| 550 Maguire Refinance Funds
LOS ANGELES-Maguire Properties has completed a $550 million refinancing of its Wells Fargo Tower in Downtown Los Angeles that will provide $225 million in funding toward Maguire's $3 billion purchase of a portfolio of Southern California office buildings from Equity Office Properties. The new loan on the 1.4-million-sf Wells Fargo Tower is a 10-year fixed rate, interest-only financing at a rate of 5.68%. Maguire will realize net proceeds of the refinancing after repayment of an existing $250 million mortgage loan and payment of defeasance costs on the Wells Fargo Tower. Closing costs and loan reserves total approximately $290 million in the deal. .
Hope Lin with Utopia Mortgage and Real Estate in Irvine ...
Irvine, CA (PRWEB) April 3, 2007 -- Hope Lin with Utopia Mortgage and Real Estate in Irvine, California has recently expanded her offering of homes and properties for sale. Lin's local expertise and extensive real estate experience will benefit customers who are buying a home or selling an existing home. Due to the stabilization of home prices in many areas, the purchase of a home is now affordable for more buyers. Sellers likewise will find resources aplenty for effective service with Lin. In keeping with her efforts to better help her clients in marketing their property online, Lin has registered the following related phrases with the search engines: Irvine CA Real Estate and Irvine Real Estate. These phrases may look clunky, but they help the search engines find the customer's properties better online, and since 82% of real estate transactions begin online today, this registration is very important.
Construction boom ended in February: StatsCan
Canada's record-setting pace of construction came to a sharp halt in February, according to Statistics Canada, which said the value of building permits plunged to its lowest level in a year. The government agency reported Wednesday that municipalities issued $4.9 billion worth of permits in February, down 22.4 per cent from January. The level was 12 per cent lower than last year's monthly average, and the lowest since February 2006. "February's decline, the fastest in 13 months, occurred due to across-the-board decreases in both residential and non-residential sectors," Statistics Canada reported. All provinces but Manitoba expected a decline in their construction schedule, with six of them registering double-digit percentage declines.
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