commercial real estate

Costar…

This week a bankruptcy court judge approved the sale of the venerable but cash-strapped Grubb & Ellis Co. to BGC Partners, Inc., ushering in the latest in a series of changes that have roiled the commercial real estate brokerage business. Next comes the hard work involved in exiting bankruptcy and integrating the new acquisition. Among the challenges the two firms face are preserving Grubb & Ellis’s property and facilities management and brokerage…

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After Sale Approval In Bankruptcy Court, Grubb & Ellis Moves To Next Phase Under BGC

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Costar…

Even among the stream of positive real estate surveys and forecasts recently, the one issued this week by the Urban Land Institute (ULI) stands out. Expressing the consensus views of 38 leading real estate economists and analysts from across the U.S., ULI reported commercial real estate market conditions and the overall economy is expected to see broad improvement over at least the next two years as the recovery cycle kicks into overdrive and shifts…

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ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014

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Reality Is Setting In

March 28, 2012

LOS ANGELES — Magic Johnson is about to learn $2 billion only buys you so much. Now he’ll need to bring the Los Angeles Dodgers the same success he brought the Lakers. News that Johnson and his partners agreed to purchase the team sparked a groundswell of excited chatter and optimism Wednesday that the man who ran “Showtime” could restore luster to the once-proud franchise. The amount Johnson and his partners are paying would be mind-blowing if it was just for the team itself. But it also gives Johnson’s group the right to reel in future riches from TV and real estate associated with the Dodgers. “A big part of the purchase price is all those other things,” said David Carter, executive director of USC Sports Business Institute. “You’ve got a great piece of property you can develop and make a game-day experience around Chavez Ravine. A likely billion-dollar cable (television) rights deal that will come out of it makes it a very unique sale.” Current owner Frank McCourt handpicked Johnson’s group to buy the Dodgers just five hours after Major League Baseball approved three finalists in a bankruptcy auction. “The interest in this franchise and its historic sale price are profound illustrations of the great overall health of our industry,” baseball Commissioner Bud Selig said. “This has been a long, difficult process, and I once again want to thank the great Dodger fans for their loyalty and patience.” Johnson is seemingly a perfect fit. He lives locally, he already knows what it takes to win championships, and he’s proven he can succeed in real estate, retail and entertainment – keys to helping the team bolster its coffers in pursuit of big-money free agents. “He’s well-grounded and well-respected,” Carter said. “You have a strong presence in the community, he’s connected to city hall, and has a good relationship with the media. All these things are important and will help the community get over Frank.” And Johnson still has the dazzling smile that will make him a great public face for what once was – and could be again – one of baseball’s marquee franchises. “Great day for the Dodgers,” slugger Matt Kemp said from spring training in Glendale, Ariz. “As Magic used to say, the Dodgers were the team that used to run L.A. Definitely we were going to have more fans out there this year. Now there’s another reason to have the fans turn out.” Retired Dodgers manager Tom Lasorda has known Johnson since he first came to play for the Lakers. “The most important part is he’ll talk to some of the players individually about how to win. That’s what we got to do right now is win again and bring our fans back,” he said. “He knows how to talk to people, he knows how to impress people and how to build people up.” Hours after the announcement that Johnson’s group was the winning bidder, the Dodgers said their April 10 home opener was sold out. “As soon as you hear the name Magic Johnson, it turns into a positive,” Dodgers manager Don Mattingly said. “There’s positive energy around the ball club, around the city.” Johnson’s business acumen is equal to his success on the court. The 52-year-old Hall of Fame guard won championships at Everett High in Lansing, Mich., at Michigan State and five NBA titles with the Lakers. After being forced to retire suddenly in 1991 with HIV, Johnson remade himself into a successful entrepreneur and became a respected voice as an HIV activist and campaigned to educate people about the disease. Johnson is well-known for his self-named nationwide chain of movie theaters, movie studio, and promotion company. He previously owned more than 100 Starbucks franchises and had a minority ownership in the Lakers. His other ventures include commercial real estate and health clubs. “Magic Johnson is probably the most beloved sports figure in Los Angeles history,” Lakers owner Jerry Buss said. “He has been a success in everything else he’s become involved with, most notably his spectacular business career and also his educational campaign on behalf of HIV awareness.” Johnson’s reputation as a winner in sports and business lends a new air of credibility to the Dodgers, who saw attendance plummet below 3 million in McCourt’s final season when fans bashed his stewardship of the team. “I think they’ll be able to fill the stadium just because of Magic,” said Mike Baldwin, a longtime fan who quit going to games after McCourt bought the team in 2003. “I don’t think baseball could have done a better job than to pull him in.” Johnson’s partners in buying the Dodgers include Stan Kasten, former president of the Atlanta Braves and Washington Nationals; and Peter Guber, a longtime Hollywood executive and co-owner of the NBA’s Golden State Warriors. Mark Walter, chief executive officer of the Chicago-based financial services firm Guggenheim Partners, would be the controlling owner. The group’s other investors include Guggenheim Partners President Todd Boehly and Bobby Patton, whose investments include oil and gas properties. But Johnson’s name and smile are what lit up fans’ moods in the city where he remains the most enduring and beloved sports superstar. “There’s a lot of euphoria about the fact that it’s Magic and it’s no longer Frank,” Carter said. “He’ll have a honeymoon period and I think most people in Southern California hope he doesn’t need it.” ___ Associated Press Writer John Rogers contributed to this report.

