Wednesday, January 9, 2013

Switchover to 2013 Reshaping Foreign Investor Strategies for U.S. CRE




National Commercial Real Estate News From CoStar Group





Switchover to 2013 Reshaping Foreign Investor Strategies for U.S. CRE



As 2013 approached, offshore investors rejiggered their U.S. commercial real estate holdings with many foreign investors closing out both successful and unsuccessful ventures just as a new batch of funds were emerging to jump in on the ground floor of the U.S. economic recovery.

Several high-dollar property sales transpired in the last few weeks of 2012 and early this year, with investors from The Netherlands, Australia, South Korea and Germany...









Facility Closures & Downsizings: HP Not Done Cutting CRE Costs



After announcing two years ago that it had “largely completed” its plan to reduce its real estate costs by consolidating into several hundred core real estate locations worldwide, Hewlett Packard Co. disclosed this past week that it had cut another 3 million square feet of space worldwide last year.

In its annual report filed Dec. 27, 2012, HP reported that it owned or leased 67 million square feet of space worldwide down from 70 million a year...









Watch List: More Appraisal Reductions from Year-End 2012



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For DDR, It’ll Be Hard To Match 2012



Coming off a year when it completed more than $2 billion of portfolio acquisitions, Cleveland-based retail REIT DDR Corp., is shooting for a little more modest growth this year.

In 2013, DDR said in plans to acquire $250 million of prime shopping centers while disposing of $150 million of non-prime operating assets and $50 million of non-income producing assets. It also plans to bring at least $75 million of opportunistic development and redevelopment...









Behringer Harvard Links 2012 Milestones to 2013 Strategies



At Behringer Harvard, 2013 will look a lot like 2012 for two of its most active REITS.

"We will continue to focus - in 2013 and beyond - on expanding our investment program offerings in ways that address the evolving needs of both institutional and retail investors," said Robert S. Aisner, president and CEO of Behringer Harvard, citing the firm's joint venture with Prospect Capital Management to offer corporate debt and equity investments as one...









The Big Squeeze: How to Counter E-Commerce’s Pinch on Small Retail Shops



Retail sales at brick-and-mortar stores have been contracting continuously as shoppers do more buying online. And the reasons are obvious, according to a new investment outlook from Verwaltungs- und Privat-Bank Aktiengesellschaft (VP Bank) a Liechtenstein-domiciled investment bank.

While based in Europe, VP Bank’s analysis is particularly pertinent for U.S. retail investors.

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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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