Selections from Recent Issues
Please review the following headlines:
Family Shops 3 Hotels in San Francisco Area (03/10/2010)
A family business is offering three boutique hotels in the San Francisco area that have a combined value of about $110 million.
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A family business is offering three boutique hotels in the San Francisco area that have a combined value of about $110 million.
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Phoenix Apartment Sector Starting to Revive (03/03/2010)
Phoenix, one of the nation's most-battered apartment markets, is showing signs of life.
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Phoenix, one of the nation's most-battered apartment markets, is showing signs of life.
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Empire Faces Cash Squeeze on Apartments (02/24/2010)
Ezra Beyman's Empire Assets Group is under pressure from lenders on 14 of its apartment properties.
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Ezra Beyman's Empire Assets Group is under pressure from lenders on 14 of its apartment properties.
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CB Wins Composite Ranking in Dismal Year (02/17/2010)
CB Richard Ellis last year retained its position as the nation's most-active brokerage across the five major property types, but a catastrophic drop in sales activity stole the luster from its crown.
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CB Richard Ellis last year retained its position as the nation's most-active brokerage across the five major property types, but a catastrophic drop in sales activity stole the luster from its crown.
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Warner Shopping Four Seasons Hotel in NY (02/10/2010)
Investor Ty Warner is quietly marketing the trophy Four Seasons hotel in Midtown Manhattan.
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Investor Ty Warner is quietly marketing the trophy Four Seasons hotel in Midtown Manhattan.
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Starwood-FDIC Team Pulls Condo Offering (02/03/2010)
A Starwood Capital-FDIC partnership has dropped its offering of a California condominium project inherited from the failed Corus Bank and will instead finish the complex itself and then seek to sell the units.
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A Starwood Capital-FDIC partnership has dropped its offering of a California condominium project inherited from the failed Corus Bank and will instead finish the complex itself and then seek to sell the units.
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DRA Office Portfolio Facing Cash Squeeze (01/27/2010)
A DRA Advisors fund is at risk of losing 16 office buildings it inherited via the 2005 takeover of CRT Properties.
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A DRA Advisors fund is at risk of losing 16 office buildings it inherited via the 2005 takeover of CRT Properties.
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Distressed Apartments Near Block in Vegas (01/20/2010)
Five distressed senior-housing properties in Las Vegas are headed to market, and four others could be on the way.
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Five distressed senior-housing properties in Las Vegas are headed to market, and four others could be on the way.
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TIAA Fund Markets Trophy Dallas Complex (01/13/2010)
A TIAA-CREF fund is selectively shopping a Dallas office property valued at up to $210 million.
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A TIAA-CREF fund is selectively shopping a Dallas office property valued at up to $210 million.
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3 Brokerages Seek to Bolster NY Operations (01/06/2010)
Colliers Pinkard, Holliday Fenoglio Fowler and Jones Lang LaSalle are each aiming to bulk up their New York investment-sales teams, leading some to speculate that another round of musical chairs may be in the offing for top brokers.
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Colliers Pinkard, Holliday Fenoglio Fowler and Jones Lang LaSalle are each aiming to bulk up their New York investment-sales teams, leading some to speculate that another round of musical chairs may be in the offing for top brokers.
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Lightstone Malls Trading at Sharp Discounts (12/16/2009)
Special servicer J.E. Robert Cos. has struck bargain-basement sales agreements for four Lightstone Group malls in foreclosure proceedings.
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Special servicer J.E. Robert Cos. has struck bargain-basement sales agreements for four Lightstone Group malls in foreclosure proceedings.
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Brokers Pitch Vacant Buildings to End-Users (12/09/2009)
With many opportunistic real estate investors on the sidelines, brokers are increasingly pitching empty or mostly vacant office properties to end-users.
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With many opportunistic real estate investors on the sidelines, brokers are increasingly pitching empty or mostly vacant office properties to end-users.
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Murray Hill Lining Up Partners for Recaps (12/02/2009)
Murray Hill Properties is making headway in its effort to recapitalize an overleveraged Manhattan office building, as it continues to seek a partner for another building in the city.
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Murray Hill Properties is making headway in its effort to recapitalize an overleveraged Manhattan office building, as it continues to seek a partner for another building in the city.
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Hawkeye Prepping 2nd Seed-Capital Fund (11/18/2009)
Hawkeye Partners has begun informally talking to institutional investors about plans for its second seed-capital fund, which could seek to raise more than $1 billion of equity.
