Property Types Retail
Chicago High Rise Moves Ahead with Kennedy Funding Loan
June 24, 2008

The Catalyst, a high rise condo going up in Chicago's West Loop has gotten an $8.4 million loan from Kennedy Funding Inc., the lender reported. The Hackensack-based company recently closed that deal with Catalyst 123 L.L.C.'s Gary Rosenberg, a well-known Chicago developer who founded Urban R2, the site purchaser. Rosenberg contracted with renowned architect Lucien Lagrange to create a building with dramatic angles and distinctive colorful exterior. Once built, Catalyst will offer 217 residential units from the fifth to the 21st level, a three-level, enclosed parking garage with 225 spaces, and more than 15,000 sq. ft. of ground-level retail space. The 22nd floor will house a patio, party room, meeting room, exercise facility and more amenities.

 
Recent Retail Headlines
Bankrupt Filene's Basement Assets Snapped Up by Men's Wearhouse in $67M Auction
June 09, 2009
Clothing retailer Men's Wearhouse has emerged victorious from a feverish nine-hour auction of assets belonging to off-price chain Filene's Basement, which fell victim to the retail market's downward spiral and filed for Chapter 11 bankruptcy protection in early May, just two weeks after its purchase by Buxbaum Group affiliate FB Acquisition II. Acting through its affiliate, K&G Acquisition Corp., Men's Wearhouse put forth the winning bid of $67 million for 17 to 20 of Filene's store leases, as well as the leases on the company's Massachusetts corporate headquarters and distribution center, its Maryland storage facility and-- possibly most important--the Filene's Basement trade name.
Economic Update - Starwood Eyes Distressed Sector with $500M Fund
June 08, 2009
Yet another deep-pocketed real estate entity has jumped into the grave-dancing game—only please, don’t call it that, but rather strategic investment in distressed properties. The player is a newly formed investment company called Starwood Property Trust Inc., a creation of Starwood mogul Barry Sternlicht, which filed with the Securities and Exchange Commission late last week for a public offering that aims to raise half a billion dollars to do the distressed-property boogie. It will invest in not only physical properties, but mortgages and mortgage-backed securities.
Economic Update - Retailers See May Malaise
June 05, 2009
May comparable-store sales numbers are filtering down from various retailers, and the results aren't inspiring confidence in the prospects for recovered consumer spending. Actually, most analysts expected average retail same-store sales to decline in May 2009 when compared with May 2008, but the trouble was they declined more than expected.
 
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