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In The Pipeline: CoStar Development & Construction News for March 25 – 31

March 27, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Architects Report Higher Billings For 4th Straight Month The

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As Investors Shift Focus, CRE Sales Volume Falls Off

March 22, 2012

While February is always the slowest month of the year for commercial real estate investment sales, activity last month dropped off sharply from sales volume in January — but more importantly sales volume also declined from a year ago. While CoStar has not completely closed the books on its COMPs research for February 2012 and the sales volume for that month will still go up slightly–the gap is such that sales volume for February 2012 is unlikely…

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In The Pipeline: CoStar Development & Construction News for March 18 – 24

March 20, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Developer Breaks Ground on Mixed-Use in South Florida Stiles…

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Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy

March 15, 2012

Distressed trading volume has stabilized but continues to remain at elevated levels, increasing by approximately 2% last year over 2010. However, a surge in non-distressed property trading driven by improving economic conditions has begun to mitigate its impact on commercial real estate pricing levels overall. According to CoStar Group data, the volume of distressed transactions in December 2011 remained well above the average monthly volume for…

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Plenty of Recession Damage Still Left To Undo

March 15, 2012

The commercial real estate rubble still left over from the Great Recession continues to exact a punishing toll on property values and owners’ and lenders’ books. In this statistical state analysis, CoStar Group has identified 168,580 office, flex, industrial and retail properties in its national property database with a vacancy rate of 60% or more. The number of properties by type at this level of vacancy distress is as follows: Retail: 67,525…

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CoStar CRE Pricing Indices Continue Upward Trend In January

March 15, 2012

CoStar’s monthly National Composite Index of commercial real estate prices opened 2012 with a 1.5% increase as the ongoing recovery reaped the benefits of improving investor confidence and steady pricing growth. With the gain in January, the National Composite Index is now 1.9% above the same period last year and has posted gains in eight of the last nine months since April 2011, with an average monthly increase of 0.8% — consistent with steady…

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Auction Sales Keep Going, Going, Going Up

March 15, 2012

One of the clear winners so far in the post Great Recession market are commercial real estate auctioneers. The dollar volume of CRE properties sold via auction jumped 33% from 2010 through 2011. Auction sales, excluding non-arms length foreclosures, jumped from $2.52 billion in 2010 to $3.35 billion, according to data from CoStar COMPs. It should be noted that these numbers may under-report the amount and volume of auction-based sales activity…

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Facing Wave of Maturities, More Banks Expected To Sell Non-Performing Loans in 2012

March 15, 2012

After years of slim pickings as many banks opted to extend non-performing loans (NPL) to CRE owners, investors are finally enjoying an uptick in opportunities for acquiring distress commercial real estate assets, according to the latest Ernst & Young U.S. nonperforming loan survey, At the crossroads: Ernst & Young 2012 real estate nonperforming loan investor survey. Improving bank earnings and declining loan loss reserves, coupled with the sheer…

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Banks Returning to CRE Lending via Multifamily, Owner-Occupied Properties

March 8, 2012

It’s not a big hook to hang a hat on, but the small increase in some commercial real estate loan balances on bank books at the end of the year serves as yet another indication of thawing lending markets for property investors. Overall loan balances on bank books posted their largest real growth in four years, according to year-end numbers released this past week by the Federal Deposit Insurance Corp. (FDIC). As far as CRE lending goes, it was…

