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CHICAGO-Investors and developers looking to finance suburban office buildings or fashion retail projects beware: Lenders are casting a cautious eye at financing those deals despite the current environment of low cost capital.
OCEANSIDE, CA-Developer Douglas Manchester, already planning a beachfront resort here, has now submitted plans for a hotel and golf course in the El Corazon area three miles inland.
BETHESDA, MD-The hotel was included in LaSalle's purchase of I&G Capital Inc. At the same time it announced the purchase, LaSalle also downgraded its earnings projections for the year.
LONDON-Brixton has won detailed planning permission from Runnymede Borough Council for its 16 acre Aviator Park office development site at Addlestone, near Weybridge, Surrey.
NEW YORK CITY-Sonnenblick-Goldman's Peter Berk, director of Capital Markets, tells GlobeSt.com, "There's more lender interest than borrowers." He also says the trend will likely not end before 2002. He also notes an increased aggressiveness on Wall Street.
SAN DIEGO-Ward North America Inc. currently occupies the entire 11th and 15th floors and a portion of the 16th floor in the downtown tower, which currently carries the John Burnham & Co. name. Ward plans to expand into the 18th floor in August.
DALLAS-Money is still there to be had for Texas projects, say commercial real estate professionals. It's a little tighter than last year, but it's just caution on the part of lenders, who are keeping the state in check for the future to avoid reliving the past.
STAMFORD, CT-GE Capital Corp., will apparently stand put with its $7-billion financing proposal to Finova Group, despite news that rival Berkadia LLC has sweetened its offer for control of the bankrupt financial services firm.