ProLogis and AMB Present at Goldman Conference

ProLogis and AMB presented at the Goldman Sachs Commercial Real Estate Symposium in New York. Despite the risks that still exist, both groups are seeing more reasons to be optimistic.
One interesting point on the webcast was that even through the peak, there were not that many large industrial portfolios that were backed by CMBS, and [...]

AMB Property’s Hamid Moghadam on Bloomberg

Hamid Moghadam, CEO of AMB Property Corporation on Bloomberg. AMB’s portfolio includes som 150M plus square feet of industrial real estate worldwide.
…he thinks we’ve hit a trough and reasonably optimistic over next 6-9 months….

RREEF, RREEF, and RREEF

The Registry has three recent articles out, all of them hitting on RREEF. The first article discusses the SF Employee Pension, and the hit they’ve taken on their real estate investments – to the tune of about $650M.
The most significant unrealized net-asset value losses occurred in three portfolios managed by three well-known pension fund money [...]

AMB Lays off 22%

AMB Properties (AMB: 28.58 0.00%) announced in a 8-K filing on the 23rd that it has instituted layoffs of approximately 22% in an effort to cut costs. It has also taken large impairment losses as a result of mark-to-market accounting requirements. The full SEC filing can be viewed here.
We’ve also heard there have been significant [...]

AMB Property on Conan O’Brien

Notes From the ProLogis Earnings Call

ProLogis (PLD: 14.52 0.00%) released its earnings numbers and its FFO numbers were down significantly, prompting a selloff in its stock as well as San Francisco-based AMB’s (AMB: 28.58 0.00%). Digging into their earnings call were a few notable excerpts.
On development:
Beginning in September, we have done nothing but build to suit starts, and those are [...]