Latest Articles
AB2640 Seeks to Repeal 1031 Exchanges in California
March 15, 2010
First of all, for those of you who dropped me a note wondering if I was still alive, rest assured I am. Thanks for the concern.
Now to the pressing issue, a bill within the California state assembly which seeks to repeal the tax benefits of 1031 exchanges in California. We’ve been discussing for a while [...]
The Cleveland Fed Justifying Its Existence
March 3, 2010
….this was actually put out by the Cleveland Fed on March 1, 2010. I wouldn’t believe it unless I saw it.
[via ZeroHedge]
$46B in CMBS Balances Now Delinquent
March 3, 2010
RealPoint’s February report is out and things continue to get worse on the CMBS front. Not only is the oustanding CMBS loan amount huge, but the rate of growth is staggering. The amount of distressed 90+ day loans rose 28% in one month.
In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 [...]
LeFrak and Flexner on CNBC
March 3, 2010
Tom Flexner, head at Citi Global Property and LeFrak of the LeFrak Organization on CNBC. Lots of capital sitting on the sidelines, and LeFrak is trying to figure out how to deploy it. Flexner’s answer: reduce your return requirements.
Golden State Portfolio Hits The Market
March 2, 2010
Back in December, CBRE won the pony show to sell off a 7 million square feet portfolio of our property. It’s officially hit the market and just in time for IOU’s.
San Jose Update
March 1, 2010
The Redevelopment Agency has issued its monthly report and while activity at downtown San Jose condos seems to be improving, sales continue to be extremely slow:
360 Residences – 0/213 Units Closed Escrow (but they are getting a Subway on the ground floor!)
Axis – 86/329U Closed Escrow
City Heights – 95/124 Units Closed Escrow
Tower 88 – 57/197 [...]
Dimon: California Larger Risk Than Greece
February 28, 2010
Jamie Dimon, the chief of JP Morgan Chase has indicated that California poses a larger risk than Greece.
Mr Dimon told investors at the Wall Street bank’s annual meeting that “there could be contagion” if a state the size of California, the biggest of the United States, had problems making debt repayments.
Dimon isn’t the first to [...]
Bloom Energy
February 24, 2010
In case anybody missed it on 60 minutes… Sunnyvale-based Bloom Energy…
Watch CBS News Videos Online
Moodys’ Commercial Property Price Index Increases 4.1% In December
February 22, 2010
Moody’s CPPI registered another gain for December. The index rose by 4.1% in December, following a 1% increase in November, marking the second consecutive month of increases.
Despite transaction volumes up dramatically over previous lows, and prices beginning to rise, Moody’s remains cautious on the future, citing in its report that “it would be naïve and [...]
Record Breaking Land Site Headed Back to Bank
February 19, 2010
Back at the top of the market in 2007, Candy & Candy acquired an 8-acre development site in Beverly Hills. The price? $500,000,000 – or some $1400 per square foot!
Just three years earlier, the seller, New Pacific Realty, had acquired the site for $33.5M. It was encumbered with a long-term lease to the Robinson-May department [...]
