National
Vornado Extends $1.25B Credit Facility
NEW YORK CITY-The two-year extension lowers both the interest rate and the facility fee, the REIT said late Thursday afternoon.
Friday, March 29, 2013
CBRE's Zubel Outlines Industrial Outlook
National
CBRE's Zubel Outlines Industrial Outlook
CHICAGO, IL- In this UPDATE to yesterday’s story, Chris Zubel, the new industrial director of CBRE Chicago, says the recovery is happening across primary and secondary markets.
Harrison Buys Brooklyn Student Housing
CHICAGO, IL- In this UPDATE to yesterday’s story, Brian Thompson, the senior vice president, explains to GlobeSt.com the Chicago firm’s strategy to purchase recession-proof properties such as student housing.
NexCore closes 2012 on High Note
DENVER-The local developer sees an increase in outpatient centers, especially in light of the changing healthcare reform landscape.
Thursday, March 28, 2013
Improvement for Office, But Forecast Remains Slow Growth
National
Improvement for Office, But Forecast Remains Slow Growth
As part of the 67th Annual Review and Forecast in Real Estate Forum’s February/March 2013 issue, the editors conducted a sector-by-sector review of the nation’s property markets. Here’s a look at the slow-growth office environment.
Expert: Maybe Too Much Development in Multifamily
National
Expert: Maybe Too Much Development in Multifamily
LOS ANGELES-At the Sklar Kirsh LLP Reception last night, partner Andrew Kirsh, who moderator of the development panel at RealShare L.A. yesterday, gave us a few more thoughts on development and demand.
GlobeSt.com Readers: Who Needs the GSEs?
National
GlobeSt.com Readers: Who Needs the GSEs?
WASHINGTON, DC-A surprising percentage, 44%, of respondents think the government has no business in what should be a private market endeavor.
Wednesday, March 27, 2013
BioMed Buys Wexford in $640M Deal
National
BioMed Buys Wexford in $640M Deal
BALTIMORE, MD-The REIT also priced a public offering of 15 million shares of its common stock with an eye to reaping gross proceeds of $321 million.
ARCP Bumps Up Offer for Cole Credit III
National
ARCP Bumps Up Offer for Cole Credit III
NEW YORK CITY-The offer to buy CCPT III, now valued at $9.7 billion, assumes “a merged entity” of CCPT III and Cole Holdings, ARCP’s Schorsch wrote in a letter Wednesday.
Midtown Sale Yields $261.5M for Office and Retail Building
NEW YORK CITY-The property’s allure is boosted by having played host to an upscale clothing retailer for 75 years.
PART I: Women a "Great Fit" For CRE
National
PART I: Women a "Great Fit" For CRE
CHICAGO-In part one of this week’s two-part interview with Beth Machen, 2013 President of the Institute of Real Estate Management, we learn how she arrived in the commercial real estate industry.
Auction.com Predicts Continued Growth in Coming Quarters
National
Auction.com Predicts Continued Growth in Coming Quarters
After slow 2012, quarterly forecast predicts improved commercial markets for the rest of 2013
Tuesday, March 26, 2013
Housing Prices Gain Across the Board
National
Housing Prices Gain Across the Board
NEW YORK CITY-The latest Case-Shiller report reveals the highest increase since pre-recession levels.
Blackstone Draws $500M in NJ Pension Funds
National
Blackstone Draws $500M in NJ Pension Funds
TRENTON, NJ-The biggest chunk of the latest $900 million in state pension fund investments will go to Blackstone’s new Asia-Pacific real estate fund, a total of $500 million.
HUD's Hospital Refi Program Off to Strong Start
National
HUD's Hospital Refi Program Off to Strong Start
WASHINGTON, DC-The hospital finance program has been around for twenty years but it wasn’t until February that the agency released regulations for its refi component, Walker & Dunlop's Michael Vaughn tells GlobeSt.com's Erika Morphy.
Update: Roundtable Weighs in on Tax Proposal
WASHINGTON, DC-The partnership tax proposal could be very good or very bad, Roundtable's Jeff DeBoer tells GlobeSt.com's Erika Morphy. It all depends on what else the committee puts in place.
Monday, March 25, 2013
Trepp: Outlook for CMBS Market Remains Optimistic
National
Trepp: Outlook for CMBS Market Remains Optimistic
Trepp LLC reports that with spreads tightening, delinquency rates falling and new issuances rising, the outlook for the CMBS sector is bullish. In fact, investors expect $80 billion or more in new issuances this year.
Congress Eyes CRE Partnership Rule Changes
National
Congress Eyes CRE Partnership Rule Changes
WASHINGTON, DC-It doesn’t have the same dramatic flair as the carried interest debate, but the proposal to realign partnership rules could have a significant impact on real estate partnerships.
GSE Fees Targeted in Senate Budget
WASHINGTON, DC-Meanwhile multifamily borrowers are waiting on tenterhooks to see what will happen to the program's budget.
Eastern Union Taps Banking Exec For New Credit Unit
NEW YORK CITY-The company has established a new division to bring lenders and borrowers closer together.
Friday, March 22, 2013
ARCP Fires Back at Cole Letter
National
ARCP Fires Back at Cole Letter
NEW YORK CITY-A statement says Cole Holdings’ letter to business partners contains “inaccuracies and omissions” that distort “the true nature” of ARCPs unsolicited bid for CCPT III.
Heat Map Shows Foreclosure Hot Spots
National
Heat Map Shows Foreclosure Hot Spots
IRVINE, CA-In an UPDATE to this morning’s story, RealtyTrac’s interactive heat map points out the states, counties and cities where foreclosure flare-ups are occurring.
