Thursday, February 28, 2013

View From the Top: Multifamily Forecast is Sunny




National





View From the Top: Multifamily Forecast is Sunny



MIAMI—The industry leaders who shared their insight during RealShare Apartments East 2013 agreed that the multifamily market’s tailwinds will help it push through any challenges that lay ahead.








Freddie Mac K-deal Securitizes 5-Year Paper




National





Freddie Mac K-deal Securitizes 5-Year Paper



MCLEAN, VA-Demand for five-year loans, though, is low so it is unlikely there will be another K-Certificate backed by five-year collateral in 2013, Mitchell Resnick, vice president of Freddie Mac Multifamily Loan Pricing and Securitization, tells GlobeSt.com's Erika Morphy.











Trepp Sees Slight Drop in At-Risk Banks



NEW YORK CITY-Analysis of the latest T-CAST results show that among states, those that are improving are doing so faster than others are declining.








AvalonBay, EQR Complete Archstone Buy




National





AvalonBay, EQR Complete Archstone Buy



NEW YORK CITY-More than 40,000 apartment units, mainly in coastal markets, are changing hands as the acquisition is finalized.








Money Matters Are Top Of Mind for Multifamily Pros




National





Money Matters Are Top Of Mind for Multifamily Pros



MIAMI—Capital—the availability of it, the amount of it and where it’s being placed in the market—was a recurring topic of conversation at the RealShare Apartments East 2013 conference











J.P. Morgan Announces Big Personnel Cuts



NEW YORK CITY-Good news for the economy spells bad news for those in mortgage banking.








Largest CMBS Loans Backing Closed OfficeMax, Office Depot Locations




National Commercial Real Estate News From CoStar Group





Largest CMBS Loans Backing Closed OfficeMax, Office Depot Locations



Information for these lead listings was provided by CoStar Group, Nomura Securities and Trepp LLC, an industry leader in providing surveillance data on loan and commercial real estate performance underlying the CMBS market.

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Wednesday, February 27, 2013

Are Private Buyers Ready to Jump Back Into the Seniors Housing Market?




National Commercial Real Estate News From CoStar Group





Are Private Buyers Ready to Jump Back Into the Seniors Housing Market?



Global investment firm TPG’s agreement this week to acquire a 210-property portfolio of senior living residences for $278 million may be a sign that private-equity players are sifting through potential investment options in the assisted living sector after spending the past couple of years on the market sidelines in the shadow of REITs.

Since 2010, real estate investment trusts have dominated senior housing and care investment through such transactions...






While Most CRE Benefits from Recovery, One Set of Distressed Office Loans Remains 20,000 Leagues Under the Sea




National Commercial Real Estate News From CoStar Group





While Most CRE Benefits from Recovery, One Set of Distressed Office Loans Remains 20,000 Leagues Under the Sea



While property values and rents for most commercial real estate assets have been buoyed by the gentle tide of the slowly recovering economy, one group of properties -- those owned by office building borrowers who financed at the peak of market in 2007 -- remain deep underwater.

Investors had hoped that this vintage of loans would resurface post-recession to benefit from higher property values just as loan maturity and balloon repayment dates approached...









OfficeMax-Office Depot Merger: The Evolution of a Brick & Mortar Business



The proposed merger of Office Max and Office Depot with combined revenue of $18 billion is being hailed as a merger of equals, but in many ways it is also could be viewed as a move to save two brands that are facing unprecedented competition.

The all-stock deal is the latest example of retail M&A necessitated by the emerging impact of ecommerce.

From a commercial real estate perspective, the merger will likely result in a quickened pace in M...






Roth: Fascitelli's Decision Was His Own




National





Roth: Fascitelli's Decision Was His Own



NEW YORK CITY-In a regularly scheduled conference call, the soon-to-be-former CEO at Vornado counted himself “quite pleased” with 2012’s full-year results “despite a difficult leasing environment.”











More Multifamily Development Would be Nice



Berkeley Point's Jim McDevitt says that many markets can not only support multifamily development, but contests that it would be hard to keep up with demand.








