Real Estate Weekly News back issues from September 2008:
New Concept Energy Reports Second Quarter 2008 Results.(Financial report)
Sep 05, 2008 ... New Concept Energy, Inc. (AMEX: GBR), ("the Company" or "NCE"), a Dallas-based company investing in and developing oil and gas leases, reported net income of $14.9 million or $7.73 per share and $15 million or $7.84 per share for the three and six months ended June 30, 2008, compared to ...
Alliance Bancshares California Reports Second Quarter 2008 Results.(Financial report)
Sep 05, 2008 ... Alliance Bancshares California, (OTC BB: ABNS) the holding company for Alliance Bank, released its quarterly operating results. Curtis S. Reis, Chairman and Chief Executive Officer, stated, "While I believe that the real estate market decline is nearing its bottom, this has been ...
Incisive Media Names Anthony Paonita Editor in Chief of Corporate Counsel Magazine; Promotes Zabcik to Executive Editor.
Sep 05, 2008 ... Incisive Media, a global leader in specialized business news and information, today named Anthony Paonita as editor in chief of Corporate Counsel magazine, the leading business magazine for chief legal officers at companies, government agencies and nonprofits across the U.S. Paonita, ...
N3 Capital Partners Becomes Pennybacker Capital.
Sep 05, 2008 ... N3 Capital Partners, LLC, a Texas-based real estate private equity firm, announced its new name today: Pennybacker Capital, LLC. Led by Tim Berry, who earlier co-founded N3 Development, Ltd., Pennybacker Capital specializes in opportunistic and value-added commercial real estate ...
Leads360 Integrates with Prime Debt Soft to Expand Presence in Growing Debt Industry.
Sep 05, 2008 ... Leads360, the market leader in the lead management software industry, announces its integration with debt settlement software provider Prime Debt Soft. The mortgage industry's decline has been disastrous for many companies, but Leads360 continues to flourish as it expands into the next ...
NetMore America Appoints Forward Thinking Mortgage Industry Leader Lisa Schreiber As Chief Strategy Officer.
Sep 05, 2008 ... NetMore America, Inc. ("NetMore"), an expanding regional mortgage lender, announced the addition of Lisa Schreiber to its executive management team as the Company's new Chief Strategy Officer responsible for defining and implementing the Company's vision and strategy to build NetMore into ...
Bankrate: Mortgage Rates Fall but Spreads at 22-Year High.
Sep 05, 2008 ... Mortgage rates retreated, with the average conforming 30-year fixed mortgage rate falling to 6.66 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. The average ...
Budget Relief in Sight for Homeowners as Innovative Way to Tap Equity Without Debt, Interest or Monthly Payments Expands into Four Mid-Atlantic States.
Sep 05, 2008 ... Millions of homeowners in the most populated Mid-Atlantic states now have the ability to unlock equity in their homes without ever incurring debt, interest charges or monthly payments. REX & Co., a real estate investment company dedicated to creating safe alternatives to debt financing, ...
Michigan Housing Authority Announces Release of Cable Show 'House Michigan!' Addresses Homeownership, Foreclosure Prevention.
Sep 05, 2008 ... Interim Executive Director Keith Molin of the Michigan State Housing Development Authority (MSHDA) announced that the latest edition of MSHDA's new cable program, House Michigan!, will begin airing this week on cable stations throughout the state. This month's program will address ...
Mortgage Solutions for Bad Credit Clients May Revitalize the Industry.
Sep 05, 2008 ... i3 Solutions announced that Chris Reshetar - The Mortgage Genius - was able to close more bad credit mortgage loans then ever before by utilizing i3 Solutions' S.O.S. - Score Optimization System, the latest technology in the credit repair industry. Mortgage professionals like ...
First-Time Homebuyer Tax Credit a Boost for Homebuyers.
Sep 05, 2008 ... A one-time tax credit for first-time homebuyers is part of a new federal housing stimulus law designed to help new buyers jump into homeownership and stimulate the real estate market across the country. "The Illinois Association of REALTORS(R) believes this tax credit is an ...
