Latest Articles

LeFrak and Flexner on CNBC

March 3, 2010

Tom Flexner, head at Citi Global Property and LeFrak of the LeFrak Organization on CNBC. Lots of capital sitting on the sidelines, and LeFrak is trying to figure out how to deploy it. Flexner’s answer: reduce your return requirements.

Golden State Portfolio Hits The Market

March 2, 2010

Back in December, CBRE won the pony show to sell off a 7 million square feet portfolio of our property. It’s officially hit the market and just in time for IOU’s.

San Jose Update

March 1, 2010

The Redevelopment Agency has issued its monthly report and while activity at downtown San Jose condos seems to be improving, sales continue to be extremely slow: 360 Residences – 0/213 Units Closed Escrow (but they are getting a Subway on the ground floor!) Axis – 86/329U Closed Escrow City Heights – 95/124 Units Closed Escrow […]

Dimon: California Larger Risk Than Greece

February 28, 2010

Jamie Dimon, the chief of JP Morgan Chase has indicated that California poses a larger risk than Greece. Mr Dimon told investors at the Wall Street bank’s annual meeting that “there could be contagion” if a state the size of California, the biggest of the United States, had problems making debt repayments. Dimon isn’t the […]

Bloom Energy

February 24, 2010

In case anybody missed it on 60 minutes… Sunnyvale-based Bloom Energy… Watch CBS News Videos Online

Moodys’ Commercial Property Price Index Increases 4.1% In December

February 22, 2010

Moody’s CPPI registered another gain for December. The index rose by 4.1% in December, following a 1% increase in November, marking the second consecutive month of increases. Despite transaction volumes up dramatically over previous lows, and prices beginning to rise, Moody’s remains cautious on the future, citing in its report that “it would be na├»ve […]

Record Breaking Land Site Headed Back to Bank

February 19, 2010

Back at the top of the market in 2007, Candy & Candy acquired an 8-acre development site in Beverly Hills. The price? $500,000,000 – or some $1400 per square foot! Just three years earlier, the seller, New Pacific Realty, had acquired the site for $33.5M. It was encumbered with a long-term lease to the Robinson-May […]

Mountain View Considering Upping North Bayshore FAR

February 18, 2010

Google has devoured much of the Shoreline and North Bayshore area of Mountain View and now is seeking to work with the city of Mountain View to make the city “a model for Silicon Valley”. This entails bringing in MUX and residential uses, and increasing the FAR. My bet is public transportation (rightly so) is […]

Creditors Push For Auction of Whistler on Friday

February 18, 2010

The site of the 2010 Winter Olympics may be headed for auction on Friday. Apparently investors in the resort are back on payments on a $524M loan the used to acquire Whistler and other resorts and creditors are pushing for a sale to happen as soon as Friday. The story begins in the distant days […]

AvalonBay Resuming Apartment Construction

February 18, 2010

After nearly a year of halting new construction, AvalonBay has resumed apartment construction. The company has plans to construct some $400M of new apartment product as the company and others begin to wager that jobs will return and apartment vacancy rates will plummet. AvalonBay, based in Alexandria, Virginia, is putting shovels in the ground when […]

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