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In The Pipeline: CoStar Development & Construction News for March 4 – 11

March 6, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Old Wholey’s ‘Fish’ Building Slated For Conversion to Office…

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U.S. Mint HQ Fetches $147.5 Million

March 2, 2012

NSP Ventures Corp. purchased the U.S. Mint headquarters building at 801 Ninth St. NW in Washington, DC, from Wereldhave USA Inc., a commercial real estate investment firm based in the Netherlands, for $147.5 million, or approximately $624 per square foot. The eight-story, 236,054-square-foot office property is one block away from Gallery Place Metro Station and is next to the 1.9 million-square-foot mixed-use CityCenterDC development. Stanley…

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In The Pipeline: CoStar Development & Construction News for Feb. 27 – March 3

February 27, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Architecture Billings Point Toward Slow Recovery The Architectu

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In The Pipeline: CoStar Development & Construction News for Feb. 12-18

February 14, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Brooklyn Tower Expected to Break Ground Late This Year The…

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In The Pipeline: CoStar Development & Construction News for Feb. 5-11

February 7, 2012

In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. ACC Begins Student Housing Project at Drexel University American…

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Cautious outlook for real estate in 2012

February 2, 2012

(MENAFN – Arab News) Macro-economic and political landscape uncertainty suggests that a cautious outlook for commercial real estate is likely to persist into 2012, according to a new report from …

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US Small Business Lending At Near 4-Year High

January 2, 2012

* Rising borrowing points to underlying economic strength * Loan delinquencies ebbing By Lucia Mutikani WASHINGTON, Jan 2 (Reuters) – Borrowing by small U.S. businesses hit its highest level in nearly four years in November, pointing to underlying strength in the economy. The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small businesses, surged 10.2 points to 106.4, the highest level since February 2008. The index was up 18 percent from November 2010. “We are entering a new phase of the business cycle,” said PayNet founder Bill Phelan. “Businesses are betting on the future with increased investment spending.” PayNet tracks borrowing by millions of small U.S. businesses and provides risk-management tools to the commercial lending industry. The survey adds to other data suggesting the economy gathered momentum in the final three months of 2011, which should help it to better handle the headwinds from the debt crisis in Europe and fights over budget policy in Washington. Fourth-quarter economic growth is seen exceeding a 3 percent annual pace, an acceleration from 1.8 percent in the third quarter. The Thomson Reuters/PayNet small business lending index has some leading correlation with gross domestic product, preceding changes in the overall economy by two to five months. “It (surge in borrowing) tells us there will be growth for at least the next quarter,” said Phelan. “There is underlying strength in the economy that is not being reported elsewhere.” While Europe’s fiscal troubles appear not to have affected the flow of credit to small businesses, they pose a big threat to the economy’s growth prospects in 2012. Added to that is the uncertainty over fiscal policy in the United States. The survey also found that small businesses are getting better at managing their debt, with loan delinquencies continuing to drop. Accounts in moderate delinquency, or those behind by 30 days or more, dropped five basis points to 1.50 percent in November. Those behind 90 days or more in payments, or in severe delinquency, slipped 1 basis point to 0.39 percent. Accounts 180 days or more, or in default and unlikely ever to be paid, fell six basis points to 0.58 percent. “We are now in this new phase of growth and low risk. The key question is how long is this phase going to last?” said Phelan. (Reporting By Lucia Mutikani; Editing by Neil Stempleman)

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Rocky Road: Food Trucks Clash With Downtown Businesses

