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BUSINESS
By Jay Hancock | July 17, 2005
MANY interesting and alarming things have happened to the economy in the last 15 years. But we haven't had a good old-fashioned commercial real-estate crash, the kind that had bank regulators popping Pepcid while half-finished office buildings languished for months or years. Are we paving the way for one now? Commercial real estate valuations are coming on strong even as rents and occupancies in many markets are only so-so. Of more than 200 Maryland-based mutual funds, six of the top 10-best performing in the second quarter were real estate funds, according The Sun's quarterly survey.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | July 15, 2014
Montana-based financial services firm Davidson Companies said this week its investment unit will open an office in downtown Baltimore focused on real estate investment banking, with the hope of creating a base from which to expand the company's East Coast presence. Baltimore has a strong historical presence in the industry, providing the company with a deep pool of potential hires, said Keith Getter, 52, a veteran of Legg Mason and Stifel Nicolaus, who is to head the D.A. Davidson & Co. real estate group from the Baltimore office.
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NEWS
By JoAnna Daemmrich and JoAnna Daemmrich,SUN STAFF Sun staff writer Joan Jacobson contributed to this article | March 19, 1996
Baltimore Comptroller Joan M. Pratt is hiring her campaign manager and former investment partner in a string of rental properties to run the city's real estate office.Julius Henson, a rising political strategist who was the architect of Ms. Pratt's victory to the city's third-highest elected position, is to start this week.As real estate officer, Mr. Henson will oversee the city's portfolio of 350 buildings valued at $3.2 billion. He will report directly to Ms. Pratt and will be paid $79,900 under a one-year contract up for approval tomorrow by the Board of Estimates.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | July 12, 2014
Harry E. Klages, a World War II pilot who owned Cathell Bros. & Co. Inc. and was a longtime volunteer with the Friends of Jerusalem Mill, died Monday at Upper Chesapeake Medical Center of complications from a fall. He was 93. The son of Harry E. Klages, a Chesapeake Bay pilot, and Lillian Seth Klages, a homemaker, Harry Ernest Klages was born in Baltimore. When he was 8 months old, his mother died, and his father turned him over to an uncle and aunt who raised him in the city's Mayfield neighborhood and also at another home on the Magothy River.
NEWS
By Antoinette Martin and Antoinette Martin,NEW YORK TIMES NEWS SERVICE | April 1, 2002
NEW YORK - Twenty years ago, when I was a banker," recalled David Csontos, a managing director at Insignia/ESG, "real estate was a bad sector. Everybody was scrambling to get out." Now - in New Jersey, at least - said Csontos, who specializes in advising those thinking of investing in commercial real estate, it is the opposite. Investors are elbowing each other to get in. With the rate of return on stock market investment somewhere between rotten and "recovering," and bonds generating 3 percent to 5 percent, commercial real estate has taken on luster as a stable, advantageous investment, according to people in the field.
NEWS
By Robert Kuttner | March 11, 1992
A LITTLE noticed special provision in pending tax and budget legislation would restore tax breaks for real estate that were repealed in the bipartisan 1986 Tax Reform Act.Before 1986, there was a brisk market in paper real-estate tax losses. A developer could put little of his own money into a building, falsely claim the property was losing value over time ("accelerated depreciation") even though it was actually appreciating -- and then sell the paper losses to wealthy absentee investors in exchange for cash.
BUSINESS
By Herb Greenberg and Herb Greenberg,Chronicle Features | May 24, 1991
Now that life insurer First Executive is a basket case, having filed for Chapter 11 bankruptcy reorganization, what are the next insurance nightmares that short-sellers are dreaming up? I checked with a short who specializes in financial scams -- he had been screaming for years that First Exec was headed for trouble because of its junk-bond holdings and his message is: "Junk bonds are going to seem like Sunday School compared with commercial real estate."This short, who doesn't want to be identified, isn't the only one talking about a looming commercial real-estate debacle in the insurance industry.
NEWS
By Robert Kuttner | November 30, 1990
THE DUBIOUS honor of officially declaring the economy in recession used to belong to the National Bureau of Economic Research, a venerable, official-sounding private institute based in Cambridge, Mass. NBER's arbitrary definition two consecutive quarters of decline in economic output had the virtue of being precise and intuitively approriate.By that test, we are not quite in recession yet. But last Tuesday, the upstart National Association of Business Economists jumped the gun and declared a recession on the basis of a far softer, but more contemporary, indicator a poll!
EXPLORE
January 14, 2013
Dawn Wooldridge of Keller Williams American Premier Realty in Bel Air has earned the prestigious Certified Distressed Property Expert designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by Wooldridge will help benefit Harford County-area residents and communities. Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property.
NEWS
By Erica L. Green, The Baltimore Sun | January 1, 2011
Helen Anna Ferrell, a retired real estate agent, died of lung cancer Dec. 20 at the Cockeysville home of her daughter. She was 80. Helen Anna Ena was born in Baltimore and spent her childhood in Highlandtown with her seven siblings. She graduated from the Catholic High School of Baltimore in 1947 and married Frank J. Ferrell in 1950. The couple, who celebrated their 60th wedding anniversary in October, raised three children in Lutherville. Mrs. Ferrell obtained her real estate license in 1975, and specialized in residential real estate.
