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воскресенье, 24 февраля 2013 г.
вторник, 19 февраля 2013 г.
Lubavitch Education Center faces foreclosure - The Business Journal of the Greater Triad Area:
ogarawo.wordpress.com
’s 84,020-square-foot, seven-story building on seven along with two other is named inthe $8 million foreclosurer lawsuit filed on June 23 by the Birmingham, Ala-based bank in Miami-Dade County Circui t Court. The nonprofit center is affiliated with theChabad Lubavitch, an orthodox Jewis h movement that has temples and education centersz throughout the world. The foreclosure names the nonprofit Friends of Lubavitcb of Florida andthe for-profit 17330 NW 7 LLC. Rabbio Bentzion Korf, who is listed on the LubavitcEducation Center’s Web site as the director, manage s both entities, which took an $8 milliob loan from the bank in 2004.
Korf didn’ft immediately return a call seekingf comment. The center was founded in 1973 as the firstfrabbinical college, or yeshiva, in the southeastern U.S. Orthodox Jews from throughoutt South Florida send their children theree forreligious education. In additionn to the main campus, which is locatex near Golden Glades, the foreclosure targets the 30,750-square-foot education center at 1114 Alton Road in Miamui Beach anda 3,363-square-foot apartment buildingy at 1231 13th St. in Miami Beach.
Miami-basedr attorney Elizabeth Dombovary, who represents Regions Bank inthe lawsuit, didn’y immediately return a call seeking
’s 84,020-square-foot, seven-story building on seven along with two other is named inthe $8 million foreclosurer lawsuit filed on June 23 by the Birmingham, Ala-based bank in Miami-Dade County Circui t Court. The nonprofit center is affiliated with theChabad Lubavitch, an orthodox Jewis h movement that has temples and education centersz throughout the world. The foreclosure names the nonprofit Friends of Lubavitcb of Florida andthe for-profit 17330 NW 7 LLC. Rabbio Bentzion Korf, who is listed on the LubavitcEducation Center’s Web site as the director, manage s both entities, which took an $8 milliob loan from the bank in 2004.
Korf didn’ft immediately return a call seekingf comment. The center was founded in 1973 as the firstfrabbinical college, or yeshiva, in the southeastern U.S. Orthodox Jews from throughoutt South Florida send their children theree forreligious education. In additionn to the main campus, which is locatex near Golden Glades, the foreclosure targets the 30,750-square-foot education center at 1114 Alton Road in Miamui Beach anda 3,363-square-foot apartment buildingy at 1231 13th St. in Miami Beach.
Miami-basedr attorney Elizabeth Dombovary, who represents Regions Bank inthe lawsuit, didn’y immediately return a call seeking
четверг, 14 февраля 2013 г.
FBI arrests Elk Grove police officer, alleges mortgage fraud - Sacramento Business Journal:
ogarawo.wordpress.com
Ali Khalil, 29, is a three-year veteran of the Elk GrovewPolice Department. The criminal complaint, investigatef by agents of the , says Khalil took out two overstating his income oneach one, and claimed both homezs as his primary residence. One home was in Elk Groves and the other in On the Elk Grove homeloan application, he did not claik the Watsonville home as a the FBI said. He also stated an income of $12,000p per month, when his IRS return showed only $7,191q per month. He had also claimed income from apersonalk business, a towing company. But an investigatiohn by the IRS returns for the busineses showed a loss forthe business.
The allegations, accordinb to a statement from the Elk Grove Police have nothing to do with his official duties as asworn officer. He has been placer on administrative leave pending aninternal
Ali Khalil, 29, is a three-year veteran of the Elk GrovewPolice Department. The criminal complaint, investigatef by agents of the , says Khalil took out two overstating his income oneach one, and claimed both homezs as his primary residence. One home was in Elk Groves and the other in On the Elk Grove homeloan application, he did not claik the Watsonville home as a the FBI said. He also stated an income of $12,000p per month, when his IRS return showed only $7,191q per month. He had also claimed income from apersonalk business, a towing company. But an investigatiohn by the IRS returns for the busineses showed a loss forthe business.
The allegations, accordinb to a statement from the Elk Grove Police have nothing to do with his official duties as asworn officer. He has been placer on administrative leave pending aninternal
суббота, 9 февраля 2013 г.
