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Commercial News for 7/30/10
WSJ.com: Commercial Real Estate
For AvalonBay, Long Island Filled With Risk, Reward
The region near New York City is one of the nation's toughest markets to development properties. AvalonBay is undeterred. Japan's Toyoko Inn Targets New York
Japanese no-frills hotel operator Toyoko Inn is planning to expand into the U.S. market with a 640-room tower in the New York City borough of Queens, where it plans to offer tiny rooms for rates that are among the lowest in the city. Office Developers Revive Plans
With Europe's financial sector showing signs of stabilizing, developers have begun to dust off plans. A development boom, however, isn't likely anytime soon. It's a Low Point for High Point
Vornado Realty Trust is opting to forfeit a 2 million-square-foot furniture mart in High Point, N.C., to holders of its $191 million securitized mortgage. Boston Properties' Profit Falls, but Beats Its View
Boston Properties' second-quarter earnings fell, as did a key measure of profitability for the office-property owner, but both beat the company's guidance. Vornado, MGM Resorts in Deal
A Vornado-led partnership is paying MGM Resorts about $80 million for land connected to the Borgata Hotel Casino in Atlantic City. CMBS Market Rises From Ashes
The commercial-mortgage-backed-securities market, a leading source of financing in commercial property until the financial collapse of 2008, is showing signs of life. |
