May 2009

Deal drought set to end as oil price stabilises

by admin on May 31, 2009

The oil and gas sector is starting to recover from the shock of the past two years.

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Deal drought set to end as oil price stabilises

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Bye-bye buyout; hello infrastructure

by admin on May 31, 2009

Private equity firms are turning to infrastructure investing now that the credit crisis and deepening recession have put their traditional leveraged buyout businesses into suspended animation.

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Bye-bye buyout; hello infrastructure

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Lennar tries to reclaim role in huge SoCal project (San Francisco Chronicle)

May 29, 2009

Homebuilder Lennar Corp.

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Resilient mortgage market cushions house price falls in Denmark

May 29, 2009

Danish residential property prices continue to decline in 2009. Single-family and terrace house prices fell on average by 10.8% (-12.4% in real terms) from a year earlier to end-Q1 2009, to DKK12,452 (EUR1,669) per square metre (sq. m.), according to the Association of Danish Mortgage Banks (Realkreditradet). This was the fifth consecutive quarter of such price falls.

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SWFs will benefit from a sophisticated touch

May 28, 2009

Sovereign wealth funds have been hit hard by the global downturn, but by refining their investment approach, outsourcing management roles and employing an active style, they could fare better in the future.

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Family Office Group Advisor Recruiting Process

May 28, 2009

The Advisor recruiting process at Family Office Group www.famofficegrp.com

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Repo Flood or Trickle?

May 26, 2009

From the Sacramento Bee : More than 20,000 troubled homes are growing into a massive “phantom” inventory that could potentially be unloaded onto an already fragile housing market. … [ForeclosureRadar's Sean] O’Toole , for one, believes big banks may continue to foreclose more slowly, and will “dribble out” their accumulated repo properties in hopes of a market change. “I talk to them,” he said. “It’s like, ‘If we don’t foreclose, we see the market heat up again. You get a certain number of people who believe it’s a bottom and the prices come back. Then we don’t need to foreclose. These people can sell and get out from under them and we end up OK.’ ” Dribbling them out slowly would keep prices stable, he said. But it also would prolong the housing correction. … Field Check’s [Mark] Hanson doesn’t buy O’Toole’s theory, even as they work off the same data. He predicts a flood of cheap repo inventory on the market this summer. “The government and bank-specific moratoriums and modification initiatives have held back the massive wave of foreclosures,” he said, “kicking the can down the road. But there is only so high the floodwaters can build before breaking the dam.” Yet even a torrent of repo inventory on the market won’t pull median prices – now at $160,000 for existing Sacramento County homes – any lower, he said. That’s because more higher-priced homes are in the foreclosure process and will tug the median upward in coming months. “It does not mean the market is getting better,” he said.

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Sacramento Real Estate Market – May 2009 Water Cooler

May 24, 2009

Post off-topic links, observations, and stories about the Sacramento real estate market here. Please read the comment policy before posting.

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DataQuick’s Sacramento Real Estate Market Statistics for April 2009

May 21, 2009

SacBee: Area median home prices begin to stabilize Updated: Capital-area home prices stop slide, for now DataQuick’s Sacramento real estate market statistics: by zip , by county Modesto Bee: Stockton Metro At 1999 Levels

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Commercial Real Estate Hurt by Credit Crunch and Weak Economy

May 20, 2009

Read the latest news from NAR and view the Commercial Leading Indicator.

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China fund looks abroad for private equity boost

May 18, 2009

China’s national pension fund is seeking approval to allocate money to overseas private equity firms for the first time as new research shows that Asian buyout groups are struggling to invest locally during the downturn.

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CalPERS revs up private equity, and vice versa « Calpensions

May 17, 2009

A financial news service, Bloomberg, reported in April that CalPERS put $1.7 billion into Leon Black’s Apollo private equity fund last year, more than twice as much as it gave to any other manager.

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Hospitality Properties Trust Announces Annual Meeting Votes (Business Wire via Yahoo! Finance)

May 15, 2009

NEWTON, Mass.—-Hospitality Properties Trust today announced the preliminary results of votes taken at its annual meeting of shareholders earlier today. Here is the original post: Hospitality Properties Trust Announces Annual Meeting Votes (Business Wire via Yahoo! Finance)

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Hungarian market sinks deeper

May 15, 2009

It looks as if the worst is yet to come for Hungary’s housing market, despite several years of weakness. The lack of new credit, combined with the economic recession, is likely to lead to sharper house price falls in 2009 and 2010.

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Sacramento Real Estate Market Charts – April 2009

May 15, 2009

After steadily declining this spring, average price per square foot rose 1.8% from March. According to TrendGraphix, that was the first monthly increase in Sacramento County since April 2007. Prices are still below January levels and down 23.1% from last year. Turning to median price, the Sacramento Association of Realtors reports the median price in Sacramento County (and West Sacramento) fell 29.5% in April. That was the first year-over-year decline since March 2008 not to reach at least -30%. So far, no “spring bounce” for median price as measured by the MLS. The median for single-family homes has been essentially flat since February. Unlike the previous three years, the median price has remained below January levels. The median price is now at April 2001 levels. Sales in April were 17% higher than the previous year. That was the smallest year-over-year increase since March 2008. Looking at the historical record, sales remain at relatively high levels. While the inevitable spring bounce between February and March was the weakest in at least 9 years, that is not surprising considering the record sales of January and February. Here’s a look at the percentage of MLS sales which were bank-owned. At its peak in January 2009, REO sales made up three-fourths of total MLS sales. That proportion has dropped off in the last few months as REO inventory has shrunk, presumably due to legislative tinkering and private foreclosure moratoriums. Finally, here’s an update on Sacramento County’s foreclosure statistics from ForeclosureRadar .

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Go-Between Tied Funds to Carlyle (New York Times)

May 15, 2009

The Carlyle Group , celebrated for its political ties as well as its global investment prowess, was eager to expand in the energy business. David M Read the original:  Go-Between Tied Funds to Carlyle (New York Times)

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Go-Between Tied Funds to Carlyle (New York Times)

May 15, 2009

The Carlyle Group , celebrated for its political ties as well as its global investment prowess, was eager to expand in the energy business. David M Read the original:  Go-Between Tied Funds to Carlyle (New York Times)

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Economists’ Commentary: Commercial Real Estate Faces Threat from CMBS Delinquencies

May 11, 2009

Adding to a difficult situation, commercial real estate is facing another threat–rising Commercial Mortgage Backed Securities (CMBS) delinquencies.

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CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

May 11, 2009

We are pleased to present headlines from around the globe… Headline: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust CalPERS Seeks Annual Board Elections for Hospitality Properties Trust Original post: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

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CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

May 11, 2009

We are pleased to present headlines from around the globe… Headline: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust CalPERS Seeks Annual Board Elections for Hospitality Properties Trust Original post: CalPERS Seeks Annual Board Elections for Hospitality Properties Trust

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MacKay Shields Adds Consultant Relations Head

May 8, 2009

New York Life Investment Management subsidiary MacKay Shields has hired Andrew Lai as head of consultant relations.

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CalPERS, CalSTRS Money Managers Used Agents Tied to N.Y. Probe (HispanicBusiness.com)

May 8, 2009

CalPERS and CalSTRS have invested at least $525 million with money managers who paid finder’s fees to two ‘placement agents’ under scrutiny in connection with a New York state pension fund scandal. The rest is here: CalPERS, CalSTRS Money Managers Used Agents Tied to N.Y. Probe (HispanicBusiness.com)

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