Standard & Poor's Announces May Results of the S&P/GRA Commercial Real Estate Indices SPCREX.
Sep 05, 2008 ... Standard & Poor's announced the May results for the S&P/GRA Commercial Real Estate Indices. Nationally, commercial real estate prices are up +3.6% versus May 2007. The indices measure the change in commercial real estate prices by property sector and geographic region in the United States ....
Overstock.com Brings Real Estate Auctions Direct to Consumers.
Sep 05, 2008 ... Overstock.com, Inc. (NASDAQ:OSTK) announced the addition of auctions to its real estate platform (http://realestate.overstock.com/) allowing consumers to search real estate auction listings and link to online auctions. Overstock.com has joined with real estate auction company, Williams & ...
Coachmen Housing Group Announces New Mortgage Program.
Sep 05, 2008 ... All American Homes(R) and Mod-U-Kraf Homes(R), both subsidiaries of the Coachmen Housing Group, announced the launch of a new initiative to help provide prospective home buyers with more options for the financing of the company's new homes. All American Choice Mortgage(TM) will ...
SIOR Commercial Real Estate Index Reflects Country's Economic Woes.
Sep 05, 2008 ... The Second Quarter 2008 SIOR Commercial Real Estate Index, compiled by the Society of Industrial and Office Realtors (SIOR) in association with the National Association of Realtors (NAR), indicated that commercial real estate markets have not yet begun their rebound to market equilibrium ....
Inland Real Estate Auctions, Inc. Announces Fall Auction Series.
Sep 05, 2008 ... Inland Real Estate Auctions, Inc. announced an upcoming auction of several high-profile commercial and residential properties in Chicago and the suburbs. Properties up for bid during the Oct. 2 event include a 28,000-square-foot retail outlot building at the Westfield Fox Valley Mall in ...
Apollo Real Estate Advisors Increases Capital for U.S. Debt Fund.
Sep 05, 2008 ... Apollo Real Estate Advisors announced that it has raised additional capital for its debt investment fund, Apollo Real Estate Finance Corp. (AREFIN). Apollo increased overall capital for AREFIN's investment program from $621 million to $930 million through the formation of AREFIN ...
The Inland Real Estate Group of Companies, Inc. Announces Acquisitions During First Half 2008 Totaling $2 Billion.
Sep 05, 2008 ... The Inland Real Estate Group of Companies, Inc. announced that the companies in the group collectively acquired approximately $1.9 billion in assets during the first half of 2008. The total represents 194 properties aggregating over 7.8 million square feet, in addition to the ...
Can a Game Help Revive the Down Real Estate Market and the Economy?
Sep 05, 2008 ... What if a homeowner, facing foreclosure, can sell off his ownership interest in his home in shares, instead of having to sell his home or lose it entirely? What if, instead of selling 100% of his ownership interest in his home, he can sell, for example, 49% of his ownership interest to ...
Post Properties Sells Post Oglethorpe in Atlanta for $38.5 Million; Refinances Mortgage Debt Securing Properties Held in Joint Ventures; Moody's and S&P Affirm Ratings and Change Outlook.
Sep 05, 2008 ... Post Properties, Inc. (NYSE: PPS) announced the sale of its Post Oglethorpe(R) apartment community located in Atlanta, GA for a gross sales price of approximately $38.5 million. Post Oglethorpe(R) is a garden-style apartment community located in the Brookhaven area of Atlanta and consists ...
Grand Opening for First Phase of Whistler Crossing in Riverdale.
Sep 05, 2008 ... Whistler Crossing, an innovative 132 unit residential development located in Riverdale, Illinois, will be celebrating its grand opening on Thursday, August 21st at 10 AM at 13711 S. Lowe Avenue. Holsten Real Estate Development Corporation, Turnstone Development and the Village of Riverdale ...
Pennsylvania Department of Banking Announces Enforcement Action Against NorthStar Mortgage LLC.
Sep 05, 2008 ... A mortgage broker with offices in Northampton and Chester counties has lost its licenses because of alleged fraud committed by its employees. Secretary of Banking Steve Kaplan said the action against NorthStar Mortgage LLC means it can no longer do business in Pennsylvania. ...
