has-been

Lease Up/Lease Down (Nov. 22-28): AOL Cuts the Hard Line

November 24, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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Emaar grapples with worries on delays, debt

November 23, 2009

Shravan Gupta, the 36-year-old co-promoter of real estate developer Emaar MGF Land, has been globetrotting for a while, making presentations to investors in the run-up to the companys Initial Public Offer (IPO) by the year-end

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Cornerstone moves into Europe via Protego

November 23, 2009

GLOBAL Protego Real Estate Investors has been bought by Cornerstone Real Estate Advisers, a wholly-owned subsidiary of the Massachusetts Mutual Life Insurance Company (MassMutual). The UK-based real estate investment management company had expanded

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Credit Bubble Stocks: Distressed Debt Exchanges

November 20, 2009

Credit Bubble Stocks has been involved in two distressed debt exchanges recently: Georgia Gulf (GGC) and Callon Petroleum (CPE). According to a WSJ article from this summer, on average only “three distressed exchanges [take] place a …

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Lease Up/Lease Down (Nov. 15-21): Bioscience, Cleantech Sectors Spur Job Growth

November 17, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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Big Pharma Raises Prices 10% Even As It Promises To Cut Nation’s Drug Costs

November 15, 2009

Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.

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Gensym Corporation Announces Organizational Change to Enhance Focus on Customers

November 11, 2009

AUSTIN, TX–(Marketwire – November 11, 2009) – Gensym Corporation (Gensym) today announced a reorganization and leadership change to bring greater focus on Gensym’s customers. Versata veteran Danielle Royston has been appointed Chief Executive Officer of Gensym. Former General Manager, Patrick Nichols will be leaving Gensym in November. Prior to joining Gensym, Royston spent ten successful years at the global enterprise software company, Trilogy Inc., serving in various leadership roles including Director of Trilogy University, an internationally recognized corporate university and R&D incubator. She is widely recognized as an industry thought leader and has been featured in many prominent publications including Fast Company and The Harvard Business Review.

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Nomura Expands Asian IBank Team

November 11, 2009

Dan McNamara, formerly of Citigroup, has been named head of the firm�s financial institutions group and head of real estate. Daniel Yap, previously with Royal Bank of Scotland, is head of the newly formed insurance solutions group in Asia, as earlier

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Lease Up/Lease Down (Nov. 8-14): Layoffs: A Sprint to the Bottom Line

November 11, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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Fitch: Stuy Town Loans Transferred to Special Servicer (The New York Observer)

November 6, 2009

The main $3 billion mortgage for Stuyvesant Town and Peter Cooper Village has been transferred to a “special servicer,” according to the rating agency Fitch, a significant step taken when loans are in default or on the verge of default. The owners of the giant 11,200-unit Manhattan apartment complex, a partnership led by Tishman Speyer and BlackRock, had just $24 million left last month in a …

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Video: BornFree’s Vigdor Discusses Non-BPA Plastic Baby Bottles: Video

November 6, 2009

Nov. 6 (Bloomberg) — Ron Vigdor, president of BornFree, talks with Bloomberg’s Pimm Fox about the company’s products that don’t contain bisphenol-A, a chemical used to stiffen plastics. BPA, which can leach into food and liquids, has been linked to heart and fertility disorders. BornFree baby bottles and accessories are distributed by Whole Foods Market Inc.’s stores and other retailers. (Source: Bloomberg)

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Back to the Future: CRE Prices Falling Back to Pre 2004 Levels

November 4, 2009

While it has been widely assumed that the bulk of the damage from the devaluation of commercial real estate would hit properties purchased at the peak of the market in 2006 and 2007, Wall Street is now worrying about the deals completed in 2005 and earlier…

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Lebanon’s economic growth to reach 7% next year

November 4, 2009

04 Nov 2009 The growth of the economy in Lebanon will rise to seven per cent during 2010, it has been claimed. According to the Institute of International Finance (IIF), the Middle Eastern country …

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Mumbai redevelopment projects ‘have good investment potential’

November 4, 2009

04 Nov 2009 Redevelopment projects in India have strong potential for investors, it has been claimed. Indiareit Fund Advisors told Livemint that its new 5 billion rupee ($106 million) domestic fund…

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World Bank Online: East Asia & Pacific Update: Transforming the Rebound into Recovery

November 4, 2009

04 Nov 2009Washington, DC – The economic  rebound in East Asia and the Pacific has been surprisingly swift and very welcome but take China out of the equation and the regional picture is less rosy, sa…

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Cranes removed from Burj Dubai

November 4, 2009

04 Nov 2009 Burj Dubai, the world’s tallest building, no longer has any cranes working on it, it has been claimed. Emirates Business 24/7 cited a source “close to the project” who stated that the l…

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Buraimi cement plant ‘to supply the whole of Oman’s market’

