Commercial Finance and Lending
Moffett Towers Lands Rambus For 125K SF
December 18, 2009
Tweet It took a few years, but Moffett Towers has landed a tenant (ht Phil). Rambus (RMBS: 7.76 -0.51%) has become the guinea pig. It signed a lease for 125,000 square feet on December 15th. The 10-year term begins around July 2010 once its tenant improvements are completed. The space will be delivered turnkey. They [...]
Read More >>Life Insurers 2010 Losses Estimated at $10B
December 18, 2009
Tweet Moody’s is estimating that life insurers will take a hit of about $10B on commercial real estate investments in 2010. The loss estimate is revised upwards from $7B, but the insurers will fare much better than banks. Insurers are also beginning to again increase their interest in commercial real estate as bond yields have [...]
Read More >>Commercial Real Estate Videos
December 16, 2009
Tweet Couple videos from CNBC…. #1 Mort Zuckerman on Commercial Real Estate. Zuckerman is chairman of Boston Properties (BXP: 112.62 -0.33%). and #2 Spotlight on Commercial REITs featuring Harvey Green, CEO of Marcus & Millichap. This video doesn’t say anything new, but the last point about small vs large real estate is interesting, because if [...]
Read More >>Gulf States Takes Steps Toward Unified Currency
December 16, 2009
Tweet Several Gulf States are taking the steps necessary to create a pan-arab currency. The core group of countries consists of Saudi Arabia, Kuwait, Bahrain, and Qatar. The Gulf currency – dubbed “Gulfo” – is likely to track a global exchange basket and may ultimately float as a regional reserve currency in its own right. [...]
Read More >>State of California Offloading Buildings To Fill Budget Shortfalls – What A Disaster
December 11, 2009
Tweet As economic pressures mount, the The State of California has retained CB Richard Ellis to sell off 17 of our buildings. The portfolio represents around 8 million square feet. The buildings include the Elihu M Harris building in Oakland, the Earl Warren building in San Francisco, and the PUC building in San Francisco. I’m [...]
Read More >>CMBS Delinquency Rate Continues To Rise; Inland Western Issues $500M CMBS Deal
December 10, 2009
Tweet CMBS loans delinquent beyond 30-days now stands at about 4.47% according to Moody’s. The low was reached in late 2007, at .22%. The number is up 46 basis points month-over-month. Hit the hardest is the hospitality sector, where the delinquency rate is at 7.8%. In other news, JPMorgan sold off $500M of CMBS for [...]
Read More >>Lembi Fallout Hitting Tamalpais Bank Hard
December 10, 2009
Tweet San Francisco magazine is out with a detailed update on the Lembi apartment fiasco in SF, replete with attachments and all. Tamalpais Bank made most of the Lembi loans between December 2007 and April 2008. In spring 2008, the bank’s parent company announced record earnings and assets, propelled in part by expansion of its [...]
Read More >>Morgan Stanley Handing Back 1.2M Square Feet of SF Assets
December 9, 2009
Tweet As we indicated last month, Morgan Stanley is handing back the keys on billions of dollars worth (former worth, that is) of Class A San Francisco property. The properties are going back to the mezzanine lender, AREA Property Partners. The question now is what is AREA going to do with the assets considering that [...]
Read More >>Bloomberg CRE Videos: Delinquencies and Impact on GE
December 8, 2009
Tweet Jaime Woodwell, vice president of commercial real estate research for the Mortgage Bankers Association, talks with Bloomberg’s Carol Massar and Matt Miller about the commercial real estate market. Delinquencies on commercial mortgage-backed securities rose to a record in the third quarter as unemployment rose and landlords struggled to retain tenants. Bloomberg’s Greg Miles reports [...]
Read More >>ProLogis and AMB Present at Goldman Conference
December 7, 2009
Tweet ProLogis and AMB presented at the Goldman Sachs Commercial Real Estate Symposium in New York. Despite the risks that still exist, both groups are seeing more reasons to be optimistic. One interesting point on the webcast was that even through the peak, there were not that many large industrial portfolios that were backed by [...]
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