South Bay Realestate News – Real Money: Kimco, Vornado,

November 12th, 2011 05:00am

Real Money: Kimco, Vornado, American Capital Each Pull in $1 Bil. or More
Kimco Realty Corp. in New Hyde Park, NY, closed on a $1.75 billion unsecured revolving credit facility replacing both the company's $1.5 billion unsecured U.S. credit facility and a $250 million Canadian credit facility. The new facility, which can be increased to $2.25 billion through an accordion feature, is scheduled to mature on Oct. 27, 2015, with a provision to extend for an additional year. Interest accrues at an annual rate of LIBOR plus…
Mark Heschmeyer

Fine Wine Turned to Vinegar
Premier Pacific Vineyard Management LLC of Napa, CA, is ceasing all operations at its 36 vineyards in California and Oregon by the end of the year and letting go 120 employees.Premier Pacific is a CalPERS (California Public Employees Retirement Systems)-backed venture that was formed in 2002 to develop and then sale the fine wine vineyards. CalPERS, which is in the process of restructuring its real estate investments, has decided to cut its losses…
Mark Heschmeyer

The Swig Company Receives Energy Star Nod for Mountain Bay Plaza
The Swig Company received Energy Star certification for its Mountain Bay Plaza office building at 444 Castro Street in Mountain View, CA.To qualify for Energy Star certification, a building must earn a 75 or higher on EPA’s 1-100 energy performance scale. This would mean the building performs better than at least 75% of similar buildings nationwide. Commercial buildings that earn the Energy Star use an average of 35 percent less energy than…
Luis Armendariz

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