Clarion Partners Pays $98.5M for Portrait Bldg. in DC




National Commercial Real Estate News From CoStar Group





Clarion Partners Pays $98.5M for Portrait Bldg. in DC



Clarion Partners, a New York-based property investment firm, acquired the eight-story Portrait Building in Washington, DC, from Wereldhave for $98.5 million, or about $733 per square foot.

The Class A office building delivered in 2003 at 701 Eighth St. NW in the East End office submarket. It is one-half block from the Metro and the Verizon Center. The Portrait Building totals 134,448 square feet and is near full capacity at 90 percent occupied...









Fascitelli Leaving Vornado, Resignation Effective April 15



After 16 years as Steven Roth's right-hand man at Vornado Realty Trust (NYSE: VNO), Michael Fascitelli has called it a career at the high-profile REIT and will step down as president and CEO.

Fascitelli's resignation is effective April 15, 2013, although he will remain a member of Vornado’s board. According to Vornado, Fascitelli will take an extended break from the business before deciding on his future plans.

The REIT has re-appointed Roth...






Fascitelli Steps Down as Vornado CEO




National





Fascitelli Steps Down as Vornado CEO



NEW YORK CITY-The resignation means a return to the CEO’s chair for chairman Steven Roth; he held the position for 20 years.











Dignity. Self-Respect. Humor: Keys to CRE Success



NEW YORK CITY-Eastern Consolidated’s senior director, Adelaide Polsinelli, presents her insight into sparkling neighborhoods here, and how one can be successful as a woman in the commercial real estate industry.











Home Sweet Home: Housing Market Soars



NEW YORK CITY-Data from three separate entities show a bounceback in housing growth.











Stockholders Okay Merger of ARC Properties, ARCT III



NEW YORK CITY-The union will "change dramatically our size, our scale and, most importantly, our growth potential,” ARCP CEO Nicholas Scorsch said when the plan was announced in December.








Tuesday, February 26, 2013

DivcoWest, Brickman Pay $115M for Manhattan Office Portfolio




National Commercial Real Estate News From CoStar Group





DivcoWest, Brickman Pay $115M for Manhattan Office Portfolio



A joint venture of Brickman Associates and DivcoWest has acquired a three-building office portfolio located on two lots at 24 - 28 and 40 - 46 W. 25th St. in New York City from the Albert Einstein College of Medicine at Yeshiva University for $115 million, or $460 per square foot.

The properties were built in 1911 and 1913, between Broadway and Sixth, in the heart of Chelsea's Midtown South submarket. The three 12-story structures total approximately...






D'Amico: CCIM Expands Its Horizons




National





D'Amico: CCIM Expands Its Horizons



NEW YORK CITY-The organization is broadening its reach not only by tapping into global markets but also by bolstering its institutional presence, CCIM’s newly elected president tells GlobeSt.com’s Paul Bubny.








Vornado Renews Macy's 646,000-SF Lease




National Commercial Real Estate News From CoStar Group





Vornado Renews Macy's 646,000-SF Lease



Vornado Realty Trust (NYSE: VNO) has extended its lease with Macy's (NYSE: M) for 646,000 square feet at Eleven Penn Plaza. The extension places the retail giant at the building through 2035.

11 Penn Plz in Manhattan's Penn Plaza / Garment District is a 23-story, 1.05 million-square-foot, class A office building originally constructed in 1923 between 31st and 32nd Streets. Also known as the Matthew Bender Building, the property features ground...






McKinley and Avanath Launch Partnership




National





McKinley and Avanath Launch Partnership



ANN ARBOR, MI- McKinley, Inc. and Avanath Capital announced yesterday that McKinley will begin managing many of the latter’s multifamily properties.











Home Renters Want to Become Owners



MEMPHIS-Single-family home renters are more likely to stay in place than apartment dwellers, reveals a first-time national survey.








Monday, February 25, 2013

In The Pipeline: CoStar Development & Construction News for Feb. 24 - March 2




National Commercial Real Estate News From CoStar Group





In The Pipeline: CoStar Development & Construction News for Feb. 24 - March 2



In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
National Instruments to Expand R&D In Austin

National Instruments...