November 4, 2009

04 Nov 2009 Once it has been completed, the new cement plant under construction in the Governate of Buraimi could supply the whole of the Omani market, it has been claimed. Al Madina Cement Company…

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Lease Up/Lease Down (Nov. 1-7): AT&T, Wachovia Renew in Florida

November 4, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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DebtX promotes Bill Looney to the role of president of US loan sales

October 30, 2009

DebtX has announced that Bill Looney has been promoted to the position of president of US loan sales . Looney, who was previously executive vice president of DebtX , will continue to be responsible for managing all of DebtX’s loan sale …

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UGA Student Apartments Sell for $11M

October 29, 2009

Search for Atlanta Commercial Real Estate Thursday, October 29, 2009 – University Apartments on Riverbend, a 154-unit student housing complex near the University of Georgia campus, has been purchased by Chicago-based Cardinal Group Investments LLC

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UGA Student Apartments Sell for $11M

October 29, 2009

Search for Atlanta Commercial Real Estate Thursday, October 29, 2009 – University Apartments on Riverbend, a 154-unit student housing complex near the University of Georgia campus, has been purchased by Chicago-based Cardinal Group Investments LLC

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UGA Student Apartments Sell for $11M

October 29, 2009

Search for Atlanta Commercial Real Estate Thursday, October 29, 2009 – University Apartments on Riverbend, a 154-unit student housing complex near the University of Georgia campus, has been purchased by Chicago-based Cardinal Group Investments LLC

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AXT, Inc. Announces Executive Promotions

October 29, 2009

FREMONT, CA–(Marketwire – October 29, 2009) – AXT, Inc. ( NASDAQ : AXTI ), a leading manufacturer of compound semiconductor substrates, today announced three executive promotions. Raymond A. Low, formerly AXT’s vice president, corporate controller and acting chief financial officer, has been appointed vice president and chief financial officer. Davis Zhang, formerly AXT’s president of joint venture operations, has been appointed president of AXT China Operations, with responsibility for managing and developing AXT’s joint venture operations, as well as assisting chief executive officer, Dr. Morris Young, with the management of AXT’s manufacturing facilities in China.

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Do Banks Need to Fail for the Commercial Real Estate Industry to …

October 29, 2009

There has been a great deal of discussion lately about commercial real estate distressed assets on the verge of swamping a barely recovering market, and whether or not some banks are too big to fail for the economy to survive.

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Commercial real estate lender files for Chapter 11

October 26, 2009

) Commercial real estate lender Capmark Financial Group has filed for bankruptcy protection amid mounting bad debt. Capmark has been hurt by rising losses on mortgage loans, and has had to foreclose on

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South Florida homeowners walking away from underwater mortgages (Miami Herald)

October 24, 2009

WAITING GAME: Prepared for the worst, Duque has been surprised by the seemingly minimal consequences so far. Andres Duque thought he got a real steal when he paid $125,000 for his Little Haiti condo. But four years later, similar units are selling for $35,000 and even less.

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East Cobb County Merchants Exchange Transaction | Atlanta …

October 23, 2009

And, good news for the current tenants and their patrons, the commercial real estate company has no intentions of changing Merchant’s Exchange anytime soon. Anyone who currently lives in East Cobb County or has been visiting the area …

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Lease Up/Lease Down (Oct. 18-24) CHI & TechTarget Move, Harley Gets Back to Basics

October 20, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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CRE Distress Is on Everyone's Minds (Thursday's News & Notes …

October 15, 2009

There has been a debate carried on in the media of late about whether or not the damage from distressed commercial real estate loans will come to rival the mess created by the sub-prime mortgages. The consensus so far? …

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More office, industrial space for sublease (St. Louis Post-Dispatch)

October 15, 2009

There’s more space available, for less money, than there has been in quite some time in this town. That’s the nut of a new report from CB Richard Ellis on the St. Louis commercial real estate market.

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Lease Up/Lease Down (Oct. 11-17) Studley Relocating & Expanding in New York

October 13, 2009

News of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers has been consolidated into Lease Up/Lease Down. Look to Lease Up/Lease Down every week for valuable information that can be used as a source…

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Crossman & Company President to Address Florida Redevelopment Association in Two Sessions

October 13, 2009

ORLANDO, Fla. – John Crossman, president of Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, has been asked moderate a panel and participate in a second roundtable discussion at the upcoming Florida Redevelopment Association Conference.

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Investcap Advisors LLC: CMBS Roadmap: Where Is Your Loan Going?

October 12, 2009

Meanwhile, Fitch Ratings says $36.1 billion in CMBS has been transferred to Special Servicing . But as multifamily owners deal with their own CMBS issues, there is uncertainty about what happens to CMBS loans and where to go when your …

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Lazard CEO Bruce Wasserstein Hospitalized for `Serious’ Heart Irregularity

October 11, 2009

By Jackie Cohen Oct. 11 (Bloomberg) — Lazard Ltd. Chairman and Chief Executive Officer Bruce Wasserstein has been hospitalized for an irregular heartbeat. His condition is serious, but he is recovering, the company said in a statement distributed through Business Wire.

