The loan on the Four Seasons Resort Hualalai, a Hawaiian vacation area co-owned by Michael Dell’s MSD Capital LP, is close to a restructuring as the property benefits from higher room rates and rising luxury-home demand, said Patrick Fitzgerald, chief executive officer of the resort.
The availability of top-quality office space in Manhattan rose to the highest in almost two decades as a new skyscraper at the World Trade Center site neared completion, according to brokerage Studley Inc.
Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, agreed to acquire Plains Exploration & Production Co. and McMoRan Exploration Co. for about $9 billion as the company returns to its roots in energy.
Foster + Partners, the architectural firm run by Norman Foster, was chosen to design the first full- block office tower on Manhattan’s Park Avenue to be built in almost 50 years, the developers said today.
Larry Silverstein has formal proposals from two potential tenants for 3 World Trade Center, which if accepted would allow the developer to build the skyscraper to its full 80 stories, two people with knowledge of the negotiations said.
Charles Ishay planned to hold on to 895,500 square-feet (83,195 square-meters) of office space in suburban Cleveland after the mortgage servicer LNR Property LLC agreed to change terms on $135 million of debt taken on during the 2007 market peak. Orix USA killed that plan.