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CRE Videos … Sternlicht and More
January 28, 2010
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 on the commercial [...]
CEO of Jones Lang LaSalle on CNBC
January 28, 2010
Colin Dyer, CEO of Jones Lang LaSalle was on CNBC discussing the CRE market. Unless there are additional monetary shocks, he sees a sharp V-shaped recovery when confidence returns.
Interesting. The other guy in the interview, Ken Rogoff, a professor of economics at Harvard, didn’t seem like he was buying it and called Dyer on his [...]
Prudential U.S. Quarterly Report
January 28, 2010
rudential has put out it’s latest report outlining it’s take on the commercial real estate market. Some bullet points from the report:
The recent appearance of positive indicators – economic and otherwise – has turned market sentiment in the commercial real estate sector decidedly more favorable.
Widespread distress has yet to materialize, although it should be [...]
Citigroup Unloading Real Estate Unit With Billions In Assets
January 27, 2010
In a bid to raise capital, Citigroup is in advanced talks to unload it’s global real estate group, a group with an estimated $12.5B of real estate assets. This is huge deal and given the size will probably represent a pretty good deal for suitor. Not to mentioned the portfolio is pretty well diversified geographically, [...]
Transbay Joint Powers Closes on $171M Loan
January 27, 2010
The Transbay Joint Powers Authority has closed on a $171M federal loan to help it kickstart the massive Transbay Terminal project in San Francisco. This is a good step in the right direction, though additional funding multiples the size of this loan will ultimately be needed.
The entire project will likely end up costing billions. There [...]
Layoffs Back: Verizon 13K, Sam’s Club 11K
January 27, 2010
The other day Wal-Mart announced 11-12K layoffs at its Sam’s Club unit. Yesterday we got word that Verizon is planning on laying off roughly 13,000 employees in 2010. This comes on the back of some pretty significant cuts it made in 2009.
And today Home Depot is announcing 1,000 layoffs.
…and there will be more. Retail sales [...]
A News Digest For Today
January 27, 2010
Rather than give you another daily dose of bad news about Tishman or some other poor sap who blindly overpaid for an asset with OPM, today we present you the following interesting headlines:
1) 1-Month Treasury Bills trading negative again. This is only the 2nd or 3rd time this has happened since Lehman went under. The [...]
For Shame: S&P and Moody’s Escape Lawsuit
January 26, 2010
A lawsuit alleging misconduct and responsibility against S&P and Moody’s has been dismissed by a judge in New York. The lawsuit sought to hold the ratings agency’s responsible for defrauding investors in $100B worth of mortgage backed securities.
Investors in the mortgage-backed securities claimed in their lawsuit that S&P and Moody’s misled them by disregarding ratings [...]
Bruce Mosler of C&W Optimistic
January 26, 2010
Bruce Mosler, co-chairman of Cushman & Wakefield believes that the activity at the end of 2009 will continue. There is no doubt about that; companies as we type are negotiating large deals (there are numerous 200K+ SF deals in the works) in the valley. The question is not absorption so much as it should be [...]