VA Raising Home Loan Ceilings in Many Areas.
Sep 05, 2008 ... The Department of Veterans Affairs (VA) will use a locality-based approach in raising ceilings on its no-downpayment home loans from the current $417,000 to as much as $729,000. The increases are effective immediately under legislation recently enacted with President Bush ...
NeighborWorks America Honors Businesses for Contributions to Lower-Income Communities.
Sep 05, 2008 ... NeighborWorks(R) America has announced the most generous contributors to its work in affordable housing, foreclosure intervention and community development for FY 2007. The organizations were presented with the annual NeighborWorks(R) Partner Awards at a ceremony in Chicago on August 19. ...
Thornburg Mortgage Announces Extension of Exchange Offer and Consent Solicitation for All Series of Preferred Stock.
Sep 05, 2008 ... Thornburg Mortgage, Inc. (NYSE:TMA), announced that it is extending the expiration of its exchange offer and consent solicitation (the "Exchange Offer") for all outstanding shares of its 8.00% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock"), Series D Adjusting ...
Diversified Mortgage Workout Corporation Receives Additional Investment Commitments.
Sep 05, 2008 ... Diversified Mortgage Workout Corporation (Pink Sheets: DMWK) announced that its Board of Directors over the weekend has negotiated an additional investment commitment of 30,000,000 dollars from a private investment group domestically in addition to a pledged foreign investment commitment ...
Grubb & Ellis Realty Investors Acquires One Live Oak in Atlanta.
Sep 05, 2008 ... Grubb & Ellis Realty Investors, LLC announced it has acquired One Live Oak, an approximately 199,000-square-foot Class A office building in the Buckhead - Lenox submarket of Atlanta, on behalf of tenant-in-common investors. Built in 1981 on more than two acres, the 10-story ...
Pure Industrial Real Estate Trust announces August distribution.
Sep 05, 2008 ... Pure Industrial Real Estate Trust ("PIRET") (TSXV: AAR.UN) is pleased to announce that its Board of Trustees has approved a cash distribution of $0.025 per trust unit for the period from August 1, 2008 to August 29, 2008 (equivalent to $0.30 per trust unit on an annualized basis). This ...
Vestin Realty Mortgage II, Inc. Announces Changes to the Share Repurchase Program.
Sep 05, 2008 ... Vestin Realty Mortgage II, Inc. (Nasdaq: VRTB) a real estate investment trust (the "Company") announced that its Board of Directors on March 23, 2008 authorized the repurchase of up to $10 million worth of the Company's common stock (the "Repurchase Program"). To date the Company has ...
C.A.R. Reports Entry-Level Housing Affordability Increases 50 Percent in Second Quarter 2008 Compared with a Year Ago.
Sep 05, 2008 ... The percentage of households that could afford to buy an entry-level home in California stood at 48 percent in the second quarter of 2008, compared with 24 percent for the same period a year ago, according to a report released by the CALIFORNIA ASSOCIATION OF REALTORS(R). ...
1.1 Million-Square-Foot Class a Office Portfolio Sale in Austin Closed by HFF.
Sep 05, 2008 ... The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced that it closed the sale of Riata Corporate Park and Riata Crossing, a Class A office complex totaling 1.1 million square feet in Austin, Texas. HFF marketed the property exclusively on behalf of the seller, a ...
Adam Kluger Public Relations AKPR Hired by Manhattan Commercial Realty MCR to Oversee Launch of SeeAndMove.com, a Commercial Real Estate Website Offering Narrated Video Tours of Prime Manhattan Office Space.
Sep 05, 2008 ... Manhattan Commercial Realty (www.mcrny.com) and Adam Kluger Public Relations (www.adamklugerpr.com) announced the launch of MCR's new website, www.seeandmove.com, which offers regularly updated video tours of hundreds of premium Manhattan office spaces. "SeeAndMove.com provides ...
Mortgage Contracting Services Expands to Meet Increased Demand.
