Real Insight. Real Estate.

Posts Tagged ‘Citi’

Happy New Year!  Llenrock’s New Year’s Resolution is to stay away from deals in 2010 that were as catastrophic as these turned out to be.  What’s your new year’s resolution?

5. Iceland & Ireland Lenders - Investing in Iceland and Ireland: Two years ago, these plucky little island nations were the toast of Europe. Now they’re just toast, undone by continent-size bank debts and, in Ireland’s case, a real estate bubble to boot. Good news for travelers: they’re a lot cheaper to visit now. Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!

Two years ago, when Llenrock Group was founded, we saw an opportunity to step into a niche role as a small investment bank that focused exclusively on small to mid-size commercial real estate transactions.  Shortly after we started, markets fell off a cliff.  As a result, the need for specialized I-Banks has become more obvious, and a lot of new players are jumping on the opportunity.  Crain’s New York Business published an article yesterday highlighting this opportunity and the I-Banks that are ramping up their teams to give the big dogs a run for their money.  What is the focus of these I-Banks and what differentiates them from the juggernauts on Wall Street?

Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!

The New York State Supreme Court Appellate Division ruled last Friday that Citigroup must maintain the “status quo” of the Destiny USA New York shopping mall project.  Basically, that means that Citigroup will not yet be allowed to cease lending to the construction of the mall being built by developer Robert Congel.  While it is still possible for Citi to get out of the remainder of the loan commitment (the lower court still has to have a trial on the “success” of the project), the ruling sets a precedent that will make it increasingly more difficult for lenders to renege on their construction financing commitments.
Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!

The 10 Biggest Bailout Recipients -

If you enjoyed this post, make sure you subscribe to my RSS feed!

Now he tells us!

If you’re reading this, I can’t imagine you’re exactly blown away by Mr. Ross’s ‘vision’.  We in the commercial real estate world have been living the slow motion train wreck for many, many months.  Ross’s comments are especially interesting, however, when you consider he participated in the purchase of $0.5 Billion of real estate debt on October 6th.  Perhaps it was the $1.39 Billion loan from the FDIC that made him more comfortable with the asset class.

Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!

The Week of October 10-16

- There’s two kinds of small banks: The kind that didn’t make bad loans, and the kind that won’t be around much longer.

- Banks that want to grow apparently won’t be looking to commercial real estate.

- A Northeast HUB for industrial space, Northern New Jersey, has seen sublease space hit a six year high.

- $55 billion in mortgage servicing writedowns has hit the 4 biggest banks, including JP Morgan.

- Capmark may finally file for bankruptcy.
Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!

The Week of August 8-14

- Bernanke, or not to Bernanke? That is the question.

Where will funds and REITs turn to with little available private capital? The public, of course.

- Freddie Mac reported a quarterly profit.

- The largest deal of 2009 in the Pittsburgh region went down this week to the tune of $90M.

- S&P lowered its ratings for 19 different classes of Chase CMBS. Read the rest of this entry »

If you enjoyed this post, make sure you subscribe to my RSS feed!