Commercial Real Estate Markets Hold Steady
A new report by Moody’s Investors Service indicates that six of the seven commercial property types held their ground at the end of the first quarter. Limited service hotels bucked the trend, with scores declining to 64 on Moody’s scoring system, from 77 in the fourth quarter of 2007....
Fitch: Commercial Real Estate Loans to Weaken as Economy Slows
Since the fourth quarter of 2007 when the commercial mortgage-backed securities market effectively seized up, there has been concern that lax underwriting in residential lending would bleed over into commercial real estate loans....
Vultures Dig into Luxury Resorts
Two unconnected deals announced this month show that well-funded private developers are taking advantage of the residential slump to bag ritzy residential sites to develop and hold until the market recovers....
Does CMBX Reflect Industry Fundamentals?
Is there smoke without fire in the commercial-mortgage backed securities market, or is a doomsday forecast on the future performance of CMBS bonds justified?...
New Industry Accounting Rules Forge CBRE Practice
In response to a variety of new accounting standards and continued calls for increased reporting transparency, Los Angeles-based CB Richard Ellis has launched a Financial and Tax Reporting Services practice. ...
Q&A: Earl Webb, CEO of Jones Lang LaSalle Capital Markets
Service firms like Chicago-based Jones Lang LaSalle have their fingers on the pulse of what is happening in the land of institutional investing....
Weingarten Forms $229 Million Joint Venture
Houston-based Weingarten Realty Investors, one of the nation’s largest shopping center REITs, has formed a joint venture with Boston-based AEW Capital Management in a $229 million recapitalization of 18 Texas retail centers....
Harvard Management Names New CEO
Jane Mendillo is returning to Harvard Management Co. on July 1 as president and CEO after a six-year hiatus. Her role oversees the investments of Harvard University’s $34.9 billion endowment....
Record New York Tower Acquisition Closes
Ashkenazy Acquisition Corp. and The Carlyle Group have completed their purchase of 650 Madison Avenue, a trophy asset in New York’s Plaza District, for $680 million. ...
Jones Lang LaSalle Extends Reach in Asia
Real estate money management and services firm Jones Lang LaSalle Inc. (NYSE: JLL) is expanding its global platform with three deals announced this week, including the launch of a retail joint venture with a subsidiary of Australia’s largest bank....
Portfolio of Charlotte Business Parks Fetches $50 Million
A West Coast-based real estate investment and management company pursuing an expansion and diversification strategy has acquired a portfolio of North Carolina business parks for $50 million....
Foreign Wealth Funds Provide Opportunities for Partnerships
The U.S. government may be facing a budget deficit situation but there are other governments around the world that have been busy deploying their surpluses into investments through sovereign wealth funds. ...
DEALS & PROJECTS
Heitman American Real Estate Trust has acquired an industrial portfolio for over $100 million from a joint venture between Panattoni Development Co. and...
DEALS & PROJECTS
CPA, an affiliate of W. P. Carey & Co., has acquired four manufacturing facilities from Best Brands Corp. for approximately $50 million. The facilities...
In Progress: Southern California Logistics Centre
DEVELOPER: Stirling Capital Investments LOCATION: Victorville, Calif. SIZE: 6.5 million sq. ft. of industrial space on 350 acres of land PROJECTED COMPLETION:...
STUDIO ADAPTED TO ECO ROCK N ROLL-THEMED LOFTS
The Sunset Team real estate agency based in Los Angeles and ReThink Development have a great story to tell. The duo is planning the first LEED Gold certified...
Commercial Real Estate Not Immune from Recession
The U.S. economy is in a recession and commercial real estate will not be immune, according to speakers at the Pension Real Estate Association’s spring conference in Boston. ...
Index Points to Slowdown in Construction
After months and years of positive growth, a key indicator of commercial instruction activity has dropped nine points....
Investor Survey Projects Further Drop In Property Values Amid Faltering Economy
ATLANTA — Commercial property values have dropped 5% to 10% over the past year, and in the next 24 months they are likely to drop again by a similar amount....
Report: Panic Overstates Commercial Real Estate Risk
A newly released report by CBRE Torto Wheaton Research states that future commercial mortgage defaults and losses could be overestimated threefold....
CBRE Report: U.K. Reels from Credit Crunch, but Continental Europe Stays Steady
CANNES – A “$1.54 euro,” rising oil prices and a global credit crisis are all top concerns at the 18th annual MIPIM conference. The oft-repeated question for investors goes: If the U.S. gets a cold, will the European Union get pneumonia? A new report from CB Richard Ellis answers “no” to that question — for now — although European countries are not immune from the higher cost of capital and tighter lending practices....
Commercial Mortgage Delinquencies Maintain Historic Lows
Delinquency rates on commercial and multifamily loans ended 2007 at or near record lows for most major investor groups, according to new research by the Mortgage Bankers Association (MBA)....
Moody’s Changes Stance, Sees Recession, Lower RevPAR Ahead
In light of evidence that the nation’s economic climate is weaker than it had earlier anticipated, Moody’s Economy.com has revised its projections and is now predicting a recession, based on deteriorating economic fundamentals. Moody’s is also revising its outlook for the hotel industry....
Multifamily Fund Secures $200 Million
Irvine, Calif.-based Western National Properties, a member of multifamily firm Western National Group, has held an initial closing of its Western National Realty Fund II, L.P. (Fund II) with over $200 million of equity commitments from “several top-tier institutional investors,” according to CEO Michael K. Hayde....
NY State Fund Commits $610 Million in January
The nation’s third-largest pension fund, the $154.5 billion New York State Common Retirement Fund (CRF), closed 19 new investment transactions totaling more than $610 million and €110 million (Euro) in cash and commitments during January, according to a monthly transaction released by State Comptroller Thomas P. DiNapoli. The fund closed five real estate transactions....
