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Fidelity to recapitalize FNIS

By Inman News, Wednesday, December 8, 2004.

Fidelity National Financial today announced that its board of directors has approved a plan to recapitalize its subsidiary, Fidelity National Information Services (FNIS), and to pay a special cash dividend to Fidelity stockholders. FNIS is the holding company for Fidelity's technology solutions, processing services and information services businesses.

Under the terms of the recapitalization plan, FNIS will enter into up to $2.8 billion in senior secured credit facilities, for which indicative commitments have been received, with a consortium of participating lenders.  more...

Nevada apartments sell for $31 million

By Inman News, Wednesday, December 8, 2004.

Hendricks & Partners negotiated the sale of Cabo, a 360-unit apartment community in Henderson, Nev.

The value of the transaction was approximately $31.3 million.

The property is located at 2120 Ramrod Ave.

Deerfield, Ill.-based Cabo Associates LP sold the property to Phoenix, Ariz.-based VIF Broadstone Green Valley LLC. 

Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties.

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Entertainment co. renews East Coast lease

By Inman News, Wednesday, December 8, 2004.

Feld Entertainment, the parent company of Ringling Bros. and Barnum & Bailey, Disney On Ice, and Disney Live!, has renewed its 114,511-square-foot warehouse lease in Jessup, Md.

The value of the transaction was not disclosed.

In addition to renewing, Feld Entertainment expanded operations at the warehouse, located at 8230 Sandy Court, to assume occupancy of the entire building through Sept. 30, 2009.  more...

Ownership shifts at SoCal industrial park

By Inman News, Wednesday, December 8, 2004.

An 86,327-square-foot industrial park known as Centerpark Business Plaza has been sold in Escondido, Calif.

The value of the transaction was $8.7 million.

The 4-building, multitenant property is located on 4.7 acres at 1201 through 1291 Simpson Way.

The buyer was Snow-Wyne Industrial Park, a California general partnership. The seller was Fowler Flanagan Centerpark Associates.

Colliers International and Coldwell Banker Commercial represented the seller. Grubb & Ellis/BRE Commercial and Lee & Associates represented the buyer.  more...

Crackdown on mortgage-elimination scams Premium Content

By Glenn Roberts Jr., Wednesday, December 8, 2004.

Federal and state investigators are targeting schemes that claim to erase a homeowner's mortgage debt through creative paperwork. What some of these business models don't advertise is that their programs can put consumers at risk of foreclosure and even fraud.

Dubbed "mortgage elimination," the schemes have caught the eye of the FBI, which has been working with the title industry to snare those firms that are taking advantage of unsuspecting homeowners, Inman News has learned.

Dwight Bickel, a lawyer for LandAmerica Financial Group, Inc.  more...

Financial companies combat e-mail fraud Premium Content

By Samantha Peterson, Wednesday, December 8, 2004.

Just more than a year ago, phishing schemes caught most financial institutions by surprise, and quickly developed into wide-scale attacks.  more...

Lead management technology grows up Premium Content

By Jessica Swesey, Wednesday, December 8, 2004.

Editor's note: With more consumers starting their home search on the Internet, online lead generation and management has morphed into a sophisticated business as agents, brokers and real estate companies scramble to adopt the new channel. This three-part series examines the changing nature of online lead generation as local Internet search becomes more relevant, more brokers get involved in lead systems, and more technologies emerge.  more...

Tech exec proud not to be an attorney

By Inman News, Wednesday, December 8, 2004.

Eric Antonow, president and CEO of Katabat in Chicago has developed the company into a leading provider of Web site and outsourced technology services for real estate companies.  more...

Economy on track for robust growth in '05 Premium Content

By Inman News, Wednesday, December 8, 2004.

Despite recent disappointing job gains, the nation's economy will see continued steady growth averaging 3.9 percent during 2005, according to Freddie Mac's latest economic outlook.  more...

New program aims to boost home ownership in Texas

By Inman News, Wednesday, December 8, 2004.

The Texas Association of Realtors on Tuesday announced a partnership with Fannie Mae and the Texas Department of Housing & Community Affairs that aims to help more Texans become first-time homeowners.  more...

North America leads world in spam Premium Content

By Inman News, Wednesday, December 8, 2004.

Sophos, an anti-virus, anti-spam and policy-based network security provider, reports today that the top threats affecting computer users in 2004 were on average more inventive, with nastier repercussions. From the virus front, Netsky-P worm, which was first seen in March, has accounted for almost a quarter of all virus incidents reported, making it the hardest hitting virus of 2004, the company said.  more...

Real estate a top investment choice, says poll Premium Content

By Inman News, Wednesday, December 8, 2004.

Real estate is the top place to put your money, according to a quarterly survey of about 1,100 investors conducted for the National Association of Investors Corp.

About 22 percent of respondents selected real estate as the best industry to invest in now, 39 percent selected real estate as one of the top three best investment opportunities, and 54 percent said the industry's past performance is an indication of future promise.

Pharmaceuticals and technology also ranked high in this latest Voice of the American Shareholder poll.  more...

Real estate purchases rise

By Inman News, Wednesday, December 8, 2004.

Overall mortgage applications increased 3.4 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index increased by 6.6 percent to 490.9 from 460.3 the previous week. The seasonally adjusted refinance index decreased by 1.1 percent to 1,890.6 from 1,912.3 from one week earlier.  more...

Overnight real estate rates continue descent

By Inman News, Wednesday, December 8, 2004.

Long-term mortgage interest rates were lower Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.22 percent.

The 30-year fixed-rate average dropped to 5.32 percent, and the 15-year fixed-rate sank to 4.77 percent. The 1-year adjustable was down at 3.29 percent.

The 30-year Treasury bond yield dropped to 4.89 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...

Homeowner faces lawsuit over sidewalk injury

By Robert Bruss, Wednesday, December 8, 2004.

On a bright sunny morning, as Mrs. Josephine Caloroso was walking past the home of Larry Hathaway, she tripped over a slight crack in the sidewalk and was injured. She and her husband brought this premises liability and loss of consortium lawsuit against Hathaway.

They alleged negligence for failing to warn of the allegedly dangerous sidewalk condition. Evidence presented at the trial show the elevation along the edge of the sidewalk crack was from zero to 0.4 (or 7/16) of 1 inch.  more...

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