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Corus Bank's $4.5 Billion Loan PortfolioSold
A consortium managed by Starwood Capital Group has acquired a 40 percent stake in a limited liability company that will hold an estimated $4.5 billion in troubled construction loans and real estate-owned assets the federal government seized in September from Chicagobased Corus Bank.
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Shims and adhesive lock the parts together into a squeak-free unit.
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Boulder, Colo., builders get a tax reprieve; jury rejects first FEMA trailer lawsuit; an update on the New London, Conn., eminent domain case; more
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Keep Your Eyes Peeled
As the banking industry continues to struggle through the recession, access to construction capital isn’t getting any easier.
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News
THE FIVE-STORY North Tract Lofts apartment complex in Arlington, Va., was originally designed as a concrete project, but the developer asked its contractor, Clark Builders Group, to reengineer the building to Type III wood construction.
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Second Coming
RICHARD BOALES HAD bought multifamily projects from other developers before, but never one that was halfway through construction.
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Circling the Wagons
While a crisis is an opportunity, it's also a crisis.
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Same as it Ever Was
SLOW AND STEADY WINS the race, according to Aesop, and nowhere is that more evident than the Federal Housing Administration (FHA).
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Affordable, If You Can Find It
While construction financing remains relatively affordable, fewer deals are penciling out these days, and underwriting standards continue to tighten.