Centro, General Growth Properties Find Ways to Hang On
Although the threat of bankruptcy continues to hang over Chicago-based REIT General Growth Properties and Melbourne-based listed property trust Centro Properties Group, both embattled firms have managed to dodge that fate thanks to recent moves....
Private Equity Firm Buys 1.4 million sq. ft. Self-storage Portfolio
Harrison Street Real Estate Capital, a Chicago-based real estate private equity firm, has acquired 19 self-storage properties in six states for an undisclosed price. The purchase includes 11,600 storage units totaling 1.4 million sq. ft....
Rise in Commercial Real Estate Prices a Blip, Expert Says
The average price of commercial real estate across property types increased 2.5% in September from the previous month, according to a national index, but that change is likely an aberration in an otherwise downward trend, according to the index’s owner....
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. ...
Cushman Group to Help Clients Steer Through Rough Economy
Cushman & Wakefield has set up a resolution group aimed at market participants that need assistance in navigating the current turmoil in the financial sector....
Inertia of Buyers and Sellers to End in 2009, Predicts Grubb & Ellis
An end is in sight for the depressed investment sales market, a healthy sign in an otherwise increasingly unhealthy commercial real estate industry, according to brokerage firm Grubb & Ellis. ...
Commercial Real Estate CDO Delinquencies Still Rising
An inability to refinance maturing loans fueled the fourth straight monthly rise in the delinquency rate for collateralized debt obligations composed of U.S. commercial real estate loans (CREL CDOs), according to the latest CREL CDO Delinquency Index from Fitch Ratings. Fitch deems a loan delinquent when payments are 60 days overdue....
Funds Place Riskier Bets for Higher Returns
Pension funds are caught in a pickle as real estate values drop amid the current credit crunch. ...
Veteran Advisor Leaves Retirement to Answer Pensioners’ Calls
For almost exactly three decades, Ted Leary was a fixture at nearly every major event hosted by industry organizations such as the Pension Real Estate Association, Urban Land Institute and Association of Foreign Investors in Real Estate....
Institutional Tidbits
According to a new study by J.E. Robert Cos., a majority of institutional investors are poised to grow their future investments in commercial properties, particularly in the United States....
CB Richard Ellis: Steep Revenue Drop in the Third Quarter
The nation’s largest commercial real estate services firm, Los Angeles-based CB Richard Ellis, has reported a 13% decline in third-quarter revenue from the same period in 2007, and CEO Brett White says that amid deteriorating global economic conditions the company’s transactions have reached a record low....
Global Economic Strains Hit Property Markets
The International Monetary Fund (IMF) has slashed projections for growth of the world’s richest economies for 2009. ...
Interstate Pares Fourth-Quarter Revenue Expectations
Against the backdrop of rising hotel supply and lower occupancy rates, Interstate Hotels & Resorts has attempted to shield itself from the ongoing economic downturn with a diversified earnings base....
Current Downturn Similar to Late ’80s, Says New York Fed
The job losses experienced in the financial services sector in New York City through the summer of 2008 have been relatively moderate, but considering that the current downturn is similar to the one in the late 1980s, more deterioration may be yet to come....
Commercial Mortgage Delinquencies to Gain 0.5% in 3Q?
Delinquencies on commercial mortgages could rise to 2.4% for the third quarter, from 1.9% for the second quarter, according to an estimate from Foresight Analytics. ...
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. ...
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....
MBA Elects 2009 Officers
The Mortgage Bankers Association (MBA) elected and swore in Kentucky banker David G. Kittle as its 2009 chairman during the association’s 95th annual convention this week in San Francisco. ...
Bank Capital Infusion: Necessary to Quell Crisis, Say Experts
NREI asked industry experts to weigh in on the necessity of the U.S. government’s announcement this week that it will infuse $250 billion into the nation’s private banks in exchange for preferred shares....
Market Participants Assess Distressed Debt Opportunities
With all sorts of distressed debt investing opportunities now available after the excesses of the last few years, buyers and sellers are treading cautiously and looking for some kind of validation for pricing. ...
Fitch: Commercial Real Estate Loan CDO Delinquencies Rise
Delinquencies on commercial real estate loan-related collateralized debt obligations (CDO) have risen to 2.39% for September, up from 1.79% in August, according to Fitch Ratings. ...
Despite Rescue Bailout, Institutions Wait on the Sidelines
Thanks to a continued disconnect between sellers’ asking prices and how much buyers are willing to spend, institutional investors remain largely out of the commercial property market when it comes to doing new deals. ...
Market Watcher Says Credit Will Remain Tight for Next 12 Months
One of the leading authorities on real estate market economics says that lending institutions, burned by the recent turmoil in the financial markets, will maintain their tight lending standards for at least the next year....
Institutional Roundups
A pending global recession could claim Russia’s property market as a primary victim, according to a new report released from JPMorgan Chase....
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....
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