Sep 05, 2008 ... Mortgage Contracting Services (MCS), a property preservation and inspection services provider, announced that to accommodate the company's explosive growth, it has significantly increased its office space in Dallas and Tampa. In addition to the expansion, MCS has grown its domestic client ...
People Working Cooperatively, Humana to Help 25 Low-Income Louisville Homeowners With Sept. 27 Event.
Sep 05, 2008 ... On September 27, People Working Cooperatively (PWC) celebrates its first Louisville event: People Working Cooperatively in Louisville. More than 250 Louisville-area volunteers will provide home repairs, modifications and maintenance services for 25 low-income elderly or disabled homeowners ...
The 5th Fastest Growing Company in America Is a Las Vegas Real Estate Developer?!
Sep 05, 2008 ... Inc. ranked Las Vegas real estate developer Group Gemstone today in the top five on its annual ranking of the 5,000 fastest-growing private companies in the country. Group Gemstone also ranked as the fastest growing real estate developer in America, as well as the fastest growing private ...
Warner Center Homeowners Demand Smoke-Free Living.
Sep 05, 2008 ... Homeowners at The Met, a popular condominium located at the Warner Center in Woodland Hills have begun a process of petitioning to restrict smoking in both private and common areas at the complex. The campaign to make The Met smoke-free began after multiple claims of unwanted secondhand ...
Inland Real Estate Corporation Pays August and Declares September Cash Distribution to Common Stockholders.
Sep 05, 2008 ... Inland Real Estate Corporation (NYSE: IRC) announced that today it paid a cash distribution of $0.08167 per share on the outstanding shares of its common stock to common stockholders of record at the close of business on July 31, 2008. The aggregate cash distribution paid to a particular ...
Boardwalk Real Estate Investment Trust - TSX accepts renewal of normal course issuer bid.
Sep 05, 2008 ... Boardwalk Real Estate Investment Trust ("Boardwalk") is pleased to announce that The Toronto Stock Exchange has accepted its notice of intention to renew its normal course issuer bid (the "Bid"). Boardwalk has 49,712,541 issued and outstanding trust units as of today's date ....
DebtX to Sell $292 Million in Residential Real Estate Loans.
Sep 05, 2008 ... DebtX, the largest online marketplace for debt, announced the sale of more than $292 million in non-performing residential real estate loans. The portfolio will be offered in 19 separate pools and will bid on September 18, 2008. The loans were originally made by a commercial ...
Estate Agent's Body "Hijacked" by Outside Groups, Real Estate Firm Claims.
Sep 05, 2008 ... A leading real estate company is considering whether to continue as a member of the National Association of Estate Agents (NAEA), due to concerns that the body may be being used as a platform for libellous comments against it. MRI Overseas Property, the largest ...
More Than $30 Million Approved in SBA Disaster Loans; Victims Urged to Return Applications Before September 15.
Sep 05, 2008 ... More than $30 million in U.S. Small Business Administration Disaster Assistance loans have been approved for residents and business owners in Wisconsin who were affected by the severe storms, tornadoes and flooding that occurred June 5 - July 25, 2008. "Currently, 1,252 home and ...
Wallick & Volk/Century 21 Associates Offer a Free Seminar.
Sep 05, 2008 ... Wallick & Volk and Century 21 Associates are offering a free seminar on Why It Still Makes Sense to Buy versus Rent, The Housing Bubble and Media Myths and Industry Facts. In this seminar you will learn: The true cost of renting, The tax advantage of home ownership, How to ...
Tampa Bay Crown Jewel "Bella Sol" Condominiums to Sell at Real Estate Auction.
Sep 05, 2008 ... Located on the serene waters of Tampa Bay, "Bella Sol" Seaside Villas and Marina will sell five new condominiums at absolute auction to the highest bidders from a selection of 23 condominiums on Saturday, September 6th at 11 a.m. on-site. Bella Sol's private marina with direct access to ...
Thompson National Properties Opens New York Office and Hires Robert Cade as Managing Director of the Company and Chief Investment Officer of the TNP Debt Fund, L.P.
