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Volume 3 - Number 11 | June 12, 2006
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Top Story: Orlando Offers $100M to Burnham Institute
By Alex Finkelstein
Officials of the Burnham Institute for Medical Research in La Jolla, CA plan to visit Orlando, FL this month to view a 50-acre site at Lake Nona where the city would like the 30-year-old non-profit medical research institute to relocate. To interest the Burnham delegation, elected city and county officials, developers and local philanthropic sources are dangling an economic incentive package expected to top $100 million.
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B Piece Buyers Increase Pressure on CMBS
By Erika Morphy
B piece buyers have gotten increasingly aggressive with the underwriting they will accept and the loans they want kicked out of the pools. As a result, industry experts say, B piece buyers are getting spreads historically seen at the mortgage loan level.
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No Breeze Closing Daytona Beach Property
By Alex Finkelstein
The closing on the $15.7 million sale of the 45-year-old Diplomatic Towers apartments in Daytona Beach, FL was anything but routine. Todd Cohen, director of the Orlando, FL office of Primary Capital Advisors, says the financial component of the deal took 120 days and posed many challenges, especially finding the right lender and equity partner.
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Insider: Foley & Lardner’s Terence Delahunty
By Alex Finkelstein
Terence J. Delahunty, a partner in the Orlando, FL law offices of Foley & Lardner LP, talks exclusively to DEJ on the mushrooming tenant in common industry. The TIC industry should raise close to $4 billion in equity this year. Projections suggest that figure could rise to $7 billion by 2007.
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