Developer files for 2nd bankruptcy Jul 1, 2009
In addition, there's been at least five foreclosure actions filed against Anderson, including one on 203 condominium and commercial units at the Ilikai hotel that went to auction in May to secure $73 million owed lender iStar Financial. Anderson didn't immediately return a telephone message left at his office yesterday, while his bankruptcy attorney William H. Gilardy Jr., declined comment. (Honolulu Advertiser)
The following is an investment opinion release issued by Pennystockchaser.com Jun 22, 2009
Also News Release (U-SFI) iStar Financial Inc ... US:SFI, iStar Financial Inc up 29% trading at $2. (PR Newswire)
Boutique hotel in Ch. 11 bankruptcy May 30, 2009
Last week, Anderson lost 203 condominium units and commercial space at the Ilikai hotel in Waikiki at a foreclosure auction to lender iStar Financial after no one bid anything close to the roughly $73 million he owed on the property. On the Lotus, First Hawaiian Bank filed a foreclosure lawsuit in October, claiming Anderson failed to pay back a $5 million loan that matured that month. (Honolulu Advertiser)
Lender acquires Ilikai condominum units, retail space May 22, 2009
Lender iStar Financial at a preliminary foreclosure auction last month bid $35 million for 203 condominium units in the iconic Waikiki hotel and $15 million for 16 commercial units that include the front desk, restaurant space, retail space, office space, parking and some small meeting rooms. A local businessman made one bid on the commercial space for $15. (Honolulu Advertiser)
SALE OF DRAKE LOAN WILL STAY IN A HOLE May 7, 2009
The giant hole where the Drake Hotel stood will remain a vacant lot for the foreseeable future after iStar Financial, the senior noteholder on the Macklowe Properties-owned site, stopped marketing the loan. According to people familiar with the matter, iStar let the agreement to market the note with Cushman & Wakefield expire. (New York Post -- Business)
Industrial vacancies surge May 3, 2009
One project, the roughly 210,000-square-foot second phase of Kapolei Spectrum business park delivered to the market in late 2007, is mostly empty and for sale after lender iStar Financial foreclosed on the developer Low Archibald Real Estate Group of California. Colliers also said a planned industrial lot complex slated for the former Hawaii Raceway Park in Kapolei was also foreclosed upon by iStar. (Honolulu Advertiser)
Lender bids for Ilikai units Apr 17, 2009
That was the price floor established yesterday by lender iStar Financial, which is foreclosing on local developer Brian Anderson after he failed to renovate the Ilikai and resell units he bought in the iconic Waikiki building almost three years ago. IStar was the only bidder at a preliminary auction of the property held yesterday outside First Circuit Court by commissioner George Van Buren. (Honolulu Advertiser)
New York lender wins Ilikai condo auction Apr 16, 2009
The foreclosure complaint filed by iStar Financial in August 2008 said that Anderson and his company, Anekona Islander LLC, owed nearly $51 million in principal, unpaid interest, late charges and fees on the residential mortgage for the 30-story building, and that Anderson and his company, Anekona Retail LLC, owed more than $23. 9 million in principal, unpaid interest, late charges and fees on the retail mortgage for the property. (Pacific Business News, HI)
Pease director sees potential in prominent property Apr 15, 2009
While Celestica is long gone, it is still under contract as the lease holder to iStar Financial until 2015. The Pease Development Authority had approved the sale of the building by iStar to Equity Industrial Partners, but that deal recently fell through. (Seacoast New Hampshire)
iStar Financial Sets First Quarter 2009 Earnings Release Date and Webcast Apr 15, 2009
NEW YORK, April 14 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: ), a leading publicly traded finance company focused on the commercial real estate industry, today announced that it will release its full financial results for the first quarter of 2009 on Thursday, April 30, 2009, prior to the opening of the market. The Company will host an earnings conference call reviewing these results and its operations beginning at 10:00 a.m. ET. This conference call will be broadcast live over the... (PR Newswire)
iStar Financial Announces Private Exchange Offers and Cash Tender Offer for Outstanding Debt Securities Apr 10, 2009
NEW YORK, April 9 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: ) announced today that it has commenced private offers to exchange a portion of the Company's existing senior unsecured notes for up to $1 ... SOURCE iStar Financial Inc.. (PR Newswire)
Waikiki Ilikai units to be sold at auction Mar 21, 2009
A New York lender, iStar Financial, foreclosed on the Waikiki property last year, claiming Anderson and two of his companies were in default for almost $75. 6 million for the residential and retail units they own at the 30-story building. (Pacific Business News, HI)