December 21, 2011

This article comes to us courtesy of SF Weekly . By Jonathan Kauffman When Anamika Khanna and Tim Volkema, two of Kasa Indian Eatery’s owners, learned that the Department of Public Works would start taking applications for food-truck permits on Mar. 7, 2011, they camped outside the office for three rainy nights, joining other food-truck owners eager to claim prime locations. Khanna and Volkema had spent weeks scouting locations for their two unbuilt trucks, and they had specific criteria. “We wanted to not block a storefront, not be near an Indian restaurant, and to observe all the rules around sidewalks and parking places,” Khanna said. Most of the spots they chose were in the Financial District, where they could park for a few hours in a busy area, sell lunch, and leave. They filed their permit applications and paid to send notification letters to all businesses within 300 feet of each site. Soon after, Moneshpal Josan, owner of a Subway and a 7-Eleven on Drumm Street, received his notification that Kasa was applying for spots at 50 California and 61 Beale, both close to his shops. He immediately filed a protest, as did several other restaurant owners and FiDi property managers. At the April 2011 hearing, the DPW granted six of the eight locations Kasa had applied for, including 50 California and 61 Beale. Meanwhile, Josan had received notice of four more permit applications, including a coffee-and-pastry truck applying to park directly in front of his 7-Eleven. “This guy wants to block my front view and steal my customers off the sidewalk, and the city has allowed him to apply,” he fumes. Downtown businesses have decided to fight back en masse against the trucks. An informal coalition of lawyered-up restaurateurs and property managers filed nine separate appeals against Kasa’s two FiDi spots, as well as four more appeals against two nearby spots the city had awarded to Doc’s of the Bay, a hamburger truck. An acrimonious showdown took place Wednesday, Dec. 14, at the Board of Appeals, ending in defeat for both food trucks, despite their having followed the DPW process to the letter. The hearing, a de facto town hall on the validity of the city’s new food truck ordinance, demonstrated the fear that downtown businesses are feeling about the food truck scene — and the considerable flaws in the new ordinance as it has been crafted. With dozens more trucks applying to park on the same blocks, the board’s decision last week may determine the future of food trucks downtown. Before Mar. 7, 2011, a food truck owner wanting to park on the street needed to apply to the Police Department for a permit to park at up to five specific spots. The process was expensive — $9,300 for the initial fee — but straightforward, and did not include public input. In late 2010, then-Supervisor Bevan Dufty, seeking to help out the exploding food truck movement, worked with numerous groups to streamline the permitting process, reduce fees, and move it under the aegis of the DPW. The Board of Supervisors unanimously passed the new ordinance in December 2010. Instead of fostering the food truck scene, the Dec. 14 hearing showed that the supervisors may have made it harder — and ultimately more expensive — for trucks to park on the street. Especially downtown. The two spots Khanna and Volkema selected are blocks of tall buildings, with few street-front businesses and no trucks to date. Most of the existing restaurants serve similar food. “There is an oversaturation of one type of food: sandwiches, soups, and salad,” Khanna says — nothing like Kasa’s kati rolls and curry rice plates. The parking places are one-hour metered spots, some in yellow zones, but that didn’t seem to be a problem to Kasa’s owners — dozens of long-permitted food trucks park in identical spaces. Another nonissue, they thought: the Health Department’s requirement to secure an agreement from an existing business to let Kasa’s employees use the bathroom. Kasa paid $5,000 for the permit that was subsequently contested. It named four locations, one of which the DPW rejected before the first hearing. After the hearing, Khanna and Volkema now only have one approved Mission Bay location left on the permit. If they decide to move or change hours when their year is up, they’ll have to repeat the entire process. While Khanna and Volkema assumed they were bringing something new to office workers, downtown restaurateurs saw the Kasa truck as a direct competitor — one whose operating costs were far below their own. “Downtown restaurants’ rent is $9,000-$15,000 a year, and most are quick-service restaurants,” says Alex Aguilar, owner of Orale Orale, two blocks away from 50 California. Kasa may only have been applying to park near him a few hours a day, but those were the hours when Orale Orale does the bulk of its business. Another group anxious to block downtown food trucks are real estate management firms representing building owners and restaurant tenants. They’re convinced that the onslaught of food trucks is going to drive down rents and, ultimately, the value of commercial real estate. The managers have gained the support of the powerful Building Owners and Managers Association (BOMA), whose San Francisco director of government and public affairs, Ken Cleaveland, came to the hearing to speak in favor of the appellants. “The new legislation was supposed to bring life and vitality to parts of the city that didn’t have established food vendors,” he told the SF Weekly in a telephone interview. “I completely concur with that. But the mobile food facilities have descended on downtown with an overwhelming number of permits.” The DPW says 89 applications have been received since Mar. 7, and each one can include up to seven locations; roughly half cite spots in the FiDi. Only 15 of the first batch of permits have been granted, eight of them for downtown sites. With many more applications in the pipeline and energized opposition, there will be many more hearings like last week’s. The Board of Appeals upheld the appeals based on several technicalities, including a bathroom agreement form that Kasa hadn’t had signed. But board members universally condemned the new food-truck legislation for its vague language and potential for economic harm. While the battles heat up in city hearing rooms and along gossip grapevines, Supervisor Scott Wiener, who has taken on Bevan Dufty’s oversight of the food-truck ordinance, has organized a working group to address some of the challenges and gaps in the new legislation. BOMA is involved in the group, which has met once so far, as are the Golden Gate Restaurant Association, and Matt Cohen, founder of Off the Grid. Being discussed, members say, are critical questions like “Should there be a density cap on food trucks downtown?” and “What should we do about metered parking spots?” Then there’s the quandry of what constitutes fair competition: Are Kasa’s kati rolls distinct from ham sandwiches, or should both be considered takeaway food? Khanna and Volkema say that though they are disappointed in the outcome, they remain “resilient and respectful.” Subway owner Josan, meanwhile, is angry at the city for all the time and money he’s losing fighting off the new trucks. “The city administration has handled this very callously,” he says. “Very irresponsible. That’s harsh, but I’ll use that term.” For more news from around town, follow SF Weekly on Twitter .

