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S&P: Worst Yet To Come For Commercial Real Estate Loans

February 1, 2010

Tweet Despite all the good news that you’ve been hearing about commercial real estate, we haven’t been entirely convinced. We’ve indicated that uncertainty and continued weakness in rents and occupancy are powerful enough forces to keep the commercial real estate sector in check for some time. Now S&P is out with a research paper entitled, “Industry […]

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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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Apartment Vacancy At 30-Year High; San Jose Leads Rent Declines

January 7, 2010

Tweet REIS put out data yesterday which pegs the vacancy rate for US apartments at a 30-year high. The vacancy rates now stand at roughly 8% according to REIS data. Rents fell 3% last year, according to Reis, led by declines in San Jose, Calif., Seattle, San Francisco and other cities that had brisk growth […]

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A “Bloodbath” In Silicon Valley

January 5, 2010

Tweet Bloomberg is out with a hit piece on Silicon Valley’s office space market. More than 43 million square feet (4 million square meters) — the equivalent of 15 Empire State Buildings — stood vacant at the end of the third quarter, the most in almost five years, according to CB Richard Ellis Group Inc. […]

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Top 10 Most Expensive Office Markets

December 1, 2009

Tweet CBRE has put out a report on global office rents. Not surprisingly, rents are falling in almost every major market, with significant cuts in some of the markets that had skyrocketed the most (e.g. Russia). The top 10 most expensive office markets are below. Rents are in USD/SF/Year. London (West End) – $185 psf […]

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CPS 3rd Quarter Update and Thoughts on Leasing Activity

November 13, 2009

Tweet CPS emailed us their 3rd quarter Silicon Valley update. It’s a pretty good report that is a bit different than the typical quarterly report which just puts up vacancy and rental rates for each sub-market in that it stratifies the supply in the market, and also goes a bit beyond just a table of […]

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Manhattan Rents Decline 6-9% Year-Over-Year

November 11, 2009

Tweet Weakness in the job market continued to put pressure on apartment rents in Manhattan, driving them down 6 (3 bedroom)-9% (studio) year-over-year. Manhattan apartment rents fell as much as 9 percent in October from a year earlier as unemployment cut demand and landlords lowered rates, according to Citi- Habitats Inc. Average rents dropped for […]

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Weakness In Apartments; San Jose Rent Falls Most

November 10, 2009

Tweet With unemployment at record numbers, it is no mystery that rents and vacancy rates would weaken in apartments. Especially hit hard are high priced areas such as San Jose, New York, and San Francisco, places where tenants typically leave if they remain jobless. What is also fueling the decline in vacancy rates is the home […]

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Fannie Mae To Become Landlord By Renting Back Homes

November 5, 2009

Tweet A “Deed for Lease” program has been released by Fannie Mae whereby owner’s of home unable to qualify for a workout or refinance would turn over the deed to their house in lieu of foreclosure, essentially a deed with lease agreement in lieu. Borrowers would  be able to sign leases for up to 12 months, […]

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WSJ Roundup: Blackstone, Germans, and a Tenant’s Market

October 30, 2009

Tweet Blackstone’s Hilton Deal The LBO market was torrid during 2006-2007. So was commercial real estate. Combine the two, and you have the Blackstone/Hilton deal. In the Hilton negotiations, Blackstone is considering contributing $800 million of new equity to buy back debt at a discount. It also is seeking to extend debt maturing in 2013 […]

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