Housing Crunch Slows Demand for Independent Living, Continuing Care Communities
The housing slump has softened occupancy at seniors housing projects, though a few hopeful signs suggest the slide may not deepen much further. Vacancy concerns are most pronounced at new independent living buildings and continuing care retirement communities....
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....
Florida Mixed-Use Development Will Include Theater
US Capital Holdings is partnering with Muvico Entertainment, a chain of mega-plex theaters, to develop a 14-screen theater as part of 321 North, a $1 billion redevelopment of the former Fashion Mall property in Plantation, Fla....
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....
Will ‘Staycations’ Bolster Midwest Hotel Market?
Although the Midwest continues to be hammered by the economic slowdown and heavy losses in manufacturing jobs, there may still be reason for optimism in the hotel sector. ...
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. ...
Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform
Long after Monday’s closing bell — just after 8 p.m. EST — Chicago-based Jones Lang LaSalle (JLL) and Dallas-based The Staubach Co. formally announced their long-anticipated merger....
RealComm Sends a Message: Innovate, or Face Powerful Global Competitors
American commercial real estate and technology companies need to get leaner and more innovative to meet the challenges of global competition and rising oil prices....
Q&A with Anant Yardi, CEO of Yardi Systems
Santa Barbara, Calif.-based Yardi Systems founded in 1984 provides investment, asset and property management software for more than 15,000 businesses, corporations and government agencies around the world. ...
Scheer Partners, JBG Companies Form Equity Fund
Scheer Partners, a Rockville, Md.-based provider of health science commercial real estate services, has formed an equity fund with Chevy Chase, Md.-based The JBG Cos. to acquire and develop life sciences commercial real estate. ...
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. ...
Walgreen Co. Buys Eight-Store Portfolio for $34.78 Million
Walgreen Co. has exercised its first right of refusal to buy back eight Walgreens properties in six states from a North Miami Beach investor. Marcus & Millichap Real Estate Investment Services arranged the $34.78 million sale....
KBS REIT Acquires D.C. Complex for $152 Million
KBS Real Estate Investment Trust has purchased a three-building office complex in a suburb of Washington, D.C. for $152.75 million. The 487,775 sq. ft. property, Tysons Dulles Plaza, is in Tysons Corner in McLean, Va....
CMBS Gets a Stress Test
How bad can it get for commercial mortgage-backed securities in the event of a recession in the U.S.? ...
Two-part Sale of Affordable Housing Company
Avanath Capital Partners, an Irvine, Calif.-based real estate investment firm, and MacFarlane Costa Housing Partners have acquired Simpson Housing Solutions and its portfolio of 273 properties. ...
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....
USAA Real Estate’s James Loyd
San Antonio-based USAA Real Estate Co., a division of insurance and financial services firm USAA, manages more than $4.4 billion in real estate assets. ...
Economists See Job Losses as Mild
May’s employment numbers released today by the U.S. Department of Labor come as no surprise to economists. The government reports that the unemployment rate rose from 5% in April to 5.5% in May, with non-farm payrolls down by 49,000 jobs. ...
S&P Reviewing CMBS for Possible Downgrades
After enduring a round of downgrades on residential subprime-mortgage backed bonds, at least one credit-rating agency is trying to avoid similar fallout on the commercial mortgage side. ...
Trump: Greatest Real Estate Opportunities Have Moved Overseas
Once the place for the world’s great investors to park their money, the United States is no longer the kingpin for generating business opportunities and has lost respect around the globe, says famed real estate developer Donald Trump, who is convinced that the situation is not irreversible....
High Cost of Capital Drives Down Hotel Values
NEW YORK — Hotel values are dropping even as net income in the industry rises. The value per hotel room in the United States fell from $95,000 in 2007 to $91,000 in 2008, according to Stephen Rushmore, president and founder of Mineola, N.Y.-based HVS Hospitality Services, who spoke at 30th annual New York University International Hospitality Industry Investment Conference....
Is Worst of the Downturn Past?
NEW YORK — The economy and gas prices are affecting hotel demand. For every 10% increase in gas prices, there is a correlating 0.5% decline in hotel demand, says Bjorn Hanson, a hospitality and leisure researcher for PricewaterhouseCoopers. ...
Weak GDP Forecast Puts Strain on U.S. Hotel Market
NEW YORK — As gross domestic product goes, so goes the U.S. hotel industry. The two are inextricably linked. Just ask J. Willard Marriott Jr., chairman and CEO of Marriott International Inc., who in his illustrious career has weathered at least six economic downturns....
Banks Cultivate Green Loans
In San Francisco, Houston and across the country, a handful of community banks and even some of the nation’s largest lenders are discovering a growth area in construction loans and mortgages for sustainable commercial real estate. ...
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