Sep 05, 2008 ... Thompson National Properties, LLC announced that Robert Cade has joined the company as managing director of Thompson National Properties and chief investment officer of the TNP Debt Fund, L.P. "Robert has led a prestigious career in the banking industry," said Mark Osgood, ...
Jessica B. Allmand Joins McDonald Hopkins Law Firm as of Counsel in Detroit Market.
Sep 05, 2008 ... Jessica B. Allmand has joined the Bloomfield Hills, Michigan office of McDonald Hopkins LLC as Of Counsel in the Litigation and Business Restructuring Departments. A practicing attorney for more than 13 years, Allmand specializes in complex litigation, especially in the creditors' rights ...
New York Observer to Host 'Observer Living: Condo Showcase' September 21st.
Sep 05, 2008 ... Following the successful debut last spring of 'Observer Living: Condo Showcase', the New York Observer has announced that it will be holding a larger, even more spectacular, marketplace for consumers, residential brokers and developers next month. Based on the success of the first ...
Standard Pacific Corp. Announces Results of Special Meeting of Stockholders.(Financial report)
Sep 05, 2008 ... Standard Pacific Corp. (NYSE:SPF) announced that, at the Company's special meeting of stockholders held earlier today, stockholders overwhelmingly voted in favor of each of the three proposals on the meeting agenda. Approval of the first proposal resulted in the conversion of ...
The Orchard at the Carneros Inn Sets a New Standard for Luxury Real Estate With Enhanced Ownership Benefits.
Sep 05, 2008 ... Timbers Resorts announced exciting new additions to the benefits owners enjoy when they purchase a fractional interest at The Orchard at The Carneros Inn, a private residence club located within PlumpJack's renowned Napa, California resort. Owners at The Orchard are granted membership in ...
Cadwalader Forms Covered Bonds Practice Group.
Sep 05, 2008 ... Cadwalader, Wickersham & Taft LLP, one of the world's leading international law firms, announced the formation of a Covered Bonds practice group to serve global clients entering the space and to advocate on behalf of removing regulatory impediments to the issuance of covered bonds by U.S ....
Fitch Ratings Affirms PPL Montana, LLC at 'BBB'; Outlook Stable.
Sep 05, 2008 ... Fitch Ratings has affirmed the 'BBB' rating of PPL Montana, LLC's (PPLM) pass-through trust certificates due 2020. The affirmation reflects ongoing strong operating and financial performance, and fixed charge coverage ratios continue to exceed 3.0 times (x). The rating is based on PPLM's ...
Parkway Properties Announces Sale of St. Petersburg, Florida Asset.
Sep 05, 2008 ... Parkway Properties, Inc. (NYSE:PKY) announced the closing of the fee simple sale of the Wachovia Plaza office property, located in the CBD of St. Petersburg, Florida, and the assignment of the leasehold interest in 240 parking spaces in the adjacent Mid-Core Garage owned by the City of St ....
Silver-McCann Apartment Group II, L.P. Enters the Houston, Texas Market With the Acquisition of Villas at West Road Apartments.
Sep 05, 2008 ... Silver-McCann Apartment Group II, L.P. announced the acquisition of Villas at West Road Apartments in Houston, Texas. The 240-unit, garden-style community located in the northwest submarket of metropolitan Houston was built in 2006 and will be managed by Lincoln Property Company. The ...
Small Biz Finance Experts Urge Entrepreneurs to Avoid Credit Vortex With Solid Foundation, Sound Strategies.
Sep 05, 2008 ... Amidst the glaring media attention focused on escalating home foreclosure rates and skyrocketing consumer debt, one of the most critical economic issues in the country is being completely overshadowed: small business credit. And, small business finance experts say that entrepreneurs must ...
Winthrop Realty Trust Acquires an Interest in a Six Building Office-Flex Campus Located in Northwest Atlanta, Georgia.
Sep 05, 2008 ... Winthrop Realty Trust (NYSE:FUR) announced that it has acquired through a venture with Sealy & Company Inc. a six building office-flex campus containing 469,667 square feet in Northwest Atlanta, Georgia. The campus is both similar to and adjacent with the twelve building 471,871 square ...
