Dora operates more than 20 hotels, including five in downtown Indianapolis and two adjacent to Indianapolis International
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers.
The bid by Simon Property was an “initial salvo” and the Brookfield plan likely will prompt a new offer from the Indianapolis-based
mall owner, real estate research analyst says.
Blackstone Group LP, the world’s largest private-equity firm, may join Simon Property Group Inc.’s bid to buy bankrupt
General Growth Properties Inc., according to two people with knowledge of the discussions.
Experts say a unique four-way partnership that includes the Pacers and Indianapolis Convention & Visitors Association may be the favorite to run the city’s sports and
Indianapolis parking garage operator Denison shuns sexy LED lighting for Fishers supplier’s induction lights.
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
They used to say that downtown Indianapolis rolled up the sidewalks at 6 p.m. No one says
that anymore. Now they say those sidewalks need to be clean. Sidewalk cleanliness is important on a day-to-day
basis for aesthetic reasons, but even more so when Indianapolis wants to put on its best face for major events
like the Final Four, the Indianapolis 500 and the Super Bowl.
A local developer known for its strip centers has stopped building new projects, scaled back its staff, and is trying to
unload several of its properties in an apparent bid to survive. Williams Realty Group earlier this year
shuttered its custom-home-building operation, DayMarc Homes, and now observers are wondering if owners Dave
Crockett and Marc Freije can keep the rest of Williams afloat.
A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city’s
rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago,
placed its 18-property apartment portfolio up for sale in November.
The city’s oldest skyscraper will get a sleek new look starting this summer, when workers are scheduled to begin installing
a glass-covered curtain wall to replace a storm-scarred facade. Renovation of One Indiana Square should begin in June and
continue for two years.