North Austin poised for biggest commercial, residential growth spurt yet
The Domain and its surroundings are already red-hot with development. But hold onto your hat (and your checkbook) as millions more square feet of commercial space and thousands of homes are still on the way.
Hess Ranch development to begin with $41 million sale
The post Hess Ranch development to begin with $41 million sale appeared first on Colorado Real Estate Journal.
After affordable housing debacle, title industry rebuffs Denver’s request to ensure compliance with program rules
The Land Title Association of Colorado has rejected a request from Denver Mayor Michael Hancock to make compliance with the city’s affordable housing rules a requirement for obtaining title insurance.
But it did hold out an olive branch that other solutions could be found, including adding the addresses of the city’s affordable homes to a database that title workers could use in their research.
“(The association) is ready and willing to work with the city of Denver to find ways to ensure that this problem does not continue in the future,” Kelli Klein, the president of the industry trade group, said in her response.
Hancock, in a March 30 letter, requested that title insurers list the city’s affordable housing program covenants under the “requirement” section of a title policy rather than treating it as a less visible “exception” that doesn’t weigh on title insurance.
Without title insurance, lenders won’t finance a buyer, which creates a market-based way to enforce program requirem..
The internet helped kill Toys R Us, but it’s a different story for Denver’s independent toy stores
As Toys R Us inches closer to bankruptcy oblivion, Denver-area independent toy store owners aren’t licking their chops, awaiting hordes of new customers. They’re not placing big orders for Barbies or the latest superhero movie action figures in an attempt to woo shoppers.
They’re selecting items from specialty and local suppliers; scheduling game nights and other in-store events; and studying their merchandise so they can provide informed recommendations to shoppers. In short, doing the things that differentiated them from the home of Geoffrey the giraffe in the first place.
And, industry veterans and analysts say, it’s that thoughtful, experience-oriented approach that has set independent toys stores up for stability and success as larger retailers die out or lose market share to online sellers.
“Frankly, there is no change,” Rohit Meher, the owner of Wonderland Toys in Highlands Ranch, said last week when asked whether he has noticed any differences in traffic or customer behavior..
Denver judge awards more than $1.9 million to attorney, businesses accused by state of price gouging during nation’s foreclosure crisis
A Denver judge on Friday awarded more than $1.9 million to attorney Larry Castle and two associated businesses, who successfully defended themselves against state allegations of price gouging during the nation’s foreclosure crisis.
The judgment for attorneys’ fees is small compared with the $26 million the state sought against Castle, his lawyer wife, Caren, the Castle Law Group and the two companies, Absolute Posting & Process Services and Colorado American Title, for allegedly puffing fees and other expenses while handling the bulk of the foreclosure work across the state over several years.
The judgment is to be reduced by $119,500, the amount the state was awarded earlier against the Castle firm on a charge it had failed to tell federal mortgage insurers about a financial relationship it had with Absolute.
In Friday’s order, Denver District Judge Morris Hoffman chastised Attorney General Cynthia Coffman’s office for complaining that defense lawyers’ fees were excessive while ass..
Big industrial deals have more real estate investors taking note of Denver market
Competition for homes in the Denver metro area has been fierce for years. Early activity in 2018 demonstrates the local commercial real estate market could be a battleground in its own right.
The Pauls Corp. recently sold 14 Class A buildings in its DIA-area Gateway Park industrial development to real estate investment firm Clarion Partners for $206.1 million. The sale, totaling 1.93 million square feet of space, was the single largest industrial deal on record for the Denver metro area, according to real estate services firm CBRE.
It was hardly the only industrial transaction to close in the first three months of 2018. CBRE tracked 49 properties that changed hands over the period. The sales totaled $402.2 million. Dating back to April 2017, $966 million has been spent acquiring industrial buildings in the metro area, according to CBRE research, a 22 percent increase over the prior 12 months.
“What that sale did is it had enough scale and size to it that it made a bunch of groups u..
Wells Fargo must pay $1 billion fine
Wells Fargo & Co. will pay $1 billion in penalties to regulators, as part of a consent order announced today with the Office of the Comptroller of the Currency and Consumer Financial Protection Bureau.
This new order was leveraged in response to fraudulent auto loan practices at Wells Fargo (NYSE: WFC) in regard to interest rate-lock extensions on home mortgages and collateral protection insurance placed on customers' auto loans. The CFPB previously levied a $142 million fine against Wells Fargo…
KCBJ celebrates nominees for 2018 CFO of the Year [PHOTOS]
Thursday evening, the Kansas City Business Journal hosted a private reception for CFO of the Year nominees. About 100 people attended the event at the Carriage Club.
The CFO of the Year Awards recognizes financial professionals in the Kansas City region for outstanding performance in their roles as corporate financial stewards. Financial executives are instrumental to their organization’s success; their role often incorporates overall strategy as well as finances. The honorees represent outstanding…
Sophisticated ATM skimming scheme hits area QT customers
A 23-year-old Romanian national has been charged with covertly stealing and using debit card data by placing skimming devices on ATMs inside QuikTrip stores in Olathe and Riverside.
According to a release from the U.S. Attorney's Office for the Western District of Missouri, David Velcu was charged Thursday in U.S. District Court in Kansas City. Velcu, who also uses the alias Luca Antoni, lives in Anaheim, Calif.
The complaint alleges that Velcu used mag strip readers and pinhole cameras to steal…
Don’t wait to start thinking about succession planning and acquisition financing
You’ve invested years building your business. Have you considered what your plan is for when you want to retire? It’s never too early to think about succession planning. It can help you plan a growth strategy, and the preparation you do now will alleviate some of the stress of selling when you’re ready.
Not currently an owner, but have a dream of becoming one? Whether it’s taking over a family business or purchasing the business where you’ve built your career, when your opportunity to…