Bloomberg.com: Exclusive
Wachovia is sold to Citigroup in a deal brokered by the FDIC
The Dow drops over 777 points. The largest one day point loss in history as Congress rejects Paulson's 700B bail out plan.
Ironically Campbell's soup was higher.
Monday, September 29, 2008
Friday, September 26, 2008
Monday, September 22, 2008
Keystone, Bozzuto pull trigger on Centennial Campus projects
Keystone, Bozzuto pull trigger on Centennial Campus projects - Triangle Business Journal:
excerpted:
Keystone Corp. of Durham is close to signing a long-term lease with the university for a 3-acre parcel at the northwest corner of Varsity Drive and Main Campus Drive, where the company plans to build a 70,000-square-foot laboratory building.
The Bozzuto Group of Greenbelt, Md., is close to signing a lease for a 7-acre site on Main Campus Drive for up to 300 apartment units that will be marketed to the general public and not as student housing.
excerpted:
Keystone Corp. of Durham is close to signing a long-term lease with the university for a 3-acre parcel at the northwest corner of Varsity Drive and Main Campus Drive, where the company plans to build a 70,000-square-foot laboratory building.
The Bozzuto Group of Greenbelt, Md., is close to signing a lease for a 7-acre site on Main Campus Drive for up to 300 apartment units that will be marketed to the general public and not as student housing.
NCSU moving forward with $180M engineering buildings
NCSU moving forward with $180M engineering buildings - Triangle Business Journal:
excerpted:
When all the dollars are added up, the new NCSU College of Engineering will have been built for a projected $307.5 million.
Martin-Vega has identified the Georgia Institute of Technology, better known as Georgia Tech, as NCSU’s model. The engineering schools at NCSU and Georgia Tech were considered peers in the 1980s. But Georgia Tech over the years has built new facilities and added faculty to the point that it has pulled away from NCSU in national rankings,
excerpted:
When all the dollars are added up, the new NCSU College of Engineering will have been built for a projected $307.5 million.
Martin-Vega has identified the Georgia Institute of Technology, better known as Georgia Tech, as NCSU’s model. The engineering schools at NCSU and Georgia Tech were considered peers in the 1980s. But Georgia Tech over the years has built new facilities and added faculty to the point that it has pulled away from NCSU in national rankings,
Friday, September 19, 2008
The Don of Donations - WSJ.com
The Don of Donations - WSJ.com
Great WSJ article on some of the most expensive real estate in Raleigh...Carter-Finley Stadium.
"Carter-Finley Stadium in Raleigh, N.C., is a tribute to the earning power of big-time college athletics. Since 2000, the school has added over $100 million in improvements, including a four-story tower with luxury suites and a football-operations center that houses three swimming pools, a weight room and a 3,500-square-foot player lounge."
Great WSJ article on some of the most expensive real estate in Raleigh...Carter-Finley Stadium.
"Carter-Finley Stadium in Raleigh, N.C., is a tribute to the earning power of big-time college athletics. Since 2000, the school has added over $100 million in improvements, including a four-story tower with luxury suites and a football-operations center that houses three swimming pools, a weight room and a 3,500-square-foot player lounge."
Wednesday, September 17, 2008
Okay - So Greed Ain't Good
FT.com / Columnists / John Gapper - This greed was beyond irresponsible
"Warren Buffett warned in 2003 that derivatives were “financial weapons of mass destruction” and that, while the Federal Reserve system was created in part to prevent financial contagion, “there is no central bank assigned to the job of preventing the dominoes toppling in insurance or derivatives”.
AIG Financial Products arm assessed the risks of insuring CDOs. It ran all the data and decided that, in the worst case, it risked losing $2.4bn on the portfolio.
Well, $24bn of write-downs later – a mere 10 times its maximum estimate – the company has burned through its equity, spread financial chaos to all corners of the earth and humiliated the US Treasury."
"Warren Buffett warned in 2003 that derivatives were “financial weapons of mass destruction” and that, while the Federal Reserve system was created in part to prevent financial contagion, “there is no central bank assigned to the job of preventing the dominoes toppling in insurance or derivatives”.
AIG Financial Products arm assessed the risks of insuring CDOs. It ran all the data and decided that, in the worst case, it risked losing $2.4bn on the portfolio.
Well, $24bn of write-downs later – a mere 10 times its maximum estimate – the company has burned through its equity, spread financial chaos to all corners of the earth and humiliated the US Treasury."
Tuesday, September 16, 2008
BofA's "Deal of a Lifetime"
newsobserver.com | Bank of America shares dive after Merrill Lynch deal
Bank of America shares are down 20% on the announcement that they will throw a life raft to the sinking USS Merrill Lynch. Just when I thought BAC had survived this credit crisis, they take on more risk.
Bank of America shares are down 20% on the announcement that they will throw a life raft to the sinking USS Merrill Lynch. Just when I thought BAC had survived this credit crisis, they take on more risk.
Waverly Place on Hold
newsobserver.com | Credit crisis snarls Waverly Place
Todd Zapolski's plan to redevelop Waverly Place in Cary is on hold until the debt starts flowing again.
Todd Zapolski's plan to redevelop Waverly Place in Cary is on hold until the debt starts flowing again.
Tuesday, September 09, 2008
Wilmington is First in US to go Digital
newsobserver.com | Wilmington pulls plug on old-fashioned TV
-coastal city volunteers to be test market for national conversion
-rest of US will convert on 2/17/09
-only 8% of 180,000 TV households still use analog and will have to get a digital set
-gov coupons for converter boxes available at www.dtv2009.gov
-TW Cable gains flood of new customers
-coastal city volunteers to be test market for national conversion
-rest of US will convert on 2/17/09
-only 8% of 180,000 TV households still use analog and will have to get a digital set
-gov coupons for converter boxes available at www.dtv2009.gov
-TW Cable gains flood of new customers
Monday, September 08, 2008
WSJ: Dell could sell off Winston-Salem plants
WSJ: Dell could sell off Winston-Salem plants - Triangle Business Journal:
It appears $300M in incentives was not enough to make Dell successful here.
