Also Inside: Too big to fail, or too small to save: Which banks will survive the... More
BIG BUILDER's coverage of the IMN Distressed Real Estate conference in Las Vegas, Nev., Part 2 of 2. More
Real estate consultant John Burns described the current housing market's nose dive as a stage five in the housing cycle--but not for much longer. "It's time to start thinking about stage one: the bottom," he said. More
Despite abysmal sales thanks to a weak Florida market and high cancellation rates, AVTR made money last year–a rarity among public home builders. The company's low cost basis for its long-owned land as well as its diversification into both commercial and industrial real estate have helped maintain profitability. It also has managed to maintain low levels of debt and almost as much cash on hand as it had at the end of 2006, both factors that should help it weather the downturn. To help bolster the company's cash, management is in the process of targeting commercial and industrial land in its portfolio for sale. A potential drain on the company's future cash is a 9.66-mile four-lane road it has agreed to build in Florida's Osceola and Polk Counties. More
Karagjozi attacks chief restructuring officer Perry Mandarino in a court filing, alleging unfair treatment of creditors. More
WHEN ONTARIO, CALIF.–based Frontier Homes finalized its $29 million purchase of the real estate assets of bankrupt builder Turner-Dunn in February, it not only established its first beachhead in Arizona, but possibly set the stage for further growth in the Southwestern U.S. More
The nation's fourth largest subprime lender says it has agreed to sell $2.9 billion in mortgages as well as its residential real estate business. More
Maryland is taking a look at its real estate holdings and is thinking about selling some of its parcels. Earlier this year, the state hired Addison, Texas, real estate advisors Staubach Co. to catalog its assets and make suggestions on what to do with them. All together, the state owns almost 500,000 acres, valued at just under $8 billion. About $3 billion of that is land; the rest includes more than 5,200 buildings and improvements. More
Lennar Corp., which has been in California since the mid-1990s, is expanding its presence in the Golden State by purchasing substantially all of the real estate assets of Coleman Homes, in Bakersfield, for an undisclosed purchase price to be paid in cash. More
