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CBRE Profit Off By 94%; Likely To Ask To Restructure Loans

February 12, 2009

Tweet CBRE (CBG: 31.65 -0.41%) released it’s earnings numbers and they are not pretty. Net income is off 94.7% (to $6.5M) on a 30 percent decline in revenues. The company also failed to issue guidance citing continued uncertainty in the marketplace. The company is under a mountain of debt (roughly $2B) following an acquisition spree […]

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More Defections at Grubb & Ellis Indicate Trouble

February 11, 2009

Tweet We wrote a post on two weeks ago about how important it was for brokerages like Grubb & Ellis (GBE: 0.00 N/A) to retain top talent in the face of the current crisis. Not two weeks removed from losing another one of their more successful brokers locally, two additional brokers from Grubb & Ellis’s […]

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Black Eye For Marcus and Millichap

February 9, 2009

Tweet Over the past several years there has been a meteoric rise in the NNN-leased investment brokerage industry. I get emails every day from brokers all across the country looking to sell NNN leased investments from San Jose to places I’ve never even heard of. Some of these assets are high quality, and in great […]

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MadisonMarquette’s Distressed Retail Real Estate Index

February 5, 2009

Tweet TrafficCourt points us to a mini-study put out by MadisonMarquette’s Places Magazine  analyzing 63 metropolitan markets for signs of distress in the retail real estate sector. They put together a nice little analysis/index on the various markets to try to guage the markets which will likely produce the most distress. San Francisco and San Jose were […]

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Allen Matkins/UCLA California Office Forecast

February 5, 2009

Tweet The Allen Matkins/UCLA Forecast, which is biannual survey and index for California commercial real estate markets is predicting more of what we already are hearing: that the downturn in the overall commercial real estate will continue for the foreseeable future with a recovery beginning sometime in the latter parts of 2010. In the Bay […]

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MIT Commercial Property Index Records Largest Quarterly Drop In Its History

February 4, 2009

Tweet The MIT Commercial Real Estate Transaction Based Index tracks prices back to 1984. In the 4th quarter of 2008, the index fell by the largest it has ever fell in a single quarter, 10.6%. For the year, the index was down 15%. According to the press release, The previous record was a 9 percent […]

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BRE Properties Drops San Jose Apartment Site and More

February 4, 2009

Tweet BRE Properties, an apartment REIT released their earnings today, and on their earnings call there were a few good tidbits. Picked up from CalculatedRisk were these items: With jobs, we expect the first quarter to rival the fourth quarter with respect to job losses. We then expect to see a deceleration in the layoff momentum […]

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Electronic Arts Cuts 1100; Panasonic 15,000

February 4, 2009

Tweet Redwood Shores-based Electronic Arts (ERTS: 0.00 N/A) has announced it is cutting 1,100 jobs and closing 12 facilities. This is in addition to previous 600 job cuts it had announced in October.  Panasonic (PC: 0.00 N/A) also announced job cuts of 15,000 worldwide, and closures of 27 plants worldwide. It’s unclear how many of […]

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NCREIF 4th Quarter 2008 Snapshot

February 3, 2009

Tweet NCREIF (National Council of Real Estate Investment Fiduciaries) has released its Q4 2008 numbers and they aren’t pretty. Total returns for 2008 were negative across every sector and every region, and look to be the worst since the index tracks back. A summary of their Q4 numbers can be downloaded here.

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Two East Bay Hotels Default on Mortgages

January 31, 2009

Tweet In what is likely part of the first wave of hotel mortgage defaults, two East Bay hotels have defaulted on their mortgages. The ownership of the 170-key Sheraton Pleasanton Hotel (AG Inn at the Mall LLC) has defaulted on a $12.2M note. In addition, U-Safe Investments has defaulted on two notes for a total […]

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