ULI Fall Meeting Overview in 60 Seconds
November 12, 2009
Joe Stampone, a blogger out of NY provides a good overview of the ULI Fall Meeting that took place in San Francisco last week in sound bites which will take about a minute to read. A few of them are below. You can read the rest on Joe’s blog.
- Ken Rosen: Lock in these extraordinary low interest rates, learn Mandarin if you can, and if you are a developer, find something else to do.
- Stephen Blank: Understand the implications of the 33 page government document on loan workout.
- Ray Torto, CBRE Chief Economist: the light at the end of the tunnel is not a train – the US is likely to bottom middle of 2010.
- Tom Peters: We are the victims of clever people like the Nobel Prize winner who invented derivatives.
- Gerry Hines: I was very concerned about the available debt and 3-4 cap rates.
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Categories:
Commercial Real Estate Investing | Miscellaneous
Tags: Commercial Real Estate, Gerry Hines, Ken Rosen, Ray Torto, Stephen Blank, Tom Peters, ULI
Tags: Commercial Real Estate, Gerry Hines, Ken Rosen, Ray Torto, Stephen Blank, Tom Peters, ULI
Thanks for passing along my post, it’s a great review of what looked like a great event. Unfortunately, I can’t take credit for the post, it was from Jean-Claude Goldenstein of CREOpoint. Keep up the good work, I’ve enjoyed following your blog.
@joestampone1
Thanks for the clarification! We’ll add you to our twitter list of cre bloggers
Would you mind adding me to your CRE bloggers list on Twitter as well? Much appreciated.
done!
much appreciated. enjoy the weekend.
Is anyone clear on which 33-page document to which Stephen Blank is referring?
most likely…. THIS ONE
Excellent. Many thanks fr clearing that up.
In fact, what are your and your readers’ thoughts on the recent proposal to tranche non-performing loans that have some modicum of cash flow into a performing loan (covered by the building cashflow) and either one or a few non-performing loans? It seems like a way to invent capital for banks, but I don’t even know how this is practicable, nor where the market for the non-performing tranches will come from. Isn’t poorly practiced securitization what got us into a mess in the first place?!
see my latest post today on the DDR CMBS issue. If you have cash flow, perhaps you can be saved, particularly if you are an otherwise strong owner, developer, etc.
If you are non-performing anything, be it a hard asset or just the paper, you’re probably out of luck. You have everybody on a heightened state of alert (borrowers, rating agencies, issuers, investors, etc.) and only 3 or 4 tranches now as opposed to the 8-10 you had before.