National Commercial Real Estate News From CoStar Group
Strengthening Economic Activity Seen Offsetting Investor Concerns Over Interest Rates
Analysts believe it is becoming more and more likely that commercial real estate loans coming due in the next few years will face a higher rate environment. However, the strengthening economy is expected to offfset near-term investor risk.
Two notable commercial real estate developers and investors support the assessment that property fundamentals are catching up to the valuations created by strong capital flows into the property markets.
Brookfield To Boost Industrial Property Holdings with $1.1 Billion IDI Buy
Brookfield Property Partners (NYSE:BPY) has reached an agreement to buy Atlanta-based Industrial Developments International Inc. (IDI) for $1.1 billion.
IDI owns 75 industrial distribution facilities totalling 27 million square feet located in 12 states. The deal also includes IDI's third party property management business and development sites it controls that can support 49 million square feet of future warehouse distribution projects.
$5 Billion MetLife, SunTrust Mortgage Pact Reflects Growing Confidence in Property Markets
MetLife, Inc. (NYSE: MET) and SunTrust Banks, Inc. (NYSE: STI) announced this week that SunTrust has agreed to finance up to $5 billion in CRE mortgages originated and managed by an asset management unit launched by the giant insurer last fall.
SunTrust Banks, a holding company for its largest subsidiary and flagship asset, SunTrust Bank, operates more than 1,650 branches primarily in the southern U.S. and had $171.5 billion in total assets and...