Still hoping that bankrupt mall owner General Growth Properties will have a change of heart, rival Simon Property Group has upped its takeover plan by $1.1 billion and added four financial backers to its proposal. General Growth, which balked at Simon’s $10 billion February buyout offer, has since backed a proposal by Brookfield Asset Management. The additional investment by Simon, which said last week it would match the terms of Brookfield’s proposal, comes on top of the $2.5 billion the company has already pledged, plus $1 billion from New York hedge fund Paulson & Co. ING Clarion Real Estate Securities, Taconic Capital Advisors, Oak Hill Advisors and Deutsche Bank AG’s RREEF unit will also join the plan. Critics have said a Simon takeover would raise antitrust issues. “Would Pepsi allow Coke to become its largest shareholder?” asked Cryus Madon, Brookfield’s senior managing partner. CEO David Simon is reportedly scheduled to meet with General Growth officials today in Chicago. [Bloomberg]

When Tere Blanca resigned as senior managing director and branch manager of Cushman & Wakefield of Florida to start her own firm earlier this year, some questioned the wisdom of her timing.

Then others saw the writing on the wall. Within weeks, Cushman & Wakefield began eliminating executive positions from its ranks.

Less than eight months after Blanca left Cushman & Wakefield, the commercial real estate entrepreneur has picked up two of Miami’s premier listings — 1450 Brickell in Downtown Miami and One Park Square at Doral. Both listings were previously with Cushman & Wakefield.

Indeed, while many larger brokerages are struggling — CB Richard Ellis lost $6.6 million in the second quarter of 2009 — Blanca Commercial Real Estate appears better able to adapt to changing market conditions. Boutique firms like Blanca don’t have the debt that larger institutional players may have. [more]

Blanca Commercial Real Estate, the Miami-based commercial real estate
brokerage and advisory firm founded by Tere Blanca, senior managing
director with Cushman & Wakefield, has been named the exclusive
leasing agent for One Park Square at Doral. The new Class-A,
281,000-square-foot office building is located in Doral’s central
business district, Park Square at Doral, a 51-acre mixed-use
development that includes office, retail, hotel and multi-family
residential properties. Darryl Robinson, Principal of Oak Hill
Advisors, will work with Blanca on daily operations. TRD [more]