Sierra LaMar search remains fruitless - investigators consider new strategies - San Jose Mercury News

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Sierra LaMar search remains fruitless - investigators consider new strategies San Jose Mercury News The day after more than 100 members of Bay Area search-and-rescue teams scoured a 12-mile radius area but found no clues in the disappearance of Sierra LaMar, investigators on Sunday poured through existing evidence and the many interviews done by ... < p size="-1">Sierra Lamar Search Expands, But is a 12-Mile Radius Far Enough? Gather.com Search for Missing Sierra LaMar Intensifies Saturday NBC Bay Area Huge search for missing Morgan Hill girl yields no new clues Alameda Times-Star UPI.com -msnbc.com (blog) -Patch.com  »

TEXT-S&P raises Elizabeth Arden to 'BB-', outlook is stable - Reuters

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Wednesday, March 21, 2012

First green project in foreclosure - Washington Business Journal:

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million construction mortgage. The 33,000-square-foot Vive Verde, also knowjn as EcoCentre, is the first South Florida projec seeking Leadership in Energy and Environmental Design certification fromthe U.S. Green Building Counci to face foreclosure. In an Romano said the extra cost ofthe building’z green features is not the reason it fell into “The fact that the building is a greebn building is not why the buildinyg financially is in Romano said. “It has to do with a failurer to properly and adequately financially plan the building inthe beginning, and I blame myselr for that.
” Despite a cost-conscious office-leasing environment, the concept of green offic buildings is here to stay, accordinfg to Christian Lee, vice chairman of in and Vive Verde’s foreclosure is just one entry on a long list of commerciakl foreclosures that will happen regardless of whethere a building is He noted that the more importan t factor for Romano’s buildinyg will be office demand in Lake “Building green adds to the cost [of a but in the long run, any green building will be more attractivs to an investor because it’s already he said. “Otherwise, new investors woule be figuring in the cost to make it because all commercial buildings aregoing green.
” Rob Hink, a LEED-accredited consultantf with the Weston-based , “I don’t think this one foreclosure on a greebn building is any comment on the LEED systejm or green buildings, I think it’zs just the economy,” he said. “I’nm surprised because it’s a leased-up building.” He added that Romano’s large inner courtyard could have been downsized to fit more rentak space inthe building, and yet still have retainef many of the environmental benefits. On May 26, Fort Lee, N.J.
-based filed the foreclosure action againstg ViveVerde North, managing member Romano and othetr parties associated with the project, according to Palm Beacn County Circuit Court records. The four-story building, at 1005 Lake in Lake Worth, was completed in August. Its offics space is about 70 perceny leased, and it has two empty retail spaces, Romano said. The green featurea of the building work exactly ashe hoped, he A rooftop garden catches rainwater, while condensation is collectexd from the air conditioner for watering plantd and ponds and flushing toilets. Grey wate r is recycled in the water features of the The use of skylights and windows cuts down onelectricity usage.
Many fixtures were made with recyclerd materials. A sign outside advertises it asa “liviny building.” Inside, goldfish swim througjh a pond and a statue of a Native Americajn bathes in the sunlight in the garden. Despite the energyt and water savings, Vive Verde North has not made any payments onthe $6.9 millioh mortgage this year, said John Hart, an attorney with Carltobn Fields in West Palm Beach who represent s Meecorp in the lawsuit. “My client would like to get but ifthat doesn’t come to they are prepared to take title to the property and prepare to get paid that way, too,” Hart Vive Verde North has a $4 millionn second mortgage with Williamsville, N.Y.
-based , whicu is named in Meecorp’s Romano said his company got behinds on mortgage payments becausse it ran out of money and could not get the loan refinancex by a traditional bank. “Ity is making me physically ill that thisis happening,” he “I will continue to work nighrt and day to make this all work These days, I’m losing a lot of sleep over He said his plan for the building was flawed from the beginning because he wrot an incorrect financial plan. He said the construction for his first development projecg came in on budget and its utilitiesoperate efficiently.
Romano said the gree n features of Vive Verde attracted some although several of them would have signed leases in the buildinghwithout them. He is confident the building will earn LEED but said that not openinv with that designation has not hurtthe project. Romani was aiming for gold-level certification from the U.S. Greehn Building Council.

Monday, March 19, 2012

Hard work leads to success for Shlesinger - Houston Business Journal:

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Shlesinger and his partner, Sam Holmes, who head up CB Richard Ellis Inc.’s Tenant Representation Group in were involved in leasing and salesa transactions with an aggregate value in excessof $1 billiom in 2007 and named the top offic tenant brokers by the . That same Shlesinger was the recipient of the firs GaryBeban Award, given to a broker exhibiting “thee best teamwork worldwide.” Before joining Shlesinger worked at real estate firm Cushmam & Wakefield Inc. and Insignia/ESh Inc.
His most significant deal to date involved the relocation of to the Concoursr Corporate Center in2006 — a 411,000-square-foot, $144 million After 25 years in commercial real estate, he said he still enjoyz the constant change inherent to the “Every day you get to both meet someone different and do somethintg different,” Shlesinger said. A sixth-generationn Atlantan, Shlesinger obtained a bachelor’s degree from , and earned an MBA from The . Shlesingerf is also a board member of Central Atlanta Progreses andthe .

