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market

Betting on Vegas Comeback

April 17, 2012

MGM Resorts and Dubai World made an ill-fated bet on the Las Vegas real-estate and gambling market, launching an $8.5 billion casino resort called City Center soon before the market turned. Now, they are betting that the condo market is approaching a bottom.

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CapLease Receives 1M-SF Nestlé Renewal

March 27, 2012

Costar… CapLease, Inc. (NYSE: LSE) executed a lease renewal with Nestlé Holdings, Inc. for its 1,045,153-square-foot industrial property at 555 Nestle Way in Macungie, PA. The lease will commence on January 1, 2013 for a term of five years. Contract rent is $4.40 per square foot, increasing 3% per annum. Nestlé’s distribution building was constructed in 1994 on 86 acres in the Lehigh Valley Industrial submarket of Philadelphia. CapLease… Read more: CapLease Receives 1M-SF Nestl

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CMBS Market Heats Up, So Too Do Credit Risks

March 22, 2012

Costar… The CMBS market continued to heat up this week as securitization firms rolled out four new offerings totaling more than $3 billion. Those deals are in addition to three offerings totaling $2.67 billion that sold earlier this month. The offerings are another sign of a relaxation from the extremely tight credit conditions that smothered investment activity following the Great Recession, according Moody’s Investors Service. At the same time, the newest… Read more: CMBS Market Heats Up, So Too Do Credit Risks Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Multifamily Mortgage Activity Enjoys Upswing after 3-Year Slump

March 22, 2012

Costar… The multifamily mortgage market continues to experience an increase in lending activity from a variety of participants. Although the GSEs and FHA have been the primary participants, there has also been renewed interest from portfolio lenders, banks and thrifts and commercial mortgage-backed securities issuers, according to new research from Fannie Mae. Based on publicly-available company reports, Kim Betancourt, director multifamily economics and… More: Multifamily Mortgage Activity Enjoys Upswing after 3-Year Slump Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 11-17)

March 16, 2012

Costar… This week’s People of Note includes the following markets: Chicago, Los Angeles, New York City and South Florida. NEW YORK CITY Horowitz Promoted to EVP at Studley By CoStar Research Longtime Studley broker Daniel O. Horowitz was recently promoted to executive vice president. Consistently one of the firm’s top-producing brokers, Horowitz has been with the New York-based real estate services firm since 1990. Over the course of his career Excerpt from: CoStar’s People of Note (March 11-17) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investors See Good Prognosis for Health-Care Real Estate Despite Market Uncertainty

March 15, 2012

Costar… The health care industry and its real estate providers are literally caught between two eras as the 2012 elections and a key U.S. Supreme Court decision that will determine the future of health-care reform play out against the backdrop of a strengthening, yet far from robust, economic recovery. Richard Taylor, managing director with Jones Lang LaSalle’s Healthcare Solutions Group, said three key pressures are contributing to the current environment… Go here to read the rest: Investors See Good Prognosis for Health-Care Real Estate Despite Market Uncertainty Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Auction Sales Keep Going, Going, Going Up

March 15, 2012

Costar… One of the clear winners so far in the post Great Recession market are commercial real estate auctioneers. The dollar volume of CRE properties sold via auction jumped 33% from 2010 through 2011. Auction sales, excluding non-arms length foreclosures, jumped from $2.52 billion in 2010 to $3.35 billion, according to data from CoStar COMPs. It should be noted that these numbers may under-report the amount and volume of auction-based sales activity… Link: Auction Sales Keep Going, Going, Going Up Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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PG&E’s Inks 250,000-SF Office Lease in San Ramon

March 14, 2012

Costar… Pacific Gas and Electric plans to move the majority of its gas operations to Bishop Ranch, a 585-acre business community in San Ramon, CA. The utility supplier finalized a 10-year lease for 250,000 square feet of office space at 6121 Bollinger Canyon Road. Built in 2003, Building Z is a five-story, 250,000-square-foot office building in in the East Bay/Oakland market. Sunset Development Co. owns the LEED Gold certified property. Bishop Ranch… Read more here: PG&E’s Inks 250,000-SF Office Lease in San Ramon Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Macys.com Leases 242,573 SF in San Francisco

March 1, 2012

Costar… Macys.com, the e-commerce business for mega retailer Macy’s Inc., leased 242,573 square feet at the 14-story mid-rise at 680 Folsom St. in San Francisco. The online operation will occupy seven floors of the 476,000-square-foot, Class A office building in the South of Market district. The 15-year lease term has a January 2014 move-in date. The technology division will relocate from several local properties including 685 Market St., a 219,831-square… Continue reading here: Macys.com Leases 242,573 SF in San Francisco Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings