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New York City Faces ‘Extreme Downside Risk’ From European Debt Crisis: Report

December 16, 2011

(Joan Gralla) – New York City’s economy faces an “extreme downside risk” from Europe’s debt crisis because its banks hold over $1 trillion of assets in the city, where they are active lenders, according to a new report released on Thursday. The city’s economy is intertwined with Europe’s because non-financial companies have significant ties to European companies while millions of tourists from this region visit the city every year, according to the report by City Comptroller John Liu. “In light of these widespread commercial interactions, adverse effects on the City’s economy from Europe’s debt crisis appear alarming and lend greater urgency to addressing existing budget issues,” Liu said in a statement. This potential problem could bedevil New York City’s finances, which already are being pressured by the job-cutting downturn of its prime industry: Wall Street. The Democratic comptroller warned that Mayor Michael Bloomberg might be underestimating some risks. The list includes the difficulty of negotiating labor contracts for teachers and supervisors with no wage increases for the past round of bargaining and the possibility that cash-poor New York state will cut $200 million in aid. A mayoral spokesman, saying Bloomberg had warned that New York City’s economic outlook was uncertain, added: “He has kept the city’s fiscal house in order while delivering services that continue to produce record results through two historic downturns.” The kinds of risks that Liu indentified could help widen the city’s budget gaps to $1.7 billion in the current accord, $3.2 billion in fiscal 2013, $4.4 billion in 2014 and $5 billion in 2015. The city’s current budget is balanced. Bloomberg, a political independent, has forecast smaller gaps of $2 billion in 2013, $3.8 billion in 2014 and $4.9 billion in 2015. On the positive side, the comptroller estimated that the city’s five pension funds will cost less than Bloomberg predicted, which could save more than $1 billion from the current fiscal year to 2015. Though New York City typically benefits when the stock market rises, as it sweeps in higher tax collections from profitable banks and brokerages and individuals with capital gains, there is a plus to the market’s current roller-coaster ride. “The Comptroller’s Office believes that continued stock market volatility and low interest rates will further encourage institutional investors to shift portfolios towards commercial real estate, especially in premium markets such as New York City, thereby stimulating transactions of commercial property,” the report said. (Reporting By Joan Gralla) Copyright 2011 Thomson Reuters. Click for Restrictions .

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Bryan Shaffer of George Smith Partners Originates Complex SRO Multi-Family with Ground Floor Retail Repositioning Loan

September 24, 2011

This week, Bryan Shaffer of George Smith Partners (GSP) originated $4,200,000 repositioning loan for 196 Unit SRO Multi-Family Apartments with Ground Floor Retail. GSP’s client required capital to complete the renovation and redevelopment of an affordable SRO Multi-Family Apartment Building with ground floor retail located in Downtown Los Angeles. The high-profile property had a troubled [...]

