Business Specialties  Investment
Omega Takes Majority Stake in Developer of 440-Acre Fresno Project
Jun 24, 2009

Omega Commercial Finance Corp. has signed a definitive agreement to acquire a majority interest in EcoCalifornia L.L.C., a firm currently in the process of developing a golf resort and housing project in the Fresno, Calif., area. The 440-acre development, called Running Horse, will consist of an 18-hole PGA sanctioned golf course designed by Jack Nicklaus, along with 620 single-family homes, 140 townhomes and 400 apartments--all catering to senior citizens and military veterans. Additionally, there will be 96 apartments for workers to the area, a clubhouse/pro shop, a hotel/conference center, gas station, restaurant and an additional 180,000 square feet of retail development.




 
Recent Investment Headlines
Economic Update - Glimmers of Recovery on the Horizon
Aug 10, 2009
In news that caught most everyone's attention on Friday, the U.S. Department of Labor said that the nation's unemployment rate actually went down 10 basis points in July, to 9.4 percent. It's being called a sign of stabilization because monthly changes in the unemployment rate that small tend to be revised out of existence eventually, but at this point, "stabilization" looks pretty good.
U.S. Chain Store Sales Down 5% in July
Aug 07, 2009
Leaner inventories and a shift in state sales-tax holidays hampered U.S. chain store sales in July, which were off 5 percent on a same-store basis, compared with the same period last year, according to the International Council of Shopping Centers.
Multi-family Mortgage Originations Down 54 Percent from Same Time Last Year
Aug 07, 2009
Commercial and multi-family mortgage originations haven’t escaped the trickle down of the recession and the credit crunch, with volumes 54 percent below last year's second quarter and 83 percent below the peak seen in the second quarter of 2007, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Economic Update - Deutsche Bank Offers Grim View of U.S. Mortgages
Aug 07, 2009
Like a trailer for a monster movie, a new report by Deutsche Bank is promising scary things in the not-too-distant future. Assuming that housing prices continue a decline, the percentage of underwater mortgages might rise to 48 percent of the total, or roughly 25 million loans, by the first quarter of 2011. The bank is predicting that U.S. home prices will decline a further 14 percent from current prices by the first quarter of 2011.
BOMA Chicago Initiates Country's First Office Building Smart Grid Program
Aug 07, 2009
The Building Owners and Managers Association of Chicago has launched an effort to develop the country's first commercial office building smart grid program, delivering a utility-scale, clean, virtual generator through implementation of smart grid technology in more than 260 commercial buildings in downtown Chicago. With the potential to provide as much as 200 megawatts of demand response capability, the program would lower costs and avoid the need to construct expensive new generation plants. It requires upgrading the buildings' electric metering infrastructure, with significant building-level upgrades. To help address the estimated $185.4 million program cost, the city's BOMA chapter filed an application for $92.7 million in matching funds from the U.S. Department of Energy's Smart Grid Investment Grant Program, which was formed under the recently passed American Reinvestment and Recovery Act.
 
Select Coverage By City:

?CPN Executive Outlook? A roundtable discussion on market strategies with John C. Cushman III, Chairman of Cushman & Wakefield, Inc., Gordon DuGan, President and CEO of W. P. Carey & Co., and Mark Rauenhorst, Chairman and CEO of Opus Group.; CPN; Cushman & Wakefield; Gordon DuGan; John C. Cushman III; Mark Rauenhorst; Opus Group; W. P. Carey & Co.; Eugene Gilligan, Senior Editor for Commercial Property News interviews Bob Bach, National Director, Market Analysis Grubb & Ellis Company at Multi Housing World.; Bob Bach; Commercial Property News; Eugene Gilligan; MHN; Multi housing news; multi housing world; hompage