Local Muvico plans on track The theater, bowling alley, restaurant and electronic gaming complex will open early next year, company official says. Mar 20, 2009
-based company had owed $55 million to iStar Financial, a New York real estate investment trust, and was facing foreclosure. "The debt came due to iStar in January, and with the credit market the way it was we couldn't refinance," Whalen said. (Fredericksburg.com, VA)
iStar Financial Completes New $1 Billion Secured Term Loan and Restructuring of Existing Unsecured Revolving Credit Facilities Mar 17, 2009
NEW YORK, March 16 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: ), a leading publicly traded finance company focused on the commercial real estate industry, announced today that it has completed its previously announced new secured term loan facility and restructuring of its existing unsecured revolving credit facilities ... iStar Financial Inc. is a leading publicly traded finance company focused on the commercial real estate industry ... Additional information on iStar Financial is... (PR Newswire)
Longwood Towers owner will auction 40 luxury units Mar 10, 2009
Andrew G. Backman, senior vice president of investor relations and marketing at iStar Financial, said the company hopes the auction proves attractive to prospective buyers ... IStar Financial, which held the mortgage to Radco, acquired the property at auction last year through a subsidiary, after Radco and its partner could not afford to complete renovations. (Boston Globe)
Scottsdale complex sold at lower price Mar 7, 2009
The lender took the property over, Anderson said, and it was acquired by the 10255 East Via Linda LLC, affiliated with New York-based iStar Financial Inc.. "It's a great buy," Anderson said of La Privada. (AZCentral -- Business)
Status of theater planned for Spotsy Towne Center is in doubt Mar 7, 2009
Neither was a call to creditor iStar Financial. iStar filed a lawsuit against Muvico with the New York Supreme Court on Feb. 12, saying the theater chain's holding company had failed to make loan payments since October, had failed to make lease payments for at least five of its 13 theaters and "has failed to complete certain construction requirements with respect to a pending theater site.". (Fredericksburg.com, VA)
Possible closure at Ilikai hotel averted Feb 25, 2009
Lender iStar Financial filed a motion in court last week to replace Toy with Van Buren, after iStar and Toy clashed over whether iStar would continue funding losses of Anderson's Ilikai operations. The problem involved a Jan. 9 letter iStar sent to Toy saying the hotel has operated at a loss of more than $300,000 a month since at least October, and that iStar would stop covering operating losses as of Feb. 8. (Honolulu Advertiser)
Foreclosure suit hits Mandarin Oriental developer Feb 19, 2009
An affiliate of iStar Financial Inc. alleges that the projects developer, a group that includes former construction executive Gerard Kenny, failed to pay back a loan on the development site when it came due on Oct. 15. The development group owes iStar $44 million in principal, unpaid interest and fees, according to the lawsuit, which was filed Feb. 3 in Cook County Circuit Court. (Crain's Chicago Business)
iStar Financial Declares Regular Quarterly Common Dividend and Will Host Conference Call to Provide Business Update Mar 7, 2008
NEW YORK, March 7 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today that the Company's Board of Directors has declared a regular quarterly cash dividend on its common stock of $0 ... In addition, the conference call will be broadcast live over the Internet and can be accessed by all interested parties through iStar Financial's website, under the "Investor Relations" section ... For... (PR Newswire)
MAHONEY: MLS scores another coup with expansion to Philadelphia Mar 4, 2008
Already in place was a strong ownership group, which is comprised of several newcomers to the pro soccer scene and one familiar name: iStar Financial CEO Jay Sugarman, Swarthmore Group Chairman James Nevels, Philadelphia attorney William Doran, Christopher and Robert Buccini, founding partners of the Buccini/Pollin Group, and former MetroStars general manager Nick Sakiewicz ... The lead investor is Sugarman, the founder, chairman and CEO of iStar Financial, an investment firm whose primary... (SportsIllustrated.CNN -- Soccer)
Manulife Financial to Buy Timber Portfolio for $1.71 Billion From iStar Feb 20, 2008
71 billion from iStar Financial Inc. and its partners. The timber parcels are in Arkansas, Louisiana and Texas, iStar said today in a statement. (Bloomberg -- Canada)
Manulife deeper into the woods Feb 20, 2008
The parcels of land and related assets, including the assumption of an unspecified amount of debt, are being sold by New York-based real estate finance company iStar Financial Inc. and its equity partners. The timberland purchase comes a week after Manulife bought stakes in two private Saskatchewan energy companies. (Globe and Mail -- Business)