Vacancy rates, commercial mortgage defaults on the rise - Business First of Columbus:
torbjorntrainer1738.blogspot.com
On the heels of reports showinv higher vacancy rates in the officd and industrial markets in all three ofthe region’s another report showed higher delinquency ratesw for commercial properties. In looking at the $16.i9 billion in commercial mortgage-backed securities in South Horsham, Pa.-based found that 1.94 percen of them were delinquentin That’s up from 1.04 percent in Realpoint put 20.1 percenft of the South Florida CMBS loans on its watchn list – meaning the researcuh company has flagged payment defaults, loan maturit risk, low occupancy levels, poor borrower finances or othef material issues. That’s up from 19.4 percent on the watcyh list in December.
Both of those measures came above the nationa averagesof 1.72 percent delinquency and 19.1 perceng on the watch list. As of Dec. 31, commerciak mortgages held by banks and thrifts were actuallg in worse shape thanCMBS loans, with a 2.7 percent delinquency Frank Innaurato, managing director of CMBS researchg for Realpoint, predicted that delinquencyu of these securitized loans would more than double by the end of 2009. Many commercialk properties were underwritten at such inflatec values that their debtservice can’t supportf the cash flow, he said.
“Borroweras are crying poor and coming back to lendersrequiriny forbearance, debt service relief or changeas in interest rates,” Innaurato said. “Some of it is being causedx by the tenant base cominf to borrowers in the retail or office front and asking to renegotiatwe the leases sothey don’t go out of In other cases, commercial loans maturde and properties can’t obtain new he said. Commercial foreclosures have been sweepinhg acrossSouth Florida. Amonv the largest commercial projectzs facingforeclosure suits: Miami Airport Center, a 597,901-square-foot office/warehousre complex near .
Coral Landings III, a -anchored shoppinfg center in Coral Springswith 114,956 squares feet completed and nearlu 50,000 square feet under A 137,066-square-foot former call center buildinb in Boca Raton. Courthouse Commons, a new 99,395-square-footf Class A office building in downtown WestPalm Beach. The 417-room Royap Palm Hotel in Miami Beach. The first quarte r South Florida market view by showe that the office vacancy rate climbedto 23.8 percent in Palm Beach 15 percent in Broward County and 11.
4 percent in Miami-Dade The credit crunch has hurt commercial real estate, but the default rate won’t come anywhere near the problems facing residential real said Rick Miller, South Floridw managing director for CB Richard Ellis. “Th e fundamentals on the commercial side remain pretty he said. Many financial institutions don’t want to take over commercial properties, and are instead reworkingv loans, putting them into receivership or encouraginga sale, Miller said. Realpoint’a Innaurato noted that the number of CMBS loanxs late on payments has increased nearlty twice as fast over the past six monthds as the number of themin Meanwhile, there are 1.
8 million square feet of commercial projects under construction in downtown Miami and the Brickell area that should be ready in 2010, with 13 perceng preleased, the CBRE report stated. Much of the speculatived space coming online won’t be absorbed for said Michael Adler, chairman and CEO of the , a Miami-basedx commercial property owner. “Untio there is a growing economy, you’re not going to have a need for Adler said.
“We’re in for quite a few yearsz of fairly high vacancies in theoffice
On the heels of reports showinv higher vacancy rates in the officd and industrial markets in all three ofthe region’s another report showed higher delinquency ratesw for commercial properties. In looking at the $16.i9 billion in commercial mortgage-backed securities in South Horsham, Pa.-based found that 1.94 percen of them were delinquentin That’s up from 1.04 percent in Realpoint put 20.1 percenft of the South Florida CMBS loans on its watchn list – meaning the researcuh company has flagged payment defaults, loan maturit risk, low occupancy levels, poor borrower finances or othef material issues. That’s up from 19.4 percent on the watcyh list in December.
Both of those measures came above the nationa averagesof 1.72 percent delinquency and 19.1 perceng on the watch list. As of Dec. 31, commerciak mortgages held by banks and thrifts were actuallg in worse shape thanCMBS loans, with a 2.7 percent delinquency Frank Innaurato, managing director of CMBS researchg for Realpoint, predicted that delinquencyu of these securitized loans would more than double by the end of 2009. Many commercialk properties were underwritten at such inflatec values that their debtservice can’t supportf the cash flow, he said.
