Commercial Real Estate News

General Growth Retail Net Operating Income Falls

General Growth Properties Inc., which operates the Natick Collection in Natick and Faneuil Hall in Boston and filed for bankruptcy in April, on Tuesday reported a 2.1 percent decline in quarterly net operating income from its retail properties, citing weakness in the economy and falling occupancy rates.

Jones Lang LaSalle Posts Q2 Net Loss

Jones Lang LaSalle Inc., a real estate service company with a significant presence in the Bay State, has posted a second-quarter net loss from a year-earlier profit, after restructuring and impairment charges.

Filene’s Hole Owner Q2 FFO Falls

Vornado Realty Trust, co-owners and developers of the currently stalled Filene’s redevelopment project in downtown Boston, said second-quarter funds from operations fell 53 percent, due in part to charges related to its loss reserves and accounting adjustments.

Simon Property Group Hit With Q2 Loss

Despite the completion of two refinancings for $230 million, and the closing of an additional $400 million of mortgage financings for three regional malls, Simon Property Group Inc., which operates malls across the Bay State, has reported a second-quarter unaudited net loss of $14.1 million, compared to net income of $114.4 million in the same period a year ago.

Commercial Landlords Turn To Plug-And-Play

Landlords with blocks of vacant space are increasingly dangling a new carrot in front of smaller tenants who are leery of the costs and complications of moving in a down market: they’re speculatively improving their vacancies and marketing the space to tenants as pre-built, plug-and-play opportunities.

CWCapital Refinances Church Park With $130M

CWCapital LLC, a financer to the multifamily and health care real estate industries and subsidiary of CW Financial Services, recently provided $130 million in financing for the refinance of Church Park, a 508-unit mixed-use building located at 221 Massachusetts Ave. in Boston.

Liberty Wharf Breaks Ground

Boston Mayor Thomas Menino joined developers for a groundbreaking ceremony on a soggy day at the site of the future Liberty Wharf development on South Boston’s waterfront. B&T photographers were there. Click here for exclusive photos.

CBRE Has Q2 Net Loss

CB Richard Ellis Group Inc., the world’s largest commercial real estate service company by revenue, posted a second-quarter net loss on Wednesday compared with a year-ago profit, as leasing and sales declined sharply.

Avalon Bay FFO Beats Expectations

AvalonBay Communities Inc., an owner and builder of apartments with a strong presence in the Bay State, posted lower second-quarter funds from operations on Wednesday, as the nation’s weak jobs market weighs on demand for apartments.

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