By-the-Numbers Look at Sequestration




National





By-the-Numbers Look at Sequestration



WASHINGTON, DC-In this UPDATE to this morning's story we report how some $4 billion or 4% of federal construction spending might be axed this year alone under sequestration.








RREEF Sells Chicago Area Multifamily for $101 Million




National Commercial Real Estate News From CoStar Group





RREEF Sells Chicago Area Multifamily for $101 Million



RREEF sold The Communities of Ascot Glen, a 712-unit apartment community in Willowbrook, IL, for $101 million or $141,854 per unit. TGM Associates, a New York-based multifamily investor, was the buyer.

The garden-style complex consists of 76 buildings in DuPage County, about 22 miles west of downtown Chicago. It includes an athletic club, three heated swimming pools, tennis courts and resident center. Lincoln Property Management is the former manager...






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National





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MD Anderson Foresees Changing Ambulatory Strategy




National





MD Anderson Foresees Changing Ambulatory Strategy



HOUSTON-The famed cancer center mulls a model based more on acute care systems in neighborhoods, versus the hospital campus, leased-based model.











Office Sector: More Buyers Than Sellers



Auction.com's Paulsen sees a slight increase in office-asset transactions this year and says many of those trades could happen in secondary markets.








Sunday, February 24, 2013

Google Alert - George Smith Partners

Web1 new result for George Smith Partners
 
$3,350,000 Garden Style office in Secondary Market | George Smith ...
Transaction Description: George Smith Partners successfully replaced a hard money loan with institutional debt on an underperforming garden style office ...
gspartners.com/.../3350000-garden-style-office-in-secondary-...


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Friday, February 22, 2013

Archstone Sells San Fran Apt. Tower for $135 Million




National Commercial Real Estate News From CoStar Group





Archstone Sells San Fran Apt. Tower for $135 Million



Archstone traded Fox Plaza, a 444-unit multifamily complex in San Francisco, CA, to Essex Property Trust Inc. (NYSE: ESS), an apartment REIT, for $135 million.

Built in the 1960s, the 29-story high rise consists of office space on floors one through 12 and multifamily units on floors 14 through 19. The acquisition price included the residential portion plus a two-story property next door comprised of 37,800 square feet of office and retail space...






CoStar's People of Note (Feb. 17-23)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Feb. 17-23)



This week's People of Note includes the following markets: Atlanta, Boston, Detroit, Los Angeles, San Diego and National.

NATIONAL
CBRE Appoints Lafitte Chief Operating Officer
By Laurie Forbes

CBRE named Michael J. Lafitte chief operating officer of the firm, effective February 14, 2013. He will oversee the company’s geographically organized service businesses (Americas, EMEA and APAC), its globally organized service lines (gl






HSA PrimeCare has Designs on Measured Growth




National





HSA PrimeCare has Designs on Measured Growth



CHICAGO-The well-capitalized local buyer, owner and manager of medical office buildings is ready for larger deals, while continuing its focus on small- to mid-level opportunities.











Office-Supply Merger Could Level Playing Field for All



BOCA RATON, FL-Strong synergies between Office Depot and OfficeMax weigh strongly in favor of their proposed combination, Colliers International’s Mark Keschl tells GlobeSt.com’s Paul Bubny.











STAG Sees Big Gains in NOI, FFO



BOSTON-The fourth quarter saw the company make strides with its “differentiated investment thesis,” CEO Butcher said Thursday.








Thursday, February 21, 2013

CBRE Appoints Lafitte Chief Operating Officer




National Commercial Real Estate News From CoStar Group





CBRE Appoints Lafitte Chief Operating Officer



CBRE named Michael J. Lafitte chief operating officer of the firm, effective February 14, 2013. He will oversee the company’s geographically organized service businesses (Americas, EMEA and APAC), its globally organized service lines (global transaction services, global corporate services, asset services and valuation) and operational services.

Lafitte was named global president, CBRE Services last July. He also served as president of the Americas...






