Commercial Real Estate Investing
Tim Geithner on CNBC – Deficits Down in 2011
December 3, 2009
Tweet Treasury Secretary Tim Geithner was on CNBC. He talks about pockets of strength in the economy, including technology and exports. If those are the only two, we’re in trouble because those two are driven by a weak dollar and rebuilding of inventory channels. The basic strategy involves “going back to living within our means”. [...]
Read More >>Banks Not Even Half Way Through CRE Writedowns
December 3, 2009
Tweet Moody’s is estimating that banks still have about $336B in write-downs to take next year, with $186B of that stemming from commercial real estate. While residential real estate is widely assumed to have peaked, and is spread across a large number of banks, commercial real estate losses remain on the back burner and are concentrated amongst [...]
Read More >>Clock Ticking For Morgan Stanley Fund V
December 3, 2009
Tweet We had covered Morgan Stanley’s troubles in the recent past, including its walking away from its massive Crescent deal, and the looming troubles it is facing on the CNL deal (think Maui Prince), and the Blackstone/Equity Office assets it acquired at the top of the market. WSJ has a piece on the CNL deal [...]
Read More >>Wilbur Ross, Sam Zell, Richard LeFrak on CNBC – The Billionaire’s Roundtable
December 2, 2009
Tweet CNBC featured a two-part “Billionaire’s Roundtable” featuring Wilbur Ross, Sam Zell, and Richard LeFrak. Some of the slogans: “Dilution is the Solution”, Owners in “Negative Leverage Purgatory”, “What Happens in Dubai, Stays in Dubai”. The discussion tackles commercial real estate, newspapers, emerging markets, retail, and gold. CNBC also calls Sam Zell out on the [...]
Read More >>Top 10 Most Expensive Office Markets
December 1, 2009
Tweet CBRE has put out a report on global office rents. Not surprisingly, rents are falling in almost every major market, with significant cuts in some of the markets that had skyrocketed the most (e.g. Russia). The top 10 most expensive office markets are below. Rents are in USD/SF/Year. London (West End) – $185 psf [...]
Read More >>CalPERS Considers Showing Blackrock The Door
November 26, 2009
Tweet The WSJ is reporting that CalPERS is considering dropping Blackrock as an investment advisor to the pension fund after a disastrous year. Amongst the investments Blackrock steered CalPERS into was the Stuyvesant Town/Peter Cooper Village deal in NY. That deal has very likely cost CalPERS all of its investment of $500M. But of course, [...]
Read More >>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 [...]
Read More >>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….
Read More >>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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