Sears Securitizes Its Brand Names: BusinessWeekSears Brand BondsTo offer some perspective on the potential implications of this move I compare Eddie Lampert's recent "Sears Bond" issue with David Pullman's 1997 "Bowie Bonds." I hope this will lead to new ideas on how to monetize the brand portfolios of other big...
This article elaborates the concept of knowledge activism as a way of understanding effective health and safety representation within the current Ontario legal regime of internal responsibility. Based on interviews with unionized health and safety representatives in the auto industry, we suggest that knowledge activism is...
Ramius Capital has acquired a $100 million junior mezzanine slice of Bane of America's $825 million mortgage on Sears Tower. Market sources said Ramius bought the debt at terms that will provide it with a nominal yield in the mid-teens. It's not clear ...
NEW YORK, Feb. 2 /U.S. Newswire/ -- William A. Gray and Eugene Y.Ferrer have joined the Securitization and Structured Finance Practiceof the New York office of McKee Nelson LLP as partners. The movereunites Gray and Ferrer, formerly partners at Weil Gotshal & Manges,with McKee Nelson partners Edward M. De Sear...
Business Editors NEW YORK--BUSINESS WIRE--Nov. 3, 2003 Citigroup said today that it has completed the previously announced acquisition of the Sears Credit Card and Financial Products business. The purchase price of $31.8 billion, at closing, included a 10% premium on Sears private label and bankcard credit...
NEW YORK, June 26 /U.S. Newswire/ -- Laurence B. Isaacson, formerhead of structured finance and securitization at Fried Frank HarrisShriver & Jacobson, today announced that he is joining McKee NelsonLLP. This move reunites Isaacson and his former mentor and partner,Edward M. De Sear, who joined McKee Nelson a month...
WASHINGTON, May 23 /U.S. Newswire/ -- McKee Nelson LLP announcedtoday that Edward M. De Sear, widely regarded as one of the mostprominent leaders in the structured finance industry, is joining theSecuritization & Structured Finance Practice of the New York officeof McKee Nelson LLP. De Sear, former chairman of the...
TORONTO, ONTARIO, Oct 17, 2002 CCNMatthews via COMTEX Sears Canada (TSX: SCC) today announced its unaudited third quarter results. Earnings for the 13 week period ended September 28, 2002, excluding non-comparable items were $10.2 million or 10 cents per share compared to a...
A General Growth Properties partnership has tapped UBS Warburg to provide an $87 million loan on a Texas mall. The floating-rate mortgage will finance the 1.2 million-square-foot Town East Mall in Mesquite. UBS will securitize the loan, which is scheduled to close in...
Morgan Stanley has originated a $53.2 million fixed-rate loan on a Pennsylvania shopping mall owned by Crown American Realty. Morgan Stanley will securitize the 10-year mortgage, which carries a 7.6% coupon. The loan is interest-only for the first two years. ...
Deutsche Bank has originated a $185 million floating-rate mortgage on three shopping centers owned by Prime Property Fund. Prime Property used the proceeds to retire floating-rate debt on the properties. Two of the existing mortgages had been originated by FleetBoston Bank, while the...
Bank of America has written a $175 million fixed-rate mortgage on a New Jersey mall owned by a partnership between Rouse Co. and Rodamco North America. The partnership used the proceeds to retire a $102.5 million loan that Goldman Sachs securitized in 1997....
Deutsche Bank has agreed to provide a $160 million fixed-rate mortgage on a redeveloped office/retail complex in Boston. Deutsche and the borrower, Abbey Group of Boston, have signed off on most of the loan terms. But Abbey, a big New England developer that ...
J.P. Morgan Chase has originated a $79 million mortgage on an Idaho regional mall owned by J.P. Realty. The 10-year mortgage has a 6.64% coupon and a 30-year amortization schedule. Chase will securitize the loan. The 1.2 million-square-foot mall, located in Boise, is...
A New England developer is looking for a $150 million mortgage on a former Sears distribution facility in Boston that is being turned into an office/retail complex. Abbey Group is hunting for an intermediate-term, floating-rate loan on the facility, which is...
Northwestern Mutual has agreed to provide $76 million of mortgage financing to General Motors Pension Trust to finance a mall in Reno, Nev. The long-term, fixed-rate loan is backed by the 900,000-square-foot Meadowood Mall. The 20-year-old property is anchored by Sears, J.C. Penney ...
Continuing their budding relationship, Goldman Sachs and Lehman Brothers are teaming up to provide a $300 million loan to a General Growth Properties partnership. The long-term mortgage will be secured by a portfolio of shopping malls that the Chicago REIT owns in partnership...
CHICAGO -- Sears' credit-card delinquency rates continue to improve. But apparel sales in its full-line stores and sales in its auto parts outlets have been softening. Despite delinquencies in its Master Trust securitized credit portfolio, which represents about a third of its $27 billion credit-card business, Sears' hopes for strong...
CHICAGO -- Sears' credit-card delinquency rates continue to improve. But apparel sales in its full-line stores and sales in its auto parts outlets have been softening. Despite delinquencies in its Master Trust securitized credit portfolio, which represents about a third of its $27 billion credit-card business, Sears' hopes for strong...
Word is that UBS Securities is working on a $75 million securitization involving Rego Park Plaza, a retail property in Queens, N.Y., that is owned by Alexander's Inc. The seven-year financing, scheduled to hit the market late this month, will pay off a construction loan that...
Articles 1998-01-12
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