Oak Park approves deal for downtown hotel
(Crain’s) — A little-known developer has struck an agreement with the village of Oak Park that clears the way for an $85-million hotel and condominium tower to be built in the west suburb’s downtown. The Oak Park Village Board voted earlier this week to approve a redevelopment agreement ...
Redemptions, other woes put RREEF on rough road
RREEF, the grand dame of real estate investing, is on shaky ground. One of its flagship funds — the $2.6-billion RREEF America III — might go bankrupt. This month, German department store chain Arcandor A.G. — a RREEF tenant through a sale-leaseback as part of a consortium — went ...
Global Hyatt changes name to Hyatt Hotels
(AP) — Global Hyatt Corp., the privately held hotel and resort company, said Thursday it has changed its name to Hyatt Hotels Corp. The renamed Hyatt Hotels is the parent of companies that own, operate, manage and franchise hotels, resorts and timeshare properties. Based in Chicago and ...
Ventas gets ratings boost, completes property sale
(AP) — Fitch Ratings on Wednesday raised the investment-grade ratings of Ventas Inc., citing steps the real estate investment trust has recently taken to shore up its capital position. The credit ratings agency upgraded its issuer default rating for Ventas and its subsidiaries to BBB from BBB-. ...
In brief: Opus North | Law firm sublease | Burnham plan republished
Opus Group: Local operation 'healthy' as sister firms file for bankruptcy protection Regional Opus Group operating companies in Washington, D.C., and Phoenix are filing for bankruptcy protection, the Minnetonka, Minn.-based parent company announced Tuesday. But Rosemont-based Opus North Corp. and ...
Condo developer Roszak files for personal bankruptcy
(Crain’s) — Evanston condominium developer Thomas Roszak has filed for bankruptcy protection after struggling to pay off his debts during the worst housing market in decades. Known for his projects in Evanston and downtown Chicago, Mr. Roszak said he has assets of $1 million to $10 million ...
