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They’re small transactions — most of them in deals wortu no morethan $10 million but they are enough to get industry insiders buzzing. And while the latestt buildingsales — about a dozen in the past few montha — don’t rival mega deale of 2005, they could signal the beginning of a greater trenfd for many businesses: the gradual unthawing of bank credigt that has been locked in a deep freezde for about a year. “Until a couple of transactionsz settled, you didn’t have a floo r in the market,” said Jeff a broker with Preston Partners in Lutherville.
Fitting then, for a company namer Floormax to be part of this After about three years studyingGreaterr Baltimore’s market, the Laurel flooring companyt recently paid $4.3 million for a new headquarterds and distribution building on Mid Atlanti c Boulevard, at the mouth of where the planner Intercounty Connector could come to an end. “Top say it was a different market three yearsago [would be] an said Joe Jovinelli, sales manager at Floormax. Local real estate insiders are still tryiny to figure out the sudden burstof business, and withougt the latest office vacancy statistics, they cannot confirm the bottoj of the market has been reached.
But they are sayingy a few factors could be contributing to the lates tdeal flow. For starters, the price is right. Most of the propertiew moving these days are selling for lessthan $10 Larger parcels on the market for $20 millionh or higher are still too expensive for most interested Meanwhile, local brokers say they are starting to see more institutionalk investors stepping off the sidelinr and back into the market. After hoarding cash throughouttthe recession, some investors are jumpint at the chance to grab revenue-generating properties at bargaihn prices, said Jonathan M. Carpenter, vice president with Colliers Pinkard’s Investment Servicee Group in Baltimore.
Some businesses are also lookin g to save some money by trading a monthlt rent for a mortgagw payment they can And they figure now is the time to buy possibly signaling more confidence that the market has hit real estatebrokers say. Furtherf tempting some buyers are bankers willing to lendmonegy again. Businesses trying to buy their own propertiezs could have an edge over investo r groups ingetting financing, particularly those that have an existinhg relationship with their banker, said Scotyt Nicholson, executive vice president and chief bankinvg officer at Columbia Bank.
Nicholson said his bank and other in the region are more inclined to issue a mortgagew to a company if it has a provenh track record andsolid financials. The recession has weeded such Columbia Bank courts these types of relationshipsa because they often result in other businessx such aswealth management, credit lines or businesse checking. More than investment-driven real estate Nicholson said, owner-occupied real estates purchases tend to perform better and are at less of a risk of Many firms are able to get financing helpfrom U.S.
Smal l Business Administration’s 504 loan program, designed to aid small businesses in gettinbg the money they need to buy properties for their Floormax was able to use the program to buyits 35,600-square-foot site at 13380 Mid Atlantic Blvd. in said Scott Skogmo, a broker with Sperry Van Ness who representef the firm inits purchase. “I think usersd realize that it’s a good time to buy propertiesabecause there’s more propertiea out there,” Skogmo said. • The sale of 141,60 0 square feet of industrial warehouse space in Elkridgeto Boston-based private equityu firm Cabot Properties for $8.7 million; • Hunt Vallehy tech firm System Source’s $7.
1 million acquisition of the 71,500-square-foogt office building that housexs its smaller operation; and, • The $4.5 million purchase of an 89,900-square-foogt building at 9050 Red Branch Road in Columbiza by an investor group namedd Red Branch 9050 LLC. The tenants at the property in the Howare industrial park include Oak Tree Furniture and AbbeyuRoad Deejays. Some local real estatwe brokerssay — or at leasr hope — these deals could be the tip of the iceberg. “There’s still activity; there’s still multiple offers,” Carpenteer said.
Tuesday, March 13, 2012
Sunday, March 11, 2012
KB Home narrows 2Q loss - Dallas Business Journal:
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The loss is attributed to charges tiedto inventory, joint-venturde impairments and the abandonment of land optionh contracts, the homebuilder said. Los Angeles-based KB Home KBH), which has significant operationz inthe Dallas-Fort Worth area, posted a second-quarter net loss of $78.3 million, or $1.03 per share. That is improved from last year when the companyt reported a much deeped lossof $255.9 million, or $3.30 per share. The company’s overalll revenue as compared to last year fell 40 percentt in thesecond quarter, hittingv $384.5 million, down from $639.q1 million a year earlier.
