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Real Estate

Bank Books Reveal Depth of Problems

March 9, 2010 - Investors have been heartened to see troubled banks replace leadership or repay bailout money, but they still are finding hard numbers deep in the books that are reinforcing their more surface perceptions of the industry's "haves" and "have-nots."

Four Bank Failures Bring 2010 Total to 26

March 8, 2010 - Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.

Arriving in Familiar Territory

March 8, 2010 - Shannon Lowry Nagle’s first day as a partner in Fried, Frank, Harris, Shriver & Jacobson’s bankruptcy and restructuring practice may have been last week, but she’s no stranger to Fried Frank partners such as Gary Kaplan and Brad Eric Scheler.

Sun Capital Buys Arch Aluminum

March 8, 2010 - Sun Capital Partners has acquired Arch Aluminum & Glass Co. through a 363 bankruptcy sale.

Banks Sued Over Tribune LBO Debt

March 5, 2010 - Bondholders of media giant Tribune Co. are suing the banks that arranged the company’s leveraged buyout, claiming the banks knew the $8 billion in loans they arranged would make the company insolvent.

Failure to Cover Nonbanks Seen as Key Flaw of New Consumer Unit

March 4, 2010 - The original goal of providing uniform protections for all consumer credit is getting lost to lawmakers' preoccupation over where to place a new regulator.

Barclays Working on Three FDIC 'Note' Deals

March 3, 2010 - Barclays Capital is taking orders from investors on at least one Federal Deposit Insurance Corp. structured note deal with two others on the way as the government moves to monetize at least $4 billion worth of product.

CCMP Acquires Women's Fashion Retailer

March 2, 2010 - Corporate executives and buyout dealmakers are known for doing deals on the fly, but senior executives at CCMP Capital Advisors and Houston retailer Francesca’s Collections took the idea to another level.

Blue Wolf, Atlas Strike Timber Deal

March 1, 2010 - Blue Wolf Capital and Atlas Holdings’ shared venture, Northern Pulp Nova Scotia, spent $82 billion to buy Canadian forestland from Neenah Paper Inc.

TH Lee Goes Out for Burgers

February 26, 2010 - Thomas H. Lee Partners will acquire CKE Restaurants Inc. for $928 million, including the assumption of more than $300 million in net debt.

Walgreen Will Buy Duane Reade

February 17, 2010 - Walgreen Co. has agreed to buy Duane Reade's 257 New York City area stores from a group of investors including Oak Hill Capital Partners for about $1.075 billion, which includes the assumption of debt.

TBW Creditors Want to Sue Former Executives

February 16, 2010 - Creditors of Taylor Bean & Whitaker are seeking permission from a bankruptcy judge for authority to sue former company insiders.

Hedge Gains Prompt New Look at Bottom Line

February 12, 2010 - Among the small tribe of analysts and consultants who follow such things, Wells Fargo holds a reputation for savvily hedging the value of its mortgage servicing portfolio. In most years, that means that the company's hedges tidily cancel out any losses in the value of its mortgage servicing rights.

GMAC Goes for $1B HY Drive-By

February 9, 2010 - GMAC plans to price as much as $1 billion in junk bonds as early as today in an effort to refinance or retire existing debt.

CRE Losses Could Pass $150B Next Year

February 9, 2010 - Losses on commercial real estate loans could top $150 billion by the end of 2011, meaning banks have just started dealing with the problem, Moody's Investors Service said.