Buyers Prepare to Snatch Troubled Loans From Securitized Pools
Rating agencies are busy reviewing and downgrading existing commercial mortgage-backed securities issued between 2005 and 2007...
Property Managers Fight to Keep Tenants
If the resounding battle cry for property managers a year ago was "drive rental rates," the new mantra is "keep existing tenants and maximize efficiency"...
Eco Hotel Reaches New Heights
Dennis Quaintance, CEO of Quaintance-Weaver Restaurant & Hotels, on being the first in the hospitality industry to obtain the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) platinum certification...
Green Tidbits
Behringer Harvard has been awarded LEED Existing Buildings: Operations and Maintenance Gold certification for Bank of America Plaza in New York, an asset in the portfolio of Behringer Harvard REIT I....
Why the Time is Ripe for Brownfield Development
Despite the bleak short-term snapshot of the commercial real estate market, we’re at a new cusp in brownfield redevelopment....
Real Estate Pioneer Ray Watt Dies at 90
Ray Watt, 90, was a real estate pioneer, philanthropist and public servant who played an instrumental role in redefining the real estate industry in the Western United States. He got his start in the business during a housing shortage after World War II. To meet the demand in Southern California he worked from dawn until dark and named his company Day and Night Construction to suggest the hours he was keeping....
Office Aftershocks Forecast for Second Half
With the national office vacancy rate threatening to breach 17% by year’s end and a wave of maturing loans coming due, landlords are working feverishly to clean up their balance sheets and retain tenants. ...
Retail Casualties Predicted to Rise
Don’t be surprised on a long drive to find a strip mall or two abandoned along the highway, flamboyant signs askew and the empty parking lot looking eerily reminiscent of the 1980s, when commercial foreclosures and savings and loan failures were rampant....
Rehab Units Provide Nursing Homes With Additional Revenue Stream
As lawmakers debate health care reform, nursing home owners and operators continue to build rehabilitation units designed for short-term stays in an effort to boost occupancy and improve cash flow. ...
Furious Appraisers Charge Conflict of Interest with Lender-Related Companies
WASHINGTON, D.C. — Seasoned residential property appraisers are outraged over current industry practices that they claim allow conflicts of interest by major lenders and their affiliated appraisal management companies, and the appraisers warn that problems could spill over into commercial real estate valuations....
Federal Conservator of Freddie, Fannie Hopes to Avoid ‘Folly’ of Past Lending Practices
WASHINGTON, D.C. — The director of the federal agency serving as conservator of Fannie Mae and Freddie Mac says multifamily housing remains an important priority for the enterprises, and he has been meeting weekly with their CEOs as regulators chart a different future for the troubled mortgage insurers....
Wechsler: Why REITs Are Ahead of the Recovery Curve
WASHINGTON, D.C. — The recapitalization and recovery of the nation’s commercial real estate industry promises to be a “difficult and painful journey” over the next few years, but major steps taken by publicly traded real estate investment trusts (REITs) provide a potential roadmap to renewed financial health....
Administration Reforms Housing Policy, Promotes Renting Along with Home Ownership
WASHINGTON, D.C. -- As the federal government seeks to stabilize the nation’s capital markets, it has embarked on a sweeping reform of U.S. housing policy and is changing a long-standing emphasis on home ownership to also promote the value of renting, says the Obama administration’s top housing official....
Bondholders Face Possible Worst-Case Scenario
When marathon negotiations between Chrysler Corp. and its creditors broke down, the embattled auto company marched into court and filed a petition for bankruptcy protection....
Commentary: Extended Stay Bankruptcy Is An Exercise In Stupidity
Yesterday’s bankruptcy filing by Extended Stay Hotels came as no surprise to me and probably to a lot of other people in the industry. ...
LoopNet, CoStar, Begin A New Round in Legal Boxing Match
A long legal battle between commercial real estate information giants LoopNet, based in San Francisco, and CoStar Group, based in Bethesda, Md., has heated up again. Currently, litigation is underway in three states — California, New York and Maryland — as the two companies clash over copyright, Web access and advertising issues, among others. ...
BOMA Creates ‘360’ Performance Program
The Building Owners and Managers Association (BOMA) International has launched the BOMA 360 Performance Program to recognize commercial properties that demonstrate best practices in building operations and management. It is an online self-assessment to evaluate properties in major areas of building management. ...
Apartment Companies Automate to Save Money and Attract Clients
The National Multi Housing Group (NMHC), a Washington, D.C.-based association that represents major apartment companies, projects that in less than a decade, 67 million Americans will be between the ages of 20 and 34, prime years for apartment dwellers. NREI spoke with David Cardwell, vice president of capital markets and technology for NMHC, about technological advances in the apartment industry. NMHC estimates that 14% of Americans currently live in rental apartments. ...
Starting From Scratch, Developer Plans America’s First Eco City in Florida
Long before Anthony Pugliese bought 27,000 acres located in Osceola County in Central Florida, he considered himself an artist and designer of sorts. Growing up in New Jersey, his childhood role models included Thomas Edison and Leonardo DaVinci, men who invented and created their bold new ideas. ...
TALF Program Hits Headwinds
One week after the Federal Reserve announced that the Term Asset-Backed Securities Loan Facility (TALF) program would include commercial mortgage-backed securities (CMBS) issued before Jan. 1, 2009, Standard & Poor’s released a change to its ratings model that could downgrade 90% of the highest-quality CMBS issued in 2007....
Will Green Shoots Sprout for Institutional Investors?
In the face of waning transaction volume and leasing activity, many institutional investors are rightfully taking a hard look at their allocations to the commercial real estate sector. ...
Bach: ‘It’s Too Early to Pop the Champagne Corks’ Over May Job Figures
The hangover in the U.S. labor market is slowly wearing off, but real estate economists say that it’s premature for any celebration. Non-farm payrolls fell 345,000 in May, much better than the consensus forecast of 525,000. Since the start of the recession in December 2007, the economy has lost more than 6 million jobs, according to the U.S. Labor Department....
Car Dealership Closing Could Hurt Commercial Real Estate Values
As the U.S.'s auto manufacturers continue to restructure and cut costs, car dealership closings are spiking and generating a glut of excess space that might have a prolonged negative impact on the commercial real estate market, investment sales brokers say. ...
Tisch Plays Hardball with Chris Matthews at NYU Hotel Conference
NEW YORK — Chris Matthews, host of “Hardball” on MSNBC, has some advice for President Barack Obama on how he can get back in the good graces of the hotel and meetings industry. ...
Free Fall in Hotel Valuations to Hit Bottom in 2010, says HVS
NEW YORK — Hotel ownership isn’t for the faint of heart in this troubled economy. The average value per room in the U.S. hotel sector has fallen 45% since peaking in 2006, according to consulting firm HVS, and won’t rebound to peak levels until 2014. ...
JLL Research Highlights Sweet Spots in Hotel Investment Environment
Following an analysis of the U.S. lodging industry, Jones Lang LaSalle Hotels today released a new research study that identifies segments and players that are more resilient, are performing better, or are less affected by the slowdown in economic fundamentals and the liquidity drought....
Commercial Real Estate Fundamentals Slip Sliding Away
With the U.S. unemployment rate now projected by Moody’s to peak at 10.1% by the end of 2009 and credit still hard for investors to secure, there was little to cheer about during a quarterly media briefing Wednesday on the capital markets conducted by real estate research firm Reis. ...
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