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Commercial Real Estate Investing

Head of Apollo Predicts Bonanza in CRE

February 10, 2010

Tweet The founder of Apollo Management, Leon Black, has predicted that there will be a bonanza in commercial real estate opportunities in a Financial Times article. “I think a lot of the traditional holders of this real estate are going to be forced to sell as things are marked down,” he said. “Commercial real estate […]

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Closing Up: Ritz Carlton Las Vegas Shutting Doors May 2nd

February 10, 2010

Tweet The Ritz Carlton Las Vegas is set to close on May 2nd as a result of lax demand. The hotel is a bit out of the way, but is certainly a very nice resort. The owner of the property is an arm of Deutsche Bank, which has decided to stop funding the resort effective […]

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The Good Old Days Are Back

February 9, 2010

Tweet A 612-unit apartment complex in Granite Bay has changed hands for $54M. The property went from hitting the market to sold in 48 days. Part of the reason why this was possible is the agency debt available for apartment purchases. The best part of the deal was the due diligence. According to John Adair, […]

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Investors Wary of Writing Blank Checks

February 9, 2010

Tweet Private money was flowing into REITs by the billions last year (about $20B). But when it comes to handing money over to “blind pools”, the money has been timid. Blind pools are essentially funds offering nothing more than a business plan. Despite having great track records, Ziman (Arden Realty) and Callahan (Trizec Properties) may […]

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Green Street Advisors: CRE Prices Up 10%

February 8, 2010

Tweet According to the Green Street Advisors Commercial Property Price Index (original name), prices are up 1% in January, and now up 10% off the bottom reached in May of 2009. The GSA’s index is based on prices for transactions which have not yet closed yet, as opposed to Moody’s which reflects closed transactions. This […]

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Surprise Surprise: More Store Closings

February 4, 2010

Tweet More store closings are expected. This doesn’t come as much of a surprise. Given the percentage of sales retailers ring up during the holiday season, it was obvious it would have been wise to get through the holiday season and then put the wheels of closure back in action. Bloomberg has a pretty cool […]

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Align Technology Inks 129K SF Lease

February 4, 2010

Tweet Align Technology (ALGN: 54.21 -2.39%) has signed a 7-year lease with Equity Office for two buildings on Orchard Parkway. The 129,000 square foot lease is for 86-months, and consists of two (2) 64,500 SF buildings located at 2560 Orchard Parkway and 2570 Orchard Parkway. The terms of the lease are: 86 Months First 2 […]

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S&P: Worst Yet To Come For Commercial Real Estate Loans

February 1, 2010

Tweet Despite all the good news that you’ve been hearing about commercial real estate, we haven’t been entirely convinced. We’ve indicated that uncertainty and continued weakness in rents and occupancy are powerful enough forces to keep the commercial real estate sector in check for some time. Now S&P is out with a research paper entitled, “Industry […]

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CRE Videos … Sternlicht and More

January 28, 2010

Tweet More videos… First up, Barry Sternlicht on Bloomberg from Davos. Not much new except that they’re hot on residential land. This is understandable as housing stabilizes in a market that has seen little new development. Second up is Greg Genovese, of Thompson National Properties, and Jordan Sadler, of Keybanc Capital Markets discussing FED impact […]

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CEO of Jones Lang LaSalle on CNBC

January 28, 2010

Tweet Colin Dyer, CEO of Jones Lang LaSalle was on CNBC discussing the CRE market. Unless there are additional monetary shocks, he sees a sharp V-shaped recovery when confidence returns. Interesting. The other guy in the interview, Ken Rogoff, a professor of economics at Harvard, didn’t seem like he was buying it and called Dyer […]

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