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Commercial Real Estate Investing

Tax Implications of Loan Forgiveness

November 25, 2009

Tweet There is an article in the latest issue of the NAR’s Commnews Roundup discussing the downside of loan forgiveness as far as taxes are concerned. We weren’t able to locate the article online, so we’ll give you a synopsis: Provisions of the economic stimulus legislation permit CRE owners to postpone tax liability on forgiven […]

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RREEF Q3 2009 Property Performance Monitor

November 25, 2009

Tweet RREEF has put out its third quarter property performance monitor. Short report reiterating much of what we already know….

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Property Tax Appeals: The Impact on Government, Landlord, and Tenants

November 22, 2009

Tweet Over 1,000 San Francisco property owners have filed petitions with the City of San Francisco to have their property taxes reduced. The same is for virtually every other city as property prices have fell dramatically. Jose Guevara is property manager for Crocker Galleria, which has requested a 62 percent reduction in its assessed value, […]

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Heading North – CA Unemployment Up To 12.5%; Santa Clara County 11.9%

November 20, 2009

Tweet The EDD released unemployment figures today, and the rate was up to 12.5% in October, a 20 basis point increase from September’s 12.3%. Last year, it was 8% in October signalling a 50% year-over-year increase! In raw numbers, year-over-year, we’ve shed nearly a million jobs in California alone total, nearly 700K if you look […]

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Crescent Down, San Francisco EOP Assets To Go

November 20, 2009

Tweet In the news today is Morgan Stanley’s handing back of the keys on the Crescent Real Estate nightmare they acquired two years ago. The nightmare wasn’t that they were bad assets, the nightmare was the price paid for the portfolio and the subsequent fall in the market. We were out in front of the […]

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Round Trip For 17M SF of Property as Morgan Stanley Hands Back The Keys

November 20, 2009

Tweet Morgan Stanley has officially handed the keys back on the Crescent portfolio we posted on last month. Including debt, Morgan picked up Crescent Real Estate Equities for $6.5B. The portfolio consists of some 17M SF of commercial and hospitality product. After providing Morgan with a 3-month extension back in August, the calling for the […]

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HNN Compiling List of Funds Targeting Hotels

November 19, 2009

Tweet HNN has begun to compile a list of funds seeking to invest in hospitality assets. The list compiled so far indicates that there is about $38B out there chasing hotels, though some $20B of that comes out of of Blackstone and Lone Star. Click the link before to go to the list. Given that […]

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Sam Zell Tells Wilbur Ross To Piss Off

November 19, 2009

Tweet Speaking at the Capital Markets conference in New York, Sam Zell took a few shots at “experts” such as Wilbur Ross who were predicting widespread problems in the commercial real estate arena. Apparently taking issue with recent comments Mr. Ross made to the press about a huge crash hitting commercial property markets, Zell said […]

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Oversubscribed DDR CMBS Deal Prompts Bank of America To Prepare $460M Fortress Deal

November 19, 2009

Tweet The commercial mortgage backed securities issued earlier this week on the back of DDR retail assets has caught the attention of others who were closely monitoring that issue. Some reports indicated that the DDR deal was up to 10x oversubscribed. So, not only is a follow on issue for DDR said to be in […]

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Commercial Real Estate Will Collapse!

November 19, 2009

Tweet How’s that for a title? That’s the title of a Forbes article out today by Stuart Saft, a partner at law firm Dewey & LeBoeuf who makes the argument that court decisions could be the nail in the coffin. We’ve discussed some of the decisions here, including the Citigroup deal in New York. In […]

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