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Simon Property Group Going After General Growth

February 16, 2010

Tweet Simon Property Group (SPG: 186.16 +1.43%) has bid $10B for General Growth [GGWPQ.PK]. This comes as little surprise as there has been plenty of talk about Simon seeking to swallow the troubled owner of malls. The bidding likely will go higher as General Growth also seeks alternative financing from other groups as a way […]

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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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CRE Videos … Sternlicht and More

January 28, 2010

Tweet More videos… First up, Barry Sternlicht on Bloomberg from Davos. Not much new except that they’re hot on residential land. This is understandable as housing stabilizes in a market that has seen little new development. Second up is Greg Genovese, of Thompson National Properties, and Jordan Sadler, of Keybanc Capital Markets discussing FED impact […]

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Rubicon US REIT Goes BK

January 21, 2010

Tweet Not much is known about Rubicon US REIT (a subsidiary of the larger Rubicon US Trust), but according to Reuters, the REIT with assets of $100-500M has filed for bankruptcy. Despite the talk of all the capital raised by REITs, Rubicon won’t be the last. Property investment fund Rubicon US REIT is a subsidiary […]

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CMBS Delinquency Rate Continues To Rise; Inland Western Issues $500M CMBS Deal

December 10, 2009

Tweet CMBS loans delinquent beyond 30-days now stands at about 4.47% according to Moody’s. The low was reached in late 2007, at .22%. The number is up 46 basis points month-over-month. Hit the hardest is the hospitality sector, where the delinquency rate is at 7.8%. In other news, JPMorgan sold off $500M of CMBS for […]

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Pershing Square on The Outlook For Mall REITS

December 9, 2009

Tweet RetailTraffic Blog has posted a presentation by Bill Ackman’s Pershing Square Capital Management detailing the improving economic climate, and the optimism they feel with regards to well positioned mall REITs. There are certainly signs of economic activity bouncing back, but the months after this holiday season will be very telling. On a macro level, […]

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ProLogis and AMB Present at Goldman Conference

December 7, 2009

Tweet ProLogis and AMB presented at the Goldman Sachs Commercial Real Estate Symposium in New York. Despite the risks that still exist, both groups are seeing more reasons to be optimistic. One interesting point on the webcast was that even through the peak, there were not that many large industrial portfolios that were backed by […]

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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 […]

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Carl Icahn Bearish on REITs, Sees Risk of Double Dip

October 9, 2009

Tweet Carl Icahn on CNBC talking markets, debt, and REITs….

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Steven Roth of Vornado on CNBC

October 5, 2009

Tweet Bill Rudin of Rudin Management and Steven Roth of Vornado were on CNBC earlier today. Full clip below, but quick sound bite summary: recovery will be longer than anybody anticipates – bottoming process could take 2 years or possibly more flight to quality, tenants want longer term deals this down-cycle following the down-cycle trends which followed 1988 […]

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