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.








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.








Avalon Bay, EQR complete Archstone Buy




National





Avalon Bay, EQR complete Archstone Buy



ARLINGTON, VA—Transaction involves $669 billion in cash and 60 multifamily complexes with more than 20,000 units.








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.








Wednesday, February 27, 2013

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.











What's Driving Those Home Prices? A Few Theories



WASHINGTON, DC-Funds that are buying up single-family homes for rentals may be partly behind the price rises, says Christopher Tower, assurance partner in the Real Estate practice of BDO USA.








Despite Challenges, Developers Get Their Groove Back




National





Despite Challenges, Developers
Get Their Groove Back



MIAMI—The multifamily market’s upward trajectory has given developers the confidence to start building again. But with this comes an entirely new set of concerns, as well as trends in construction.








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

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.








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

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.








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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.











Select Income Steps Up Acquisitions



NEWTON, MA-The single-tenant REIT has made nearly $300 million of acquisitions since this past Oct. 1, including a pair of Addison, TX office buildings it bought in January.











Capital Square Rides Net Lease Wave



RICHMOND, VA-And in launching the new platform, Louis Rogers says he can also provide a no-harm, no-foul approach to TICs.








Friday, February 22, 2013

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

13 for '13. Trends to Watch




National





13 for '13. Trends to Watch



LOS ANGELES-In this second part of today’s two-part article, CBRE professionals review the 13 primary trends to watch this year.








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



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.








Wednesday, February 20, 2013

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




National





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.











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.








OfficeMax, Office Depot Discuss Merger




National





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.








2013 Optimism: Business Execs Comment




National





2013 Optimism: Business Execs Comment



NEW YORK CITY-2013 is expected to be a good business year and a bevy of commercial real estate executives shared their forward-looking views.








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

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.








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.











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.








Thursday, February 14, 2013

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.








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.








Wednesday, February 13, 2013

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.








NBC Buys Its 30 Rock Floors in $1.4B Trade




National





NBC Buys Its 30 Rock Floors in $1.4B Trade



NEW YORK CITY-The deal also includes CNBC’s headquarters in Englewood Cliffs, NJ; it’s expected to close by the end of March.











Modular Construction to Take Off in 2013



NEW YORK CITY-Patricia Lancaster, professor, construction management at NYU Schack Institute of Commercial Real Estate shared her views on modular construction and the rapidly developing Hudson Yards and West Side projects.








NBC Buys Its 30 Rock Floors in $1.4B Trade




National





NBC Buys Its 30 Rock Floors in $1.4B Trade



NEW YORK CITY-The deal also includes CNBC’s headquarters in Englewood Cliffs, NJ; it’s expected to close by the end of March.











Modular Construction to Take Off in 2013



NEW YORK CITY-Patricia Lancaster, professor, construction management at NYU Schack Institute of Commercial Real Estate shared her views on modular construction and the rapidly developing Hudson Yards and West Side projects.








Obama Commits to Jobs, Infrastructure




National





Obama Commits to Jobs, Infrastructure



WASHINGTON, DC-‘Made in America,’ ‘Fix it First’ and ‘Partnership to Rebuild America” were slogans coined at last night’s State of the Union address, in three areas that will impact our industry.











Banner Health Model Offers Glimpse Into Future of Healthcare Real Estate



PHOENIX-John Mugford with HREIT explains how Banner Health is building an ambulatory system throughout the southwest. This was reported at the latest RealShare Medical Office Buildings conference.








Obama Commits to Jobs, Infrastructure




National





Obama Commits to Jobs, Infrastructure



WASHINGTON, DC-‘Made in America,’ ‘Fix it First’ and ‘Partnership to Rebuild America” were slogans coined at last night’s State of the Union address, in three areas that will impact our industry.











Banner Health Model Offers Glimpse Into Future of Healthcare Real Estate



PHOENIX-John Mugford with HREIT explains how Banner Health is building an ambulatory system throughout the southwest. This was reported at the latest RealShare Medical Office Buildings conference.








Tuesday, February 12, 2013

The Top Five in Second Tier




National





The Top Five in Second Tier



NEW YORK CITY-In this UPDATE to this morning’s report, experts share their picks for the most promising secondary markets.








