Wednesday, January 9, 2013

BULLET DODGED? CRE Groups Relieved and Concerned Over Fiscal Cliff Compromise

National Commercial Real Estate News From CoStar Group

BULLET DODGED? CRE Groups Relieved and Concerned Over Fiscal Cliff Compromise

With the fiscal cliff averted, at least until the U.S. Treasury runs out of money next month, commercial real estate advocacy groups are giving Congress bouquets for provisions of the American Taxpayer Relief Act that extend tax benefits for building owners and investors. At the same time, they're concerned about the other shoe dropping after lawmakers once again failed to address spending and continue to face what's certain to be another contentious...

Construction Outlook Looking Better, But Don’t Call It A Rebound Yet

Momentum for an increase in construction has been building for months, and the fiscal cliff agreement by Congress should unleash more private construction investment in 2013, analysts said.

Leading indicators such as the Architecture Billings Index (ABI) indicate the brightest conditions in years are ahead for new construction. Work at architecture firms across the country continues to increase in November, according to a monthly survey.


Warren Buffet, JLL Buy Apt. Brokerage Firms

Given investors' exceptionally strong interest in apartments, it was only a matter of time before that interest extended to brokerage firms that specialize in bringing buyers and sellers of apartment properties together, and perhaps providing them with financing at the same time.

In a deal that closed on the last day of 2012, Berkadia Commercial Mortgage, a commercial real estate lender that was formerly part of Capmark Financial and is now partly...

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...

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