Finance News RSS

CREW Awards 20 Women Under 40

Wed, 28 Oct 2009 13:04:55 UTC

The Commercial Real Estate (CREW) Network last night lauded 20 Under 40 women from throughout the commercial real estate industry as part of its 20th anniversary celebration. The awards, unveiled during the organization�s 2009 CREW Network Convention & Marketplace in Boston, honor women age 39 or younger working within a qualified area of the industry and considered a �woman to watch� and likely to be an influential leader in the industry.

Free Fallin'?

Wed, 28 Oct 2009 13:04:55 UTC

Pull out the old VCR and rewind the tape. Some common wisdom holds that the commercial real estate market is destined for, if not already in the midst of, a replay of its early 1990s crash, around the time Dana Carvey was parodying the first President Bush on Saturday Night Live, Sinead O�Connor topped the charts, and the brand-new Mirage Hotel was the glitziest palace on the Las Vegas Strip.

Economy Watch: J.P. Morgan Wants to Sell; Will Buyers Want to Buy?

Wed, 28 Oct 2009 13:04:55 UTC

Are there any buyers out there for office properties--office properties that aren't distressed, that is? J.P. Morgan Chase might well find out in the coming months.

Economic Update: No New Stimulus--For Now

Wed, 28 Oct 2009 13:04:55 UTC

Time for another round at the federal stimulus bar? Both President Obama and U.S. Treasury Secretary Timothy Geithner say no. In his weekly radio address on Saturday (recorded, since he was in Ghana), the president said that the initial plan "was not designed to work in four months," Obama said. "It was designed to work over two years."

Time to Reduce Leverage

Wed, 28 Oct 2009 13:04:55 UTC

Industry players believe real estate companies need to reduce their leverage levels, according to a June fast poll on cpnonline.com.

Economic Update - Tesco Completes Sale-Leaseback, CMBS Deals

Wed, 28 Oct 2009 13:04:55 UTC

British retailer Tesco Plc. inked a sale-leaseback of 14 properties. The sale-leaseback followed on the heels of the company's successful completion of the sale of commercial mortgage-backed securities. The offering by Tesco may mark the glimmering beginnings of a new, simpler CMBS market.

Economic Update - CRE Defaults Head for High Ground

Wed, 28 Oct 2009 13:04:55 UTC

A new report by Real Estate Econometrics, based on FDIC data, puts thecommercial real estate loan default rate at its highest level in morethan a decade and a half, at least those loans held by regulateddeposit-taking institutions�banks and thrifts, for the most part. Thedefault rate soared from 1.62 percent in the last quarter of 2008 to2.25 percent in the first quarter of 2009. That rate doesn�t includedefaults on loans associated with multi-family rental properties, whichReal Estate Econometrics put at 2.45 percent in the first quarter of2009, up 68 basis points from the previous quarter.

ProLogis Announces Full Occupancy at 531,000-SF Houston Distrib Park

Wed, 28 Oct 2009 13:04:55 UTC

ProLogis announced today full occupancy at ProLogis NorthPark, a recently developed, four-building, 531,000- square-foot distribution park located in Houston.

Economic Update - Mortgage Rate Worries Weigh on Housing Market

Wed, 28 Oct 2009 13:04:55 UTC

General Motors was in the news over the weekend before the largest bankruptcy in U.S. history (that is, its own), but more worrying for many policymakers, economists and ordinary borrowers is last week's sudden spike in mortgage interest rates.

Economic Update - CRE Buyers Looking for Deals

Wed, 28 Oct 2009 13:04:55 UTC

Turns out that the recession is still on, at least if the latest numbers from payroll firm ADP accurately reflect the state of hiring and firing in the nation. According to ADP on Wednesday, U.S. companies cut an estimated 532,000 employees from their payrolls last month, with goods producers laying off 267,000 workers, and service providers shedding 265,000 positions.

American Realty Plans $30M Houston Industrial Buy

Wed, 28 Oct 2009 13:04:55 UTC

American Realty Capital Trust Inc. plans to acquire a newly constructed freight facility entirely net leased to FedEx Freight in the coming weeks.

M-F Mortgage Delinquencies Increase in Q1, Says MBA

Wed, 28 Oct 2009 13:04:55 UTC

The weakening economy and continued credit crunch led to increases incommercial/multifamily mortgage delinquencies during the first quarter of 2009, according to the latest Commercial/Multifamily DelinquencyReport, released by the Mortgage Bankers Association.

Moody's: Outlook for M-F REITs Stable for Now

Wed, 28 Oct 2009 13:04:55 UTC

During the fourth quarter of 2008 and first quarter of 2009, the fundamentals of the apartment industry steadily eroded, and the forecast for rental demand remains uncertain. Still, the overall outlook for the multi-family REIT sector is stable, according to a report by Moody's.

Financing Keeps Rolling in for Colonial

Wed, 28 Oct 2009 13:04:55 UTC

Despite the fact that widespread job losses have begun to take a toll on the multi-family market, owners of this asset type are still able to secure financing in what remains a frigid lending environment. Just three months after having wrapped up a $350 million secured credit facility, Colonial Properties Trust has landed another major financing deal with the closing of a new $156.4 million secured credit facility.

Capital Markets' Distress Mingles with Hints of Improvement

Wed, 28 Oct 2009 13:04:55 UTC

Signs of growth in distressed properties are mixing with evidence that the U.S. and global real estate markets are starting to stabilize, according to a recent analysis by Jones Lang LaSalle Inc.

Economic Update - Mortgage Rate Worries Weigh on Housing Market

Wed, 28 Oct 2009 13:04:55 UTC

Economic Update - Foreclosures Spike Among Prime-Mortgage Holders

Wed, 28 Oct 2009 13:04:55 UTC

The tsunami of residential foreclosures may have started, back in the days of easy mortgage money, with borrowers whose only qualification was being able to fog a mirror. About half of those kinds of subprime mortgages have resulted in a foreclosure outcome, and Alt-A-inspired foreclosures are spiking too. But now, according to the Mortgage Bankers Association, foreclosures on prime fixed-rate loans represent the largest share of brand-new foreclosures.

In Slow Central Valley Market, 685,000-SF Sale Makes Splash

Wed, 28 Oct 2009 13:04:55 UTC

Industrial property sales in San Joaquin County in California's Central Valley have been practically nonexistent this year, but USAA Real Estate Co. just broke the monotony with the acquisition of a 658,000-square-foot distribution facility in the city of Tracy, about an hour east of San Francisco.

ProLogis Leases 75,000 SF in United Kingdom

Wed, 28 Oct 2009 13:04:55 UTC

ProLogis has leased 75,000 square feet of recently completed distribution space near Heathrow International Airport in the United Kingdom to City Link, the UK's parcel delivery service and subsidiary of Rentokil Initial.

As Condo Market Remains Tight, Miami Tower Scores Key Fannie Approval

Wed, 28 Oct 2009 13:04:55 UTC

In the midst of the sluggish economy and tight credit market, condominium developers are having a tough time selling units. As a result, many projects across the nation have been reverted to rental or stalled outright. But in the midst of one of the most hard-hit condo markets--South Florida--at least one developer is breathing a bit easier.