National Commercial Real Estate News From CoStar Group
12 CRE Predictions for 2013
The last few weeks of 2012 revealed a lot about what 2013 could hold in store for the commercial real estate sector, and it appears to be shaping up to look a lot different (i.e., better) than the last couple of years.
Deal flow increased notably after the presidential election as the uncertainty ended over what policies would shape the U.S. economy for the next four years and as the housing market recovery seemed to take hold.
Also, the fiscal...
Watch List: Ending 2012 on a Down Note
Servicers for the CMBS deal Credit Suisse 2007-C1 completed appraisal reductions in December on 16 individual properties that make up the loan pool. Not surprisingly, appraised building values for properties included in the period of "irrational exuberance" saw some major haircuts when adjusted to current market values.
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The KPMG Building in Dallas suffered the largest single property appraisal reduction...
RFR Acquires Y&R Headquarters At 285 Madison
RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.
Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...