Gov. unveils funding plan for Philly MLS club Feb 1, 2008
SI.com - Soccer - Penn. gov. unveils funding plan for Philly-area stadium - Thursday January 31, 2008 4:00PM. (SportsIllustrated.CNN -- Soccer)
Rendell unveils state funding plan for Chester soccer stadium Feb 1, 2008
Jay Sugarman, chief executive officer of the New York-based iStar Financial, heads the group of investors hoping to get the MLS to award its 16th team to the Philadelphia market. In addition to Sugarman, the investors include the owners of the Wilmington, Del. (Somerset Daily American, PA)
MLS may hold off expansion until 2009 season Jan 21, 2008
The potential Philadelphia ownership group, which includes iStar Financial CEO Jay Sugarman and former AEG N.Y. President Nick Sakiewicz, is still negotiating a $45 million aid package from the state that would support the development of a stadium and mixed-use complex in Delaware County, Pennsylvania. "It's our objective to make a decision by the end of January," MLS President Mark Abbott said, "but we'd never make a hasty decision.". (St. Louis Business Journal, MO)
IAN GETS MARQUEE Jan 16, 2008
Schrager-created hotel group for Marriott International could simply be dubbed "Schrager Hotels." After all, everyone. " After all, everyone refers to them as Schrager hotels, anyway, right? "There is a name-recognition factor," said John A. Fox, a hotel adviser with PKF Consulting who was unaware of the new moniker. The plan calls for Schrager to oversee the creation of newly developed hotels with world-renowned architects and designers in several major cities. We've also learned that the first... (New York Post -- Business)
Rathmann foreclosure to proceed Jan 5, 2008
8 million to ASTAR, a subsidiary of New York-based iStar Financial Inc, while PBC reportedly owes $10. 7 million in secured debt to Wachovia Bank N.A. The bankruptcy cases are being handled jointly by Jennemann. (Orlando Business Journal)
Bills hit Mandarin Oriental project Dec 3, 2007
On Nov. 7, New York-based commercial real estate finance firm iStar Financial Inc. extended until Jan. 15 a nearly $43-million loan used to acquire the site, a vacant lot at Lake Street and Stetson Avenue, and fund pre-development work. Mr. Kenny, a former top executive with Northbrook-based Kenny Construction Co., was not available for comment. (Crain's Chicago Business)
Judge postpones Lexington sale to Dec. 20 Nov 30, 2007
Both iStar Financial and Orlando CityPlace earlier this month agreed to drop the $32 million minimum bid that had earlier been established because none of the five bids received by the Nov. 14 deadline met that requirement ... Meanwhile, the judge denied iStar Financial's request to schedule a hearing for Dec. 6 or 7 to approve a 1031 exchange with another bidder, A 1031 exchange, named after a section of the IRS tax code, is the exchange of one type of property for another. (Orlando Business Journal)
McClatchy charge at $1.37 billion Nov 9, 2007
27-billion commercial real estate loan portfolio to IStar Financial Inc. for $1. 89 billion in cash, plus an interest in the portfolio. (Los Angeles Times)
Fremont General Postpones Annual Meeting Nov 1, 2007
Actual developments and/or results may differ significantly and adversely from the Company's expected or reported results as a result of significant risks, uncertainties and factors, often beyond our control (as well as the various assumptions utilized in determining our expectations), and which include, but are not limited to, the following: -- the impact of the Company's withdrawal from the sub-prime residential real estate mortgage loan origination business; -- the impact of the sale of... (PR Newswire)
Delco commits $30M to soccer stadium Oct 25, 2007
The group hoping to land a MLS expansion is led by Jay Sugarman, the CEO of the New York-based iStar Financial real estate investment trust. James Nevels, founder of the Swarthmore Group investment advisory of Philadelphia and former chairman of the Philadelphia School Reform Commission, is also an investor. (Philadelphia Business Journal, PA)
Fidelity, Franklin Real-Estate Funds Plunge as Industry Loses $13 Billion Aug 17, 2007
Kensington Strategic Realty Fund has declined 17 percent this year, in part because of companies that provide commercial mortgages such as iStar Financial Inc. Shares of New York-based iStar have fallen 34 percent this year as investors became concerned that the subprime crisis would spread to corporate borrowers. About 8. (Bloomberg)
Rathmann sold to Virginia car dealers Jul 12, 2007
"Former auto racer Jim Rathmann Sr. -- winner of the Indianapolis 500 in 1960 -- founded the Melbourne dealership on U.S. 1 in 1961, and gained notoriety for providing cars to some of the original NASA astronauts.His son, Jim Rathmann Jr., took over the business in 1988, and started a second dealership, Palm Bay Chevrolet, in 2001.Rathmann Jr. said he will continue to operate the Palm Baydealership, located off Interstate 95 in Palm Bay.Rathmann said he sold the U.S. 1 dealership to "pare down"... (Florida Today)