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Hawkeye Partners has begun informally talking to institutional investors about plans for its second seed-capital fund, which could seek to raise more than $1 billion of equity.
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'Green' Fund Pulled Despite Goldman Pledge (11/11/2009)
After two years of marketing, Bond Cos. and Abraham Group have pulled the plug on a planned $350 million vehicle targeting "green" real estate opportunities.
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After two years of marketing, Bond Cos. and Abraham Group have pulled the plug on a planned $350 million vehicle targeting "green" real estate opportunities.
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Net-Lease REIT Pursues Institutional Capital (11/04/2009)
Broadstone Real Estate, which initially raised equity from wealthy individuals for a private REIT that invests in triple-net-lease properties, is now reaching out to institutional investors.
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Broadstone Real Estate, which initially raised equity from wealthy individuals for a private REIT that invests in triple-net-lease properties, is now reaching out to institutional investors.
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Placement Agents Shift to Advisory Focus (10/28/2009)
With few funds in a capital-raising mode, placement agents have shifted their focus to advising fund operators and their limited partners on how to navigate the troubled real estate market.
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With few funds in a capital-raising mode, placement agents have shifted their focus to advising fund operators and their limited partners on how to navigate the troubled real estate market.
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Swig Seeks Partner for Squeezed NY Tower (10/21/2009)
Troubled developer Kent Swig is trying to drum up an equity partner for a Lower Manhattan office building that lost its lead tenant last year.
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Troubled developer Kent Swig is trying to drum up an equity partner for a Lower Manhattan office building that lost its lead tenant last year.
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Morgan Stanley Walks Away From Crescent (10/14/2009)
Morgan Stanley is preparing to turn the keys to Crescent Real Estate Equities over to a Barclays syndicate and walk away from its disastrously timed $6.5 billion takeover of the REIT.
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Morgan Stanley is preparing to turn the keys to Crescent Real Estate Equities over to a Barclays syndicate and walk away from its disastrously timed $6.5 billion takeover of the REIT.
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Townsend Clients Join Huge Brookfield Fund (10/07/2009)
Townsend Group, the big real estate consultant, has lined up $500 million of commitments from its long roster of clients for a $5 billion club fund sponsored by Brookfield Asset Management.
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Townsend Group, the big real estate consultant, has lined up $500 million of commitments from its long roster of clients for a $5 billion club fund sponsored by Brookfield Asset Management.
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Kaufman Maps Buying Spree in Manhattan (09/30/2009)
After sitting on the sidelines for several years, Kaufman Organization plans to spend up to $750 million on Manhattan properties over the next two years.
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After sitting on the sidelines for several years, Kaufman Organization plans to spend up to $750 million on Manhattan properties over the next two years.
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GI Allocates $500 Million for Troubled Hotels (09/23/2009)
Buyout specialist GI Partners plans to use up to one-quarter of its new $2 billion fund to acquire distressed hotels and hotel mortgages - its first foray into the sector.
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Buyout specialist GI Partners plans to use up to one-quarter of its new $2 billion fund to acquire distressed hotels and hotel mortgages - its first foray into the sector.
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In Hopeful Sign, Some Funds Edge Into Black (09/16/2009)
More than one-quarter of high-yield funds capitalized by U.S. institutional investors managed to post positive returns in the first quarter, a sign that the sector may be close to hitting bottom.
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More than one-quarter of high-yield funds capitalized by U.S. institutional investors managed to post positive returns in the first quarter, a sign that the sector may be close to hitting bottom.
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Lenders Weigh Options on Dallas Portfolio (08/26/2009)
Lenders GE Real Estate and Transwestern Investment are weighing their options on a portfolio of Dallas-area office properties that is underwater.
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Lenders GE Real Estate and Transwestern Investment are weighing their options on a portfolio of Dallas-area office properties that is underwater.
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HFF Nabs Houston Apartment Team From CB (08/19/2009)
Holliday Fenoglio Fowler has hired away CB Richard Ellis' multi-family investment-sales team in Houston.
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Holliday Fenoglio Fowler has hired away CB Richard Ellis' multi-family investment-sales team in Houston.
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CalSTRS to Step Up Oversight of Holdings (08/12/2009)
California State Teachers plans to take aggressive steps in the coming months to shore up its $13 billion real estate portfolio, whose value has plunged 43% since last summer.
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California State Teachers plans to take aggressive steps in the coming months to shore up its $13 billion real estate portfolio, whose value has plunged 43% since last summer.
