Commercial Real Estate Investing
Bruce Mosler of C&W Optimistic
January 26, 2010
Tweet Bruce Mosler, co-chairman of Cushman & Wakefield believes that the activity at the end of 2009 will continue. There is no doubt about that; companies as we type are negotiating large deals (there are numerous 200K+ SF deals in the works) in the valley. The question is not absorption so much as it should [...]
Read More >>Moody’s: CRE Prices Will Continue To Fall
January 26, 2010
Tweet Despite seeing a 1% uptick in November prices, Moody’s is indicating that it is very likely that commercial real estate prices will continue to fall. “We anticipate further deterioration in property fundamentals and increases in cap rates,” he suggested, acknowledging that “the worst of the value declines is likely over.” This goes to the [...]
Read More >>Wilbur Ross, LeFrak Interested in Stuyvesant Town
January 25, 2010
Tweet A partnership between Wilbur Ross and Richard LeFrak have expressed interest in Stuyvesant Town, from management to outright acquisition. And they have the funds to back it up: “We are not really capital-constrained, so we can put up whatever is needed,” Ross said in a telephone interview. “We’re prepared to go all the way.” [...]
Read More >>Receivers In Demand
January 25, 2010
Tweet About a week ago, we posted an article about receivership. The LA Times today has an article out about the hot receivership market and the upswing in activity as projects falter (like this one). It’s not a particularly captivating read, but if you’re interested, here is a link to the article.
Read More >>Tishman Walks on Stuy Town
January 25, 2010
Tweet Tishman Speyer and company has decided to throw in the towel on Stuyvesant Town. This comes as little surprise as they were so far under water on the deal that it would be rather meaningless for lenders to keep them in the deal. Tishman originally paid $5.4B for the asset back in 2006 and [...]
Read More >>Fitch: Life Insurers To Face More Losses
January 22, 2010
Tweet Fitch is predicting that US Life Insurers (a la MetLife) may be looking at an additional $15B in commercial real estate related losses. The estimate is that they have taken about 25% of the losses thus far, and most of the losses will take place within the next two years. The life insurers have [...]
Read More >>Bair: Bank Charge Offs Related to CRE Higher in 2010
January 22, 2010
Tweet The Chairwoman of the FDIC, Sheila Bair, indicated that the charge-offs will continue. Federal Deposit Insurance Corp. Chairman Sheila Bair said in a speech that regulators expect banks to report higher delinquencies and charge-off rates for commercial real estate properties in the first three months of 2010. Speaking to the Commercial Mortgage Securities Association, [...]
Read More >>Obama Has 10 Months
January 22, 2010
Tweet Lots of talk about Obama’s plans to regulate banks, limit their prop trading, etc. Well, the people have spoken in Massachusetts of all places, and he now has 10 months to make the big changes he promised the constituents. Otherwise the midterm elections will be ugly. We might not get healthcare, but that doesn’t [...]
Read More >>Silicon Valley Apartment Rents Fall 11.5%
January 21, 2010
Tweet Now at a 3-year low, Silicon Valley apartment rents have come down 11.5% from Q4 of 2008. The numbers are derived from an analysis of 426 complexes comprised of more than 78K units. Large complexes in Santa Clara County were 94.7 percent occupied last quarter, up slightly from 94.5 percent in the third quarter [...]
Read More >>Rubicon US REIT Goes BK
January 21, 2010
Tweet Not much is known about Rubicon US REIT (a subsidiary of the larger Rubicon US Trust), but according to Reuters, the REIT with assets of $100-500M has filed for bankruptcy. Despite the talk of all the capital raised by REITs, Rubicon won’t be the last. Property investment fund Rubicon US REIT is a subsidiary [...]
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