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	Top Stories for the Week of December 22, 2008	Print Full Issue
	Click Here For Regional Coverage Stay Alert and Stay Alive NEW YORK CITY-With the recession now officially acknowledged, experts say the key to survival in the downturn is keeping an eye out for opportunities. Fed Trims Key Rate to Zero WASHINGTON, DC-In the last 18 months the Federal Reserve Bank has effectively cut the Federal Funds rate by some 5%--to little economic avail. General Growth Gets $900-Million Loan Extension CHICAGO-The mall REIT is given nearly two months of breathing room on its $900-million loan on two Las Vegas malls. AvalonBay Abandoning Projects, Reducing Staff ALEXANDRIA, VA-The apartment REIT says market conditions 'do not support the development and construction of certain new apartment communities previously in planning.' Report: Madoff Schemed NYC Developers NEW YORK CITY-Bernard Madoff had close ties with the commercial real estate here, and some are worried that projects won’t get completed as a result. ExxonMobil Plans $1B In Refinery Upgrades BAYTOWN, TX-The energy giant plans to modify units at its local refinery and those in Baton Rouge, LA and Antwerp, Belgium. HUD Takes Bigger Role Under Obama Administration WASHINGTON, DC-President-elect Obama would like to see his Secretarial nominee Shaun Donovan expand HUD’s influence in policymaking. Lend Lease Names McCann to CEO Position SYDNEY, AUSTRALIA-Former CEO Greg Clarke had said he would stay for up to seven years. Steve McCann takes over next year, though it’s not clear where Clarke goes. DDR Drops Plans for $890M Joint Venture CLEVELAND-As Centro and General Growth scramble for financing, this locally based REIT is also watching its stock drop and pulling back on large plans. Banks Expected To Extend $2.5B To Save Centro MELBOURNE, AUSTRALIA-The retail giant is drowning in debt, but has had more supporters among its lenders than Chicago-based General Growth. Print Top Stories

Regional Coverage
Northeast     Print Full Region • Obama Taps Donovan for HUD • NAR: CRE Lending Is at a Virual Standstill • Construction Industry: 'Heightened Pessimism' • Arbiters Say WTC Work Must Proceed • Report: Crisis Can Add Four Million Square Feet to DC • Three PREIT Malls Secure $173M in Financing • DC Pursues More Affordable Housing with Four Developers • More Store Closings In Line for Rite Aid • 10-Year, $300M Development Moves Forward • Council Hikes Hotel, Property Taxes • $75M Takes Eight-Asset Portfolio • $1B Hospital Project Starts Construction • Wells Fargo Renews 530 Fifth Office Space • First Potomac, AEW Form $42M JV with $100M Goal • Report: PA Lags Behind in Green Building • C&W To Market Midtown Biotech Park • Cedar Shopping Centers Gets $300M Credit Facility • 240,000-SF Mall Set for Makeover • KTR Gets $60M Loan for Warehouses	Southwest     Print Full Region • Pier 1 Imports Looking for Rent Reductions • Experian Renews Its 272,700 Square Feet • Expansion Leases Signed At 364,533-SF Tower • Cole Fund Launches $2.5B Offering • Company Sells Arena for $52M, Builds More • Third Time's the Charm on Fountain Lakes ReFi • SoCal Investor Snags 258 Acres
Midwest     Print Full Region • More Cuts, Resignations at First Industrial • Midwest Warehouse Takes 350,000 SF Short Term • Acresso Subleases 51,758 SF For New HQ • Enablon To House North American HQ in Tower • Citigroup Could Deep-Six GGP $900M Loan Refi • Lions Curse Extends to Dome, Bids Set Again	West Coast     Print Full Region • Google Buys 4 Buildings, Subletting 4 Others • Next Century Plans $2B of Mixed Uses at Hotel Site • City Delays Authorizing $266M New City Hall Deal • Vestas Working on 500,000-SF Downtown HQ Deal • Opus West Delivering 1M SF of Spec Industrial • DJM Capital Gains OK for Mixed-Use Project • Grubb & Ellis Lands 500,000-SF Property Assignment • Tenants Fill 329,000 SF in Leases Totaling $75M • MGM Handing Treasure Island to Ruffin for $775M
Southeast     Print Full Region • Ruby Tuesday Closing 70 Locations • Grubb & Ellis Releases Lampley • Newell Rubbermaid Plans Plant Closings • Port Revival Coming from 63-Acre Lease • Place Plans More Student Housing • IHG Appoints New Americas President
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