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Citigroup Taps 3 Brokerages for Foreclosures (08/05/2009)
Citigroup, one of the nation's biggest commercial real estate lenders, has selected three brokerages to oversee the sale of distressed properties.
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Citigroup, one of the nation's biggest commercial real estate lenders, has selected three brokerages to oversee the sale of distressed properties.
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Charney Group Faces Squeeze on NY Offices (07/29/2009)
The owner of a heavily leveraged office building at 119 West 40th Street in Midtown Manhattan is facing a cash squeeze that could put the property in play.
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The owner of a heavily leveraged office building at 119 West 40th Street in Midtown Manhattan is facing a cash squeeze that could put the property in play.
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SL Green Sells Mezz Loan at 33% Discount (07/22/2009)
A syndicate organized by Deutsche Bank has bought a $95 million mezzanine loan on a Midtown Manhattan office condominium from SL Green at a discount of about 33%, in the latest sign of how far values have dropped even for core properties.
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A syndicate organized by Deutsche Bank has bought a $95 million mezzanine loan on a Midtown Manhattan office condominium from SL Green at a discount of about 33%, in the latest sign of how far values have dropped even for core properties.
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Sterling Lays Off 24, Shelves Planned Fund (07/15/2009)
Sterling Equities has dismissed two dozen employees after dramatically lowering projections for its acquisition activity over the next couple of years.
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Sterling Equities has dismissed two dozen employees after dramatically lowering projections for its acquisition activity over the next couple of years.
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Mezz Lenders Taking Over Cabi Portfolio (07/08/2009)
The senior lenders on a heavily overleveraged California office portfolio have agreed to let four investors convert their mezzanine debt into equity as part of a restructuring that will significantly dilute the $100 million investment of a Calpers-Hines joint venture.
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The senior lenders on a heavily overleveraged California office portfolio have agreed to let four investors convert their mezzanine debt into equity as part of a restructuring that will significantly dilute the $100 million investment of a Calpers-Hines joint venture.
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UBS Puts Out Feelers on Stake in NY Tower (07/01/2009)
UBS is quietly gauging interest in the 50% stake it owns in its Midtown Manhattan headquarters.
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UBS is quietly gauging interest in the 50% stake it owns in its Midtown Manhattan headquarters.
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Murray Hill, in Shift, Plans Solo Purchases (06/24/2009)
Murray Hill Properties plans to shift tactics for its next fund to better position itself to exploit growing distress among Manhattan office owners.
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Murray Hill Properties plans to shift tactics for its next fund to better position itself to exploit growing distress among Manhattan office owners.
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Walsh in Line to Take Over Lehman Funds (06/17/2009)
Mark Walsh is leading a team of Lehman Brothers executives who are close to taking over management of the bankrupt company's property funds, a move that would mark the return of one of Wall Street's biggest real estate dealmakers.
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Mark Walsh is leading a team of Lehman Brothers executives who are close to taking over management of the bankrupt company's property funds, a move that would mark the return of one of Wall Street's biggest real estate dealmakers.
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10 Luxury Canadian, US Hotels Hit Market (06/10/2009)
A division of Caisse de Depot et Placement du Quebec is offering a stake in a portfolio of Fairmont hotels in the U.S. and Canada that is valued at about $2 billion.
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A division of Caisse de Depot et Placement du Quebec is offering a stake in a portfolio of Fairmont hotels in the U.S. and Canada that is valued at about $2 billion.
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Apartment Portfolio Seen as Under Pressure (06/03/2009)
A heavily leveraged mortgage on a 2,990-unit apartment portfolio has been transferred to special servicing, raising questions about whether the owner will be forced to sell or recapitalize the complexes.
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A heavily leveraged mortgage on a 2,990-unit apartment portfolio has been transferred to special servicing, raising questions about whether the owner will be forced to sell or recapitalize the complexes.
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RREEF Mulls Options for Squeezed Projects (05/27/2009)
A RREEF fund is looking to recapitalize at least one troubled project in a bid to salvage its deteriorating development portfolio.
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A RREEF fund is looking to recapitalize at least one troubled project in a bid to salvage its deteriorating development portfolio.
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Cash Hoard at Calpers Could Stem Fire Sales (05/20/2009)
Calpers, whose investments in residential land have gotten clobbered, has built up a sizable nest egg that should spare it from having to dump those holdings at fire-sale prices.
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Calpers, whose investments in residential land have gotten clobbered, has built up a sizable nest egg that should spare it from having to dump those holdings at fire-sale prices.