GlobeSt Readers: Jobs and Taxes Important




National





GlobeSt Readers: Jobs and Taxes Important



NEW YORK CITY-Wrapping up our latest poll, we noticed that you said that the most important topics for the commercial real estate industry covered during the State of the Union were jobs and taxes. But what you’re sharing on Twitter seems to indicate otherwise








Multifamily Borrowers Have It Good




National





Multifamily Borrowers Have It Good



The multifamily market isn't showing any signs of slowing down, and it's a good time for borrowers, as long as Fannie and Freddie are still in the game, says Walker & Dunlop's King.








2012 Student Housing Sales Sets $3.7B Record




National





2012 Student Housing Sales Sets $3.7B Record



AUSTIN-Apartment Realty Advisors' Student Housing Year End Report indicates a healthy real estate sector, complete with stabilized cap rates, more developments and REITs and institutional investors returning full bore to the market.











Obama Platform Plays Out in Real World



LOS ANGELES-But in a totally apolitical way. In this first of a two-part article, we explore how some CRE trends, as projected by CBRE prior to the State of the Union, were also nailed by our prescient President.








Facility Closures & Downsizings: American Air/USAir Merger Could Impact U.S. Airport Hubs




National Commercial Real Estate News From CoStar Group





Facility Closures & Downsizings: American Air/USAir Merger Could Impact U.S. Airport Hubs



The proposed merger of two of the largest U.S. based carriers, American Airlines and US Airways announced this past week, would be the fourth major consolidation of domestic airlines during the past five years, according to Fitch Ratings. Based on analysis of those mergers, Fitch said the potential U.S. airport hub disruptions are possible.

Other mergers have included Delta-Northwest, United-Continental and Southwest-AirTran. In Fitch Ratings’...






Wednesday, February 20, 2013

Are The Days Numbered for Carried-Interest Tax Treatment?




National Commercial Real Estate News From CoStar Group





Are The Days Numbered for Carried-Interest Tax Treatment?



The latest salvo in the battle over the tax treatment of carried-interest investment income earned by partnerships, real estate funds, hedge fund and other investment entities has officially been fired.

U.S. Sen. Carl Levin (D-MI) has reintroduced legislation supported by the administration and congressional Democrats to classify carried-interest investment income as ordinary income for tax-reporting purposes, a move vehemently opposed by the real...






Apartment Rent Growth Expected To Decelerate In Top Markets Ahead of New Supply Wave




National Commercial Real Estate News From CoStar Group





Apartment Rent Growth Expected To Decelerate In Top Markets Ahead of New Supply Wave



With continued strong demand for apartments being met by a legitimate multifamily building boom in many U.S. cities, increasing apartment rents are expected to reach something of an inflection point in 2013.

Rent growth in some metros such as Boston, Washington, D.C. and New York is cooling down as those markets are doused by a wave of new supply from developers. Other areas of the U.S., such as the San Francisco Bay Area and Silicon Valley, remain...









Investors Giving Private Equity Real Estate Funds a Second Look



There are strong signs that investor confidence in private real estate funds is returning, with 49% of investors making new commitments in 2012, and 53% planning to make new commitments to the asset class in 2013, according to the 2013 Preqin Investor Outlook: Real Estate.

Private equity funds, too, are seeing the surge.

“Our real estate businesses are growing significantly,” Jonathan Z. Cohen, CEO and president of Resource America reported...









NBCUniversal Sale Could Signal More CRE-Related Sales by GE



Comcast Corp.’s deal to acquire General Electric’s entire 49% common equity stake in the NBCUniversal joint venture for $16.7 billion announced last week, includes a separate agreement to purchase the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC’s headquarters in Englewood Cliffs, NJ, from GE for $1.4 billion.

GE will realize a $900 million pretax gain on the real estate sale, according GE officials. That hefty gain may be enough...






Secondary Markets: Multifamily's New Frontier




National





Secondary Markets: Multifamily's New Frontier



BofI Federal Bank is one of our Thought Leader partners on Multifamily Leader, and Morgan Ferris tells us that he sees a growing demand for multifamily investment in secondary markets.