BUSINESS
By Natalie Sherman, The Baltimore Sun | June 10, 2014
Like the sound of a Greek Revival mansion with an "amazing view"? Want to own a "piece of Baltimore history"? Willing to look beyond a "scarred exterior"? Baltimore Housing has launched a marketing campaign for a select group of so-called "eclectic" properties owned by the city, in an effort to highlight the value hidden in the sea of roughly 1,000 vacant buildings it has listed for sale. The 18 sites, drawn from across the city, include the 1838 Upton Mansion, two former schools, two firehouses, a brick warehouse, and a one-time library, as well as some vacant lots open for new construction and several blocks of rowhouses traditionally associated with the Vacants to Value program.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | June 4, 2014
Michael H. Weinman, a retired real estate developer who was a co-manager of the family-owned Morris Weinman Co., died Sunday of heart failure at his Worthington Valley home. He was 78. Michael Henry Weinman was born and raised in Baltimore and was a 1953 graduate of St. Paul's School. In 1957, he earned a bachelor's degree in business from the University of North Carolina at Chapel Hill. He served in the Army for a year at Fort Knox, Ky., before going to work in 1958 for Sunny's Surplus, which was a family-owned retail business.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | June 3, 2014
Beatrice A. Schwartz, a retired real estate broker and volunteer, died May 22 of complications from dementia at Milford Manor Nursing Home. She was 96. The daughter of Romanian immigrants, Beatrice Albin was born in Chicago and moved with her parents when they established a small clothing store, which later became Lee's Surplus. Mrs. Schwartz was a Western High School graduate and in 1937 married Maurice Schwartz, who was a businessman and musician. He died in 1990. She later earned her real estate license and was the founder of Albin Realty, where she specialized in helping low-income families purchase homes.
NEWS
By Natalie Sherman, The Baltimore Sun | April 25, 2014
Scott Dorsey, the chairman and CEO of Merritt Properties, knows he sometimes meets raised eyebrows when he identifies himself as a developer. As a leader of a company with the largest privately held real estate portfolio in the state, it's an attitude he wants to change. "There's been a perception that we don't really need more growth," he said. "We do need growth. It needs to be done right. " Merritt Properties, which was founded by his cousin Leroy Merritt, had 12 workers when Dorsey joined in 1972 and today employs about 160 people.
TRAVEL
By Michelle Deal-Zimmerman, The Baltimore Sun | April 16, 2014
Is Ocean City the most dangerous place to live in Maryland? Even more dangerous than Baltimore? The surprising answer is yes, at least according to analysis by Movoto , a California-based real estate brokerage firm known for its data-based research of various trends and market conditions across the nation. The company this week released its list of the safest places to live in Maryland. Movoto said its report looked at places with populations of at least 5,000 and then ranked them based on FBI crime statistics in 2012.
NEWS
By Jacques Kelly, The Baltimore Sun | March 23, 2014
Eufrosyne Cavacos Breskow, a retired real estate sales agent and design gallery owner, died of stroke complications March 18 at Dove House in Westminster. The former Roland Park and Mount Vernon resident was 85. Born in Baltimore and raised in Hampden, she was the daughter of Constantine Cavacos and Pothiti Clentzos Cavacos. Her parents owned and operated a popular drugstore, soda fountain and candy store at Roland Avenue and 36th Street. As a young woman, she worked at the store and its marble-clad soda fountain.
NEWS
By Jacques Kelly, The Baltimore Sun | April 28, 2011
Mary Callis Eyring, a retired residential real estate sales agent and former president of a hospital auxiliary, died of cancer Sunday at Gilchrist Hospice Care. She was 79 and lived in the Village of Cross Keys. Born Mary Callis in Catonsville, she was the daughter of George R. Callis, an architect who designed the Baltimore School for the Arts, and Elizabeth Eisenhardt, a homemaker. She was a 1950 graduate of Notre Dame Preparatory School and attended Bradford Junior College and Goucher College as an adult.
BUSINESS
By Ian Duncan, The Baltimore Sun | January 30, 2014
A federal judge authorized a class-action suit Wednesday against one of the state's largest real estate groups, after a Howard County couple accused it of running a half-million dollar kickback scheme with a title insurance company. A suit filed in Baltimore by home buyers Christine and Patrick Baehr alleges The Creig Northrop Team, which has offices across central Maryland, of illegally accepting payments from Lakeview Title in exchange for sending the firm business. "We are pleased with the court's ruling, and we will continue to to vigorously prosecute this class action on behalf of our clients," said the couple's attorney, Gregory T. Lawrence of Baltimore law firm Conti Fenn & Lawrence.
BUSINESS
By Natalie Sherman, The Baltimore Sun | January 17, 2014
The days of the cushy corner office for top law partners may be numbered. Maybe. On average, law firms still occupy up to three times the space per worker as companies in banking, finance, insurance and technology, according to a national study by commercial real estate broker Cushman & Wakefield. But with increasing pressure on firms to lower costs, that's expected to change, which has significant implications for office space in downtown Baltimore. Law firms occupy about 13 percent of Baltimore's top-tier office space, with many smaller firms leasing in older buildings, according to a 2013 report by commercial real estate firm Jones Lang LaSalle.
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