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Brokerage Consolidation Coming, But How? (05/13/2009)
There's widespread agreement that the sharp market downturn will cause significant consolidation in the brokerage arena, but the absence of natural merger partners may slow the process.
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There's widespread agreement that the sharp market downturn will cause significant consolidation in the brokerage arena, but the absence of natural merger partners may slow the process.
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Harsh Reality Sets In for Some Fund Shops (05/06/2009)
Fund operators are increasingly looking at this year as a wipeout for raising equity.
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Fund operators are increasingly looking at this year as a wipeout for raising equity.
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Lowe Shelves 2 Funds, Delays Close of Third (04/29/2009)
Lowe Enterprises Investment is the latest big-name fund operator to be sidelined by the hostile climate for soliciting equity.
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Lowe Enterprises Investment is the latest big-name fund operator to be sidelined by the hostile climate for soliciting equity.
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Beacon Writedowns Show Depth of Slump (04/22/2009)
Markdowns by two Beacon Capital Partners funds may provide the best indication to date of how far Class-A office values have fallen.
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Markdowns by two Beacon Capital Partners funds may provide the best indication to date of how far Class-A office values have fallen.
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Pension-System Pledges Drop to 4-Year Low (04/15/2009)
The nation's largest public pension systems significantly pulled back on equity commitments to real estate investments last year.
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The nation's largest public pension systems significantly pulled back on equity commitments to real estate investments last year.
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Core Funds, Accounts Slipped in 4th Quarter (04/08/2009)
Even though they invest conservatively, core funds and separate accounts are also taking their lumps in the market meltdown.
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Even though they invest conservatively, core funds and separate accounts are also taking their lumps in the market meltdown.
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Property Sales Plunged 85% in First Quarter (04/01/2009)
The pace of commercial-property sales in the first quarter was every bit as dismal as it seemed.
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The pace of commercial-property sales in the first quarter was every bit as dismal as it seemed.
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Goldman Team Quietly Shops 417 Fifth Ave. (03/25/2009)
In what could be the first of a wave of offerings by squeezed office owners, a Goldman Sachs partnership is selectively shopping the building at 417 Fifth Avenue in Midtown Manhattan.
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In what could be the first of a wave of offerings by squeezed office owners, a Goldman Sachs partnership is selectively shopping the building at 417 Fifth Avenue in Midtown Manhattan.
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Downturn Puts Squeeze on Fund Operators (03/18/2009)
After years of strong performance, the real estate fund industry is taking some lumps.
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After years of strong performance, the real estate fund industry is taking some lumps.
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Market Turmoil Taking a Toll on High-Yield Funds (03/18/2009)
Cracks are starting to show in the real estate fund juggernaut.
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Cracks are starting to show in the real estate fund juggernaut.
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With Few Backers, CB Shelves Europe Fund (03/11/2009)
CB Richard Ellis Investors has suspended the marketing campaign for its latest European fund after failing to attract enough capital for a first equity close.
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CB Richard Ellis Investors has suspended the marketing campaign for its latest European fund after failing to attract enough capital for a first equity close.
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Morgan Stanley Falling Short of Equity Goal (03/04/2009)
Morgan Stanley will miss its $10 billion fund-raising goal by a wide margin when it wraps up marketing for its latest global real estate vehicle.
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Morgan Stanley will miss its $10 billion fund-raising goal by a wide margin when it wraps up marketing for its latest global real estate vehicle.
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Principal Fund Mulls Offerings to Raise Cash (02/25/2009)
Principal Global is exploring the possibility of selling properties in order to honor redemption requests from investors in its open-end fund.
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Principal Global is exploring the possibility of selling properties in order to honor redemption requests from investors in its open-end fund.
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Gloomy Outlook Dims CB Ranking Victory (02/18/2009)
CB Richard Ellis dethroned Eastdil Secured last year as the nation's most active brokerage across the five major property types, but the victory came amid plunging sales activity and an increasingly gloomy outlook for 2009.
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CB Richard Ellis dethroned Eastdil Secured last year as the nation's most active brokerage across the five major property types, but the victory came amid plunging sales activity and an increasingly gloomy outlook for 2009.
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Mezz Lenders Angle to List Hancock Tower (02/11/2009)
It looks like John Hancock Tower in Boston is headed to market.
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It looks like John Hancock Tower in Boston is headed to market.
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Retail Properties Leading Race to Bottom (02/04/2009)
After watching the sales of large shopping centers and malls plunge last year, retail specialists can take solace only from the fact that their sector seems likely to hit bottom before other segments of the commercial real estate market.
