Fog Cutter Capital Group Inc. Reports Third Quarter 2008 Operating Results

Fog Cutter Capital Group Inc. reported a net loss of $4.4 million or $0.55 per share for the three months ended September 30, 2008, compared to net income of $65,000 or $0.01 per share for the third quarter of 2007. The Company reported a net loss of $9.2 million or $1.15 per share for the nine months ended September 30, 2008, compared to a net loss of $7.0 million or $0.88 per share for the same period of 2007. The Company’s Fatburger restaurant... 

American Realty Investors, Inc. Reports Third Quarter 2008 Results

American Realty Investors, Inc. a Dallas-based real estate investment company, reported net income for the three months ended September 30, 2008. ARL reported a net loss applicable to common shares of ($8.5 million) or ($0.80) per diluted share for the three months ended September 30, 2008, as compared to a net loss applicable to common shares of ($3.4 million) or ($0.33) per diluted share for the same period ended 2007. In addition, the Company reported... 

Transcontinental Realty Investors, Inc. Reports Third Quarter 2008 Results

Transcontinental Realty Investors, Inc. a Dallas-based real estate investment company, reported net income for the three months ended September 30, 2008. TCI reported a net loss applicable to common shares of ($6.9 million) or ($0.85) per diluted share for the three months ended September 30, 2008, as compared to a net loss applicable to common shares of ($4.7 million) or ($0.58) per diluted share for the same period ended 2007. In addition, the Company... 

Equity Based Services, Inc. Thaws Credit Freeze

Equity Based Services, Inc. announced an equity recapitalization of its AMS IV Self Storage facility in Austin, TX. The property was originally financed by a large European Bank and was refinanced with a Regional Midwestern Lender. “Lenders are definitely more cautious than they were a year ago, but, we are still closing loans. We are placing debt not only on new acquisitions, but also on existing projects which are generally difficult to refinance.... 

Worthington to Sell Interest in European Steel Processing Joint Venture

Worthington Industries, Inc. announced that its Worthington Steel Company has agreed to sell its 49% equity interest in Canessa Worthington Slovakia to its partner in the joint venture, The CLN Group. The European steel processing joint venture was formed in August 2007 and operated a facility in Kosice, Slovakia. “This was a very amicable parting of ways,” Mark A. Russell, Worthington Steel Company president said. “We continue our good relationship... 

The PMI Group, Inc. Announces Completed Sale of Australian Operations to QBE Insurance Group Limited

The PMI Group, Inc. announced the completed sale of its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited (“QBE”). The aggregate sale price is U.S. $920 million, 80% payable in cash and 20% payable in the form of a note* issued by QBE. This transaction enhances PMI’s overall liquidity and supports its U.S. mortgage insurance operations. For the quarter ended September 30,... 

FNC(R) to Help BancorpSouth with Mortgage Appraisal Processes

BancorpSouth, one of the southeast region’s largest banks, will use FNC® technology to ensure regulatory compliance while streamlining its multi-channel appraisal process for their retail and home equity channels. Mortgage technology company FNC, Inc., creator of Collateral Headquarters(TM) (CHQ) — a workflow solution designed specifically for regional and community mortgage lenders — signed the Tupelo, Miss.-based bank on Sept.... 

Equity One Closes $227 Million Unsecured Revolving Credit Facility and $65 Million Ten-Year Mortgage Financing

Equity One, Inc., an owner, developer, and operator of shopping centers, announced today that it has closed a $227 million unsecured revolving credit facility with Wells Fargo Bank serving as Administrative Agent and Sole Lead Arranger. The new facility has a three-year term with a one-year extension option. In addition, the facility includes an accordion feature under which it can be expanded to $400 million. Borrowings under the facility are priced... 

The Guardian Life Insurance Company of America Agrees to Invest $30 Million in Kennedy Wilson

The Guardian Life Insurance Company of America (Guardian), has agreed to purchase a major interest in the real estate services and investment firm of Kennedy Wilson. The announcement came today from William McMorrow, chairman of Kennedy Wilson and Thomas Sorell, Executive Vice President & Chief Investment Officer of Guardian. Under the terms of the transaction, Guardian will purchase $30 million of convertible subordinated debt in Kennedy Wilson.... 

Brookwood Financial Partners, L.P. Continues its Lot Acquisition Strategy with the Purchase of Calusa Creek

Brookwood Financial Partners, L.P. announced that its affiliate, Brookwood Value Partners, LLC, has made its second purchase of residential lots in Southwest Florida. Brookwood closed on the acquisition of 106 single-family lots, 118 townhome lots and one commercial lot in Calusa Creek, a planned residential community in Punta Gorda, Florida. In August of 2008, Brookwood purchased 214 residential lots, and contracted to purchase another 140 lots once...