Plans for a $4 billion Crown casino and hotel in Las Vegas have hit a big snag and development group LVT1 L.L.C.–which includes Crown Ltd., IDM Properties and York Capital Management–has decided to walk away from the project.As per news from the Wall Street Journal, the developers have put the property up for sale, having [...]

Ethan Penner, known in the real estate industry as one of the foremost experts in securitization, is now a player on CB Richard Ellis Investors’ team. Penner has taken on the role of executive managing director and is also holding a seat on the executive committee.Penner’s reputation as a leader in securitization began to take [...]

Despite the global credit crunch, the leasing market for bulk distribution space in the United States is holding steady, and the development side surged in the second half of 2007, according to a pair of semi-annual reports released today by distribution space powerhouse ProLogis.  ProLogis’s U.S. Property Market Review reports that the average vacancy rate [...]

Vornado Realty Trust has agreed to sell its entire interest in AmeriCold Realty Trust, a third-party logistics supplier to the food industry, to The Yucaipa Cos., a Los Angeles based investment firm with interests in grocery store chains. Vornado owned a 47.6 percent share and will receive net proceeds of approximately $220 million, resulting in [...]

Though plans by Investment Corp. of Dubai to buy Spanish real estate giant Inmobiliaria Colonial SA have been given the deep-six, there are apparently other bidders eager to get a piece of Madrid-based Colonial or its assets. Colonial CEO Mariano Miguel, speaking on Bloomberg Television earlier today, alluded to messages “on my Blackberry” about interested [...]

DebtX, a loan sale advisor for commercial debt, announced last week that it would sell more than $380 million in commercial real estate loans secured by properties in the southeastern United States. The transaction includes more than 200 lending relationships, with loans range in size up to $20 million and are secured primarily by land, [...]

Approximately three months after having formed a special committee to explore options for enhancing stockholder value, including a potential sale, Los Angeles-based Maguire Properties Inc. has announced that no desirable offers have come to the fore and that the pursuit of a buyer will no longer be part of its consideration of possible alternatives.Within the [...]

Two projects started by Atlanta-based Post Properties in 2006 will see fruition this spring with the opening of leasing offices for Post Eastside mixed-use development in the Dallas suburb of Richardson and the upscale Post Alexander luxury apartment complex in Atlanta’s Buckhead area. The Post Eastside master-planned development will include 80,000 square feet of retail, [...]

Shirlington Gateway, a premier office property in the Arlington, Va., has just come under new ownership, courtesy of a transaction valued at $62.5 million. Choi Cos. L.L.C. took the 207,000 square-foot building off the hands of Federal Capital Partners, which had acquired the property just under two years ago for $55 million.Developed in Shirlington Gateway [...]

A co-investment program between Lexington Realty Trust and Inland American Real Estate Trust Inc. has closed on the acquisition of 11 primarily single-tenant net-leased assets from Lexington and its subsidiaries for a total price of $270.2 million.  The purchase price includes the assumption of non-recourse first mortgage financing secured by some of the assets. The [...]