It appears $300M in incentives was not enough to make Dell successful here.
Thursday, September 04, 2008
Apartment Sales Approach Record
newsobserver.com | Investors favor apartments near jobs
Almost $900 million in Triangle apartment transactions have closed this year -- surpassing last year's total by 12 percent and en route to matching the record $1.05 billion set in 2006
Almost $900 million in Triangle apartment transactions have closed this year -- surpassing last year's total by 12 percent and en route to matching the record $1.05 billion set in 2006
Wednesday, September 03, 2008
Big Ed Lead Forum Deal
Highwoods CEO led talks in purchase of Forum complex - Triangle Business Journal:
Good summary of the Forum transaction.
Good summary of the Forum transaction.
Implus Footcare moving to Durham
newsobserver.com | Implus Footcare moving to Durham
Implus Footcare has signed a 10-year lease for a new 262,940-square-foot headquarters and distribution center at 2001 T.W. Alexander Drive in Durham.
Implus Footcare has signed a 10-year lease for a new 262,940-square-foot headquarters and distribution center at 2001 T.W. Alexander Drive in Durham.
Raleigh council gives Hillsborough developer an extension
Raleigh council gives Hillsborough developer an extension - Triangle Business Journal:
What's good for Greg is good for David.
Sorry Russell, these guys must have some awesome cred.
What's good for Greg is good for David.
Sorry Russell, these guys must have some awesome cred.
Triangle Lands Homeland Security Gigs worth over $22M
Centers to study U.S. security: RTP, UNC-CH sites hailed as putting area at front of homeland security efforts
It is a collaboration of RTI International, Duke University, UNC-Chapel Hill and the N.C. Military Foundation.
RTI - $7.5M contract studying how social science and policy-making can fight terrorism and improve homeland defense in other ways.
Duke - The new “Solutions” institute will be housed at Duke University, WRAL News was told.
UNC-CH - The Department of Homeland Security grant for that center, which will study natural disasters in coastal areas, is worth at least $2.5 million a year for six years.
"If you look around the country, there are many industrial parks, there are many universities and several research parks, but it's been my experience that no state puts it together as well as North Carolina can," he said. "We wanted the best of the best in these two cases, and we've picked very well. And these aren't short-term commitments."
It is a collaboration of RTI International, Duke University, UNC-Chapel Hill and the N.C. Military Foundation.
RTI - $7.5M contract studying how social science and policy-making can fight terrorism and improve homeland defense in other ways.
Duke - The new “Solutions” institute will be housed at Duke University, WRAL News was told.
UNC-CH - The Department of Homeland Security grant for that center, which will study natural disasters in coastal areas, is worth at least $2.5 million a year for six years.
"If you look around the country, there are many industrial parks, there are many universities and several research parks, but it's been my experience that no state puts it together as well as North Carolina can," he said. "We wanted the best of the best in these two cases, and we've picked very well. And these aren't short-term commitments."
Tuesday, September 02, 2008
Triangle apartment community sold to Louisville's NTS for $39M
Triangle apartment community sold to Louisville's NTS for $39M - Triangle Business Journal:
Highlights:
Property: Courtney Estates, 300 unit garden style apartments
Location: near RTP, I40 and I540 interchange
Buyer: NTS Realty Holdings
Seller: Courtney Estates Holdings, LLC
Price: $39M or $130K per unit
Closing: expected on 26 Oct 08
Note:
Louisville-based NTS owns 12 multifamily properties, seven office buildings and business centers and three retail properties in Indiana, Kentucky, Florida, Georgia, Tennessee, Virginia and North Carolina.
Highlights:
Property: Courtney Estates, 300 unit garden style apartments
Location: near RTP, I40 and I540 interchange
Buyer: NTS Realty Holdings
Seller: Courtney Estates Holdings, LLC
Price: $39M or $130K per unit
Closing: expected on 26 Oct 08
Note:
Louisville-based NTS owns 12 multifamily properties, seven office buildings and business centers and three retail properties in Indiana, Kentucky, Florida, Georgia, Tennessee, Virginia and North Carolina.
UNC to launch Business Incubator
UNC approves design for Carolina North's Innovation Center - Triangle Business Journal:
Alexandria will build and operate UNC's 85,000 SF business incubator.
Alexandria will build and operate UNC's 85,000 SF business incubator.
Monday, September 01, 2008
Horizon Realty buys Raleigh student apartments for $21M
Horizon Realty buys Raleigh student apartments for $21M - Triangle Business Journal:
There are 156 units in the complex. The property also includes a 4,000-square-foot clubhouse.
Reed Cos., a Florida developer of student housing, was the seller for the complex, built in 2003. According to its Web site, that company owns no other apartment properties in the Triangle.
The purchase of Village Green gives Horizon three student-housing apartment complexes in Raleigh. The company also owns sister complexes Centennial Ridge and Centennial Village, with the former located off Tryon Road and the latter at the corner of Gorman Street and Avent Ferry Road.
There are 156 units in the complex. The property also includes a 4,000-square-foot clubhouse.
Reed Cos., a Florida developer of student housing, was the seller for the complex, built in 2003. According to its Web site, that company owns no other apartment properties in the Triangle.
The purchase of Village Green gives Horizon three student-housing apartment complexes in Raleigh. The company also owns sister complexes Centennial Ridge and Centennial Village, with the former located off Tryon Road and the latter at the corner of Gorman Street and Avent Ferry Road.
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