Archive for October, 2009

Reassuring Retirees

Erickson Retirement Communities, a senior-housing developer that filed for bankruptcy protection, is scrambling to reassure its 23,000 residents that their hefty entrance-fee deposits aren't in jeopardy.

MGM Mirage to Take Write-Downs

MGM Mirage plans to take more than $1 billion in third-quarter write-downs on its CityCenter project in Las Vegas, while billionaire Kerkorian's investment vehicle is exploring the possibility of partnerships with respect to its MGM investment.

Nets Arena Debt Is No Slam-Dunk

As the legal battle over the Atlantic Yards nears an end, the New Jersey Nets' Brooklyn arena project is gearing up for its next big challenge -- selling the development to a skeptical bond market.

Construction Industry May Rebound in 2010

The nation's construction industry, nearly paralyzed during the downturn, should see modest gains next year.

An Apartment Complex Teeters in New York

A high-profile New York City apartment complex is running out of cash and in danger of imminent default.

Court Weighing Eminent Domain

New York's highest court is set to hear a case that will decide whether the state government can lawfully seize private property for a development company.

Fallout from Deal for Zell’s Empire

Real-estate developer Aby Rosen is joining the long list of investors who have headaches from buying pieces of Sam Zell's $39 billion office building empire.

Marriott Warns of More Challenges

Marriott cautioned that investors who are expecting the recession-battered hotel industry to benefit from an economic recovery might have to wait.

Retail Vacancies Hit Multiyear Highs

Retail-vacancy rates hit a multiyear high in the third quarter, adding to pressure on shopping-mall owners.

Hotel Feud Prompts Grand Jury Probe

A federal grand jury is investigating whether Hilton and former executives should face charges for allegedly stealing documents from Starwood.