Vornado’s CEO Faces Tough Market
Michael Fascitelli is being promoted to CEO of Vornado Realty Trust during one of the toughest commercial-real-estate markets since World War II.
Month: May, 2009
Recession Turns Malls Into Ghost Towns
Traditional shopping malls are dwindling in number, with many struggling properties reduced to largely vacant shells.
Hope for Commercial Property Takes Hit
The S&P's warning that billions in top-rated bonds backed by commercial mortgages may face downgrades doused enthusiasm in the commercial-property market.
Glimcher Shops Its Malls
Glimcher Realty Trust, which owns 23 U.S. malls and carries $1.6 billion in debt, is selling its stakes in some of the best properties in its portfolio.
Foreign Cash Boosts Hong Kong Assets
Money is flooding into Hong Kong, propelling property and stock prices even as the economy falters.
HAPPY MEMORIAL DAY!
A Big “Thank You” goes out to all of our veterans from everyone here at The FlipBoard.com. We will never forget you.
MGM Mirage Gambles on Hotels in Mideast, Asia
MGM Mirage signed deals to brand and manage Bellagio and MGM Grand hotels in Asia and the Mideast.
Phoenix Mall Stalls
Related is struggling to find financing for the $570 million second phase of its CityNorth project in Phoenix after Nordstrom tabled plans for a store there.
Local Banks Face Big Losses
Commercial real-estate loans could generate losses of $100 billion by the end of next year at over 900 small and midsize U.S. banks if economic woes deepen, according to a Wall Street Journal analysis.
Silverstein, Officials Talk Trade Center
Developer Larry Silverstein appears to have the upper hand in yet another round of negotiations with officials on the redevelopment of the World Trade Center site.
