REAL ESTATE

Hilco Real Estate launches managed asset resolution arm

BY CSA STAFF

Northbrook, Ill. — Hilco Real Estate said Thursday it has formed Hilco Real Estate Managed Asset Resolutions to provide turnkey loan servicing to lenders and other real estate investing entities on their most deeply-distressed loans and REO assets.

Jerry T. Hudspeth has joined Hilco as CEO of the new group. Joining Hudspeth on the leadership team are Ronald M. Lubin, Edmund H. Terry and Michael Tsandilas.

“Deeply-distressed assets need specialized attention and unique skills to maximize value,” Hudspeth said. “Traditional servicers and lender workout groups cannot afford, or are often simply unable, to properly service these assets.”

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REAL ESTATE

Dylan’s Candy Bar opens in Palm Desert, Calif.

BY CSA STAFF

New York City — Dylan’s Candy Bar has opened an outpost in Marriott’s Shadow Ridge in Palm Desert, Calif.

With its bright turquoise walls with a candy-coated ceiling, custom candy-themed light fixtures and signature “Whirly Pop” Tree with its branches of lickable lollipops and candy-inspired apparel and accessories, the shop is modeled after Dylan’s Manhattan flagship. Other Dylan’s stores are located in East Hampton and Roosevelt Field, N.Y.; Orlando, Fla.; and Houston.

“We’re excited to offer the first Dylan’s Candy Bar at a Marriott resort and see this as the perfect complement to our amenities at Marriott’s Shadow Ridge.” said Daniel Slaughter, general manager of Marriott’s Shadow Ridge.

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REAL ESTATE

TD Bank building nation’s first net-zero energy bank

BY CSA STAFF

Cherry Hill, N.J. — TD Bank announced it is building a net-zero energy bank location, in Ft. Lauderdale, Fla. (The U.S. Department of Energy’s National Renewable Energy Laboratory, defines a net-zero energy building as a building that produces and exports in a year at least as much renewable power as the total energy it uses.)

The new facility, scheduled to open this spring, will be connected to the local utility grid. It will require approximately 97,000 kilowatt-hours (kWh) of electricity a year to operate, but it will produce a minimum of 100,000 kWh a year on site. To date, only eight buildings in the nation are registered as net zero energy buildings with the DOE, and TD Bank will be the first to register a net-zero energy bank.

"The nation’s first net-zero energy bank is a continuation of TD Bank’s ongoing efforts to reduce our environmental footprint," said Jacquelynn Henke, real estate green strategy officer, TD Bank, which is one of the 10 largest banks in the United States. "In 2010 we became the largest U.S.-based bank to be carbon neutral by building LEED (Leadership in Energy and Environmental Design) -certified stores and offices, and making continuous significant investments in renewable energy. With our new net-zero energy store, we are taking another step to become as green as our logo."

The new TD Bank will also target the highest level of LEED certification, LEED Platinum. It is being built according to TD Bank’s green-store design standards, which make all of its locations almost 50% more energy efficient than the bank’s previous design. Features include a solar drive-thru canopy that produces nearly 20% of the buildings’ annual energy needs and design elements that make them more energy efficient to help them achieve LEED certification. The Ft. Lauderdale location, however, will also generate energy through solar panels mounted on the store’s roof and a field of solar panels on the building’s surrounding property.

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