Economic crisis
High Job Losses To Sink Demand for Commercial Space
Landlords across property types are in for a nasty decline in tenant demand for space, thanks to an accelerating employment drop, researchers say. U.S. non-farm payrolls shrank by 533,000 jobs in November, the Labor Department reported on Dec. 5....
Delinquencies Tick Up On Construction Loans
The faltering economy has led to a spike in construction loan delinquencies, and the problem could deepen in the near term. ...
Casino Hotel Development Folds
The capital markets meltdown and plunging economy have conspired to kill the most prolific casino hotel expansion ever....
Commercial and Multifamily Lending Activity Contracts 53%
Mortgage bankers’ originations of commercial and multifamily mortgage loans dropped a whopping 53% in the third quarter compared with the same period of 2007, the Mortgage Bankers Association reports. ...
Global Economic Strains Hit Property Markets
The International Monetary Fund (IMF) has slashed projections for growth of the world’s richest economies for 2009. ...
Commercial Real Estate Sales Slump Spans Globe
The dearth of transactions that has daunted U.S. commercial real estate investors for 14 months has spread overseas, but observers suggest that measures to restore liquidity could help some markets to avoid the degree of paralysis that lingers in North America....
Worst Real Estate Downturn Since 1991-1992, ULI Report Concludes
Brace yourself for the worst year in commercial real estate since the “1991-1992 depression,” according to Emerging Trends, a joint report by PricewaterhouseCoopers and the Urban Land Institute released this afternoon. ...
Financial Crisis Is ‘Different Than Anything I’ve Ever Seen Before’
Experience, especially in troubled times, often counts for a lot. Stephen Siegel, chairman of global brokerage for CB Richard Ellis in New York, is a 40-year veteran of the brokerage business and a virtual institution in New York commercial real estate circles....
Argus Realty Merges with Thompson National Properties
Argus Realty Investors LP recently announced that it has entered into an agreement to form a venture with Thompson National Properties LLC, which will manage substantially all of Argus’ existing portfolio and introduce new investment opportunities....
No Assurance Government Bailout Will Work, Expert Panel Concludes
LOS ANGELES — Congressional approval of the $700 billion financial-system “bailout” earlier this week has failed to calm the jitters of five prominent financial professionals, who said they remained vexed by both a paralyzed banking system and the possibility of prolonged recession during a Tuesday evening conference in Los Angeles. ...
FASB 157: Warning Light or Smoking Gun?
A government-mandated accounting rule that was intended to keep large institutions from overstating their holdings is emerging at the center of the recent credit meltdown....
'Maximum Fear' Grips Credit Markets
The hotel debt market is in bad shape, and it will be a while before it gets better. Want more bad news? The CMBS market is completely gone as a lending vehicle for hotels, at least in the near term. ...
Continuing Job Losses Could Batter Fundamentals
The loss of jobs is a troubling sign for absorption of office space and indicates a weaker economy that will reduce demand for all types of commercial real estate going forward. ...
Could General Growth Be Sold?
As the credit crisis drags on, debt-ladened General Growth Properties, the nation’s second largest regional mall REIT, may have no other choice than to sell the company. ...
New York Office Vacancy Likely to Rise to 13%
Property & Portfolio Research, a Boston-based commercial real estate research firm, has released estimates of what the impact might be on the New York office market as a result of recent cataclysmic financial events, including the bankruptcy of Lehman Brothers....
Only the Strong Survive
Capital constraints and sluggish commercial real estate sales have taken a big bite out of the tenant-in-common (TIC) marketplace. The volume of TIC equity...
Lehman Brothers: 1850 - 2008
On Wednesday, Sept. 10, Lehman Brothers attempted to calm investor jitters by announcing plans to carve from its balance sheet $25 billion to $30 billion...
