Commercial Real Estate Finance

Posts Tagged ‘Tischman Speyer’

Last week, a report surfaced announcing the return of Mark Walsh (former head of Lehman Brothers global real estate group) to what’s left of Lehman Brothers to take over the crappy portfolio he once amassed during his tenure there. According to an article in the Wall Street Journal:

“Mr. Walsh and a team of former Lehman colleagues are setting up a new stand-alone business to manage the private-equity [real estate] portfolio. They stand to profit if the portfolio of distressed assets — for which they once paid top dollar — recovers only some of its value.”

On the surface, this is about as dumb as asking Dick Cheney the rules of firearm safety, Robert Hinckley Jr. how to assassinate a President, George W. Bush where to find Osama Bin Laden, or Bill Clinton to turn down the advances of unattractive women. Many a joke have been made thus far regarding the news, including outdated Brokeback Mountain jokes (i.e. “Lehman: Mark Walsh, I just can’t quit you” etc).
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The Week of May 22-29

- The 177-Store anchor Blue Denim chain filed for bankruptcy.

- HUD took action against 120 FHA -approved lenders earlier this week.

- Grubb & Ellis reported Wider Quarterly, and Yearly Losses.

- A new report came out detailing that Manhattan Sales have reached a 25 year low.

- FHA announced it is allowing first time home buyers to sue the much ballyhooed tax credit towards their down payment.

- Fitch Ratings has downgraded First Industrial.

- Giant real estate player Tischman Speyer has announced they will sell some California assets to pay down debt.

- News broke on Tuesday that two more banks have failed.

- Sequoia Equities announced the acquisition of a $75M multifamily luxury apartment complex in Orange County, CA.

- S&K Menswear will be closing all remaining stores in bankruptcy

- A Westin hotel developer accused a local councilman of extortion.

- Sunstone sold a 274-room Marriott.

- Paramount Realty bought a prime retail center.

- Freddie Mac could help out the commercial backed securities market with
K-Certificates.

- LandAmerica sold 6 of its subsidiaries last weekend.