Fremont General Announces Significant Developments Jul 3, 2007
July 2 /PRNewswire-FirstCall/ -- Fremont General Corporation (the "Company") (NYSE: ), doing business primarily through its wholly-owned industrial bank, Fremont Investment (the "Bank"), today announced the completion of the previously announced sale of the Company's commercial real estate lending business and outstanding commercial real estate loan portfolio to iStar Financial Inc. The Company also announced that effective June 29, 2007, Alan W. Faigin, the Company's Secretary, General Counsel... (PR Newswire)
Horsepower to the People Jun 28, 2007
You Are Viewing: Mergers, Low Volatility Add to Baldor's Appeal (Baldor Electric, BlackRock, L-3 Communications, iStar Financial, ConocoPhillips). (SmartMoney)
REIT Pays Top Dollar for Manhattan Property Jun 23, 2007
REALTOR Magazine Online: The real estate professional's business support tool. YOUR BUSINESS SUPPORT TOOL. (Realtor Magazine Online)
Fremont Sells Commercial Unit, Stock Leaps May 23, 2007
NEW YORK (Dow Jones) -- Fremont General Corp. shares jumped as much as 46% Tuesday after iStar Financial Inc. said it would buy the company's commercial real-estate lending business for $1. 9 billion in cash. (SmartMoney)
Fremont Aims for Fresh Start With Sale May 23, 2007
5 billion commercial loan portfolio to iStar Financial Inc. (nyse: - - ) for $1. 9 billion. (Forbes)
LBOs Attack Finance Company Bonds; Debt of SLM, American Express Unravels May 23, 2007
The others were Calabasas, California-based Countrywide, Capital One Financial Corp., a McLean, Virginia-based credit- card company, commercial real estate financer iStar Financial Inc. of New York, and insurance broker Marsh & McLennan Cos. also based in New York. (Bloomberg)
Movers: Companies in the news May 23, 2007
" Trading on Euronext climbed 34 percent in April from a year earlier to 22.2 million transactions, the company said, fueled by a rally in European markets. Euronext's first-quarter costs rose 4.5 percent to 165.5 million, it said, with 7.2 million of costs related to mergers and acquisitions. U.S. subprime lender sells real estate unit Fremont General, which was barred by U.S. regulators from offering mortgages to borrowers with poor credit, agreed to sell its commercial real estate unit for... (International Herald Tribune -- Business Asia)
Nasdaq hits six-year high May 23, 2007
Mortgage lenders climbed on Paulson's comments as well as news that Fremont General had agreed to sell its commercial real estate unit to iStar Financial for $1 ... IStar Financial climbed $1. (Los Angeles Times)
Still Looking for Some Action May 23, 2007
9 billion to iStar Financial (). It was a deal with no apparent losers, iStar shares on the rise as well after the company said the transaction would immediately boost earnings per share by at least a dime. (SmartMoney)
MGM Mirage Jumps on Deal News May 23, 2007
Fremont General () says it agrees to sell its commercial real estate lending business and outstanding loan portfolio to iStar Financial () for $1. 9 billion and participation interest. (BusinessWeek)
Fremont shares soar on stake, loan unit sales May 23, 2007
Fremont, whose exposure to home buyers with poor credit dragged down its earnings and stock price in recent months, said it would sell its commercial real estate lending business to iStar Financial Inc. for about $1. 9 billion up front plus an interest in the loan portfolio. (ABC News -- Wire)
Diomed wins court order vs. rivals in patent row May 23, 2007
IStar Financial Inc., a real estate lending and leasing company, will buy the commercial loan operation, Fremont said. Fremont, of Santa Monica, Calif. (Boston Globe)
Fremont General selling loan business for $1.9 billion May 23, 2007
NEW YORK - Fremont General Corp., said on Tuesday it had agreed to sell its commercial real estate lending business to iStar Financial Inc. for about $1. 9 billion, sending its shares soaring. (MSNBC -- Business)
Nasdaq closes at six-year high on deals May 23, 2007
U.S. housing stocks notched their biggest advance in almost a month as stocks of mortgage lenders such as Accredited Home Lenders gained on news that iStar Financial Inc. agreed to buy Fremont General Corp.'s commercial real estate business for about 1 ... Shares of iStar Financial rose 3. (Yahoo News -- Technology)
S&P again flirts with record close but ends lower May 23, 2007
9 billion to iStar Financial. The Santa Monica-based company has been dismantling its business because of troubles in the subprime mortgage sector. (USA Today -- Money)
Fremont sells loan unit for $1.9 billion, shares soar May 22, 2007
NEW YORK Fremont General Corp., said Tuesday it had agreed to sell its commercial real estate lending business to iStar Financial Inc. for about $1. 9 billion, sending its shares soaring more than 50 percent in premarket trading. (San Diego Union-Tribune -- Business)
