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Moody’s: CRE Prices Will Continue To Fall

January 26, 2010

Tweet Despite seeing a 1% uptick in November prices, Moody’s is indicating that it is very likely that commercial real estate prices will continue to fall. “We anticipate further deterioration in property fundamentals and increases in cap rates,” he suggested, acknowledging that “the worst of the value declines is likely over.” This goes to the […]

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Wilbur Ross, LeFrak Interested in Stuyvesant Town

January 25, 2010

Tweet A partnership between Wilbur Ross and Richard LeFrak have expressed interest in Stuyvesant Town, from management to outright acquisition. And they have the funds to back it up: “We are not really capital-constrained, so we can put up whatever is needed,” Ross said in a telephone interview. “We’re prepared to go all the way.” […]

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Receivers In Demand

January 25, 2010

Tweet About a week ago, we posted an article about receivership. The LA Times today has an article out about the hot receivership market and the upswing in activity as projects falter (like this one). It’s not a particularly captivating read, but if you’re interested, here is a link to the article.

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Simon “Agrees” to $2.25B Note Sale

January 25, 2010

Tweet My, how far we’ve come. In less than twelve months, we have gone from capital crisis, to reading articles about how “Simon Property Group L.P. has agreed to sell $2.25 billion of its senior unsecured notes”. Fine, fine, I’ll take your $2.25B. [via Retail Traffic]

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Fitch: Life Insurers To Face More Losses

January 22, 2010

Tweet Fitch is predicting that US Life Insurers (a la MetLife) may be looking at an additional $15B in commercial real estate related losses. The estimate is that they have taken about 25% of the losses thus far, and most of the losses will take place within the next two years. The life insurers have […]

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Bair: Bank Charge Offs Related to CRE Higher in 2010

January 22, 2010

Tweet The Chairwoman of the FDIC, Sheila Bair, indicated that the charge-offs will continue. Federal Deposit Insurance Corp. Chairman Sheila Bair said in a speech that regulators expect banks to report higher delinquencies and charge-off rates for commercial real estate properties in the first three months of 2010. Speaking to the Commercial Mortgage Securities Association, […]

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Obama Has 10 Months

January 22, 2010

Tweet Lots of talk about Obama’s plans to regulate banks, limit their prop trading, etc. Well, the people have spoken in Massachusetts of all places, and he now has 10 months to make the big changes he promised the constituents. Otherwise the midterm elections will be ugly. We might not get healthcare, but that doesn’t […]

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Silicon Valley Apartment Rents Fall 11.5%

January 21, 2010

Tweet Now at a 3-year low, Silicon Valley apartment rents have come down 11.5% from Q4 of 2008. The numbers are derived from an analysis of 426 complexes comprised of more than 78K units. Large complexes in Santa Clara County were 94.7 percent occupied last quarter, up slightly from 94.5 percent in the third quarter […]

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A Rant On Requirement Blasts

January 20, 2010

Tweet Is it just me or is every other email this week a requirement blast from a broker? If these email blasts are not an indication of the industry’s failure or slowness to evolve, I don’t know what is. On the flip side, it’s also a sign that things are starting to move. Nonetheless, there […]

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McKinsey: CRE in Spain, US, UK at Highest Risk of Deleveraging

January 20, 2010

Tweet McKinsey has put out a quick and dirty read entitled “Debt and Deleveraging: The Global Credit Bubble and Its Consequences”. In it, they detail how current leverage within the financial system compares to historic numbers and the massive run-up that occurred during the majority of this decade. The entire report can be accessed by […]

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