Real Estate Update - November 4, 2009



*Apartments, fractured condo project in California trade for $17 million

*Luxury apartment complex in Torrance sells for $28 million in receiver's sale

*Florida lenders and developers reach agreements on troubled real estate projects

*LA apartment complex sold out of foreclosure for $20 million

*Santa Ana building sells for $31 million, sold for $83 million in '07

*Starwood Capital wins rights to Corus Bank assets valued at $2.77 billion


*Australia's Future Fund invests $4 billion in distressed assets

*CIT Files Bankruptcy; U.S. Unlikely to Recoup Money

*Santa Fe Springs industrial building gets $13 million refinancing

*Nashville West retail center restructures $90 million debt deal

*CIC invests $2 billion in distressed asset-focused Goldman fund


*FDIC releases guide on prudent commercial real estate workouts

*White House announces steps to channel loans to small businesses

*Bank regulators to start pushing banks toward CRE loan workouts

*FDIC chair says secured creditors should pay for failures

Please see full update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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