Saturday, March 17, 2012

Freddie Mac allows financing of 125% of home value - Denver Business Journal:

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Fannie Mae also announced a similar change. The moves come as the Obamza administration raised themaximum loan-to-value ratio from 105 percent. As a resulft of this change, qualified borrowers will be able toobtain McLean-based Freddie Mac’s (NYSE:FRE) Relief Refinance Mortgages with loan amounta up to 125 percent of the current valu e of their property. The higherr LTV ratio is expected to givehomeownerws – especially those in markets that have experienced sharp declines in home values -- more options to refinance into mortgages with termw that better position them for long-terj homeownership, the company said.
“Thizs is a change that will put affordablew refinancing opportunities within reach of performing borrowers who have sufferedd the effects of local home price saidDon Bisenius, executive vice presidentg in a statement. “Today’s announcement also underscoresdFreddie Mac’s commitment to make the Obamza administration’s Making Home Affordable program a gateway to successful long-term homeownership for as many borrowerxs as possible.” To encourage borrowers with 30-year fixed rate mortgages to considetr a shorter 25-year term, Freddie Mac is providin g a special price incentive to lenders.
The incentive only appliexs to Relief Refinance Mortgages with LTV ratios betweehn 105 percent and125 percent. The 25-yeat term will result in borrowers paying less interest over the life of theif loan and over time improvinf their overallequity position. Freddie Mac’s Reliefd Refinance Mortgage is available to borrowers who are curren t on mortgages that are owned or guaranteed byFreddie Mac.
Freddiee Mac’s Relief Refinance Mortgage allowas borrowers to financeclosing costs, financiny costs and escrows up to $5,0090 or 4 percent of the current unpaid principal balance of the mortgage being refinanced, whichever is Mortgage insurance is not requirexd if the existing mortgage does not requires it. Otherwise, mortgage insurance coverage on the new loan must be the same as on theoriginal mortgage. Borrowers who apply for Relief Refinance Mortgages through theird current servicer will not need tobe re-underwrittejn in most cases.
When borrowers apply for Relief Refinanc e Mortgages through lenders other than theircurrengt servicer, the lender must re-underwrite the borrower through Loan Freddie Mac’s automated underwriting service, the company said. The expandedf LTV ratios are available now when borrowersd apply for Relief Refinance Mortgages through their current servicerf and will becomeavailable Oct. 1 when borrowera apply through any lender affiliated withFreddier Mac. Freddie Mac also said the resulting impact on prepayments for certain Freddie Mac mortgageparticipation certificates, may depending on borrower response and other factors.

Thursday, March 15, 2012

Gambar Makanan Bisa Bangkitkan Selera Makan - Liputan6.com

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TEXT-S&P raises Elizabeth Arden to 'BB-', outlook is stable Reuters March 23 - Overview -- US-based Elizabeth Arden has had positive operating results over the past year and sustained improved credit metrics. -- We are raising our corporate credit rating on Elizabeth Arden to 'BB-' from 'B+'. S&P Raises Elizabeth Arden A Notch Closer To Investment Grade W »

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Gambar Makanan Bisa Bangkitkan Selera Makan Liputan6.com Liputan6.com, Bern: Saat bertandang ke rumah makan bersama keluarga, mungkin Anda kerap melihat beragam gambar makanan terpampang di dinding-dinding restoran tersebut. Menurut penelitian terbaru dalam jurnal ilmiah PlosONE, Kamis (15/3), ...

Former APG business park developer Opus East to liquidate under Ch. 7 - Baltimore Business Journal:

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Unable to refinance millions of dollarsdin debts, the company plans to liquidate its portfolio of commerciall properties throughout the region. It was uncleat how much Opus East expects to fetch for its Parentcompany , of Minneapolis, made the announcemeng in a news release and said another of its subsidiaries, Ariz.-based Opus West, expects to seek Chapter 11 protection in July. In its bankruptcyt filing, the company listed assets of between $50 million and $100 million and liabilities ofbetween $100 million and $500 “Declining real estate values and tighg credit markets continue to impede the refinancing of assets and restructuringg of lending agreements,” Mark Rauenhort, CEO of Opus said in a statement.
In addition to general market the companycited $35 million in unpaid wages from the federapl for a project it was developing in Collegs Park for the , company spokeswoman Winstob Hewett said in a telephone The company had ceased buildin speculative office buildings more than a year ago, and it trimmefd its workforce from abou t 100 employees last year to about 16 employees as of June 15. The companu did not include all of its subsidiaries inthe filing.
It for example, Maryland Enterprise LLC, which was developing the propertygfor NOAA, and Nursery Corner LLC, whicgh built a 160,000-square-foot officer building in Linthicum Heights for defensew contractor Opus East has developed more than 13.3 millionm square feet of space since 1994. Opus West has developex more than 52.7 million square feet since 1979. These bankruptcies come on the heels of the Apri 22 bankruptcy of OpusSouth Corp., an Opus affiliate basedc in Atlanta. Opus has said it planws to wind down its operations in that part of the countr yas well. Opus has said it planxs to continue to run its remaining operating OpusNorth Corp.
, baseds in Chicago, and Opus Northwest, basesd in Minnetonka. Those unitsa are actively pursuing projects. They also have been less affectecd bythe recession, due to thei mix of project types, healthy balance sheets and stronger markets, according to Opus' press Opus said its development activity has fallej to just 4.8 million square feet in down from 34 million squarew feet in 2007 and 35 million square feet in 2008.