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Home Builders Run Out of Lifelines

August 31, 2011

From WSJ.com… Five years into a housing meltdown, questions are arising about how long some home builders can survive without significant improvement in the market. Follow this link: Home Builders Run Out of Lifelines Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Wells Fargo Jumps on Commercial Deals

August 31, 2011

From WSJ.com… As the U.S. banking sector is reducing its exposure to commercial real estate, Wells Fargo has taken a different approach: expanding lending to the sector while also buying real-estate loans from other banks. View the original here: Wells Fargo Jumps on Commercial Deals Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Kerzner Weighs Atlantis Dubai Sale

August 30, 2011

From WSJ.com… The owner of several luxury resorts is exploring selling its 50% stake in the property to raise money to restructure $2.6 billion in mortgage debt. Taken from: Kerzner Weighs Atlantis Dubai Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Fed Split on Move to Bolster Economy | www.bullfax.com

August 23, 2010

The Federal Reserve will provide loans to finance the purchase by investors of bubble-era commercial mortgage-backed securities from July onwards in a move officials hope will stem a financing crisis in the commercial real estate industry … Citigroup will close a chapter in its troubled history with the spin-off of Primerica, its door-to-door insurance unit, in a move that will raise about $250m and should enable the US bank to move more than $2bn in assets off its …

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InsideTrack: $100 million deal just the start for Duke Realty

August 23, 2010

For many real estate investors, particularly in a troubled commercial market, making the most expensive office purchase of 2010 in South Florida would be enough for them to put away the checkbook and call it a year. But to executives…

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Videos On Marketing. Real Estate Time BOMB. Foreclosures and the …

August 23, 2010

… homes on the market, the impact of real estate -owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled Asset Relief Program (TARP) and other bailout … …. great video, reminds me of southern california, there is a way to make money from a declining commercial real estate market… check out DRV. it is like a mutual fund which is positioned to make money shorting the commercial real estate market. …

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Real Estate News: Mortgage Fraud Rises Again – Developments – WSJ

August 23, 2010

Troubled Office Building Gets New Owner: A New York real – estate investment firm, has gained control of a financially troubled Manhattan office building at 104 W. 40th St. in a “loan-to-own” deal that values the building at less than half what the previous owners paid. … Apartment Defaults Propel Delinquency: A close look at the numbers shows that the problem with commercial real – estate delinquencies has mostly been with apartment buildings. « Previous …

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How to Market Proof Your Real Estate Business | World Finance News

August 23, 2010

As an example, the multi housing and apartment markets are traditionally more profitable and stable even in troubled economic times. The market for newly built houses is still strong, going against the general trend by increasing in the first … Many realtors realize the long term potential of commercial real estate and concentrate exclusively on that aspect of the business. If you have the ability to relocate or to conduct real estate transactions in other parts of the …

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Confidence (2) — Greater Fool – The Troubled Future of Real Estate

August 19, 2010

seen a definate increase in commercial for sale/lease. Everyone must have been educated by WalMart on how to flatten their distribution chain. #35 Cameroni on 08.19.10 at 10:54 pm. Two or three more months of real estate declines and …

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The worst bet in real estate today: Construction loans | Habib …

August 17, 2010

Then again, a council of federal bank regulators issued a statement last October encouraging banks to work with commercial real estate borrowers struggling with empty office space and storefronts, evaporating rental income and collapsing property prices. “Prudent loan workouts are often in the … So, many bankers have chosen to wait it out, extending the terms of loans to troubled developers to keep from having to foreclose and take possession of a half-built headache. …

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Vendors — Greater Fool – The Troubled Future of Real Estate

August 15, 2010

Real estate board stats from across the country are confirming this. Sales may have crashed, but prices have not. Predictably. Listings have taken a tumble as scores of deluded owners decide to ‘wait it out’ and re-list their homes this …. No fooling, those ads run almost non stop during every commercial break. Business must be very good. “I need lots of money and don’t know what to do, (que the music) “making your home equity work for you” ” I want a kitchen reno and …

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NNN Brokers USA – San Francisco Commercial Real Estate News: “The …

August 10, 2010

Deal-making in the troubled commercial real-estate sector rose noticeably in the second quarter partly, according to bankers and other industry experts, because property values have rebounded from their and bank balance sheets are …

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Financial Strains on Office Owners Grow More Widespread, Says Trepp

August 10, 2010

Once a bright spot in the troubled commercial mortgage-backed securities (CMBS) market, the office sector now finds itself in the eye of a storm. The volume of delinquent office loans increased from $7.5 billion in December 2009 to $13.4 billion in July, a 78% increase, according to New … That figure represents 25% of the overall volume in special servicing,” says Paul Mancuso, a vice president with Trepp, an independent commercial real estate data and analytics firm. …

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Banks Cut Prices to Dump Troubled Commercial Real Estate Assets …

