A Shore Bet

Before New York’s Hamptons attracted wealthy homeowners and chic celebs, Long Branch, N.J., ranked as one of the country’s premier summer resorts with five miles of Jersey shoreline. Seven U.S. presidents vacationed there and attended services at an 1879 Episcopal church, which became known in their honor as the Church of the Presidents. Winslow Homer depicted its beach in his art.

Bridging the Gap

“Underwriting benchmarks, guarantor requirements, partner appetites, and pricing are constantly changing,” says the vice president of finance for the Miami-based developer of affordable housing. “Recent tightening of conventional banks’ regulations and internal underwriting standards have made borrowing from them expensive and practically infeasible. Freddie Mac and Fannie Mae are among the very few options with somewhat predictable executions still available.”

Column Financial Collapses

Column Financial, the commercial real estate lending arm of Credit Suisse, officially closed its doors in late March, shutting down its remaining offices in Dallas, Los Angeles, and Chicago.

Five Keys to Success

From the early 1900s to 1970, the brick building at 601 E. Pratt St. was a power plant fueling Charm City’s streetcar system. Today, electricity is no longer produced in the building, but that doesn’t mean it isn’t a hub for commerce. A Hard Rock Café and Barnes and Noble sit on the first floor, drawing office workers and visitors to Baltimore. But it’s on three floors upstairs where the real money is made. That’s home to the Cordish Cos.

by Les Shaver

Economist Thornberg: This Too Shall Pass

As an economist with UCLA’s Anderson Forecast, Christopher Thornberg garnered a reputation as something of a pessimist. In late 2003, Thornberg began warning about the single-family housing bubble and the risks facing the broader economy. He was often met with unbelieving, blank stares by the real estate industry professionals who came to hear him speak.