Monday, October 21, 2013

Capital Markets: As CRE Prices Improve, So Do Sizeable REO Dispositions

National Commercial Real Estate News From CoStar Group

Capital Markets: As CRE Prices Improve, So Do Sizeable REO Dispositions

The U.S. CMBS delinquency rate continued its steady decline last month as banks continue to take advantage of higher prices for commercial property and unload large REO dispositions, according to the latest index results from Fitch Ratings.
CMBS delinquencies should continue to move lower as commercial property assets become REO, are repriced and disposed of, Fitch noted. In fact, the percentage of REO assets in Fitch Ratings’ delinquency index...

Could Advance Auto Parts, CarQuest Merger Create Retail Real Estate Spare Parts?

Advance Auto Parts Inc., one of the biggest retailers of automotive aftermarket parts, agreed to acquire one of its major competitors, General Parts International Inc., which operates the CarQuest and WorldPac brands, for $2.04 billion in an all-cash transaction.
The transaction creates the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.2 billion for the Roanoke, VA-based firm.
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Didn’t That Used to Be an Office Building?

By: Jeff Myers
Office demolitions and conversions are playing an interesting role in this cycle’s office recovery. They decrease competition for tenants, especially between Class B and C landlords, and as empty space is removed from the market, vacancies decline.
The effect of space removals has been unusually visible in recent years due to the dearth of new office buildings. In 2012, the office stock shrunk in a third of the 54 top U.S. markets...

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