®

126-Store Crabtree & Evelyn Chain Files Bankruptcy
Woodstock, CT-based Crabtree & Evelyn, purveyor of fine bath and body products, filed Chapter 11 on July 1, 2009. A global company, Crabtree said its affiliates in Canada, Europe, Hong Kong, Malaysia, Singapore, and Australia were not included in...

REITs Move Off Bottom, Can Commercial Real Estate Be Far Behind?
Data from the National Association of Real Estate Investment Trusts (NAREIT) clearly show that investors have smiled on REITs so far this year. There were 45 secondary equity offerings in the REIT industry in 2009 through May 31, which raised $14.2 billion...

Bank Watch (June 28-July 4): Citizens Republic Needing To Raise Capital
Citizens Republic Bancorp Inc. is exploring several initiatives to bolster capital and strengthen its balance sheet. Citizens based in Flint, MI, has been hurt by deteriorating economic conditions, plant and dealer closings and bankruptcy filings in the...

Lease Cancellations (June 18-July 4): MagnaChip Dropping Five U.S. Locations
Crescent Resources, a land management and real estate development company based in Charlotte, NC, with interests in 10 states in the Southeast and Southwest, and certain of its subsidiaries filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court...

Closures & Layoffs (June 28-July 4): Imperial Shutting Down Just-Rite Supply
Imperial Industries Inc. has terminated and discontinued all operations of its Just-Rite Supply Inc. distribution facilities. Based in Pompano Beach, FL, Just-Rite will be sold and liquidated. Just-Rite distribution facilities typically consist of...

Opus Opts to Liquidate Opus East; Put Opus West into Chapter 11
The Opus Group today announced that two more of its independent operating companies will join Opus South in bankruptcy. Opus East, LLC and certain related subsidiaries filed for Chapter 7 liquidation, while Opus West plans to file for Chapter 11 reorganization...

Low Point on High Streets: Elite Retail Corridors Feeling Effects of Recession
During the first half of this recession, retail buildings housing luxury retailers that line the world's "prime fashion corridors" were often touted as "immune" to the plummeting sales per square foot trends that mainstream retailers were suffering from...

Affiliate of Neverland Owner Colony Capital Files for IPO to Buy Troubled Assets
Colony Financial Inc., a newly formed subsidiary of Century City, CA-based real estate investment company Colony Capital, LLC, is launching an initial public offering to buy distressed commercial real estate debt and other assets, according to a June...

BofA Tower Receives $1.3 Billion Loan - from BofA
Bank of America and The Durst Organization have secured $1.275 billion in financing for The Bank of America Tower at One Bryant Park in Manhattan and is said to be the largest single-asset real estate loan to close in the United States since the markets...

NRG Texas, Affiliate Take 234,000 SF in Houston
NRG Texas, a wholesale power generation company, and Reliant Energy, its retail energy affiliate, leased 234,000 square feet at Pavilions Tower in Houston’s central business district. The long-term deal includes office space on floors one through 10....