March 1, 2012

Costar… American Realty Capital Trust Inc.’s board of directors and chairman believe that the timing is right for more REITs to enter the publicly traded market. That’s exactly what the non-publicly traded REIT is doing this week, with plans to offer up to 6.6 million shares of common stock at an assumed price of $11.50 per share in an initial public offering as the REIT’s operating partnership looks to repay indebtedness and raise general working capital… Read the original post: Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings

March 1, 2012

Costar… American Realty Capital Trust Inc.’s board of directors and chairman believe that the timing is right for more REITs to enter the publicly traded market. That’s exactly what the non-publicly traded REIT is doing this week, with plans to offer up to 6.6 million shares of common stock at an assumed price of $11.50 per share in an initial public offering as the REIT’s operating partnership looks to repay indebtedness and raise general working capital… Read the original post: Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Cousins Becomes Second Major Firm To Drop Land Development

March 1, 2012

Costar… Less than one month after Forest City Enterprises announced it will reposition or divest its land holdings and refocus on apartments, office and retail developments in its core markets, Cousins Properties Inc., said it too plans to drop land from its mix of assets — and will take a $126 million charge to do so. The Atlanta-based REIT’s commercial land holdings include 475 acres, with 326 acres in Georgia, 66 in Texas, 56 in Florida and smaller… Read more from the original source: Cousins Becomes Second Major Firm To Drop Land Development Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs

February 16, 2012

Costar… The Westfield Group has formed a $4.8 billion joint venture on 12 regional shopping malls in the United States with the Canada Pension Plan Investment Board (CPPIB.) The deal is the largest real estate investment made by the institutional investor, and a big bet on the future health of U.S. shopping malls. The investment gives CPPIB ownership interests in 26 malls in major U.S. markets. It has also invested in malls in the U.K., Australia, Brazil… Read the original post: Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Tishman Speyer Taking Over 16 U.S. Office Bldgs.

February 16, 2012

Costar… Tishman Speyer Properties in New York is buying out its affiliated Australian REIT that has ownership in 16 office buildings across the United States in markets including New York, Philadelphia, Washington DC, Chicago, Milwaukee, San Francisco, Los Angeles and Seattle. Sydney, Australia based Tishman Speyer Office Fund owns 99.9% of four office buildings totaling 893,000 square feet and 45.9% ownership in another 12 totaling 7.46 million square… More here: Tishman Speyer Taking Over 16 U.S. Office Bldgs. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (Feb. 5-11)

February 10, 2012

Costar… This week’s People of Note includes the following markets: Baltimore, Chicago, New York City, Philadelphia and Washington, DC. NEW YORK CITY Carlton Hires Managing Directors Gollin & Moss By Timothy Weber Mark Gollin and William Moss joined Carlton Group as managing directors. Gollin will run the European advisory group, while Moss will run the residential strategic advisory group. Gollin has spent the last 16 years in senior pos Go here to see the original: CoStar’s People of Note (Feb. 5-11) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Retail Outlook: Cautious Optimism as Tipping Point In Shopping Center Rents Expected In 2012

February 9, 2012

Costar… Retail property rents are expected to begin to rise later this year as demand for store space in shopping centers and malls slowly soaks up available space and, combined with the dearth of new space under development, finally tips the supply and demand balance. Improvements in market fundamentals are starting to spread into secondary markets and smaller shopping centers typically occupied by Mom-and-Pop businesses, according to CoStar’s 2011 Retail… Here is the original post: Retail Outlook: Cautious Optimism as Tipping Point In Shopping Center Rents Expected In 2012 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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China Vanke Hints at Market Weakening

November 16, 2011

China Vanke said its housing prices are set by the market, suggesting a shift in sentiment as some housing prices fall in response to government tightening measures.

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Home Builders Run Out of Lifelines

August 31, 2011

Five years into a housing meltdown, questions are arising about how long some home builders can survive without significant improvement in the market.

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Market Turmoil Stings Commercial Sector

August 10, 2011

Tremors in the market for commercial-mortgage-backed securities are hindering the recovery of the commercial-property sector.

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CMBS Investors See Troublesome Trend

July 27, 2011

A key funding source that has made the commercial mortgage-backed securities revival possible may back further away from the market in coming months, leaving lenders to scramble for other buyers or watch their volume fizzle.

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