Zillow.com Partners With Baird & Warner.
Sep 05, 2008 ... Zillow.com and Baird & Warner announced a partnership which enables Baird & Warner to automatically feed all of their listings to Zillow.com on a daily basis, joining the hundreds of partners participating in the Zillow Listings Feed program, which launched in November 2007 and has grown ...
Acadia Realty Trust Announces Quarterly Dividend.
Sep 05, 2008 ... Acadia Realty Trust (NYSE: AKR - "Acadia"), a real estate investment trust ("REIT"), announced the dividend for the quarter ending September 30, 2008. Acadia's Board of Trustees has declared a dividend of $0.21 per Common Share payable on October 15, 2008 to holders of record as ...
Tresor Properties Closes Escrow on Oldest Remaining House in Laguna Beach.
Sep 05, 2008 ... Tresor Properties, a premier Laguna Beach, Calif., real estate investment, construction and brokerage company, has acquired the oldest remaining house in Laguna Beach, located on 154 Pearl Street. Adding to the company's portfolio of historic and distinctive properties in the ...
Regis Homes of Northern California Introduces Altaire Townhomes in Palo Alto.
Sep 05, 2008 ... Regis Homes of Northern California will open the sales office of its new Palo Alto town home project, Altaire, on Saturday, August 16th. This unique collection of 96 lifestyle town homes is part of a 12-acre site that includes the Taube-Koret Campus, a $270 million multi-generational ...
World IPTV Access Infrastructure Markets Report is out Now.(Report)
Sep 05, 2008 ... Research and Markets (http://www.researchandmarkets.com/research/5a4c31/world_iptv_access) has announced the addition of Frost & Sullivan's new report "World IPTV Access Infrastructure Markets" to their offering. There are two main thrusts in the market place currently shaping ...
USG Corporation's L&W Supply Subsidiary Wins Highest Level of Partners of Choice Award from David Weekley Homes.
Sep 05, 2008 ... USG Corporation's (NYSE: USG) L&W Supply subsidiary, Seacoast Supply, received the coveted "Partners of Choice Award" from David Weekley Homes, the largest for-profit privately held homebuilder based in Houston, TX, serving 16 cities across the United States. Seacoast Supply, having ...
National Maintenance Group Provides Update on US Airways O'Hare Field Contract.
Sep 05, 2008 ... National Maintenance Group, Inc., (Pink Sheets:NMGP) is pleased to report that since recently being awarded the contract for US Airways' location at Chicago O'Hare Field for janitorial cleaning of aircraft and facilities, National Maintenance Group has made outstanding improvements to the ...
Ramco-Gershenson Announces the Contribution of the Plaza at Delray Shopping Center to Joint Venture.
Sep 05, 2008 ... Ramco-Gershenson Properties Trust (NYSE:RPT) announced that it has contributed the Plaza at Delray shopping center in Delray Beach, Florida, to a joint venture with an investor advised by Heitman LLC. Permanent financing for the shopping center was secured by the joint venture in the ...
Douglas Emmett, Inc. Obtains a $365 Million Term Loan.
Sep 05, 2008 ... Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced that it has obtained a non-recourse $365 million term loan to refinance the bridge loan that was obtained in connection with the Company's acquisition of a six-office portfolio on March 26, 2008. This new ...
Techalt, Inc. Receives Letter of Intent to Partner with Cascadia Industries Incorporated.
Sep 05, 2008 ... Techalt, Inc. (Pink Sheets:TCLT) ("Techalt" or the "Company") announced that it has commenced negotiations to partner with Cascadia Industries Incorporated ("Cascadia"). The Company received a signed letter of intent from Cascadia outlining a proposed stock purchase agreement by the ...
Riverside County BIA Names New Executive to Lead Association.
Sep 05, 2008 ... Today, the Riverside County Building Industry Association (BIA) announced the appointment of Mark Knorringa as new Executive Officer of the Association. Executive Officer Borre Winckel recently accepted the position of CEO of the BIA of San Diego County. "Today, I am thrilled to ...