It's Official: Office Depot, OfficeMax to Join Forces



BOCA RATON, FL-The proposed merger would create a retailer with combined 2012 revenues of $18 billion, about three-quarters the sales of chief rival Staples.








Neighbors to the North Emerge As Largest Foreign Investor In U.S. Real Estate




National Commercial Real Estate News From CoStar Group





Neighbors to the North Emerge As Largest Foreign Investor In U.S. Real Estate



As a handful of major deals this month attest, Canada continues to be the most dominant foreign investor in U.S. assets, with a total investment more than triple that of its nearest competitor country, according to Jones Lang LaSalle.

"Canada emerged from the recession in better financial shape due to its banks issuing recourse loans and suffering fewer hits during the mortgage meltdown versus other countries. These deeper pockets allowed Canadians...









China's Largest Property Developer Expands to U.S.



China Vanke Co., Ltd. the largest residential property developer in the People’s Republic of China, has signed a joint venture with Tishman Speyer to develop a high-rise condominium at 201 Folsom St. in San Francisco.

The planned development to be managed by Tishman Speyer is the first North American investment for Shenzhen-based China Vanke, which has developed residences for over 400,000 households in China and provided property management services...






The Future is Bright - And Flexible




National





The Future is Bright - And Flexible



ORANGE COUNTY-Emily Watkins, senior vice president corporate client development at JLL sees social media and flexible office as two upcoming commercial real estate trends.











Office Depot, OfficeMax Agree to $1.19B Deal



NEW YORK CITY-Office Depot has confirmed it plans to merge with rival OfficeMax Inc. in an all stock deal valued at approximately $1.19 billion.











OfficeMax, Office Depot Discuss Merger



NEW YORK CITY-Office supply giants OfficeMax and Office Depot are in advanced discussions to merge the two companies.

The merger deal is said to be a stock-for-stock transaction, reports the Wall Street Journal.

Office Depot, based in Boca Raton, FL and OfficeMax, which is headquartered in Naperville, IL, have each suffered from falling sales due to the struggling economy and increased online competition. …








Dell LBO Won't Trend Through REIT World




National





Dell LBO Won't Trend Through REIT World



NEW YORK CITY-“According to the folks of Fitch, “chatterings” of REIT LBOs are growing. Highly unlikely, they say.








Tuesday, February 19, 2013

Business Execs Comment on 2013 Prospects




National





Business Execs Comment on 2013 Prospects



NEW YORK CITY-In this follow-up to our national poll story, a range of commercial real estate executives share their forward-looking views. In short, a good year ahead.








Office Max, Office Depot Discuss Merger




National





Office Max, Office Depot Discuss Merger



NEW YORK CITY-Office supply giants Office Max and Office Depot are in advanced discussions to merge the two companies.

The merger deal is said to be a stock-for-stock transaction, reports the Wall Street Journal.

Office Depot, based in Boca Raton, FL and Office Max, which is headquartered in Naperville, IL, have each suffered from falling sales due to the struggling economy and increased online competition. …








Effective Rent Growth Chugs Along




National





Effective Rent Growth Chugs Along



DALLAS-AXIOMetrics' recent figures show a slow, but still steady effective rent growth. Meanwhile, class C properties showed the best annual effective rent and occupancy growth rates during January.











Jan. Good, not Great, for REITs



WASHINGTON, DC-How are REITs like the rest of the market? January was a good, but not a bell-ringer, in keeping with modest performance industry-wide.











CRE Can Help Solve Climate Change



NEW YORK CITY-A new study enumerates the many ways the city’s office buildings can help fight climate change.








Friday, February 15, 2013

CRE Drives Improved Results For NGKF, Colliers Parent Companies




National Commercial Real Estate News From CoStar Group





CRE Drives Improved Results For NGKF, Colliers Parent Companies



Newmark Grubb Knight Frank (NGKF) and Colliers International contributed dramatically to the bottom lines of their parent companies in the fourth quarter and for 2012, according to results released by the companies this week.

BGC Partners, Inc. (Nasdaq: BGCP) revenue rose to $436.3 million in the fourth quarter, up 19.4% from the year-earlier quarter, driven by the continuing success of NGKF, which more than doubled its revenues to $148.7 million...