The Top Five in Second Tier




National





The Top Five in Second Tier



NEW YORK CITY-In this UPDATE to this morning’s report, experts share their picks for the most promising secondary markets.








State Wars: CA V. TX Battle Gets Hot




National





State Wars: CA V. TX Battle Gets Hot



SACRAMENTO-Texas Gov. Rick Perry recently released a radio ad here criticizing the Golden State's business climate. And while California officials might not be worried, local sources have some key advice to entice businesses to stay put.











Why Buy Assets in a 2nd-Tier City



NEW YORK CITY-There are cities without the luster of Manhattan that can still make your ROI shine. This is the first of a two-part article.








State Wars: CA V. TX Battle Gets Hot




National





State Wars: CA V. TX Battle Gets Hot



SACRAMENTO-Texas Gov. Rick Perry recently released a radio ad here criticizing the Golden State's business climate. And while California officials might not be worried, local sources have some key advice to entice businesses to stay put.











Why Buy Assets in a 2nd-Tier City



NEW YORK CITY-There are cities without the luster of Manhattan that can still make your ROI shine. This is the first of a two-part article.








Monday, February 11, 2013

How to Survive the First 6 Months




National





How to Survive the First 6 Months



MIAMI-In the second installment of today's Young Professionals story, Andres Del Corral shares four essential, common-sense tips to help survive the pre-commission days.








How to Survive the First 6 Months




National





How to Survive the First 6 Months



MIAMI-In the second installment of today's Young Professionals story, Andres Del Corral shares four essential, common-sense tips to help survive the pre-commission days.








Young Pro: Coping at the Entry Level




National





Young Pro: Coping at the Entry Level



MIAMI-Before the big commissions roll in, young brokers need to know how to keep body and soul together. In this first part of a two-part story, Andres del Corral of Blanca Commercial Real Estate discusses the stark reality of starting out.











30-Year Fixed Mortgage Rates Continue to Rise



SEATTLE-The rate for a 15-year fixed home loan is currently 2.7%, while the rate for a 5-1 adjustable-rate mortgage is 2.35%, says Zillow.








Young Pro: Coping at the Entry Level




National





Young Pro: Coping at the Entry Level



MIAMI-Before the big commissions roll in, young brokers need to know how to keep body and soul together. In this first part of a two-part story, Andres del Corral of Blanca Commercial Real Estate discusses the stark reality of starting out.











30-Year Fixed Mortgage Rates Continue to Rise



SEATTLE-The rate for a 15-year fixed home loan is currently 2.7%, while the rate for a 5-1 adjustable-rate mortgage is 2.35%, says Zillow.








Friday, February 8, 2013

Tweets of the Week: You Answered




National





Tweets of the Week: You Answered



NEW YORK CITY-Your up-to-the moment views are certainly important to us and so, we’ve been asking some hot-topic questions on Twitter. Here are your answers.








Tweets of the Week: You Answered




National





Tweets of the Week: You Answered



NEW YORK CITY-Your up-to-the moment views are certainly important to us and so, we’ve been asking some hot-topic questions on Twitter. Here are your answers.








Fannie Sees Hope in Housing; Good for CRE




National





Fannie Sees Hope in Housing; Good for CRE



WASHINGTON, DC-Concerns about job losses are dwindling, the GSE says. Survey respondents say it’s a good time to sell.








Fannie Sees Hope in Housing; Good for CRE




National





Fannie Sees Hope in Housing; Good for CRE



WASHINGTON, DC-Concerns about job losses are dwindling, the GSE says. Survey respondents say it’s a good time to sell.








Thursday, February 7, 2013

Blackstone Takes UBS Stake in Retail Portfolio




National





Blackstone Takes UBS Stake in Retail Portfolio



NEW YORK CITY-The 12-state portfolio encompasses 5.7 million square feet and was 96.1% leased at year’s end, Bloomberg reported Thursday.








Mid-America Compares Top 9 Bank Chains In Net Lease Investment Study




National





Mid-America Compares Top 9 Bank Chains In Net Lease Investment Study



OAKBROOK TERRACE, IL - Mid-America Real Estate Corp. has released a comparison study of net lease data among the top nine banking chains in the United States.








