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Aurora L. Alvarez

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FALCONE GROUP FINDS REAL ESTATE LAWSUIT FROM TOUSA CREDITORS COMMITTEE. FEBRUARY 2010. Boca Raton Fl. During 2005 TOUSA and entities controlled by Arthur and Edward Falcone created a joint venture to buy the homebuilding assets of Transeastern Properties. TOUSA was the controlling member of that entity and owned the overwhelming majority of its beneficial interest. However at the request of TOUSA the companies owned by Arthur and Edward Falcone ended their relationship with the joint venture in the summer of 2007, having agreed to exchange mutual releases for any claims they may have against each other. Arthur Falcone is CEO of the Falcone Group, with over 30 years of executive experience. His proven track record has lead to the company's success today as a vertical integrated real estate and land development organization with over 30,000 residential lots developed and over one billion dollars in sales.

FRESH MARKET BUILDS SOUTH BEACH STORE MARCH 2, 2010. MIAMI, FL South Beach residents will have a new grocery option later this year with the construction of a new Fresh Market store at 1800 West Ave. The $ 7 million, 28,000-square foot store, which will be primarily geared toward pedestrian traffic, will also include two levels of parking overhead. Greensboro NCX-based Fresh Market will occupy the block under a long term land lease, says Dale Scott senior executive vice-president of Deerfield Beach based Sikon Construction. Sidewalks.

MARCH 10, 2010-- FRACTURED CONDO UNITS ACQUIRED. A Chicago Bu has taken possession of 185 "fractured" condos in two separated deals totaling close to $ 15 million. RN Properties bought remaining units at La Terraza at Biltmore Condominiums and Portofino Condominiums in what expert suggest represents a growing trend in bulk condo sales. At this time of the year even two years ago, the story was vastly different. Brad Goff principal with Apartment Realty Advisors said that beginning in 2007, the so-called fractured condos were coming to the markets in droves as the demand for the units dried up following a period of overbuilding and conversion. "They were coming on the market and no one knew what to do with them or how to get out of them" Goff who partnered with ARA senior vice- president David Lord on both transactions. As the result he said the units sat on the market for months. They said the new acquisitions will be the same as other investors are coming to the market wanting to buy fractured condos.


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LIBERTY IN TALKS TO SELL US MALLS TO

EQUITY ONE INC...

FEBRUARY, 2010. Liberty International the UK's largest shopping mall owner is in talks to sell $ 560 Million shopping center business to Miami based real estate investment trust REIT as the next step in its planned demerger. Liberty is in advanced talks with Equity One a large US retail owner, to sell its property business based in Northern and Southern California. It hopes to finalize the deal in the next quarter. Liberty International earlier this month confirmed to the stock exchange a report in the Financial Times that it would separate in two separate businesses, effectively into a $ 3B Billion shopping center owner business and a 1 Billion London focused development business. The total portfolio compromised 2.5 million sq ft of which 93 % was occupied by area. Its headquarters are in San Francisco. Liberty is also looking at the future of its Chinese and Indian investment businesses. The company is expected to quietly run the businesses down with no additional funding beyond existing commitments, rather than search for an outright sale. Liberty said last summer that it expected rental and valuation deterioration in the US and was exploring methods to mitigate exposure. Liberty's demerger process has been broadly welcomed by analysts and shareholder groups, given the prospect of greater strength through specialization of its business units. Shares in Liberty yesterday closed down 3.6 at 471p.

SIMON COULD CORNER SOUTH FLORIDA MALL MARKET.... LETS SEE

MIAMI, FL - FEBRUARY 28, 2010. Simon Property Group's $ 10 Billion bid for General Growth Properties could be a game changer for South Florida more than other retail markets statewide. Simon owns 41 malls, outlets and shopping centers throughout Florida, while General Growth has just 15. Merging the portfolios of the two companies would give Simon an unparalleled position in South Florida. The acquisition would also give Simon the upper hand in a South Florida retail market where tenants are getting rent relief and other concessions from cash-strapped landlords. By eliminating a major competitor in General Growth, Simon would exert even more influence on national tenants who are trying to expand in South Florida. Simon's largest malls in South Florida include Sawgrass Mills in Sunrise and The Galleria in Fort Lauderdale, along with a minority stake in Aventura Mall. General Growth's presence in the region includes Kendall Town Center, Mizner Park in Boca Raton and Pembroke Lakes Mall in Pembroke Pines. Elsewhere in Florida both companies have a somewhat fragmented presence. In Orlando for example Simon has the Florida Mall and Orlando Premium Outlets, while General Growth has Altamonte Mall and Festival Bay Mall at International Drive. Simon's biggest malls around the state include Edison Mall in Fort Meyers, Tyrone Square Mall in St Petersburg and Pier Park in Panama City. General Growth's dominates middle market with malls such as Lakeland Square, Governor's Square in Tallahassee and Regency Square Mall in Jacksonville. "this lets Simon reset the rents and be more attractive to tenants they said.

VORNADO IN MALL MIXTURE.... interesting...

MARCH 10, 2010- Commercial Real Estate giant Vornado Realty Trust may bid for part of all of bankrupt mall operator General Growth Properties adding another big name to the mix of property landlords interested in buying the fallen owner of the South Street Seaport. Vornado's apparent interest turns up the heat on the auction that was already zizzling after Canada Brookfield Assets Management last week tossed its hat into the ring. Last month Simon Property Group the large mall developer in the U. S made an unsolicited $ 10 billion bid for General Growth, the nation # 2 mall operator, which has repeatedly rejected the offer. General Growth has since proposed splitting itself up, with Brookfield's help in an attempt to fend off Simon advances. Sources familiar with the matter said one way Vornado might enter the bidding is by teaming up with Brookfield and carving out some of the properties that complement the New York firm's roster of retail assets. Led by chairman Steven Roth Vornado has a diverse array of properties, including Manhattan Mall in Herald Square as well as Penn Plaza and the United Nation's headquarters. His involvement has been a bone of contention for Simon, which yesterday submitted a filling raising questions about his working with Brookfield on a competing offer. Bankruptcy court is expected to decide today if it will grant General Growth's board of directors a six-month extension to file a reorganization plan. Those moves come as General Growth is expected to be re-listed on the New York Stock Exchanges as soon as Friday the exchange has never re-listed a company that has to emerge from bankruptcy.