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After watching the sales of large shopping centers and malls plunge last year, retail specialists can take solace only from the fact that their sector seems likely to hit bottom before other segments of the commercial real estate market.
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Silver Linings Scarce in Office-Sales Market (01/28/2009)
Coming off a year that saw a sharp drop in office-property sales, market pros expect activity to decline further in 2009, with transactions mostly involving buildings with assumable financing, forced sales or recapitalizations of overleveraged properties.
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Coming off a year that saw a sharp drop in office-property sales, market pros expect activity to decline further in 2009, with transactions mostly involving buildings with assumable financing, forced sales or recapitalizations of overleveraged properties.
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ING Fund Sells 3 Offices at Sharp Discount (01/14/2009)
An ING Clarion Partners fund has sold three underperforming office buildings for 45% less than it paid - reflecting how the market downturn is punishing sellers.
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An ING Clarion Partners fund has sold three underperforming office buildings for 45% less than it paid - reflecting how the market downturn is punishing sellers.
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ProLogis Weighs Giant Sale of Warehouses (12/17/2008)
Cash-strapped ProLogis is setting the stage to offer up to one-quarter of its giant portfolio of distribution centers in order to reduce its debt load.
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Cash-strapped ProLogis is setting the stage to offer up to one-quarter of its giant portfolio of distribution centers in order to reduce its debt load.
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CB's Contract as FDIC Advisor Not Exclusive (12/10/2008)
CB Richard Ellis disheartened its rivals two weeks ago by announcing it had landed a contract to market foreclosed properties for the FDIC, but now the agency has clarified that the arrangement is nonexclusive.
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CB Richard Ellis disheartened its rivals two weeks ago by announcing it had landed a contract to market foreclosed properties for the FDIC, but now the agency has clarified that the arrangement is nonexclusive.
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Property Funds Hammered by 1-Year Losses (12/03/2008)
Several high-yield property funds launched by well-known operators in 2006 or 2007 posted poor 1-year net returns through midyear, and the list of weak performers is expected to swell as the fallout continues from the financial meltdown.
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Several high-yield property funds launched by well-known operators in 2006 or 2007 posted poor 1-year net returns through midyear, and the list of weak performers is expected to swell as the fallout continues from the financial meltdown.
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CB, Grubb Shift Sights to Distressed Assets (11/19/2008)
CB Richard Ellis and Grubb & Ellis have joined the ranks of big brokerages making organizational changes to chase after an expected flood of work dealing with distressed assets.
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CB Richard Ellis and Grubb & Ellis have joined the ranks of big brokerages making organizational changes to chase after an expected flood of work dealing with distressed assets.
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Cousins Abandons Bid for Houston Complex (11/12/2008)
Cousins Properties has backed out of talks to pay about $700 million for Greenway Plaza in Houston, in yet another example of a transaction derailed by the credit squeeze.
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Cousins Properties has backed out of talks to pay about $700 million for Greenway Plaza in Houston, in yet another example of a transaction derailed by the credit squeeze.
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Crisis Forces Pensions to Curb Investments . . . (11/05/2008)
The financial crisis has significantly reduced the asset sizes of public pension systems, forcing many to curb or scrap real estate commitments for the foreseeable future.
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The financial crisis has significantly reduced the asset sizes of public pension systems, forcing many to curb or scrap real estate commitments for the foreseeable future.
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Brokerage Cutbacks Seen Likely to Increase (10/29/2008)
The steady stream of property-broker cutbacks is likely to continue, and even speed up, in coming months.
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The steady stream of property-broker cutbacks is likely to continue, and even speed up, in coming months.
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GE Shops 80% Stake in Industrial Portfolio (10/22/2008)
GE Real Estate is looking for a joint-venture partner to commit up to $220 million of equity for a majority stake in an industrial portfolio.
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GE Real Estate is looking for a joint-venture partner to commit up to $220 million of equity for a majority stake in an industrial portfolio.
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CBRE Investors Pulls Out of Houston Deal (10/15/2008)
CB Richard Ellis Investors has walked away from a deal to pay roughly $243 million for the Post Oak Central office complex in Houston's Galleria district.
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CB Richard Ellis Investors has walked away from a deal to pay roughly $243 million for the Post Oak Central office complex in Houston's Galleria district.
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Cabi Misses Loan Payment, Seeks Extension (10/08/2008)
Cabi Developers has missed a big principal payment on a $1.3 billion debt package backed by a Southern California office portfolio and is negotiating with its lenders about a possible workout.
