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Real Estate Roundtable Q4 Sentiment Index: Better But Not Good

November 2, 2009

Tweet The Real Estate Roundtable published its fourth quarter Sentiment Index. The press release is still pretty grim: With high unemployment pushing up vacancies, no credit capacity and property values plummeting, commercial real estate markets remain extremely stressed with little prospect for significant near-term improvement, according to The Real Estate Roundtable’s latest quarterly survey of […]

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FDIC Adopts Policy Statement on CRE Loans to Help Banks

November 2, 2009

Tweet The FDIC has adopted a new policy which essentially gives a pass to banks with CRE portfolios that have diminished in value, but that are performing. The Federal Deposit Insurance Corporation (FDIC), in coordination with the other member Agencies of the Federal Financial Institutions Examination Council (FFIEC), adopted a policy statement today supporting prudent […]

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Nearly 20% of Construction Debt is Delinquent

October 26, 2009

Tweet There are a number of data providers who put out estimates for commercial delinquencies, so the numbers are not entirely consistent in news reports. Nevertheless, according to a Globe St. article and a local provider of data, 4.7% of commercial loans are past the 60-day delinquent mark, and increasing. The total delinquency rate for […]

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Next Wave of Stress Tests To Focus on CRE

October 26, 2009

Tweet Many of the nation’s community and regional banks turned to commercial real estate lending during the last run up to boost profits through higher yields. Now, many of these same banks are saddled with commercial real estate debt on their books, and some banks such as Sterling Financial have 50% of their loan exposure […]

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CRE Dominoes: Capmark Hitting The Fan

October 24, 2009

Tweet Well the reports are that Capmark is finally ready to file BK. This was something that has been on the radar for quite some time, but seems things are nearing the end with reports that a filing could come as soon as this weekend. Capmark is/was a large commercial lender, though what this deal […]

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Friday Tidbits: Goldman, AIG, Private Equity

October 9, 2009

Tweet AIG Headquarters Going Residential The buyer of AIG’s headquarters building, Young Woo, has plans to flip out the top portion of the building as condos. The building was bought for around $100 psf in June. Various estimates peg the price the condos could fetch at $1,000 – 2,000 psf. [via WSJ] Goldman Working on […]

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Downturn Hits GE’s CRE Unit

September 26, 2009

Tweet Newsweek has a quick article on GE’s commercial real estate unit. GE has historically been one of the most conservative players in commercial real estate. In fact, the article hits on this when it points out that 95% of GE’s mortgages are in the first position. Still, the massive fall in prices and deal […]

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Prudential on Life After Debt and The Funding Gap

September 25, 2009

Tweet At the NAIOP Capital Markets event last week, one of the overriding themes was the shortfall in debt markets that would occur in the absence of a meaningful recovery of the CMBS market. The CMBS markets will eventually return, but it will be a much-tamed reincarnation of itself – and even then there will be a […]

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Treasury Reworking Tax Rules to Help Dampen Commercial Real Estate Fallout

September 16, 2009

Tweet The Treasury today introduced new tax rules to help services, borrowers, and lenders to modify loans without having to worry about triggering tax penalties. Until now, tax rules have made it difficult for borrowers who are current on their payments to hold restructuring talks with the servicers of these bonds. Developers and investors complain […]

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Tishman Speyer Office Fund Values Off 33.5% YoY; Renegotiates Debt

August 25, 2009

Tweet Tishman Speyer has reached an agreement with at least 51% of the debt backing an 18-office building portfolio to revise the loan terms to keep it from breaching covenants contained within the loans. Still, the revised terms leave little breathing room in a market where values are falling on a monthly basis. Layer on […]

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