Member News, News

Major Lease Expiration Date Nears for New York Office Loan

One loan CMBS investors may want to watch is the $33.2 million 1710 Broadway note that backs 2.1% of COMM 2005-C6. The property is a 68,285 square-foot office in Manhattan's Midtown West area. The building was constructed in 1918 and renovated in 2003. The concern is that the lease for lead tenant Christian Casey is slated to end in April of this year. According to recent servicer watchlist notes, "tenant has been vague regarding plans upon lease expiration." Christian Casey is the corporate...

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New York Grant Company Partners with Ireland INC for Ireland Day 2014 in NYC

The New York Grant Company has partnered with Ireland INC for the fourth annual Ireland Day 2014 in New York City to foster economic development in NYC and worldwide. The summit will take place at the New York Stock Exchange on Friday, March 14th. Themed Ireland and the World with a focus on investing in Ireland, a unique group of global business and political leaders will attend this one day international business summit. "We're thrilled to be a part of an...

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Chapter News, News

Euro area annual inflation stable at 0.8% – EU down to 0.9% // Employment Trends

Euro area annual inflation was 0.8% in January 2014, stable compared to December 2013. A year earlier the rate was 2.0%. Monthly inflation was -1.1% in January 2014. European Union annual inflation was 0.9% in January 2014, down from 1.0% in December 2013. A year earlier the rate was 2.1%. Monthly inflation was -0.9% in January 2014. Inflation rates – detailed figures More on Harmonized Indices of Consumer Prices (HICP) Employment: vacancy trends reveal growing North-South divide in EU labour market Vacancy...

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Pepper Podcast: Representation & Warranty Insurance in M&A Transactions

Recently Bruce K. Fenton, Pepper Hamilton partner and chair of the firm’s Private Equity Practice Group and Investment Funds Industry Group, hosted Jay J. Rittberg, senior vice president and Americas M&A manager, and Ashley Behan, mergers & acquisitions insurance, of AIG to discuss the use and benefits of representation and warranty insurance in both buy-side and sell-side M&A transactions. This podcast is a recording of this seminar. Mr. Rittberg and Ms. Behan discuss how this insurance is used in transactions...

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Main results of the Competitiveness Council

Ministers held a debate on industrial competitiveness on the basis of the Commission communication “For a European Industrial Renaissance”. They also held a debate on the Commission's Annual Growth Survey (AGS) for 2014. The main results of the Council included: Industrial competitiveness Ministers held a debate on industrial competitiveness on the basis of the Commission communication “For a European Industrial Renaissance”, which proposes that industrial competitiveness concerns be systematically mainstreamed across relevant EU policy areas such as environmental, climate, energy, trade,...

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Rent Roll for Large 2007 Loan Set to Change Dramatically

According to a report in the New York Post by Steve Cuozzo, the rent roll for 85 Tenth Avenue in Manhattan is about to change dramatically. It appears that Google will be leasing 360,000 square feet in the roughly 600,000 square-foot building. The office building was built in 1913 and is owned by Related. The property backs $226 million of senior CMBS debt split across two 2007 deals. A $150 million piece represents 6% of COMM 2007-C9, and a $76...

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Granito Corporate Advisory expands into France

GRANITO is pleased to expand into NICE, FRANCE by adding to its team tri-lingual Dr. Virginia Intorcia, a professional fundraiser with a focus on corporate social responsibility projects (CSR). Dr. Intorcia's interests center on strategic communication and promotion of CSR projects in connection with cultural and social events, with a particular focus in the art industry. She has been actively involved in various projects in the US, Italy and France  dealing with the establishment and development of public and institutional relations,...

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Single Resolution Mechanism: Council reviews the state of play of the negotiations

The EU finance ministers on 18 February discussed the possible adjustments to the Council's general approach reached in December 2013 on the single resolution mechanism. The discussion was held with a view to giving more flexibility to the presidency in the forthcoming "trilogue" negotiations with the European Parliament on the establishment of the single resolution mechanism (SRM) – one of the key elements of Europe's future banking union. While not diverging from the key elements of the general approach, the ministers...

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2013 Industrial Structure Report Highlights Need for Industrial Renaissance

According to a European Commission report on the current status of EU industry, most sectors have still not regained their pre-crisis level of output and significant differences exist between sectors and Member States. According to a European Commission report published today on the current status of EU industry, most sectors have still not regained their pre-crisis level of output and significant differences exist between sectors and Member States. The "EU industrial structure report 2013: Competing in Global Value Chains" sheds...

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Commissioner De Gucht in Washington: “Steady Progress” in EU-US Trade Talks

  After the meetings with USTR Froman, Commissioner De Gucht will hold a press conference at 12:45 PM, which can be followed live on EbS . The Commissioner will also hold a speech at the Atlantic Council afterwards (on C-SPAN). Press Statement by EU Trade Commissioner Karel De Gucht following the stocktaking meeting with USTR Michael Froman on the Transatlantic Trade and Investment Partnership (TTIP): Good afternoon, ladies and gentlemen. After three rounds of talks for the Transatlantic Trade and Investment Partnership (TTIP)...

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