Related Group, a Miami-based property developer led by Jorge Perez, said it has turned over ownership of two of the three towers in the Icon Brickell condominium complex to a group of lenders led by HSBC.
One face-off could cost the backers of a $2.4 billion Macau casino-resort project—including two big-name U.S. investment firms—their shirts.
A court let an American Indian tribe get out of a $50 million bond owed to an investor, saying the deal violated federal Indian casino law, raising questions on the impact on other tribal-casino lenders.
Vornado Realty Trust defaulted on a roughly $18 million mortgage loan on one of San Francisco's historic landmarks, The Cannery at Del Monte Square.
In one of the city's biggest real estate deals since the downturn, SL Green Realty is selling a stake in the trophy McGraw-Hill building on Sixth Avenue for $500 million to raise cash for a Manhattan buying spree.
The star-studded backers of a 14th Street hotel included rapper Jay-Z and hotelier Andre Balazs. But the property has become a legal hot potato as the borrower and lender both tried to give the deed to each other.
With a key deadline looming in bankruptcy court, Goldman Sachs Group is close to a deal to provide $2.2 billion in financing to a group led by Starwood Capital Group in its bid for hotel chain Extended Stay.
Most commercial properties are slumping, but "triple net lease" deals are hot.
A bankruptcy judge approved Brookfield's recapitalization offer for General Growth, causing Simon Property to say it will drop out of the bidding.
Mortgage-bond pioneer Lewis Ranieri and financier Jon Vaccaro are teaming up on a venture aimed at advising lenders and property owners on working out maturing debt.
