Regions Midwest
GM to Buy Properties in Detroit, Michigan, Issues Mortgage-Backed Line to Subsidiary
May 9, 2008

An 10-Q filing has confirmed GM's buy of three properties, including its Detroit, Michigan-based corporate headquarters, for a total of $826 million. The headquarters cost $626 million. The other $200 million went for Pontiac and Michigan-based administrative offices, according to the filing. In addition, the SEC filing reported that GMAC Financial Services was issuing a $3.5 billion senior secured credit facility to its wholly owned subsidiary Residential Capital L.L.C. or ResCap.

 
Recent Midwest Headlines
CMBS Veteran Launches Advisory Firm
May 16, 2008
Frederick Fellows has established Basalt Capital L.L.C. (Basalt) in Chicago, Ill., an investment management company focused on commercial real estate debt securities, the firm has announced.
GE Finances $67M for Offices
May 16, 2008
GE Real Estate has announced two office financing deals totaling $67 million.
Suburban Chicago's Purple Hotel Slated for Redevelopment
May 16, 2008
Inland Real Estate Acquisitions Inc. and TMK Development Ltd. have unveiled plans to acquire and redevelop the Purple Hotel in the suburb of Lincolnwood, Ill., just north of Chicago.
University of Chicago to Create $200 Million Center Honoring Late Economist
May 15, 2008 - Source: Crain's Chicago Business
The Milton Friedman Institute will eventually be housed in facilities now occupied by the Chicago Theological Seminary.
JV Formed to Develop Suburban Des Moines Retail
May 15, 2008
Capital Growth Madison Marquette of Minneapolis and DRA Properties L.L.C., an Ankeny, Iowa-based real estate company, have formed a partnership to develop about 500,000 square feet of retail space in Ankeny.