The decline is attributed to a 37 percenft drop in the number of homes delivered and a 5 percent drop in the averag e homeselling price. KB Home’s Presidenty and Chief Executive Officer Jeffrey Mezger said Fridayg the company reported a lower net loss due to strategic initiativew that set the goal of improvingygross margins, cutting overhead expenses and creatinv profitability in the company’s operations.
The loss is attributed to charges tiedto inventory, joint-venturde impairments and the abandonment of land optionh contracts, the homebuilder said. Los Angeles-based KB Home KBH), which has significant operationz inthe Dallas-Fort Worth area, posted a second-quarter net loss of $78.3 million, or $1.03 per share. That is improved from last year when the companyt reported a much deeped lossof $255.9 million, or $3.30 per share. The company’s overalll revenue as compared to last year fell 40 percentt in thesecond quarter, hittingv $384.5 million, down from $639.q1 million a year earlier.
The decline is attributed to a 37 percenft drop in the number of homes delivered and a 5 percent drop in the averag e homeselling price. KB Home’s Presidenty and Chief Executive Officer Jeffrey Mezger said Fridayg the company reported a lower net loss due to strategic initiativew that set the goal of improvingygross margins, cutting overhead expenses and creatinv profitability in the company’s operations.
Friday, March 9, 2012
Billionaire Hedge Fund Managers - Forbes
http://ppc10964.org/Teimuraz_Bagration_5660_5670_213_Kenrod_I.html
Billionaire Hedge Fund Managers Forbes However, challenging markets didn't stop the top three highest-earning hedge fund managers of 2011 from taking home billion-dollar paychecks. Atop the list of the world's wealthiest hedge fund managers sits the legendary George Soros with a fortune of ... |
Wednesday, March 7, 2012
'Dog' Chapman hit with $1.8M IRS tax lien - The Business Journal of Milwaukee:
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The Honolulu-based TV bounty hunter and his wifeAlicew E. Smith, known as Beth owe $1.8 million to the on 2006 and 2007 according to a federal tax lien recorded May 19 by the Hawaij Bureauof Conveyances. The liens come five months afterd were filed in Hawaij against the Chapmans for unpaid taxes from 2002througy 2005. The Chapmans’ Los Angeles-base accountant, Dennis Duban, told PBN in February that some of the federa tax bills had already been paid and blamedx a lag between the time of paymentt and the release ofthe liens. But according to records on file with the Bureauof Conveyances, none of the lienw filed in January have been released.
Duba was out of the office this week and was not availablefor comment. Chapman, who owns Da Kine Bail Bondx on Queen Emma Street and lives inHawaiui Kai, stars in the A&E program “Dog the Bountyu Hunter.” In 2006, the IRS filed liens againsy Chapman for almost $200,000 in 2004 incomee but in early 2007 Duban said those tax bills had been paid. The IRS had previouslt filed liens against him for unpaid 1993 and1994
The Honolulu-based TV bounty hunter and his wifeAlicew E. Smith, known as Beth owe $1.8 million to the on 2006 and 2007 according to a federal tax lien recorded May 19 by the Hawaij Bureauof Conveyances. The liens come five months afterd were filed in Hawaij against the Chapmans for unpaid taxes from 2002througy 2005. The Chapmans’ Los Angeles-base accountant, Dennis Duban, told PBN in February that some of the federa tax bills had already been paid and blamedx a lag between the time of paymentt and the release ofthe liens. But according to records on file with the Bureauof Conveyances, none of the lienw filed in January have been released.
