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weekly

Bank Annual Reports: Treasure Maps to $700 Million in Distressed CRE Assets

April 12, 2012

Costar… While the Federal Deposit Insurance Corp. (FDIC) doesn’t reveal the identities of banks listed on its “Problem List” of institutions — ones that the FDIC determines pose a greater risk of loss to its deposit insurance fund — there is nothing stopping the problem banks’ parent companies from identifying themselves. In a study of annual reports filed by bank holding companies in the first quarter of this year, CoStar Group found 15 firms that… Continue reading here: Bank Annual Reports: Treasure Maps to $700 Million in Distressed CRE Assets Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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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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ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014

March 29, 2012

Costar… Even among the stream of positive real estate surveys and forecasts recently, the one issued this week by the Urban Land Institute (ULI) stands out. Expressing the consensus views of 38 leading real estate economists and analysts from across the U.S., ULI reported commercial real estate market conditions and the overall economy is expected to see broad improvement over at least the next two years as the recovery cycle kicks into overdrive and shifts… See original here: ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Bahrain-based Arcapita Bank Files Ch. 11, Protecting $2 Billion in U.S. Properties

March 29, 2012

Costar… Arcapita Bank BSC, an international investment firm based in Bahrain, put itself and some of its affiliates into Chapter 11 bankruptcy reorganization in the United States. Included in the Chapter 11 filings is Arcapita Investment Holdings Ltd., which controls a $2.37 billion portfolio of investments in real estate, private equity and venture capital, and infrastructure. Its largest U.S. real estate holdings include: Arcapita US Residential… Original post: Bahrain-based Arcapita Bank Files Ch. 11, Protecting $2 Billion in U.S. Properties Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Wood Partners Sells Annapolis Multifamily for $68M

March 28, 2012

Costar… Wood Partners sold 1901 West St. in Annapolis, MD, to Pantzer Properties for $68 million or $226,667 per unit. The 300-unit multifamily building was built in 2006 and includes 19,211 square feet of fully leased retail space on the ground floor. Freddie Mac provided a $52 million acquisition loan. Dave Nachison, Alan Davis and Brenden Flood of HFF represented the seller. The buyer had no representation. Please see CoStar COMPS #2276642… See the article here: Wood Partners Sells Annapolis Multifamily for $68M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Inland Finalizes Purchase of 5 Hotels for $393 Million

March 27, 2012

Costar… Inland American Lodging Group, a subsidiary of Inland American Real Estate Trust, completed its purchase of five hotels in three separate deals totaling $393.1 million. DiamondRock Hospitality Co. (NYSE: DRH) sold three properties for $262.5 million or $184,599 per room. The assets were built between 1981 and 1986. The 1,422-door portfolio includes: the 409-room Griffin Gate Marriott Resort & Spa, a seven-story, 350,000-square-foot structure at… Visit link: Inland Finalizes Purchase of 5 Hotels for $393 Million Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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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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Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale

March 22, 2012

Costar… Grubb & Ellis Co. has canceled a bankruptcy auction to sell off its assets, leaving BGC Partners, LP as the only bidder and clearing the way for a court hearing on Thursday to approve the sale. Santa Ana, CA-based Grubb & Ellis filed for bankruptcy protection on Feb. 20 and entered into a letter of intent in which BGC Partners, acting as a stalking horse buyer, acquired the brokerage’s outstanding secured debt and submit the minimum bid to acquire… See more here: Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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As Investors Shift Focus, CRE Sales Volume Falls Off

March 22, 2012

Costar… While February is always the slowest month of the year for commercial real estate investment sales, activity last month dropped off sharply from sales volume in January — but more importantly sales volume also declined from a year ago. While CoStar has not completely closed the books on its COMPs research for February 2012 and the sales volume for that month will still go up slightly–the gap is such that sales volume for February 2012 is unlikely… See more here: As Investors Shift Focus, CRE Sales Volume Falls Off 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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Archstone Trades Crystal City Multifamily for $175M

March 21, 2012

Costar… Archstone sold the 13-story Buchanan apartment building in Arlington, VA, to Dweck Properties, a Washington, DC-based management investment for $175 million, or about $395,928 per unit. The 579,000-square-foot, 442-unit multifamily complex delivered in 1971 at 320 23rd St. in Crystal City. It consists of 510,000 square feet of apartment space and 23,000 square feet of retail, according to CoStar information. Transwestern represented the buyer… See more here: Archstone Trades Crystal City Multifamily for $175M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Don’t Look Now But Investor Interest Reviving In Warehouses

March 21, 2012

Costar… While the heated apartment market continues to grab headlines in the ongoing CRE recovery, a number of investors are quietly turning their attention to the warehouse sector anticipating a strengthening economic rebound as the U.S. jobs picture continues to improve, leading to increased consumption and consumer spending, according to the latest PwC (PricewaterhouseCoopers) Real Estate Investor Survey. “Warehouse demand is rapidly picking up, especially… Read more here: Don’t Look Now But Investor Interest Reviving In Warehouses 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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CoStar CRE Pricing Indices Continue Upward Trend In January

March 15, 2012

Costar… CoStar’s monthly National Composite Index of commercial real estate prices opened 2012 with a 1.5% increase as the ongoing recovery reaped the benefits of improving investor confidence and steady pricing growth. With the gain in January, the National Composite Index is now 1.9% above the same period last year and has posted gains in eight of the last nine months since April 2011, with an average monthly increase of 0.8% — consistent with steady… Continue reading here: CoStar CRE Pricing Indices Continue Upward Trend In January Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Facing Wave of Maturities, More Banks Expected To Sell Non-Performing Loans in 2012

March 15, 2012

Costar… After years of slim pickings as many banks opted to extend non-performing loans (NPL) to CRE owners, investors are finally enjoying an uptick in opportunities for acquiring distress commercial real estate assets, according to the latest Ernst & Young U.S. nonperforming loan survey, At the crossroads: Ernst & Young 2012 real estate nonperforming loan investor survey. Improving bank earnings and declining loan loss reserves, coupled with the sheer… Follow this link: Facing Wave of Maturities, More Banks Expected To Sell Non-Performing Loans in 2012 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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As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff

March 8, 2012

Costar… CMBS markets are ramping up for a blast of activity that they haven’t seen since the first half of last year. In the past few days, three new deals totaling $2.67 billion have priced or hit the streets, part of an expected larger volume of spring deals to come. “The roughly $11 billion of CMBS deals lined up through April puts the market on pace for PPR’s prediction of $35 billion in 2012,” says John O’Callahan, capital market strategist for CoStar… See original here: As Banks Cautiously Return to CRE Lending, CMBS Market Poised for Takeoff 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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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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CBRE Taps Durburg To Oversee All Leasing and Sales Transaction Services

March 7, 2012

Costar… CBRE Group promoted one of its division presidents to the newly created position of Global President, Transaction Services. In his new role, Jack Durburg, formerly president of CBRE’s U.S. Central Division based in Chicago, will be charged with expanding the firm’s position in leasing, capital markets and transaction management services globally across all property types, working closely with the regional and business line leaders. Durburg… Follow this link: CBRE Taps Durburg To Oversee All Leasing and Sales Transaction Services Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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