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weekly-commercial

SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S.

April 12, 2012

Costar… Cross-border investment in real estate reached its highest level in three years in 2011, with New York, Washington, Los Angeles, San Francisco and Chicago accounting for five of the top 10 international markets. However, hopes for a massive influx of foreign capital into U.S. property markets by risk-averse international investors has so far gone unfulfilled. That may be changing, according to recent separate reports from Property and Portfolio… More: SAFE HAVEN? Europe’s Investment Woes May Push More Offshore Capital To U.S. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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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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In The Pipeline: CoStar Development & Construction News for March 25 – 31

March 27, 2012

Costar… 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. Architects Report Higher Billings For 4th Straight Month The Link: In The Pipeline: CoStar Development & Construction News for March 25 – 31 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Holliday, Fenoglio Lead Veteran Team to CBRE

March 26, 2012

Costar… CBRE recruited Harold E. (Hal) Holliday, John T. Fenoglio, David M. Aaronson and James M. Richards Jr. as executive vice presidents. The brokers will serve in the mortgage brokerage’s debt and equity finance group in Houston. The team previously worked at Grandbridge Real Estate Capital. Holliday has nearly four decades in mortgage brokerage and co-founded Holliday Fenoglio. After HF’s acquisition by Amresco 18 years ago, he successfully led the… Visit link: Holliday, Fenoglio Lead Veteran Team to CBRE Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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BOMA 360 Grows to 420

March 26, 2012

Costar… A total of 420 buildings in 55 markets have now received the coveted BOMA 360 designation, which recognizes commercial properties for excellence in overall building operations and management. BOMA International went on to name the top five companies, each with 20 or more commercial buildings across the country to have reached BOMA 360 status:CBRE – 59 buildingsBrookfield Properties – 31 buildingsPiedmont Office Realty Trust – 24 buildingsParmenter… Read more here: BOMA 360 Grows to 420 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Lodging Sales Surge As ‘Unprecedented’ Hotel Market Run Unfolds

March 22, 2012

Costar… The U.S. lodging industry, benefitting from two years of sporadic recovery, should continue to enjoy gains in occupancy and pricing power through 2014, with rising profits luring greater levels of investment, according to a series of hospitality reports and outlooks released over the last few days. PKF Hospitality Research, LLC predicted this week that revenue per available room (RevPAR) for U.S. hotels will rise 5.8% in 2012, the result of solid… Link: Lodging Sales Surge As ‘Unprecedented’ Hotel Market Run Unfolds Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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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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Private Equity Funds Expect CRE Return Growth To Slow

March 22, 2012

Costar… One-year returns from private equity real estate funds have shown remarkable improvement since the real estate bubble burst in the latter half of the decade, despite under-performing every other major asset class, according to PitchBook/BMC Group’s annual private equity report. PitchBook is an independent private equity news and data provider. BMC Group is a leading global provider of information management solutions. Real estate funds were… See the original post here: Private Equity Funds Expect CRE Return Growth To Slow Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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GSA Buys Columbia Plaza Office Bldg. for $99.6M

March 21, 2012

Costar… The U.S. General Services Administration acquired the 511,500-square-foot Columbia Plaza Office Building in Washington, DC, from a partnership between Normandy Real Estate Partners and Westbrook Partners. The property traded for $99.59 million or $195 per square foot. The 15-story structure at 2401 E. St. NW was built in 1974 and renovated in 1999. The U.S. Department of State’s Diplomacy in Action agency has occupied the building since 1992 under… Read the rest here: GSA Buys Columbia Plaza Office Bldg. for $99.6M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Transwestern Forms Global Alliance with BNP Paribas Real Estate

March 20, 2012

Costar… BNP Paribas Real Estate has strengthened its presence in the U.S. by signing an alliance agreement with Transwestern. The alliance agreement covers the transaction, valuation and corporate real estate consulting business lines and provides both firms the ability to provide real estate and transactional services for clients in 181 cities in 30 countries – 150 where BNP Paribas Real Estate is located and 31 where Transwestern is present. Bernard… See more here: Transwestern Forms Global Alliance with BNP Paribas Real Estate 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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Shell Taps Pittsburgh Area For Proposed $2B Chemical Plant

March 16, 2012

Costar… Shell Oil Co. has picked a site in Beaver County, PA over locations in two other states for a proposed $2 billion petrochemical complex that could create more than 10,000 permanent jobs and another 10,000 construction jobs. Shell Chemical LP signed a land option agreement with Horsehead Corp. to evaluate the site in Potter and Center Townships near Monaca, PA, about 35 miles northwest of Pittsburgh. The facility would include an ethane “cracker… Link: Shell Taps Pittsburgh Area For Proposed $2B Chemical Plant 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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The Unanswered Multifamily Contradiction

March 8, 2012

Costar… With increasing occupancies and rents, the multifamily sector has been one of the commercial property types to bounce back fastest from the effects of the ‘Great Recession.’ Yet, at the same time, the multifamily sector has been one of the worst performing property types in terms of delinquencies, a contradiction noted by Fitch Ratings. Using the standard Fitch Ratings definition that counts any loan 60 or more days behind in payment as delinquent… See the article here: The Unanswered Multifamily Contradiction Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investment Technology Group Leases 132,000 SF in NYC

March 2, 2012

Costar… Investment Technology Group (NYSE:ITG), an independent agency research broker that partners with asset managers globally, signed a new lease for 132,092 square feet in the office building at One Liberty Plaza in New York City. The company will be relocating from 380 Madison Ave., where they currently lease about 101,000 square feet. The expected commencement date for the new lease will be on or around May 1, 2012. Subject to terms and conditions… Go here to read the rest: Investment Technology Group Leases 132,000 SF in NYC 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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Developers Turning To Adaptive Reuse; Eye Excess U.S. Property

March 1, 2012

Costar… What’s a developer to do? With development financing still very tough to come by and construction levels at all-time lows, many are turning to redevelopment, adaptive reuse and jump-starting stalled projects ahead of an expected broader recovery as a potentially less expensive and more lucrative alternative to ground-up development. Developers are closely monitoring dual legislation from the White House and in Congress that could result in the… Here is the original post: Developers Turning To Adaptive Reuse; Eye Excess U.S. Property 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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SL Green Closes on $252.5M Acquisition in NYC

February 28, 2012

Costar… SL Green Realty Corp. (NYSE: SLG), the largest commercial office landlord in New York City, has closed on its previously announced acquisition of the HarperCollins Bldg. at 10 E. 53rd St. in New York City. The total purchase price came to $252.5 million, or approximately $647 per square foot. The company then entered a joint venture with Canada Pension Plan Investment Board (CPPIB), which took a 45 percent ownership stake in the property with… View post: SL Green Closes on $252.5M Acquisition in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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SL Green Closes on $252.5M Acquisition in NYC

February 28, 2012

Costar… SL Green Realty Corp. (NYSE: SLG), the largest commercial office landlord in New York City, has closed on its previously announced acquisition of the HarperCollins Bldg. at 10 E. 53rd St. in New York City. The total purchase price came to $252.5 million, or approximately $647 per square foot. The company then entered a joint venture with Canada Pension Plan Investment Board (CPPIB), which took a 45 percent ownership stake in the property with… View post: SL Green Closes on $252.5M Acquisition in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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