One Economic Hiccup, And These Small Banks Are in Trouble
Hundreds of community banks are in danger of falling short of stricter capital requirements, if the economy once again stalls, according to a new report.And there’s a bigger problem: many of these...
View ArticleRare Debt Deal in Detroit
Even Detroit’s commercial real-estate market is feeling the love from Wall Street’s debt rally.Take One Kennedy Square, a 10-story office property built in 2006 on the site of Detroit’s old city hall....
View ArticleCommercial loan delinquency hits three-year low
Banks keep sweeping bad loans on local commercial properties off their books, paring the delinquency rate on such debt to its lowest level in three years.The delinquency rate for Chicago-area...
View ArticleSmall-Town Maul
New York investor David Lichtenstein’s bet on four small-town malls didn’t pan out, leading him to forfeit the properties to his mortgage holders in 2009. It now appears the deal also was a big loser...
View ArticleIndustry Downplays Fears of Multifamily Housing Bubble
Construction of new apartment units is climbing at a rapid clip. Nationwide prices for multifamily housing are rising back toward their pre-crisis peaks. Meanwhile, the market is getting a boost from...
View ArticleWest Coast’s Tallest Tower at Risk of Loan Default, Fitch Says
The U.S. Bank Tower in Los Angeles is running into trouble with its debt.The $260 million mortgage on the 73-story building, the tallest on the U.S. West Coast, is in danger of an imminent default,...
View Article‘Hope Note’ Strategy Is at Times Hopeless
Splitting Mortgages Into A and B Parts Can Sting InvestorsBy Al YoonA controversial method to work out defaulted commercial real-estate loans isn’t always working out for the bond investors...
View ArticleRisk Seen in Some Mortgage Bonds
By AL YOONAfter a surge in bonds backed by mortgages on commercial properties, some investors are finding cracks in the foundations.Investors piled into these bonds, which are made up of pools of loans...
View ArticleCMBS Delinquency Rate Held Steady in December: Report
By Brian BrowdieBorrowers whose loans back commercial mortgage securities are continuing to repay more of their loans on time.Real estate loans that make up commercial mortgage-backed securities that...
View ArticleInvestors Strip Malls Off Shopping Lists
By KRIS HUDSON And AL YOONWhen mall company Macerich Co. MAC -0.41% walked away from the aging Valley View Center mall in Dallas, investors holding securities tied to the $125 million mortgage were...
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Trepp: CMBS delinquency rates drop to lowest level in 11 months
The delinquency rate for U.S. commercial mortgage-backed securities loans fell 14 basis points in January to 9.57%, the lowest level in 11 months, according to Trepp’s U.S. CMBS delinquency report.This...
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Obama Exit Hurts Chicago Office Tower
By AL YOONPresident Barack Obama’s former landlord is facing a fiscal cliff.With the election over, the president’s campaign committee last month closed down its headquarters and gave up the lease on...
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Delinquencies on bank loans to landlords lowest since 2009
By Micah MaidenbergBanks continue to sell off bad debt on local commercial properties, pushing the delinquency rate on such loans below 6 percent for the first time in more than three years.The...
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Borrowers counting on DiCola to have all the answers
By Orlando Lee RodriguezFor Annemarie DiCola, the Pelham Parkway-Fordham Road joint thoroughfare has been a boulevard of dreams.If you drive west down the iconic Bronx two-named avenue, there are...
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In Stamford, Gambling on an Office Complex Makeover
By JULIE SATOWThe New York-based firm George Comfort & Sons, perhaps best known as the landlord of the Worldwide Plaza complex in Midtown, is making a big bet on Stamford, Conn.George Comfort,...
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Women’s Forum hears next chapter in lending story
By Linda OFlanaganLending expert Annemarie DiCola painted a bright future for the city’s capital markets during a keynote speech at the annual Real Estate Weekly Women’s forum this morning...
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China Bank Securitizing U.S. Loans
By LINGLING WEI And AL YOONAdd one more item to the list of products “made in China”: debt backed by commercial mortgages.Bank of China Ltd. is already one of the largest foreign lenders to commercial...
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Stepping Into the Yards
For months, Jeff Blau, chief executive of development giant Related Cos., talked to banks about financing Related’s planned 895-foot office tower on Manhattan’s West Side. But a deal was elusive. So...
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Wall St. Redux: Arcane Names Hiding Big Risk
By NATHANIEL POPPER The banks that created risky amalgams of mortgages and loans during the boom — the kind that went so wrong during the bust — are busily reviving the same types of investments that...
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