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304-Unit Bruton Oaks Sold From Foreclosure

October 10, 2009

Search for Dallas Commercial Real Estate Thursday, October 08, 2009 – The 304-unit Bruton Oaks Apartments has been snagged from foreclosure by a local buyer. KV3 Bruton LP acquired the class C complex from LNR

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YRC Worldwide Nears Key Date On Debt Requirements

October 9, 2009

detail. Analysts said YRC has been using cash at a high rate despite its efforts to pay down debt and raise money through real estate sales, or its efforts to cut costs through employee concessions, layoffs and other means. Wolfe Research analyst Edward

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House sales decline, but experts optimistic (Cherokee Tribune)

October 8, 2009

House sales were down in Cherokee County last month, but business has been good lately, according to those in the real estate profession. There were 154 houses sold in the county last month, accor…

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USPR Announces the Election of David W. Burney to the Board of Directors

October 8, 2009

LAKE MARY, FL–(Marketwire – October 8, 2009) – M. Jack Kugler, Chief Executive Officer and Chairman of the Board of U.S. Precious Metals, Inc. ( OTCBB : USPR ) (“USPR”), announced that the Board of Directors (the “Board”) of USPR elected David W. Burney as a member of the Board, effective immediately, filling an existing vacancy on the Board. Mr. Burney has been USPR’s President since December 20, 2007. About U.S. Precious Metals, Inc.:

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Simmons’ Bankruptcy Means Big Profits For Buyout Firms

October 5, 2009

Simmons says it will soon file for bankruptcy protection, as part of an agreement by its current owners to sell the company — the seventh time it has been sold in a little more than two decades — all after being owned for short periods by a parade of different investment groups, known as private equity firms, which try to buy undervalued companies, mostly with borrowed money.

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Winning Hand: A Full House Beats the Recession

September 30, 2009

Just as the recession has been tougher on Main Street than on Wall Street, it has also hit two distinct types of office properties disproportionately. One type of office building has done surprisingly well, and one has suffered enormously. More than 75…

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Multifamily sales creeping back as bargains abound

September 26, 2009

… While much of the commercial real estate market, both locally and nationally, has been … for the buyer. Banks willing to sell distressed properties at much lower prices will drive …

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Economist finds good news about commercial real estate by looking back

September 25, 2009

News from the commercial real estate front has been so grim for so long that economist Robert Bach at brokerage Grubb & Ellis has taken to writing a short e-mail feature called Good News Friday

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Florida Gulf Coast: A Ponzi Haven?

September 21, 2009

The list of failed Southwest Florida investments keeps getting longer. Arthur G. Nadel faces 15 federal counts in an alleged scheme that cost investors nearly $400 million. Beau Diamond has been hit with wire fraud and money laundering charges, accused of preying on Sarasota’s New Age community. John and Marian Morgan have traded their bayfront mansion for Sri Lankan jail cells while awaiting indictment over an alleged get-rich-quick prime bank scheme.

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NFL Sets Its Sights On China With Reality TV Show "NFL Blitz"

September 12, 2009

For years the NFL, which kicks off its regular season in full on Sunday, has been the most lucrative sports league in the world, generating an estimated $8 billion a year in revenue. But as technology improved, making it possible for American sports to be seen in more and more countries, the NFL has found itself in a dilemma, staring longingly at blossoming international markets yet with a game few outside of this country understand.

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Pierce Named as President of Voit’s Commercial Brokerage Division

September 4, 2009

John D. Pierce has been promoted to President of Voit Real Estate Services? Commercial Brokerage division. In his new role, Pierce will be responsible for promoting Voit?s strong company image, building relationships within the industry and

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Bahrain’s economy ‘boosted by tourism’

September 1, 2009

01 Sep 2009 Bahrain’s economy has received a boost as a result of the large numbers of tourists travelling to the Middle Eastern country, it has been suggested. According to figures from Manama-bas…

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Discount extends fresh loans to Delek Real Estate

August 30, 2009

Delek Real Estate is showing signs of recovery, and Israel Discount Bank has been enlisted to help them survive by extending loans totaling several hundred million shekels. Discount is thus joining parent

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Virginia Residential Project on Foreclosed Home List …

August 27, 2009

A commercial and residential development project in Virginia has been placed on foreclosed home list. The property is scheduled to be auctioned off on September 17.

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Segro chief Ian Coull has a formula for success: ‘Stick to what you do best’

August 22, 2009

… the right time.” Segro is now a real estate investment trust, but the introduction of such … about the Brixton deal, saying the financially distressed company has been bought at a price …

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