Wednesday, February 13, 2013

Boom In Student Housing Construction Stokes Concerns of Oversupply

National Commercial Real Estate News From CoStar Group

Boom In Student Housing Construction Stokes Concerns of Oversupply

A surge in new student housing projects announced in recent months, combined with lower-than-expected college enrollments, slowed preleasing and rising university tuition has raised a red flag over the compelling demographic case made for years by developers pursuing new student housing projects.

In two of the largest projects, Brandywine Realty Trust (NYSE: BDN), Campus Crest Communities, Inc. (NYSE: CCG), and Harrison Street Real Estate Capital...

Looming Sequestration Cuts: Back To Recession or Business as Usual?

Having slogged through waves of economic uncertainty in the past year that have undercut investor forecasts and shaken consumer confidence, businesses are now confronting what they hope will be the last wave: the looming impact from sequestration or unprecedented cuts in federal spending.

The $1.2 trillion in mandated federal budget reductions over the next decade are set to start kicking in March 1 unless averted by an increasingly unlikely bipartisan...

Macerich Puts More Than $1 Billion of Assets on the Market

With private equity and institutional investors pumping an increasing amount of capital into commercial real estate, REITs are finding the current environment provides a compelling option to raise equity by selling off properties rather than raise debt levels through new offerings in the public markets.

That is one of the primary drivers behind The Macerich Co.’s decision to put more than $1 billion of its malls on the market.

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More Institutional Capital Chasing CRE as Safe Haven

An increasing number of institutional lenders are looking to park significant levels of capital into commercial real estate this year as a “safe haven.”

According to Jones Lang LaSalle’s Capital Markets experts, real estate debt financing remains an attractive risk-return option for many lenders in spite of economic volatility.

“We saw the commercial mortgage-backed securities (CMBS) market make a formidable return to $48 billion in issuance...

Norway Off and Running To Invest in U.S. CRE Market

The Norwegian Government Pension Fund Global has made its first investment in the U.S. property market. The giant, $665 billion pension fund bought a 49.9% ownership interest in five office properties in the U.S. from through a joint venture with New York-based financial services provider TIAA-CREF.

This past December, Norway's government approved a change in the law permitting its national pension fund to invest in property outside Europe for...

Watch List: CMBS Loans of Concern with Defense Contractor Exposure

Defense contractors are among the three largest tenants in these properties on which the loans have gone into foreclosure, been transferred to special servicing or have drawn a watch list comment from the loan servicers.

For analysis, please see our story on how pending federal spending cuts are impacting contractors and landlords with significant exposure to defense tenants: Looming Sequestration Cuts: Back To Recession or Business as Usual?...

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