Aviza Technology completes $55M credit facility Apr 18, 2007
The new credit facility replaces and refinances the company's revolving line of credit with Bank of America, N.A. and mortgage line of credit with iStar Financial Inc., which were due to mature in August 2007 and September 2007, respectively. The new credit facility is not to exceed an aggregate principal amount of $55 million and includes a two-year revolving facility of up to $44 million that is secured by accounts receivable, inventory and fixed assets; a three-year equipment term loan of up... (San Jose Business Journal, CA)
Sallie Mae's Just The Latest Apr 17, 2007
"Investment grade ratings are no longer a must-have requirement for large finance companies" looking to go private, Hendler says, adding that might make other strong LBO candidates, including commercial lender CIT Group (nyse: - - ), mortgage lender Countrywide Financial (nyse: - - ), and real estate investment trust iStar Financial (nyse: - - ). Shares of CIT were up 4% at midday, while shares of Countrywide were up 6% and iStar was up 0. (Forbes)
Some fans of Real stadium inked petition Apr 17, 2007
Real has since secured iStar Financial as a new investor. "It's important for cities, counties and states to be transparent when they make decisions, and this was not," she said. (Deseret News)
Beverly Hills Trophy Property Sets Record Sale Price at $500 Million Apr 13, 2007
"I have never seen a return like this -- and I don't think anyone else in the industry has either. These guys have enormous vision and they make major contrarian bets, with a track record of executing that is dazzling." The firm has also received backing from institutions such as Citigroup, iStar Financial, Aegon Insurance, Canyon Johnson Urban Fund (CJUF) and the California State Teachers Employee Retirement System (CaLSTERS). About 9900 Wilshire -- Beverly Hills 9900 Wilshire Beverly Hills... (PR Newswire)
Checketts, Real poised for stadium construction Apr 6, 2007
Real, however, quickly secured iStar Financial as a new investor. That land cost Real $20 million to $22 million for two pieces: private property from resident Bonnie Miller and the Ardell Brown RV park (per terms of the RV park sale contract, Brown gets to kick the first ball at the opening Real Madrid game). (Deseret News)
Real now wishing on iStar — as its investor Mar 23, 2007
By Amelia Nielson-Stowell and Lisa Riley Roche Deseret Morning News After keeping the name of their new investor under wraps for almost a week, Real Salt Lake officials said Thursday that iStar Financial will invest in the Major League Soccer team and stadium ... iStar Financial will help finance the first phase of the stadium project, which includes the 42-acre stadium. (Deseret News)
More of this story Mar 6, 2007
In addition to a paid trip to Washington for himself and one parent, Akshat received a 100 savings bond donated by Jay Sugarman, chairman and chief executive officer at iStar Financial, and a Webster s Third New International Dictionary donated by Merriam-Webster. Joshua received a 300 savings bond donated by Eastern Bank, a Merriam-Webster Collegiate Dictionary donated by Merriam-Webster, and a 40 Amazon. (Brockton Enterprise, MA)
iStar Financial Announces Tax Treatment of 2006 Dividends Jan 19, 2007
NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today the tax treatment of its 2006 common and preferred stock dividends. Common Stock Dividends During 2006, dividends for iStar Financial's common stock were $3 ... 445208 Preferred Stock Dividends Series D Preferred Stock During 2006, taxable dividends for iStar Financial's distribution of $2. (PR Newswire)
Supplemental Indenture Executed With Respect to iStar Financial Consent Solicitation Jan 10, 2007
NEW YORK, Jan. 9 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI) announced today that pursuant to its previously announced consent solicitation for certain series of its outstanding senior Notes, the Company has received the requisite consents to adopt the proposed amendments to the indentures governing each series of Notes ... The amendments will not become operative until iStar Financial accepts and pays for all consents received ... iStar Financial may amend, extend or, subject to... (PR Newswire)
iStar Financial Announces Further Extension of Consent Solicitation Jan 5, 2007
NEW YORK, Jan. 4 /PRNewswire/ -- iStar Financial Inc. (NYSE: ) announced today that it has further extended the consent expiration date with respect to a consent solicitation for its 7 ... As of 5:00 p.m. New York City time on January 4, 2007, iStar Financial had received consents from a significant majority in aggregate principal amount of each of its 7 ... iStar Financial may amend, extend or, subject to certain conditions, terminate the Consent Solicitation with respect to all of the series. (PR Newswire)