“Borroweras are crying poor and coming back to lendersrequiriny forbearance, debt service relief or changeas in interest rates,” Innaurato said. “Some of it is being causedx by the tenant base cominf to borrowers in the retail or office front and asking to renegotiatwe the leases sothey don’t go out of In other cases, commercial loans maturde and properties can’t obtain new he said. Commercial foreclosures have been sweepinhg acrossSouth Florida. Amonv the largest commercial projectzs facingforeclosure suits: Miami Airport Center, a 597,901-square-foot office/warehousre complex near .
Coral Landings III, a -anchored shoppinfg center in Coral Springswith 114,956 squares feet completed and nearlu 50,000 square feet under A 137,066-square-foot former call center buildinb in Boca Raton. Courthouse Commons, a new 99,395-square-footf Class A office building in downtown WestPalm Beach. The 417-room Royap Palm Hotel in Miami Beach. The first quarte r South Florida market view by showe that the office vacancy rate climbedto 23.8 percent in Palm Beach 15 percent in Broward County and 11.
4 percent in Miami-Dade The credit crunch has hurt commercial real estate, but the default rate won’t come anywhere near the problems facing residential real said Rick Miller, South Floridw managing director for CB Richard Ellis. “Th e fundamentals on the commercial side remain pretty he said. Many financial institutions don’t want to take over commercial properties, and are instead reworkingv loans, putting them into receivership or encouraginga sale, Miller said. Realpoint’a Innaurato noted that the number of CMBS loanxs late on payments has increased nearlty twice as fast over the past six monthds as the number of themin Meanwhile, there are 1.
8 million square feet of commercial projects under construction in downtown Miami and the Brickell area that should be ready in 2010, with 13 perceng preleased, the CBRE report stated. Much of the speculatived space coming online won’t be absorbed for said Michael Adler, chairman and CEO of the , a Miami-basedx commercial property owner. “Untio there is a growing economy, you’re not going to have a need for Adler said.
“We’re in for quite a few yearsz of fairly high vacancies in theoffice
воскресенье, 3 февраля 2013 г.
JIA baggage system to get upgrade - Jacksonville Business Journal:
sucujovide.wordpress.com
The project, which is scheduled to begin immediatelyy and be finishedby October, includes retrofittingh the airport's existing RFID system with equipmenrt that complies with EPC Global standardds and improving the system to allow every piece of luggage to get an RFID tag for tracking, tracinyg and sorting. "FKI Logistexx looks forward to working with JIA to make it one ofthe world'sz safest and most efficient airports," said Stephenh Ackerman, president of . The compant will add six RFID reader pointsw to the two alreadyin place, whic will be exchanged for new equipment.
Three of the new readerr arrays will be placed at the entrance tothe airport's north and south baggagde make-up areas and manual encodinb station, where baggage that must be manually encoded is handled. The other three new RFID readersx will be installed in new baggage recirculationh loops in the north andsouth make-up areas and along the suspect bag line, where bags are removedf to check for traces of The project will also include adding about 300 feet of conveyoe belt to allow for curbsider check in of large groups and for the new recirculation loopsd in the make-up areas.
It is estimatedf that the airport willuse 20,000 RFID tags to operate the system, with the tags beinvg removed from bags before being loaded on
The project, which is scheduled to begin immediatelyy and be finishedby October, includes retrofittingh the airport's existing RFID system with equipmenrt that complies with EPC Global standardds and improving the system to allow every piece of luggage to get an RFID tag for tracking, tracinyg and sorting. "FKI Logistexx looks forward to working with JIA to make it one ofthe world'sz safest and most efficient airports," said Stephenh Ackerman, president of . The compant will add six RFID reader pointsw to the two alreadyin place, whic will be exchanged for new equipment.
Three of the new readerr arrays will be placed at the entrance tothe airport's north and south baggagde make-up areas and manual encodinb station, where baggage that must be manually encoded is handled. The other three new RFID readersx will be installed in new baggage recirculationh loops in the north andsouth make-up areas and along the suspect bag line, where bags are removedf to check for traces of The project will also include adding about 300 feet of conveyoe belt to allow for curbsider check in of large groups and for the new recirculation loopsd in the make-up areas.
It is estimatedf that the airport willuse 20,000 RFID tags to operate the system, with the tags beinvg removed from bags before being loaded on
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