August 9, 2010

… banks are “slashing prices” to exit distressed assets in the beleaguered central Florida market from their balance sheets. This is in contrast to the … The rest is here: Banks Cut Prices to Dump Troubled Commercial Real Estate Assets …

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Banks Cut Prices to Dump Troubled Commercial Real Estate Assets …

August 9, 2010

Banks Cut Prices to Dump Troubled Commercial Real Estate Assets. Friday, August 06, 2010. Source: Orlando Business Journal · Orlando Business Journal reports: According to the Orlando Business Journal, banks are “slashing prices” to …

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Good News For Troubled Commercial Real Estate: Increase In Carried …

June 29, 2010

As I’ve commented previously, Congress has been contemplating imposing a stiff tax increase on the “carried interest” or a developer’s “

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Arizona commercial real estate brokers: Some lenders ignore crisis

May 30, 2010

Arizona’s housing market is deep into the process of flushing out its bad mortgage debt. But lenders and borrowers of troubled commercial real-estate loans continue to live a lie. Commercial real-estate brokers have coined a phrase, …

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Video: Anderson Says Price Bottom in Commercial Real Estate: Video

February 19, 2010

Feb. 19 (Bloomberg) — Matthew Anderson, a partner at Foresight Analytics, talks with Bloomberg’s Betty Liu about the commercial real-estate market. Anderson speaks from San Francisco. (Source: Bloomberg)

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Piedmont Office Realty Trust, Inc. Prices Offering of Class A Common Stock

February 9, 2010

ATLANTA, Feb. 9, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. (“Piedmont”) has priced its public offering of 12,000,000 shares of its Class A common stock at $14.50 per share. Piedmont’s Class A common stock is expected to begin trading on February 10, 2010 on the New York Stock Exchange under the ticker symbol “PDM.” The underwriters have a 30-day option to purchase up to an additional 1,800,000 shares from Piedmont.

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CoStar Group Purchases a 2008 Class A LEED Gold-Certified Office Building

February 5, 2010

BETHESDA, Md., Feb. 5, 2010 (GLOBE NEWSWIRE) — CoStar Group, Inc. (Nasdaq:CSGP) the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced the Company has purchased an office building at 1331 L Street, N.W. in Washington, D.C., through a wholly owned subsidiary, for $41.25 million where it plans to locate its Headquarters.

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Altisource Portfolio Solutions Announces Fourth Quarter 2009 Conference Call

February 4, 2010

LUXEMBOURG, Feb. 4, 2010 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions (Nasdaq:ASPS) announced today that the company will release fourth quarter 2009 earnings on the morning of Wednesday, March 10, 2010. A press release and presentation will be available on the company’s website (www.altisource.com) via the Investors Relations section.

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OptimumBank Holdings Announces Fourth Quarter and Year End Loss

February 1, 2010

FORT LAUDERDALE, Fla., Feb. 1, 2010 (GLOBE NEWSWIRE) — OptimumBank Holdings, Inc. (Nasdaq:OPHC), holding company for OptimumBank, reported a net loss for the fourth quarter ended December 31, 2009 of $6,053,615 or $(1.85) per basic share compared to a net loss of $499,629 or $(.16) per basic share for the prior year quarter ended December 31, 2008. The Company reported a net loss of $8,478,795 or $(2.59) per basic share for the year ended December 31, 2009 compared to net income of $519,645 or $.17 per basic share for the same period last year.

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Asia Properties Completes SEC Filings to Become Current

January 27, 2010

HONG KONG and BELLINGHAM, Wash., Jan. 27, 2010 (GLOBE NEWSWIRE) — Asia Properties, Inc. (API) (Pink Sheets:ASPZ) confirmed today that it has completed its SEC filings and is now up-to-date and current with its required information.

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Meritage Homes Reports Fourth Quarter and Full Year 2009 Results

January 26, 2010

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The Garibaldi Group Celebrates Its 90 Year Anniversary by Giving Back

January 25, 2010

CHATHAM, N.J., Jan. 25, 2010 (GLOBE NEWSWIRE) — The Garibaldi Group just celebrated its 90

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Associated Estates Announces 2009 Allocations of Common and Preferred Share Dividends

January 25, 2010

CLEVELAND, Jan. 25, 2010 (GLOBE NEWSWIRE) — Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq:AEC) announced today the 2009 tax allocations of the dividends paid by Associated Estates on the Company’s common and preferred shares.

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