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GE To Cut Real Estate Portfolio by More Than 10% Next Year

October 2, 2008

Tweet Costar is reporting that GE is planning a $10B haircut to its real estate holdings next year. This comes at a time when the cost of capital is increasing, its availability decreasing, and the supply of real estate assets available for sale will be spiking (think Lehman, AIG, Merrill, just to name a few). The Fed […]

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Lehman Brothers Looking To Shed $14B in Commercial Real Estate

August 15, 2008

Tweet Lehman Brothers (LEH: 0.00 N/A), in a move to raise capital and reduce its real estate exposure, is said to be in talks to liquidate about $14B in commercial real estate assets. Lehman is said to be in talks with BlackRock for the assets. Lehamn currently owns about $10B worth of real estate, and […]

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Excerpt of Boston Properties Q2 Earnings Call; Touches on San Francisco, Silicon Valley, and Investment Climate

July 24, 2008

Tweet Doug Linde, President of Boston Properties (NYSE:BXP), discussed on their second quarter earnings call the state of the various markets they are players in, amongst which are San Francisco and San Jose. He went into additional detail about the investment climate, as well as financing. Things to take away are that San Francisco demand for space […]

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Shorenstein Buys Mezzanine Debt on McCandless Towers

July 3, 2008

Tweet Shorenstein has acquired a $51.1M mezzanine loan collateralized by McCandless Towers in Santa Clara. Globe St. is reporting that the the debt was acquired at a discount. McCandless Towers was purchased by Tishman Speyer last July at a cost of $500 PSF ($213M), representing a 4.5% cap rate. McCandless Towers features two 11-story, 210,000 […]

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Swiss Bank Privacy Under Attack; Singapore Banking Likely Beneficiary

July 1, 2008

Tweet A federal judge today gave the ok for an IRS investigation to move forward against UBS, a swiss bank. The summons is fairly unprecedented as Swiss banks pride themselves on privacy. In a tax-evasion investigation, IRS is seeking information about US citizens who have not disclosed swiss bank records to the IRS. UBS is […]

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A Quick Guide to Investment Property Classifications

June 23, 2008

Tweet Over the past few decades, real estate investment has become increasingly sophisticated. Large institutional investors and developers have seen the line blurred between traditional investment banking for securities and that for real estate. Everything from the market analysis to the financing of the project has changed. Investors in commercial real estate often classify projects […]

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Credit and Equity Markets In For Massive Turmoil According to RBS

June 18, 2008

Tweet The Royal Bank of Scotland’s (RBS) chief credit strategist Bob Janjuah has issued a report to its clients to be prepared for a global credit and equity crash. Bob Janjuah forewarned against last year’s looming credit crisis. According to his report, the next three months will be nasty. The report includes warnings that the S&P could […]

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Who is the Buyer of the Sobrato-BEA-Oracle Building at 488 Almaden Blvd?

June 18, 2008

Tweet Word is a buyer has been picked by Oracle Corporation (NASDAQ:ORCL). BEA paid about about $335 psf ($130M) in 2007 for the 388,000 square foot tower. You can read more about the story of the tower in a previous post. If I had to guess, I’d say the building will trade for significantly less than what […]

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YoY US and International Investment Sales Down Dramatically in Q1

June 12, 2008

Tweet Though likely not surprising to anybody, year over year investment sales both in the United States and on a worldwide basis are down dramatically. According to a Jones Lang LaSalle (NYSE:JLL) report cited by NREI, first quarter investment sales in the US came in at $39.2 Billion, a number which is down 69% from […]

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With Office Market Softening, Some Landlords Mull Reducing Asking Rents

June 2, 2008

Tweet After seeing rents continuously rise over the past 24 to 36 months, Tenants are finally beginning to see an easing in rental rates. During the past two quarters, net absorption in the South Bay and Peninsula markets have either been flat or mildly negative. In the Silicon Valley, depending on whose numbers you use, […]

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