Wednesday, February 6, 2013

Kimco Likes Outlook for Portfolio, Sector




National





Kimco Likes Outlook for Portfolio, Sector



NEW HYDE PARK, NY-Its occupancy levels now at their highest since before the capital markets meltdown, the shopping center REIT expects further improvement this year.











NYC Construction "Amazes" with Distinctive Architecture in 2013



NEW YORK CITY-Jill Lerner, 2013 President of American Institute of Architects New York; principal, Kohn Pedersen Fox Associates architects, talks with us about her new role and this city’s continued brilliance and innovation this year.








MOB RFP on the Rise; Could More Development be Far Behind?




National





MOB RFP on the Rise; Could More Development be Far Behind?



MINNETONKA, MN-In this third part of a three-part series, HREI editor John Mugford examines a potential increase in healthcare real estate development for 2013.











Originations Up as GSEs Compete



SAN DIEGO-News from MBA CREF is that MBA forecasts an 11% increase in commercial and multifamily mortgage originations this year as competing entities crowd the lending community.








Did You Get Your Annual Bonus?




National





Did You Get Your Annual Bonus?



NEW YORK CITY-If you didn’t, you’re in the minority, according to a study just completed by CoreNet Global and FPL Associates, which GlobeSt.com has accessed exclusively.











NYC Architecture and Beyond



NEW YORK CITY-In the second part of our interview with Jill Lerner, the AIA president discusses projects in which she was most invested, and how she would choose to reshape her selected NYC area.








Tuesday, February 5, 2013

New Platform Offers Online Matching for Buyers and Sellers




National





New Platform Offers Online Matching for Buyers and Sellers



NEWPORT BEACH, CA—Non-traded REITs have issued nearly $80 billion of equity during the past ten years to more than 2 million shareholders.








Fed Files Charges Against S&P Over Mortgage-Backed Bonds




National





Fed Files Charges Against S&P Over Mortgage-Backed Bonds



LOS ANGELES-The US Justice Department filed civil charges against Standard & Poor’s on Monday alleging the credit rating firm gave inaccurate appraisals on mortgage-backed securities that fueled the national recession.








Feds Files Charges Against Standard & Poor's Over Mortgage-Backed Bonds




National





Feds Files Charges Against Standard & Poor's Over Mortgage-Backed Bonds



LOS ANGELES-The U.S Justice Department filed civil charges against Standard & Poor’s on Monday alleging the credit rating firm gave inaccurate appraisals on mortgage-backed securities that fueled the national recession.








Kimco Puts Stress on Responsibility




National





Kimco Puts Stress on Responsibility



NEW HYDE PARK, NY-Corporate responsibility that is, with a website highlighting the REIT’s sustainability push.








Monday, February 4, 2013

A Good Year Ahead for Healthcare Real Estate




National





A Good Year Ahead for Healthcare Real Estate



MINNETONKA, MN-John Mugford with Healthcare Real Estate Insights offers a three-part series forecast of what will happen in 2013. Part one: Healthcare real estate investments, developments will ramp up.











Deutsche Bank Revamps RREEF Team



FRANKFURT-The move comes as new investors are coming into the infrastructure business, says RREEF head Pierre Cherki.








Online Platform Focuses on Bank Assets




National





Online Platform Focuses on Bank Assets



ARLINGTON, VA-GlobeSt.com learns exclusively that Promontory Interfinancial is launching a marketplace for lenders, brokers and advisers to share—and hopefully move—bank assets.








Friday, February 1, 2013

Multifamily Lending Isn't Slowing Down




National





Multifamily Lending Isn't Slowing Down



BofI Federal Bank does not see the multifamily market taking any turns for the worse. He talks about his expectations for 2013.











157,000 Jobs Added to Economy; Unemployment at 7.9%



WASHINGTON, DC-The Bureau of Labor Statistics also revised job gains for October, November and December.








Buying, Building Both in Multifamily's Future




National





Buying, Building Both in Multifamily's Future



CALABASAS, CA-West Coast cities dominate the Top 5 best bets for 2013 as Marcus & Millichap ranks the most promising cities.











Starwood Capital Taps Rohm to Head SH Group



GREENWICH, CT-The appointment comes as Starwood Capital begins rolling out the first five of its Baccarat and 1 Hotels properties, including three in New York City.