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Volume 3 - Number 23 | November 22, 2005
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TOP STORY: In a State Where Everything’s Big, So is the Upside
By Sule Aygoren Carranza
Dallas—Officially marking its entrance into the market, the Bascom Group LLC has closed its first deals in Texas. The Irvine, CA-based firm opened an office here in August with plans to invest $500 million over the next three years, but just recently purchased its first properties—three foreclosed communities totaling 1,114 units in Dallas.
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INSIDER: CapitalSource’s Michael C. Szwajkowski
By Sule Aygoren Carranza
Beginning Jan. 1, 2006, five-year-old commercial finance company CapitalSource Inc. will be taxed as a real estate investment trust. Focused on the businesses of corporate finance, healthcare and specialty finance, the Chevy Chase, MD-based company offers asset-based, senior, cash flow and mezzanine financing to small and mid-sized borrowers, although its executives expect that client pool to expand to larger firms once the REIT status kicks in.
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Study Shows Affordable Housing Projects May Boost PA Economy by $1.3B
By Sule Aygoren Carranza
Philadelphia—Pennsylvania’s economy will receive a $1.3-billion boost when the Philadelphia Housing Authority completes its next round of proposed affordable housing development, according to a new economic impact study. The $1.3 billion includes $397 million in earnings and about 11,000 jobs statewide, as well as $788 million that will be added to the city’s economy.
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