European Lending Vehicle
Decision Came After Larger Shareholders Indicated They Wanted Money Back Starwood Capital is winding down its listed European lending vehicle after larger shareholders indicated they would pull out. The private equity firm based in the United States said the investment style has grown less popular despite Starwood European Real Estate Finance being a success. The […]
UBS’s Emergency Takeover of Credit Suisse Creates Real Estate Giant and a Host of Questions
The Combined Group Has a Massive Global Real Estate Business and Employs Tens of Thousands of Staff in Major Buildings UBS’s emergency takeover of fellow Swiss banking giant Credit Suisse over the weekend has created one of the world’s largest commercial real estate lenders and asset managers, and a series of immediate questions about the […]
Small bank struggles could hit the real estate market hard
Small bank struggles could hit the real estate market hard A pullback in lending among small banks in the U.S. was already underway before the collapse of Silicon Valley Bank and Signature Bank. Now economists expect to see more tightening. Why it matters: Stricter lending standards among smaller banks is likely to slow economic growth […]
Private Money Real Estate Loans: An Overview & Good Reasons
Can You Collateralize Your Loanto Borrow money? 1) The term “collateralize” means to pledge something of value as security for loan repayments and be willing to forfeit the asset ownership in the event of default. With a borrower’s pledge, the lender may or may not keep possession of the collateral. The lender may sell or dispose of […]
