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AvalonBay Resuming Apartment Construction

February 18, 2010

Tweet After nearly a year of halting new construction, AvalonBay has resumed apartment construction. The company has plans to construct some $400M of new apartment product as the company and others begin to wager that jobs will return and apartment vacancy rates will plummet. AvalonBay, based in Alexandria, Virginia, is putting shovels in the ground […]

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2010 Silicon Valley Index Released

February 17, 2010

Tweet Joint Venture Silicon Valley Network has released its comprehensive Silicon Valley Index for 2010. The 76-page report covers everything Silicon Valley, from governance, to economy and society. The full report can be downloaded from here. We’ll also link to it from our link bar. [via Joint Venture]

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Premier Retail Location in Default

February 16, 2010

Tweet Remember the Premier Retail Location by Santana Row we blogged about back in October? Well not surprisingly, the asset is now in default. On the one hand, only big rents can save this thing, but on the other what is the point of marketing it at a ridiculous rent and simply spinning your wheels? Looking […]

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Congressional Oversight Panel Issues Report on CRE

February 11, 2010

Tweet The Congressional Oversight Panel, chaired by Elizabeth Warren has issued its February report, and it’s focus is on “Commercial Real Estate Losses and the Risk to Financial Stability”. It’s a long read (189 pages), but from the executive summary here are some key points: Between 2010 and 2014, about $1.4 trillion in commercial real […]

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Head of Apollo Predicts Bonanza in CRE

February 10, 2010

Tweet The founder of Apollo Management, Leon Black, has predicted that there will be a bonanza in commercial real estate opportunities in a Financial Times article. “I think a lot of the traditional holders of this real estate are going to be forced to sell as things are marked down,” he said. “Commercial real estate […]

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The Good Old Days Are Back

February 9, 2010

Tweet A 612-unit apartment complex in Granite Bay has changed hands for $54M. The property went from hitting the market to sold in 48 days. Part of the reason why this was possible is the agency debt available for apartment purchases. The best part of the deal was the due diligence. According to John Adair, […]

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Investors Wary of Writing Blank Checks

February 9, 2010

Tweet Private money was flowing into REITs by the billions last year (about $20B). But when it comes to handing money over to “blind pools”, the money has been timid. Blind pools are essentially funds offering nothing more than a business plan. Despite having great track records, Ziman (Arden Realty) and Callahan (Trizec Properties) may […]

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Green Street Advisors: CRE Prices Up 10%

February 8, 2010

Tweet According to the Green Street Advisors Commercial Property Price Index (original name), prices are up 1% in January, and now up 10% off the bottom reached in May of 2009. The GSA’s index is based on prices for transactions which have not yet closed yet, as opposed to Moody’s which reflects closed transactions. This […]

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Banks Increasing CRE Lending; Bond Spreads To Widen

February 8, 2010

Tweet Sentiment at the Mortgage Bankers Association meeting last week in Vegas showed improvement. More banks are not only willing to lend, but their threshold for risk and size is also increasing. That readiness to restart was reflected in a separate survey of 60 banks and other lenders at the Mortgage Bankers Association’s annual conference […]

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Surprise Surprise: More Store Closings

February 4, 2010

Tweet More store closings are expected. This doesn’t come as much of a surprise. Given the percentage of sales retailers ring up during the holiday season, it was obvious it would have been wise to get through the holiday season and then put the wheels of closure back in action. Bloomberg has a pretty cool […]

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