Items Tagged with 'iStar'


  • Marcos Alvarado named iStar chief investment officer

    Will oversee originations and drive growth for across the firm’s portfolio
    iStar announced Tuesday that Marcos Alvarado joined the firm as its chief investment officer. Alvarado will serve as a member of the senior executive team where he will oversee originations and growth across the company's diversified $5 billion investment portfolio.
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  • Lennar ordered to pay more than $100 million to iStar in 2005 land row

    Homebuilder recently set aside $140 million for litigation expense
    The U.S.Court of Appeals for the Fourth Circuit ordered Lennar to pay more than $100 million to iStar to settle a lawsuit that stretches back to 2005. According to details published Friday by iStar, a real estate investment trust, the Court of Appeals upheld a lower court’s decision in the lawsuit that stemmed from a soured land deal from more than a decade ago.
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  • iStar hires new COO/CFO to lead strategy

    Geoffrey Jervis brings extensive background in real estate finance
    As iStar prepares its new strategy, company CEO says why he thinks Jervis will play a key role in the success of the program. Jervis’ extensive background as a company executive in the real estate sector paved the way to his current position.
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  • Fitch Downgrades iStar Rating, Default Lingers

    Fitch Ratings downgraded iStar Financial’s [stock SFI][/stock] Issuer Default Rating and reported that default appears probable for the commercial real estate investor. Fitch cited a weakened liquidity position for iStar, a Real Estate Investment Trust (REIT) that raises equity capital from leading institutional and high-net worth investors, sending the rating to double-C from a B-minus, and Fitch removed iStar from Rating Watch Negative, according to a release.
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  • Mortgage REIT Insider: Dividends Dry Up

    The commercial real estate bust continues to take its toll, particularly for the New York-based commercial mortgage REITs. This week, three of the major commercial mREITs announced that realized taxable losses had all but eliminated their dividend requirements for the rest of the year. Arbor Realty Trust [stock ABR][/stock] cut its third-quarter dividend to just $0.24/share, a 61 percent reduction in its quarterly payout. That payout will be Arbor’s last dividend for 2008, as the company doesn’t plan to pay a fourth-quarter dividend.
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  • Mortgage REIT Insider: Thornburg Needs More Time

    On Monday, Thornburg Mortgage [stock TMA][/stock] admitted that it will be June 2 before it can report first quarter results. The company said was unable to file its Form 10-Q because it requires additional time to prep its valuation analysis for a recent capital raise (completed at the end of March), and to also determine just how to account for that transaction.
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