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Volume 2 - Number 8 | May 2, 2005
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TOP STORY: New Bankruptcy Law To Impact Commercial Lease Holders
By Erika Morphy
The controversial Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, signed into law on April 20, has been perceived as primarily impacting consumers with its more stringent requirements for Chapter 7 filing. However, an analysis of the law by consultants in the real estate and bankruptcy industries say that the bill also holds ramifications for retailers and other commercial property leaseholders.
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Ten Minutes with…Merrill Lynch's Larry Washington
By Erika Morphy
When the Mortgage Bankers Association’s National Secondary Market Conference & Expo kicks off on May 1 in San Francisco, representatives from Merrill Lynch Credit Corp. will be out in full force. Executives will be glad-handing other industry representatives, talking about the division's sub-prime residential loans division, the warehouse financing it offers to residential lenders as well as its hedging products.
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Maguire's Newest Acquisitions Concern Some Observers
By Benjamin Mark Cole
It was a spectacular buyout of a large constellation of superior class A office buildings: Maguire Properties' $1.5-billion acquisition in January of the entire 10-building, 5-million sf portfolio of CommonWealth Partners, a Los Angeles-based private real estate investment trust. But the verdict on Wall Street, now that the dust has settled? Few cheers—and maybe even some scattered boos.
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Defeasance Projected to Double in 2005
By Erika Morphy
Last year some $5 billion to $6 billion in commercial mortgage loans in CMBS pools were defeased, according to industry statistics. And this year that number could possibly double, says senior Moody’s Investors Service analyst Sandra Ruffin, if the anecdotal evidence she currently sees in the market translates into measurable transactions.
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