CoStar's People of Note (Feb. 10-16)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Feb. 10-16)



This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco.

NEW YORK CITY
C&W Taps Lo Russo to Lead New York Brokerage Operations
By CoStar Research

Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w






CoStar's People of Note (Feb. 10-16)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Feb. 10-16)



This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco.

NEW YORK CITY
C&W Taps Lo Russo to Lead New York Brokerage Operations
By CoStar Research

Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w






GlobeSt Readers: Business is Going Well in 2013




National





GlobeSt Readers: Business is Going Well in 2013



NEW YORK CITY-We asked, you answered, and our latest poll illustrates a rather positive forecast for businesses this year.








GlobeSt Readers: Business is Going Well in 2013




National





GlobeSt Readers: Business is Going Well in 2013



NEW YORK CITY-We asked, you answered, and our latest poll illustrates a rather positive forecast for businesses this year.








CRE Sales Surge In 2012 As Pricing Recovery Spreads To More Markets




National Commercial Real Estate News From CoStar Group





CRE Sales Surge In 2012 As Pricing Recovery Spreads To More Markets



Sales of U.S. commercial real estate reached nearly $64 billion in 2012, jumping 22% from the previous year to the highest annual total since 2004, according to the latest findings from the CoStar Commercial Repeat Sale Indices (CCRSI). Although the increase in sales volume reflects the subset of sale-pairs included in the CCRSI analysis and not the commercial real estate market at large, it does indicate the positive growth in the overall sales volume...






CRE Sales Surge In 2012 As Pricing Recovery Spreads To More Markets




National Commercial Real Estate News From CoStar Group





CRE Sales Surge In 2012 As Pricing Recovery Spreads To More Markets



Sales of U.S. commercial real estate reached nearly $64 billion in 2012, jumping 22% from the previous year to the highest annual total since 2004, according to the latest findings from the CoStar Commercial Repeat Sale Indices (CCRSI). Although the increase in sales volume reflects the subset of sale-pairs included in the CCRSI analysis and not the commercial real estate market at large, it does indicate the positive growth in the overall sales volume...






Policy 'Headwinds' Hobble Economy




National





Policy 'Headwinds' Hobble Economy



NEW YORK CITY-The economic scenario for 2013 is still a good-news/bad-news picture, thanks in large part to, guess, what? Our elected officials.











New Center Focused on Study of Urban Issues Worldwide Opens



NEW YORK CITY-Sustainability will be among the facility’s focus areas.











CRE Associations Line Up Behind Marketplace Fairness Act



WASHINGTON, DC-Legislation was introduced in both houses of Congress on Thursday to allow states to collect online sales taxes.








Policy 'Headwinds' Hobble Economy




National





Policy 'Headwinds' Hobble Economy



NEW YORK CITY-The economic scenario for 2013 is still a good-news/bad-news picture, thanks in large part to, guess, what? Our elected officials.











CRE Associations Line Up Behind Marketplace Fairness Act



WASHINGTON, DC-Legislation was introduced in both houses of Congress on Thursday to allow states to collect online sales taxes.








Thursday, February 14, 2013

New Center Focused on Study of Urban Issues Worldwide Opens




National





New Center Focused on Study of Urban Issues Worldwide Opens



NEW YORK CITY-Sustainability will be among the facility’s focus areas.








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...






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...






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...






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...






Scripps Health Pursues Diverse Real Estate Strategy




National





Scripps Health Pursues Diverse Real Estate Strategy



PHOENIX-Ross Caulum with Scripps Health shared the organization's real estate strategy at the recent RealShare Medical Office Buildings Conference.











At $1.1Tr, MF's Economic Contribution is Hefty



A recent report from NMHC and NAA found that the apartment sector contributed $1.1 trillion to the national economy in 2011, even in the midst of a weak economy.








Scripps Health Pursues Diverse Real Estate Strategy




National





Scripps Health Pursues Diverse Real Estate Strategy



PHOENIX-Ross Caulum with Scripps Health shared the organization's real estate strategy at the recent RealShare Medical Office Buildings Conference.











