Fontainebleau Las Vegas LLC and two of its affiliates are just the latest to find themselves flat out of cash in Sin City. The owners of the 3,900-room resort, which is 70 percent complete and was set to open in October, filed for Chapter 11 bankruptcy protection today. The move came after the [...]

With rumors circulating of a sale price around $100 per square foot, the sale of the 66-story American International Group headquarters in Lower Manhattan likely set the bar for the biggest sale in the area market thus far in 2009.Youngwoo & Associates (YWA), a New York-based investment and development firm, together with Kumho Investment Bank [...]

A new report by Real Estate Econometrics, based on FDIC data, puts the commercial real estate loan default rate at its highest level in more than a decade and a half, at least those loans held by regulated deposit-taking institutions—banks and thrifts, for the most part. The default rate soared from 1.62 percent in the [...]

Plagued by the global recession that has slashed both business and pleasure travel, the hotel market is suffering on an international level and investors have backed away from buying or building in most locations, with a few exceptions–like Brazil. According to a new report by real estate services firm Jones Lang LaSalle Hotels, the positive [...]

Plagued by the global recession that has slashed both business and pleasure travel, the hotel market is suffering on an international level and investors have backed away from buying or building in most locations, with a few exceptions–like Brazil. According to a new report by real estate services firm Jones Lang LaSalle Hotels, the positive [...]

It’s an office trade of such a size that has not been seen in Connecticut, no less challenged by job losses and economic malaise than most other markets, in quite a while. Matrix Connecticut L.L.C. has just taken over ownership of the 1 million-square-foot Danbury Corporate Center in Danbury, Conn., from GERA Danbury L.L.C. in [...]

The Chrysler reorganization and sale to Fiat, which was to have been a model of a quick turn-around, has hit a snag in the form of a court order by U.S. Supreme Court Associate Justice Ruth Bader Ginsburg. Pension funds that hold some of Chrysler’s secured loan are objecting to the goings-on, claiming it isn’t [...]

Clothing retailer Men’s Wearhouse has emerged victorious from a feverish nine-hour auction of assets belonging to off-price chain Filene’s Basement, which fell victim to the retail market’s downward spiral and filed for Chapter 11 bankruptcy protection in early May, just two weeks after its purchase by Buxbaum Group affiliate FB Acquisition II. Acting through its [...]

Yet another deep-pocketed real estate entity has jumped into the grave-dancing game—only please, don’t call it that, but rather strategic investment in distressed properties. The player is a newly formed investment company called Starwood Property Trust Inc., a creation of Starwood mogul Barry Sternlicht, which filed with the Securities and Exchange Commission late last week [...]

Despite the ongoing weakening of industrial market fundamentals, banks are warming up to certain players like First Industrial Realty Trust Inc., which has just managed to get its hands on $154 million in the form of three loans secured by assets encompassing a total of 6.3 million square feet. Putting up for collateral [...]