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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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Boston Properties, Goldman Sachs Acquire GM Building; Macklowe Son To Take Over

May 28, 2008

Tweet Over the weekend, the fate of the GM Building at 767 Fifth Avenue became known. Boston Properties and Goldman Sachs led an investment group that acquired the trophy asset along with other buildings from Macklowe Properties for $4B, $2.5B of which was assumption of debt. It’s rumored that middle eastern investors and sovereign investment funds […]

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Sale of Macklowe’s GM Building Looking Likely

May 20, 2008

Tweet After many months of speculation and the fact that Macklowe went into default on the short term loans he took to acquire a seven building portfolio from Blackstone (some details here), Macklowe seems to have lined up some buyers for his landmark GM building (which is also home of the Apple “Glass Cube” Store), along […]

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Commercial Market Downturn Talk Gaining Traction

December 28, 2007

Tweet For months now we have been hearing of the downturn in the residential market and the subprime woes that have put a stranglehold on credit. The media has been all to focused on the residential market because that is what most people on the streets are concerned with. We are starting to see the mass […]

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Details of Macklowe’s EOP NYC Portfolio Acquisition Shed Light on Underwriting Standards

September 25, 2007

Tweet There have been a lot of articles over the course of the past month and a half outlining the tightening standards lenders are enforcing for both commercial and residential property transactions. Many of us in the business were aware of acquisitions taking place involving loan-to-value and debt-service coverage ratios which deviated from what credit […]

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