Beverly Hills Development in Doubt

A high-profile British developer has defaulted on a $365 million loan for prime land it bought in Beverly Hills as part of a plan to build luxury condos.

California Cities Cut Police Budgets

With a slowing economy and housing woes, some California cities have targeted public-safety budgets that in the past were off-limits to the budget ax.

REIT Spinoff Is Proposed for Target

Activist investor William Ackman proposed spinning off the land Target owns under its stores into a separate real estate investment trust.

Wynn Builds Resort as Las Vegas Slumps

Wynn Resorts is moving ahead on a $2.3 billion Las Vegas resort at a time when rival casino companies are pulling back on projects.

Beverly Hills Development Is in Doubt After Default

Underscoring the deepening woes in commercial real estate, a high-profile British developer has defaulted on a $365 million loan for prime land it bought in Beverly Hills last year as part of a plan to build luxury condominiums.

Sale of Renaissance Center May Not Be Enough for GM

GM wants to unlock its equity in the five Renaissance Center towers it owns in Detroit.

Real-Estate Slump Thrusts Lenders Into Unfamiliar Roles

Many lenders will endure unanticipated struggles in coming years as the souring economy pushes commercial real-estate projects into default on loans.

Gramercy, SL Green Start Split

SL Green Realty began the separation process from its ailing commercial-property-finance spinoff, in another sign of the increasingly grim outlook for the group of lenders in that specialized area.

In Chicago, Trump Hits Headwinds

Trump’s tallest construction project, a 92-story Chicago skyscraper, is facing challenges as loans come due.

General Growth Gets Some Help

The two board members who took top executive posts at General Growth this week will likely inspire confidence from lenders, say analysts.

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