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ORLANDO-A US Bankruptcy judge first has to approve a $210-million deal with Greenwich Capital Financial Products of Greenwich, CT that would pay down some of the $850-million debt load and allow the once high-flying time share company, now under Chapter 11, to reboot its sales operations.
COLUMBIA, SC-The institution now names 'go-to' executives in specialized areas such as commercial lending. The move is being made to increase staff performance.
SEATTLE, WA-With national cinema chains heading to bankruptcy court and closing up less profitible theaters, theater building owners are busy wondering what to do in the event their buildings go quiet.
NEWARK-The acting governor, balancing difficult sports venue and Meadowlands Mall projects, wants the former but doesn't want the latter. July 1 looms as a big date. It was once thought he opposed the arena plan.
NEW YORK CITY-Round Two of negotiations for the Downtown mega-complex gear up. But an inside source isn't placing bets on this bidder either. Meanwhile, the Boston Properties JV waits in the wings.
STAMFORD, CT-The bearish attitude pervading Wall Street has crept into the psyches of many in commercial real estate here. Some even wonder if the hard times of the early 1990s will once again plague the Connecticut Gold Coast.
LOS ANGELES-Building giants Equity Residential, KB Home reach pact that will give Equity's apartment tenants a 20% rental credit toward purchasing a KB house. The agreement is aimed at keeping Equity's occupancy rates high, while boosting KB Home's sales.
STAMFORD, CT-umedik Inc., a diagnostic technology developer, reports it has opened a new 18,000 sf Product Centre in Toronto. The firm is headquartered here and currently has another technology center in Toronto.
SAN FRANCISCO-In the largest local deal to date for the firm, Cohen secured $45 million in equity from an institutional investor for Bernal Office Park, a 745,000sf office complex in Pleasanton.