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LoopNews: Your Commercial Real Estate Newsletter
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Top Commercial Real Estate News
November 18, 2009 - November 24, 2009
Provided by Commercial Real Estate Direct

JLL Sees Sales Up in '10, Wary of Gov't Policy
Commercial property investment-sales volume will increase 30 to 50 percent next year from 2009's projected $43 billion to $45 billion, according to Jones Lang LaSalle. But the real estate services firm also expects property fundamentals for the most part to continue weakening through 2010. And it's concerned that government policies could thwart any recovery. Read Full Story


Moody's: Property Cash Flows to Fall 20%
Property values in the coming months will likely drop 45 percent to 55 percent from their peaks in 2007, while cash flows will fall 19.6 percent from their pre-recession levels, according to Moody's Investors Service. Property values in the third quarter were down 42.9 percent from their high in October 2007, according to the Moody's Real Commercial Property Price Indices. Read Full Story

$1.3Bln Expansion of Baltimore Port Planned
A venture led by Highstar Capital, an infrastructure investment firm, agreed to provide up to $1.3 billion to expand the Port of Baltimore, according to a report in the Wall Street Journal. Ports America Chesapeake, which is leasing the port's cargo terminal area, has committed $100 million for the first part of its project, which includes deepening the terminal's water depth by 11 percent to 50 feet. Read Full Story

Bank Drops Suit; Renegotiates Foreclosure
PNC Bank has dropped its foreclosure suit against the owner of a South Florida office park and instead has modified the loan against it. The bank had filed its suit against a group calling itself Flamingo Commons LLC, which owns the seven-building complex at 4351 S.W. 124th Ave. in Davie, FL. Read Full Story

DDR's Success Prompts More Issues Sans TALF
The solid investor demand for bonds - even without financing from the Term Asset-Backed Securities Loan Facility, or TALF - from a $400 million CMBS issue involving collateral owned by Developers Diversified Realty is prompting others to plan issues that aren't dependent on government largesse. Inland Western Retail Real Estate Trust Inc., which has been scrambling to address the $1.9 billion debt maturities, is said to be working to structure what could be a $600 million CMBS transaction. Read Full Story

Retail Project Planned for Dallas
Construction is slated to start next week on Timbercreek Crossing, a proposed retail center on 40 acres in northeast Dallas. Trammell Crow Co. is developing the project at Northwest Highway and Skillman Street. A Walmart and Sam's Club with a combined 320,000 square feet are planned for the site, along with a 104,000-sf JCPenney. Read Full Story

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