National Commercial Real Estate News From CoStar Group
Burning Down the House? Or Flooding the Market?
Whether they’re buying or selling, federal government entities are keeping bond investors on pins and needles as the summer wanes. First bond investors fretted after talks heated up this summer about the Federal Reserve eventually tapering down its purchase of government bonds - a program referred to as QE3 and widely acknowledged as playing a substantial role in helping re-stimulate commercial mortgage-backed bond issuances this year.
Industrial Rent Rollover: Threats & Opportunities
By: Shaw Lupton
PPR54 industrial rents are enjoying a period of above-trend growth (3.3% year-over-year, compared to a long-term average of about 1.5% since 1994). While that goes a long way toward regaining lost ground, asking rents remain roughly 5% below their long-term trend, suggesting that more above-trend growth is in store before speculative construction ruins the party.
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Facility Closures & Downsizings (Sept. 3)
Vical Inc. in San Diego announced a restructuring that includes a staff reduction of 47 employees, approximately 39% of the company’s total workforce. In addition, the company is focusing its resources on its infectious disease vaccine programs and terminating activities related to Allovectin, the company’s investigational cancer immunotherapy which recently failed to meet its Phase 3 efficacy endpoints.
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Capital Markets Report: WNC Set To Acquire 24 Low-Income Properties in 18 States
WNC, a national investor in real estate and community development initiatives, closed a $150.5 million institutional low-income housing tax credit (LIHTC) fund. The fund, named WNC Institutional Tax Credit Fund 38 LP, will acquire 24 properties nationally ina mix of family and senior properties, including 15 new construction projects and nine slated for rehabilitation.
The properties expected to comprise Fund 38 will deliver more than 2,100 units...