At $1.1Tr, MF's Economic Contribution is Hefty



A recent report from NMHC and NAA found that the apartment sector contributed $1.1 trillion to the national economy in 2011, even in the midst of a weak economy.








Scripps Health Pursues Diverse Real Estate Strategy




National





Scripps Health Pursues Diverse Real Estate Strategy



PHOENIX-Ross Caulum with Scripps Health shared the organization's real estate strategy at the recent RealShare Medical Office Buildings Conference.











At $1.1Tr, MF's Economic Contribution is Hefty



A recent report from NMHC and NAA found that the apartment sector contributed $1.1 trillion to the national economy in 2011, even in the midst of a weak economy.








Scripps Health Pursues Diverse Real Estate Strategy




National





Scripps Health Pursues Diverse Real Estate Strategy



PHOENIX-Ross Caulum with Scripps Health shared the organization's real estate strategy at the recent RealShare Medical Office Buildings Conference.











At $1.1Tr, MF's Economic Contribution is Hefty



A recent report from NMHC and NAA found that the apartment sector contributed $1.1 trillion to the national economy in 2011, even in the midst of a weak economy.








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...






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...






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...






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...






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...






CRE Sales Surge 22% In 2012 As Pricing Recovery Spreads To More Markets




National Commercial Real Estate News From CoStar Group





CRE Sales Surge 22% In 2012 As Pricing Recovery Spreads To More Markets



Sales of U.S. commercial real estate reached nearly $64 billion in 2012, jumping 22% from the previous year to the highest annual total since 2004, according to the latest findings from the CoStar Commercial Repeat Sale Indices (CCRSI).

The analysis of sales data through December caps a year in which the recovery in CRE pricing rippled beyond the apartment market into office, industrial and even retail property, to a greater or lesser extent. Meanwhile...









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...









Arcapita Bank Preparing To Liquidate $2 Billion in U.S. Assets



Arcapita Bank, an international investment firm based in Manama, Bahrain, plans to wind down operations as part of a proposed reorganization plan filed in its voluntary Chapter 11 bankruptcy cases in the United States.

The bank plans to put $2.37 billion portfolio of investments in real estate, private equity and venture capital, and infrastructure up for sale -- the bulk of the assets in the United States.

The plan allows Arcapita and its affiliates...






Scripps Health Pursues Diverse Real Estate Strategy




National





Scripps Health Pursues Diverse Real Estate Strategy



PHOENIX-Ross Caulum with Scripps Health shared the organization's real estate strategy at the recent RealShare Medical Office Buildings Conference.








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...






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...






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...









Arcapita Bank Preparing To Liquidate $2 Billion in U.S. Assets



Arcapita Bank, an international investment firm based in Manama, Bahrain, plans to wind down operations as part of a proposed reorganization plan filed in its voluntary Chapter 11 bankruptcy cases in the United States.

The bank plans to put $2.37 billion portfolio of investments in real estate, private equity and venture capital, and infrastructure up for sale -- the bulk of the assets in the United States.

The plan allows Arcapita and its affiliates...









Facility Closures & Downsizings (Week of Feb. 14)



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At $1.1Tr, MF's Economic Contribution is Hefty




National





At $1.1Tr, MF's Economic Contribution is Hefty



A recent report from NMHC and NAA found that the apartment sector contributed $1.1 trillion to the national economy in 2011, even in the midst of a weak economy.








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...






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...






CRE Sales Surge 22% In 2012 As Pricing Recovery Spreads To More Markets




National Commercial Real Estate News From CoStar Group





CRE Sales Surge 22% In 2012 As Pricing Recovery Spreads To More Markets



Sales of U.S. commercial real estate reached nearly $64 billion in 2012, jumping 22% from the previous year to the highest annual total since 2004, according to the latest findings from the CoStar Commercial Repeat Sale Indices (CCRSI).

The analysis of sales data through December caps a year in which the recovery in CRE pricing rippled beyond the apartment market into office, industrial and even retail property, to a greater or lesser extent. Meanwhile...









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...






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...






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.

Share this story...









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?...