Prudential Takes Back Torre Plaza
February 16, 2010
Tweet It was imminent, but Prudential has taken back Torre Plaza from RREEF/Snell in a non-judicial foreclosure action. The building was taken back on a credit bid of about $17.6M or $187 psf, which it is not worth. We first wrote up a post about the default back in October. This ended up being a [...]
Read More >>RREEF Marks Up 2009 Commercial Real Estate Outlook
January 12, 2010
Tweet For the past few years, RREEF has revisited its commercial real estate outlook at the end of the year by marking up the document. It’s nice to see this type of self-deprecating research. Like last year, RREEF was a bit too bullish and underestimated how much values and employment would fall. The report can [...]
Read More >>RREEF Q3 2009 Property Performance Monitor
November 25, 2009
Tweet RREEF has put out its third quarter property performance monitor. Short report reiterating much of what we already know….
Read More >>Citibank Forced to Resume Lending on Failed Mall Project
November 18, 2009
Tweet If a court in New York can come to this conclusion, can a court in California come to the same? That would probably be something Peter Pau and RREEF, developers behind the Sunnyvale Town Center that is headed to foreclosure want to know. Regardless, this is a huge decision by the NY court because [...]
Read More >>Who Do Foreigners Give Their Money To When Investing In US Real Estate? Here’s The Top 10
October 21, 2009
Tweet We’ve heard about and are beginning to see an increase in foreign money coming into the US real estate market, particularly on the residential and multi-family side as the prospect of a recovery happening is expected to occur in this sector first. So want to know who these foreign individuals, pension funds, investment firms, [...]
Read More >>RREEF Outsources Retail Property Management
October 21, 2009
Tweet Completing its program of getting out of the property management business, RREEF Real Estate has outsourced about 11 million square feet of retail at 58 centers across the US, the company announced Wednesday. Jones Lang LaSalle, United Commercial Realty, Mid-America Asset Management Inc., Crosland and KeyPoint Partners will take over direct property management of [...]
Read More >>RREEF, RREEF, and RREEF
October 19, 2009
Tweet The Registry has three recent articles out, all of them hitting on RREEF. The first article discusses the SF Employee Pension, and the hit they’ve taken on their real estate investments – to the tune of about $650M. The most significant unrealized net-asset value losses occurred in three portfolios managed by three well-known pension [...]
Read More >>RREEF and Snell Default on Torre Plaza in Cupertino
October 1, 2009
Tweet RREEF and Snell+Co. have defaulted on Torre Plaza in Cupertino. The 93,000 square foot asset was picked up by Snell and RREEF last August for about $29.2M. The 3-story, class B asset sits on about a 180K SF parcel. The original loan amount was for $24.5M, and RREEF is about $686K back on the [...]
Read More >>RREEF Outsources Property Management to CBRE, Transwestern
September 20, 2009
Tweet It is being reported that RREEF has made the decision to outsource property management of its portfolio. CBRE and Transwestern will be taking over the property management of the portfolio – which is estimated at $25B. Despite this being a huge assignment and big news, it is only being reported by The Registry so [...]
Read More >>RREEF America III Overview
September 9, 2009
Tweet The Registry has written up an article outlining RREEF’s troubled America III fund, which we discussed in the past. This is the vehicle behind Sunnyvale Town Center and the Peery/Arrillaga Portfolio. There was talk a few weeks ago about Stockbridge seeking to take over management of that fund. Some big names sit on the [...]
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