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Cabi Developers has missed a big principal payment on a $1.3 billion debt package backed by a Southern California office portfolio and is negotiating with its lenders about a possible workout.
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Crisis Slows Commitments to Property Funds (10/01/2008)
The financial mess is making it harder for operators of high-yield U.S. property funds to solicit investors, causing some sponsors to fall shy of their equity goals.
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The financial mess is making it harder for operators of high-yield U.S. property funds to solicit investors, causing some sponsors to fall shy of their equity goals.
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Distressed Funds Weigh Impact of Bailout (09/24/2008)
Operators of funds that target distressed assets find themselves facing a formidable new competitor for investments: the U.S. government.
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Operators of funds that target distressed assets find themselves facing a formidable new competitor for investments: the U.S. government.
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Wall Street's Woes Rattle Property Owners (09/17/2008)
The seemingly endless cascade of dire financial news over the weekend, capped by the bankruptcy filing of Lehman Brothers, signals that real estate prices could still fall significantly further.
Read more.
The seemingly endless cascade of dire financial news over the weekend, capped by the bankruptcy filing of Lehman Brothers, signals that real estate prices could still fall significantly further.
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Broadway Agrees to Sale, Swap in LA Area (09/10/2008)
Continuing an effort to reduce its heavy debt load, Broadway Partners has agreed to sell one Los Angeles office building to Jamison Partners and to swap its interest in another for Blackstone Group's stake in a third property.
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Continuing an effort to reduce its heavy debt load, Broadway Partners has agreed to sell one Los Angeles office building to Jamison Partners and to swap its interest in another for Blackstone Group's stake in a third property.
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Pension Commitments Fell 29% in First Half (08/20/2008)
Real estate commitments by public pension funds slowed in the first half because of shrinking asset bases and a reduction in the turnover of investments.
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Real estate commitments by public pension funds slowed in the first half because of shrinking asset bases and a reduction in the turnover of investments.
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CB Takes Big Lead in Overall Broker Ranking (08/13/2008)
CB Richard Ellis was by far the most-active broker of the five major types of properties during the first half, in what is shaping up as the slowest year for sales since 2003.
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CB Richard Ellis was by far the most-active broker of the five major types of properties during the first half, in what is shaping up as the slowest year for sales since 2003.
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Multi-Family Sales Dive 44%; CB Top Broker (08/06/2008)
CB Richard Ellis edged out Apartment Realty Advisors in the ranking of multi-family brokers for the first half of the year, as sales in the sector plummeted by 44%.
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CB Richard Ellis edged out Apartment Realty Advisors in the ranking of multi-family brokers for the first half of the year, as sales in the sector plummeted by 44%.
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Sales of Retail Centers Off; No Rebound Seen (07/30/2008)
Sales of large retail properties plunged by 64% in the first half as the credit crunch and a sagging economy drove buyers to the sidelines.
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Sales of large retail properties plunged by 64% in the first half as the credit crunch and a sagging economy drove buyers to the sidelines.
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Office-Property Sales Plunge 72% in 1st Half (07/23/2008)
The volume of office-property sales plunged 72% in the first half from the same period in 2007, making it a near-certainty that this year's market will be the slowest since 2004.
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The volume of office-property sales plunged 72% in the first half from the same period in 2007, making it a near-certainty that this year's market will be the slowest since 2004.
Read more.
Manulife to Buy Mellon Bank Center in LA (07/16/2008)
Manulife Financial has signed a letter of intent to buy Mellon Bank Center in Los Angeles from funds operated by BlackRock Realty Advisors and Tishman Speyer for about $308 million.
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Manulife Financial has signed a letter of intent to buy Mellon Bank Center in Los Angeles from funds operated by BlackRock Realty Advisors and Tishman Speyer for about $308 million.
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Nippon Mulls Sale of Stake in SF Complex (07/09/2008)
Nippon Life Insurance is weighing whether to sell its roughly 49% interest in an office and retail complex in San Francisco's Financial District.
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Nippon Life Insurance is weighing whether to sell its roughly 49% interest in an office and retail complex in San Francisco's Financial District.
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Carlton, Pru Target High-Yield Mortgages (07/02/2008)
Carlton Group and Prudential Real Estate Investors have pledged $400 million of equity for a joint venture that will make high-yield-debt investments - the latest in a string of vehicles formed to capitalize on illiquid debt markets.
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Carlton Group and Prudential Real Estate Investors have pledged $400 million of equity for a joint venture that will make high-yield-debt investments - the latest in a string of vehicles formed to capitalize on illiquid debt markets.
