MSREF VI Shows Us How To Lose $5.4B

April 13, 2010

Tweet Morgan Stanley Real Estate Fund VI has disclosed to investors that they are facing losses of nearly two-thirds of their investment. That translates to roughly $5.4B of losses on the massive $8.8B fund. The article in the WSJ runs through most of the juicy tidbits. The losses are so staggering that the entire premise […]


Sobrato Nabs McAfee for 240K SF and What It Means For The Market

April 2, 2010

Tweet Sobrato has managed to bag McAfee for ~240K square feet – and potentially more – at its Santa Clara campus. The Registry has some info on the deal as well. The deal is a great one for Sobrato, which has Yahoo! on lease until the end of July. The buildings are located at 2811 […]


Align Technology Inks 129K SF Lease

February 4, 2010

Tweet Align Technology (ALGN: 62.70 N/A) has signed a 7-year lease with Equity Office for two buildings on Orchard Parkway. The 129,000 square foot lease is for 86-months, and consists of two (2) 64,500 SF buildings located at 2560 Orchard Parkway and 2570 Orchard Parkway. The terms of the lease are: 86 Months First 2 […]


Morgan Stanley Handing Back 1.2M Square Feet of SF Assets

December 9, 2009

Tweet As we indicated last month, Morgan Stanley is handing back the keys on billions of dollars worth (former worth, that is) of Class A San Francisco property. The properties are going back to the mezzanine lender, AREA Property Partners. The question now is what is AREA going to do with the assets considering that […]


Clock Ticking For Morgan Stanley Fund V

December 3, 2009

Tweet We had covered Morgan Stanley’s troubles in the recent past, including its walking away from its massive Crescent deal, and the looming troubles it is facing on the CNL deal (think Maui Prince), and the Blackstone/Equity Office assets it acquired at the top of the market. WSJ has a piece on the CNL deal […]


Wilbur Ross, Sam Zell, Richard LeFrak on CNBC – The Billionaire’s Roundtable

December 2, 2009

Tweet CNBC featured a two-part “Billionaire’s Roundtable” featuring Wilbur Ross, Sam Zell, and Richard LeFrak. Some of the slogans: “Dilution is the Solution”, Owners in “Negative Leverage Purgatory”, “What Happens in Dubai, Stays in Dubai”. The discussion tackles commercial real estate, newspapers, emerging markets, retail, and gold. CNBC also calls Sam Zell out on the […]


Crescent Down, San Francisco EOP Assets To Go

November 20, 2009

Tweet In the news today is Morgan Stanley’s handing back of the keys on the Crescent Real Estate nightmare they acquired two years ago. The nightmare wasn’t that they were bad assets, the nightmare was the price paid for the portfolio and the subsequent fall in the market. We were out in front of the […]


Sam Zell Optimistic on Economy

November 12, 2009

Tweet Sam Zell, of Equity Office fame, has come out indicating that the commercial real estate calamity is overblown. He is basing his premise on two things, one the workouts and other programs in place that are keeping a lot of deals from being sold, though one could argue on life support. The other is […]


Morgan Stanley to Take Hit on Crescent

October 14, 2009

Tweet Morgan Stanley was one of the most aggressive investors during this last boom cycle. Their activities included the acquisition of the EOP San Francisco portfolio for some $2.5B, and the August 2007 purchase of Crescent Real Estate Equities for $6.5B (if you include the debt), and other smaller deals such as providing the debt […]


Applied Puts Up For Sale 30-Acre Santa Clara Site

September 14, 2009

Tweet Applied Materials (AMAT: 17.36 N/A) has quietly put up for sale a 30-acre site in Santa Clara. The property is being offered unpriced. It’s an odd time to put the property up for sale considering the fact that they’ve carried it for a long time, including the last boom cycle where the land would […]

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