CRE Console Blog

REO Monitor: Times Square Sold

CRE Console — Wed, 01 Sep 2010 01:06:40 +0000

In June, we reported that Bank of America listed Times Square at Craig Ranch in McKinney, Texas, with CBRE. Yesterday, Mid-America Apartment Communities (NYSE: MAA) acquired the property for $31.25 million, or about $100,000 per unit. The property was developed in 2009 by Evergreen Realty Partners. Reportedly, the property cost approximately $52 million to ...

Update: Atlantic Station Under Contract

CRE Console — Sun, 29 Aug 2010 11:00:21 +0000

We recently reported that Eastdil Secured was marketing Towne Center at Atlantic Station on behalf of its owner, AIG Global Real Estate. This week, North American Properties was selected as the winning bidder for the property and now has the deal under a formal sales agreement. North American Properties has been awarded the right to acquire ...

New Feature: Automated Client Reports

CRE Console — Sat, 28 Aug 2010 20:47:35 +0000

We’ve been hard at work implementing our newest feature, CRE Console’s automated client reporting application. This feature saves investment brokers time and money by automatically creating investor reports. Instead of scrambling to update activity reports for their clients, all CRE Console users need do is email a link, our software takes care of the rest. The ...

Have you used Blytic.com?

CRE Console — Wed, 25 Aug 2010 01:54:49 +0000

We recently stumbled across an interesting website, Blytic.com. It is an interesting concept, if you’re not familiar with the site. Blytic is a privately funded Boston area startup offering a novel new service for accessing/managing real-time time-series data as well as for analysis authoring and publishing. First, Blytic acts as an real-time archive for time series data, ...

New Feature: Investor Interest by Geography

CRE Console — Fri, 30 Jul 2010 03:58:38 +0000

This is not a new feature, but is one we have not discussed in detail on our blog. The topic of creating a set of indices came up during a back-and-forth with Marketwi.se. Tracking investor interest by geography is a standard feature which comes with every CRE Console listing. We certainly aren’t the first to ...

MIT finds, “Monkeys hate booking losses”

CRE Console — Thu, 29 Jul 2010 01:18:36 +0000

The topic of cap rates and treasury spreads morphed into a discussion on the value of technical indicators. From there, it shifted to investor psychology. Marketwi.se’s last post, “We Are All Just Monkey’s” was a combination of pricing, technical indicators, market efficiency (or lack thereof) and overall investor psychology. One of John’s closing comments reminded us ...

Dr. Geltner: CRE Prices will return…. when?

CRE Console — Wed, 28 Jul 2010 13:31:00 +0000

In his most recent Professor’s Comment’s newsletter, Dr. David Geltner included an intriguing projection: “the CPPI may not regain its 2007 peak value of 192 again until the decade of the 2030s or beyond.” Note the graph below; it assumes the in approximate long-run equilibrium in 2000, and that nominal property prices grow sustainably (1% to ...

Cap rates, technical indicators and more…

CRE Console — Mon, 26 Jul 2010 13:30:32 +0000

While technical indicators are used frequently to analyze stock investments, it is a technique seldom (if ever) used in commercial real estate. When Marketwi.se used it to analyze Cap Rate to Treasury spreads, it turned the conversation on its ear. We were fascinated by this approach and include their chart below for your viewing pleasure: Source: Marketwi.se In ...

Moody’s/REAL CPPI increases 3.6% in May

CRE Console — Sat, 24 Jul 2010 23:40:00 +0000

The Moody’s/REAL All Property Type Aggregate Index registered a 3.6% increase in CRE prices in May. This means back-to-back months of price increases. With this increase the CPPI is now 8.6% since its October 2009 low. Prices are down 6.3% from this time last year and 33.0% lower than they were in May 2008. You ...

Wachovia Shops Apartment Loans

CRE Console — Sat, 24 Jul 2010 23:23:21 +0000

REAlert.com reports that Wachovia has engaged Eastdil Secured to shop a couple of defaulted mortgages secured by two stabilized apartment complexes in Atlanta. One of the loans, with an unpaid balance of $27.6 million, is secured by the 242-unit Icon apartments, while the other, with a principal balance of $26.6 million, is backed by ...