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General Growth Properties, Inc. (GGP) has filed for Chapter 11 federal bankruptcy protection to reorganize, making it the largest real estate bankruptcy in U.S. history.
One April 6, 2009 (just 10 days ago), we highlighted the fate of GGP. We posed the question: How close does, […]

What appeared to be the worst possible case a few weeks or months ago, for many commercial real estate developers and owners, now appears to be the most likely and negative outcome; vacancy rates are rising sharply with effective rents falling, similarly, with financing options dwindling. Some predict 2009 to be the worst year since ‘91-’92. […]

As we suggested in this Blog on November 7, 2008, democrats are once again planning to reintroduce legislation that would allow bankruptcy judges to modify the terms of troubled borrowers’ loans — a move that industry opponents say will lead to higher interest rates and down payments for all borrowers.
Rep. Brad Miller, D-N.C., said he […]

LandAmerica’s future is now, officially, in doubt (again). Going from bad to worse ….
11.26.08 >> Title insurer LandAmerica Financial Group Inc. said Wednesday it will file for bankruptcy protection, while competitor Fidelity National Financial Inc. said it will acquire three of LandAmerica’s subsidiaries.
The bankruptcy filing of LandAmerica’s holding company and subsidiary LandAmerica 1031 Exchange […]

There is a proposal on the table that would allow bankruptcy judges to modify loans. You read it right ….
This proposal was actually taken out of the Housing and Economic Recovery Act (HERA) passed in the summer 2008, BUT this particular provision was a deal-breaker for President Bush.
Take note, though, with the election results of November 4th, our focus […]