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Retail Space at Time Warner Center on Block (06/25/2008)
In an offering that could attract bids of about $400 million, a Calpers joint venture is marketing its 49% stake in the upscale retail space and garage at Time Warner Center in Manhattan.
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In an offering that could attract bids of about $400 million, a Calpers joint venture is marketing its 49% stake in the upscale retail space and garage at Time Warner Center in Manhattan.
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Eastdil Seen Cutting Staff by 10% as Sales Lag (06/18/2008)
Eastdil Secured plans to trim its staff by about 10% in response to a sharp reduction in brokerage activity.
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Eastdil Secured plans to trim its staff by about 10% in response to a sharp reduction in brokerage activity.
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Colony Team Lists Boston's Copley Plaza (06/11/2008)
A Colony Capital partnership is taking another shot at selling the 383-room Fairmont Copley Plaza in Boston.
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A Colony Capital partnership is taking another shot at selling the 383-room Fairmont Copley Plaza in Boston.
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22 Government-Leased Offices Up for Grabs (06/04/2008)
A portfolio of office buildings occupied by the federal government has hit the market, with bids expected to top $600 million.
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A portfolio of office buildings occupied by the federal government has hit the market, with bids expected to top $600 million.
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Carr Strikes Deal for Adjacent Offices in DC (05/28/2008)
Carr Properties has won the bidding for the neighboring office buildings at 800 K Street NW and 801 Eye Street NW in Washington.
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Carr Properties has won the bidding for the neighboring office buildings at 800 K Street NW and 801 Eye Street NW in Washington.
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Hendricks Maps Big Expansion on East Coast (05/21/2008)
Multi-family brokerage Hendricks & Partners, which has traditionally focused on California, the Southwest and Midwest, plans to make a major push into the East Coast.
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Multi-family brokerage Hendricks & Partners, which has traditionally focused on California, the Southwest and Midwest, plans to make a major push into the East Coast.
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One Glendale Building Listed, Another Pulled (05/14/2008)
An ING Clarion Partners fund is selectively shopping an office building in the Los Angeles suburb of Glendale, even as another property on the same street got pulled from the market because of lackluster bids.
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An ING Clarion Partners fund is selectively shopping an office building in the Los Angeles suburb of Glendale, even as another property on the same street got pulled from the market because of lackluster bids.
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Goldman to Raise $2.5 Billion for Debt Fund (05/07/2008)
Becoming the latest player seeking to capitalize on illiquidity in the credit markets, Goldman Sachs is planning to raise $2.5 billion of equity for a high-yield-debt fund.
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Becoming the latest player seeking to capitalize on illiquidity in the credit markets, Goldman Sachs is planning to raise $2.5 billion of equity for a high-yield-debt fund.
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Government-Leased Office Portfolios Listed (04/30/2008)
An investment vehicle seeking to reduce its debt load is shopping two office portfolios, valued at up to $700 million, that are almost fully leased to the federal government.
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An investment vehicle seeking to reduce its debt load is shopping two office portfolios, valued at up to $700 million, that are almost fully leased to the federal government.
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REIT Pulls $1 Billion of Rentals, Lists Others (04/23/2008)
AIMCO, which put $2 billion-plus of apartment properties up for sale earlier this year, has found buyers for close to $1 billion of the complexes, but has pulled most of the remaining listings after getting disappointing bids.
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AIMCO, which put $2 billion-plus of apartment properties up for sale earlier this year, has found buyers for close to $1 billion of the complexes, but has pulled most of the remaining listings after getting disappointing bids.
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Pension Systems Made Record Pledges in '07 (04/16/2008)
Despite the credit crunch, public pension systems set another record last year for equity commitments to commercial real estate vehicles.
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Despite the credit crunch, public pension systems set another record last year for equity commitments to commercial real estate vehicles.
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International, Global Funds Levy Higher Fees (04/09/2008)
International and global funds tend to charge higher fees than vehicles that invest solely in the U.S., a review by Real Estate Alert found.
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International and global funds tend to charge higher fees than vehicles that invest solely in the U.S., a review by Real Estate Alert found.
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JP Morgan Team Markets DC Office Complex (04/02/2008)
A J.P. Morgan Investment Management partnership is marketing a fully occupied Washington office complex valued at more than $300 million.
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A J.P. Morgan Investment Management partnership is marketing a fully occupied Washington office complex valued at more than $300 million.
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Tishman Shops Mellon Bank Center in LA (03/26/2008)
A Tishman Speyer fund is marketing a Los Angeles office tower with assumable financing that should appeal to core and core-plus players.
