Distressed Asset Investments

  • NGKF Gets $20M Refi for Iron Horse Hotel

    MILWAUKEE—Although the boutique hotel is outside the CBD, it has become a destination for locals and business travelers.

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  • SD Late-Pay List Sports Several Offices

    SAN DIEGO—Trepp LLC’s research analyst Sean Barrie tells GlobeSt.com the majority of CRE properties on the 90-day-plus delinquency list are from the office sector, which is unusual for most markets historically.

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  • More Than Half of Resetting HELOCS Are Underwater

    IRVINE, CA—According to a new report from RealtyTRAC, the estimated balance of resetting HELOCs is at $158 billion, with $88 billion on underwater homes. California, Florida, Illinois are expected to have the most resets.

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  • Triangle Equities Closes on $7.5 Million Loan for 62,000-Square-Foot Shopping Center

    FREEHOLD, NJ–Triangle Equities has closed on a $7.5 million loan with CIBC (Canadian Imperial Bank of Commerce) for its 62,000-square-foot retail property, Freehold Raceway Village, in Freehold, NJ. This follows a successful recapitalization of the shopping center in which Triangle took on $5.5 million in debt from the previously existing owner.

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  • Drops in Joblessness, CMBS Late-Pays Align

    NEW YORK CITY—“We expect CMBS delinquency to be in the 5.6% to 6.1% range by the end of 2015,” roughly in line with the unemployment rate, Standard & Poor’s says.

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  • Hedge Fund Okayed as Lead RadioShack Bidder

    WILMINGTON, DE—Separately from offering to buy 1,700 or more stores, Standard General is also bidding on rights to the RadioShack brand name.

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  • Chicago Industrial Sales Activity Increasing

    CHICAGO—The search for high quality industrial space is competitive because vacancy rates are the lowest they have been since 2009.

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  • Colliers Brokers $5.8M Office Building Sales In Lebanon NJ

    LEBANON, NJ—Colliers International has arranged the $5.8 million sale of two class-A office buildings at 100 Corporate Drive and 200 Corporate Drive, located at 78 Corporate Center in Lebanon, New Jersey. Colliers executive managing director Jeff Oram says it was a challenging sale.

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  • Judge Rules Revel Can Terminate Straub Deal

    CAMDEN, NJ—U.S. Bankruptcy Judge Gloria M. Burns ruled on Thursday afternoon in favor of the Revel Casino Hotel’s petition to terminate the sale of the resort to Florida developer Glenn Straub for $95.4 million.

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  • Will This Lending Strategy Become the Norm?

    TAMPA, FL—These days, many institutional lenders have no interest in hanging on to problem commercial loans. Is this the answer?

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  • ‘Fatigued Owners’ Are a New Breed

    SAN DIEGO—Pathfinder Partners’ Mitch Siegler tells GlobeSt.com EXCLUSIVELY that this faction of owners is emerging as a source of opportunity for investors in distressed residential real estate.

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  • Judge Likely to Rule on Revel Sale Thursday

    CAMDEN, NJ—With a decision expected on Thursday, Revel Casino Hotel officials and Florida investor Glenn Straub met privately to try and iron out a sales deal.

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  • Bridge Loan Originations Volume Hits Record Numbers

    LOS ANGELES—Genesis Capital, which provides bridge loans to investors of distressed single-family assets reports a 625% increase in loan origination volume last year.

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  • Investors Still Saying Yes to Flipping

    IRVINE, CA—While some flippers purchase homes to sell to other investors for renting, it’s unclear whether they will move to a buy-and-hold strategy as rental-housing demand continues to rise, says Auction.com’s Rick Sharga.

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  • Newark Town Hall, ‘Believe in Newark,’ Discusses Economic Development

    NEWARK, NJ—Newark city officials say the city is prepared to build on such strengths as its port and transportation infrastructure, and a vibrant and growing arts and culture sector, but warn that the city is still recovering from poor planning and government policies discouraging urban investment put in place after World War II and a flight to the suburbs that accelerated after the city was wracked by the 1967 riots, which the mayor and some in the audience referred to as “the rebellion.”

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  • Endurance Acquires Industrials
    In Naaman's Creek Business Center

    UPPER CHICHESTER TOWNSHIP, PA—Bala Cynwyd-based Endurance Real Estate Group says its affiliate has acquired Naaman’s Creek Business Center, a five-building flex portfolio in Upper Chichester Township, PA, for $9.75 million, or about $51.12 per square foot for the 190,729 square feet complex.

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  • Bank Repos Hit Highs in CA, NY

    IRVINE, CA—A 15-month high in bank repossessions drives a 5% increases in US residential foreclosure activity, and 21 states post year-over-year increases in scheduled foreclosure auctions, according to RealtyTrac.

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  • MCR Renovates Four Texas Hotel Properties

    TEMPLE, Tex.--MCR Development LLC has announced it has completed strategic renovations at four of its premium-branded hotel properties in Texas: the Residence Inn Temple, the Hilton Garden Inn Corpus Christi, the TownePlace Suites Odessa and the Residence Inn Abilene.

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  • NorthMarq Refinances New Jersey Health Care Center in Oradell

    ORADELL, NJ—NorthMarq Capital’s New Jersey office has arranged a $16.5 million refinancing for the New Jersey Health Care Center, a 75,000-square-foot medical office building at 680 Kinderkamack Road in Oradell, NJ. The building's physician-owner turned around the property's flagging occupancy from 54% to over 90%.

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  • Report: Revel Looks to Kill Sale to Straub Today

    ATLANTIC CITY, NJ—After not reaching a deal by the deadline at midnight on Monday, attorneys for the shuttered Revel Casino Hotel say they were going to file court papers today to cancel its agreement to sell the $2.4-billion gaming facility to Florida developer Glenn Straub.

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