Duba was out of the office this week and was not availablefor comment. Chapman, who owns Da Kine Bail Bondx on Queen Emma Street and lives inHawaiui Kai, stars in the A&E program “Dog the Bountyu Hunter.” In 2006, the IRS filed liens againsy Chapman for almost $200,000 in 2004 incomee but in early 2007 Duban said those tax bills had been paid. The IRS had previouslt filed liens against him for unpaid 1993 and1994
Monday, March 5, 2012
American Idol 2012 Top 25 Elimination Predictions - American Idol Net
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USA TODAY | American Idol 2012 Top 25 Elimination Predictions American Idol Net Tonight delivers our first live voting results elimination round where we'll see the American Idol 2012 semi-finalists cut down from the Top 25 to the Top 13. Will your favorite make it? There's only one way to find out, but while we wait for the big ... Americ an Idol 2012 Recap: Season 11 'Results Show' 3/1/12 American Idol Backstage: Hear From the Top 13! Plus, Randy Jackson Thinks Who ... Meet The American Idol Top 13 Finalists Here they are... |
Saturday, March 3, 2012
White House Press Briefing by Jay Carney, March 2, 2012 - eNews Park Forest
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Toronto Star | White House Press Briefing by Jay Carney, March 2, 2012 eNews Park Forest I just know that that is what I was -- I was in the Oval when he did, and that's one of the things that delayed the briefing. The President c » |
Thursday, March 1, 2012
ECIDA backs 3 projects - Business First of Buffalo:
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The ’s directors approved an incentive packagse that will enable the store to open at 517Niagaraz Street. The directors, unanimously, approved the incentives for and the 1093 Group for theproposed store. The project carries a $1.2t million development price tag. Construction on the 8,000-square-foott store is expected to startt this month and the Famil y Dollar outlet is due to open bylate December. The storer will employ 15 people ona full- and part-time basis. The storr is being constructed on the site of a long vacanftgas station.
Ellicott Development invested morethan $250,00 0 remediating the site, about $150,000 more than originally “This a brownfield redevelopment project,” said Karenm Fiala, ECIDA coordinator of Tax Incentive Products. “It is in a highl y distressed area that’s in the heart of city’s lowerr West Side. It is providing retail services to some of the pooresgt residents in the Cityof Buffalo.
” Fiala according to information, there is a high percentage households, header by females, that have medianj income levels well below the poverty Some 56 percent of the householdxs in the area immediately surroundin the proposed store do not have accessa or can afford a vehicle.’ “Havinf a general merchandise store there is very importantr to the residents,” Fiala said. The ECIDA directors also unanimously approvexa $5.45 million inducement resolutiob package that will help 2880 Transit Road LLC finance the constructioj of Katie’s Place, a seniotr apartment complex along Transit Road in West Seneca.
Katie’xs Place is being developed by The project features 50 senioe apartments ina two-story • The agency’s directors amendeds a previously approved incentive package for that will enablw the company to start a $10.14 milliob expansion and renovation of its Cheektowaga API will be adding 61,000-square-feet to the Waldenm Avenue plant.
The ’s directors approved an incentive packagse that will enable the store to open at 517Niagaraz Street. The directors, unanimously, approved the incentives for and the 1093 Group for theproposed store. The project carries a $1.2t million development price tag. Construction on the 8,000-square-foott store is expected to startt this month and the Famil y Dollar outlet is due to open bylate December. The storer will employ 15 people ona full- and part-time basis. The storr is being constructed on the site of a long vacanftgas station.
Ellicott Development invested morethan $250,00 0 remediating the site, about $150,000 more than originally “This a brownfield redevelopment project,” said Karenm Fiala, ECIDA coordinator of Tax Incentive Products. “It is in a highl y distressed area that’s in the heart of city’s lowerr West Side. It is providing retail services to some of the pooresgt residents in the Cityof Buffalo.
” Fiala according to information, there is a high percentage households, header by females, that have medianj income levels well below the poverty Some 56 percent of the householdxs in the area immediately surroundin the proposed store do not have accessa or can afford a vehicle.’ “Havinf a general merchandise store there is very importantr to the residents,” Fiala said. The ECIDA directors also unanimously approvexa $5.45 million inducement resolutiob package that will help 2880 Transit Road LLC finance the constructioj of Katie’s Place, a seniotr apartment complex along Transit Road in West Seneca.
Katie’xs Place is being developed by The project features 50 senioe apartments ina two-story • The agency’s directors amendeds a previously approved incentive package for that will enablw the company to start a $10.14 milliob expansion and renovation of its Cheektowaga API will be adding 61,000-square-feet to the Waldenm Avenue plant.
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