NREI Industry News - National Real Estate Investor Magazine - Industry News Articles
Industry News
Fannie Mae DUS Lending Up 30% in First Half
While the government-sponsored enterprise battles fallout from the single-family housing downturn, Fannie Mae’s multifamily side is faring better. ...
Setbacks at Ground Zero
The rebuilding of Ground Zero has met with setbacks, from building delays to losing a major tenant. Indeed, brokerage giant Merrill Lynch recently ended discussions to take up space at Tower 3. ...
Moody’s: Property Prices Down Three Months in a Row
Commercial real estate prices were down 3.5% nationwide at the end of May, from the previous month, according to Moody’s Investors Service Commercial Property Price Index. ...
Change of Guard at MBA
Jonathan Kempner is stepping down as president and CEO of the Mortgage Bankers Association (MBA) at the end of the year, the trade group reports. ...
G&E Realty Acquires S.C. Property for TIC Avenue
Grubb & Ellis Realty Investors has acquired Plantations at Haywood, a 562-unit Greenville, S.C., multifamily property, from Simpson Housing on behalf of tenant-in-common investors....
Pension Funds Scale Back Outside Real Estate Advisors
In a world of daily cutbacks on everything but the price of oil, perhaps it was inevitable that the nation’s leading pension funds would find themselves in the same dilemma when it comes to their real estate investments....
CalPERS Corporate Governance Chief Quits
In the third major defection from the country’s top pension fund this year, Dennis Johnson, the corporate governance director for the California Public Employees’ Retirement System (CalPERS) is leaving to join the Shamrock Activist Value Fund. ...
Institutional Joint Venture Marketing Industrial
A joint venture between CalPERS and LaSalle Investment Management is selling a 12-building portfolio of office/flex buildings in Indianapolis. ...
Grubb & Ellis CEO Scott Peters Steps Down Suddenly
After less than eight months as CEO and director of brokerage firm Grubb & Ellis (NYSE: GBE), Scott Peters resigned from his post today, effective immediately. ...
ING Will Reposition Western Investments
ING Clarion Partners has invested more than $166 million in three Western properties through three separate joint ventures with local operators. The properties are in Denver, Colo., and Santa Clara, Calif....
Food Distributor Closes Sale-Leaseback Deal in Houston
Glazier Foods Co. has sold its 286,000 sq. ft. headquarters and distribution center in Houston to an investment group that plans a $14 million expansion to the property. ...
Latest Jobs Report Suggests Demand to Weaken for Commercial Space
Accelerating employment losses in June portend further softening in demand for commercial real estate in the second half of 2008. ...
Deals & Projects
CLK/HP One Old Country LLC has acquired One Old Country Road for $65 million from Treeline 1 OCR, an entity controlled by The Treeline Cos. The five-story,...
In Progress: Metro Green Apartments
DEVELOPER: Jonathan Rose Cos. LOCATION: Stamford, Conn. SIZE: 50 units of affordable housing BUZZ: Metro Green Apartments is the first phase ...
Hunting for Revenue
With commercial property sales hurtling into an abyss, mortgage bankers and direct lenders are taking bold steps to find new revenue streams. The strategies...
Tenant Rep Firms Are a Hot Commodity
Suddenly tenant representation firms are the next big thing. Now that Chicago-based Jones Lang LaSalle (JLL) has formalized its purchase of Dallas-based...
Inflation UNLEASHED
Normally inflation works in favor of commercial real estate investors, driving up demand for hard assets as a hedge against a weakening currency....
Equity Capital Remains on the Sideline
Real estate equity capital remains voluminous but the lack of debt financing, a mismatch between capital and available product, and desire to see a proven market bottom are contributing to dramatically lower transaction volumes in 2008. ...
KBS REIT Closes Share Offering
KBS Real Estate Investment Trust (REIT) has closed its offering of shares to the public, having raised $1.67 billion since July 2006....
Commercial Property Prices Still Gaining
Commercial real estate prices were up more than 5% nationally at the end of March from the same time last year, according to Standard & Poor’s March GRA Commercial Real Estate Indices. ...
PREI-Beekman Venture Targets Indian Real Estate
Prudential Real Estate Investors (PREI) has partnered with Beekman Helix India Partners to invest in real estate in India through a private equity platform on behalf of institutional clients....
Cushman & Wakefield Relocates World Headquarters
Commercial real estate services firm Cushman & Wakefield has signed a 15-year deal to lease 156,282 sq. ft. at 1290 Avenue of the Americas, on the eastern block front between 51st and 52nd Streets in Midtown Manhattan. ...
Report: U.S. Investment Sales Down 69% in First Quarter
An ongoing stalemate between buyers and sellers helped to slow commercial property transactions to a crawl in the first quarter, but researchers suggest activity will accelerate near or just after the end of 2008. ...
Institutions Struggle with Denominator Effect
Just when many institutional investors have committed larger pools of money to the commercial real estate sector for the first time in years, those same investors are potentially facing the very real need to sell off a portion of their commercial real estate portfolios in order to maintain pre-set target investment allocation levels....
RREEF Hires Global Head
Susan Barlow, a 20-year veteran of alternative investment strategies, is joining RREEF Alternative Investments as a managing director and head of global client relations....