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A Tishman Speyer fund is marketing a Los Angeles office tower with assumable financing that should appeal to core and core-plus players.
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Credit Crunch Doesn't Slow Growth of Funds (03/19/2008)
While the credit crunch is forcing changes in marketing and investment strategies, it is showing no sign of slowing the rapid growth of high-yield real estate funds.
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While the credit crunch is forcing changes in marketing and investment strategies, it is showing no sign of slowing the rapid growth of high-yield real estate funds.
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Barrack Amassing Cash for Bottom Fishing (03/12/2008)
Veteran investor Thomas Barrack, who made a fortune in the early 1990s by scooping up distressed assets at fire-sale prices, is getting ready to call the bottom of the current downturn.
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Veteran investor Thomas Barrack, who made a fortune in the early 1990s by scooping up distressed assets at fire-sale prices, is getting ready to call the bottom of the current downturn.
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Sale of Dallas Trophy in Doubt as Bid Is Cut (03/05/2008)
Cannon Commercial, which was the high bidder for Galleria Towers in Dallas, has reduced its offer - a move that could scuttle the deal.
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Cannon Commercial, which was the high bidder for Galleria Towers in Dallas, has reduced its offer - a move that could scuttle the deal.
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Cabi May Shop Part of Arden Office Portfolio (02/27/2008)
Cabi Developers may soon look to sell part of a Southern California office portfolio that it bought last year at the top of the market from GE Real Estate's Arden Realty.
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Cabi Developers may soon look to sell part of a Southern California office portfolio that it bought last year at the top of the market from GE Real Estate's Arden Realty.
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Eastdil Easily Wins Overall Broker Ranking (02/20/2008)
Fueled by its dominating performance in the office sector, Eastdil Secured last year easily defended its title as the nation's most-active brokerage across the five major property types.
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Fueled by its dominating performance in the office sector, Eastdil Secured last year easily defended its title as the nation's most-active brokerage across the five major property types.
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CB Wins Apartment Ranking as Sales Decline (02/13/2008)
CB Richard Ellis retained its crown last year as the most-active broker of multi-family properties, as sales in the sector fell from the stratospheric levels of 2005 and 2006.
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CB Richard Ellis retained its crown last year as the most-active broker of multi-family properties, as sales in the sector fell from the stratospheric levels of 2005 and 2006.
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CB, Eastdil Lead Way as Retail Record Is Set (02/06/2008)
CB Richard Ellis dethroned Eastdil Secured as the top broker of shopping centers last year as sales volume shattered the previous record, despite the impact of the credit crunch.
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CB Richard Ellis dethroned Eastdil Secured as the top broker of shopping centers last year as sales volume shattered the previous record, despite the impact of the credit crunch.
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Eastdil Dominated as Office Sales Hit Peak (01/30/2008)
Eastdil Secured was by far the most-active broker of large office properties last year, when giant portfolio offerings and subsequent flips fueled the biggest sales volume in commercial real estate history.
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Eastdil Secured was by far the most-active broker of large office properties last year, when giant portfolio offerings and subsequent flips fueled the biggest sales volume in commercial real estate history.
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BofA Wins M&A Ranking in Blowout Year (01/23/2008)
Bank of America beat out defending champ Morgan Stanley for the title of most-active advisor on U.S. real estate mergers and acquisitions last year as volume shattered records, according to Real Estate Alert's 12th annual survey.
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Bank of America beat out defending champ Morgan Stanley for the title of most-active advisor on U.S. real estate mergers and acquisitions last year as volume shattered records, according to Real Estate Alert's 12th annual survey.
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Macklowe Taps CB as Advisor on GM Building (01/16/2008)
Faced with an urgent need to raise capital in order to pay off maturing debt, developer Harry Macklowe has retained CB Richard Ellis to advise him on the possible sale or recapitalization of the GM Building in Midtown Manhattan.
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Faced with an urgent need to raise capital in order to pay off maturing debt, developer Harry Macklowe has retained CB Richard Ellis to advise him on the possible sale or recapitalization of the GM Building in Midtown Manhattan.
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Blackstone Tees Up Suburban Boston Offices (01/09/2008)
Blackstone Group is preparing to shop some of the suburban Boston office buildings it assumed last February via its $39 billion takeover of Equity Office Properties.
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Blackstone Group is preparing to shop some of the suburban Boston office buildings it assumed last February via its $39 billion takeover of Equity Office Properties.
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