Mayo Wants its Hometown to be Global Destination
National
Mayo Wants its Hometown to be Global Destination
ROCHESTER, MN-Mayo Clinic officials are seeking assistance from the State of Minnesota to help transform its home turf into a city and global destination.
Construction Stall Helps Office Vacancies
LOS ANGELES-New research from CBRE shows that most major-market vacancies dipped or at least remained flat in Q1. Depending on the market, the boost has been fueled at least in part, by job creation.
Thursday, March 21, 2013
Auction Site Accelerates Leasing Process
National
Auction Site Accelerates Leasing Process
LOS ANGELES-In an UPDATE to this morning’s story, EverestAuctions.com’s founder Steve Winger tells GlobeSt.com how users experience the leasing site.
Perspective Is Important, Says NAIOP Chair Reilly
WASHINGTON, DC—In this UPDATEto our exclusive interview, Eugene Reilly, 2013 chair of NAIOP and CEO of the Americas for Prologis, discusses DC and CRE, and why it's important to nurture tomorrow's leaders.
Mack-Cali Realty Enters DC with $263M Buy
ARLINGTON, VA-In a JV with a fund advised by UBS Global Asset Management the REIT has acquired the property from Avalon Bay.
$1B-Year Ahead for ARC Healthcare Trust?
National
$1B-Year Ahead for ARC Healthcare Trust?
NEW YORK-ARC Healthcare Trust has ambitious plans for 2013.
New NAIOP Chair Has Big-Ticket Agenda
New chairman Gene Reilly brings a lot to the role, but being head of a national organization also brings with it its own set of challenges.
Leasing Auction Portal Launches
LOS ANGELES-EverestAuctions.com is the first auction site designed to facilitate the auction of leased commercial real estate space.
Wednesday, March 20, 2013
Hilco Reveals Its List of Hostess Assets
National
Hilco Reveals Its List of Hostess Assets
CHICAGO-Following up on this morning's breaking news, Hilco has provided GlobeSt.com with a complete list of the assets around the country it is marketing on behalf of Hostess. Here is the list.
DTTL's O'Brien Speaks On New Global Role
CHICAGO, IL- He says Chicago has helped him forge the skills and relationships needed to lead their global real estate group.
Schorsch Makes $9B Pitch for Cole Credit III
National
Schorsch Makes $9B Pitch for Cole Credit III
NEW YORK CITY-In a letter to the board of Cole Credit Properties Trust III, ARCP’s Schorsch says the proposal represents “a strength-for-strength merger of complimentary portfolios.
CRE Has Grown Up - Finally
ORANGE COUNTY-The commercial real estate industry is no longer a “boy’s club,” avers Heidi Hendy, founding principal of H. Hendy Associates, in our latest Women in CRE Wednesdays interview.
Schorsch Makes $9B Pitch for Cole Credit III
NEW YORK CITY-In a letter to the board of Cole Credit Properties Trust III, ARCP’s Schorsch says the proposal represents “a strength-for-strength merger of complimentary portfolios.”
Hilco Reveals It's List of Hostess Assets
CHICAGO-Following up on this morning's breaking news, Hilco has provided GlobeSt.com with a complete list of the assets around the country it is marketing on behalf of Hostess. Here is the list.
Sweet Deal: Hilco Tackles 61 Hostess Assets
National
Sweet Deal: Hilco Tackles 61 Hostess Assets
CHICAGO-In this UPDATE to our original story, more than 60 non-branded assets around the country are now on the block, and the executives at Hilco tell GlobeSt.com’s John Salustri that that number will double shortly.
Tuesday, March 19, 2013
GSA's Perspective on the Frozen Footprint
National
GSA's Perspective on the Frozen Footprint
WASHINGTON, DC-As JLL's Chris Roth sees it, "Freeze the Footprint" takes GSA back to its original mandate of de-risking leasing for the government. An UPDATE to this morning's story.
Gramercy Exits CRE Finance, Elects REIT Status
National
Gramercy Exits CRE Finance,
Elects REIT Status
NEW YORK CITY-The company closed Monday on the sale of management and servicing agreements for three CDOs to CWCapital.
Gramercy Exits CRE Finance, Elects REIT Status
National
Gramercy Exits CRE Finance, Elects REIT Status
NEW YORK CITY-The company closed Monday on the sale of management and servicing agreements for three CDOs to CWCapital.
Activity, Prices Up in Major Markets
Redfin sees 13 percent February price jump in 19 major markets, Re/max sees similar trends in 52 markets.
BlackRock to Reduce Workforce by About 300
NEW YORK CITY-In a continuing reorganization of the money management giant, BlackRock Inc. is cutting about 300 jobs or approximately 3% of its workforce.
Freezing the Federal Footprint
National
Freezing the Federal Footprint
WASHINGTON, DC-Kurt Stout, Government Solutions leader for Colliers International, explains what the Fed's Great Real Estate Cutback is going to mean to the industry.
Monday, March 18, 2013
Avison Young Opens New Office in San Diego
National
Avison Young Opens New Office in San Diego
SAN DIEGO—Leading Canadian commercial real estate firm opens its 22nd location outside Canada and sixth office in Southern California. Jerry Keeney becomes a principal, coming from Cassidy Turley.
DTTL's O'Brien Speaks On New Global Role
National
DTTL's O'Brien Speaks On New Global Role
CHICAGO, IL- He says Chicago has helped him forge the skills and relationships needed to lead their global real estate group.
Investor Takes Over Multifamily in Default
INDIANAPOLIS, IN- Most Wall Street investors cut their losses when a multifamily property defaults, but at least one has decided to take over.
Friday, March 15, 2013
Poll: The Sequestration is Good. Really
National
Poll: The Sequestration is Good. Really
WASHINGTON, DC-The majority of respondents to GlobeSt.com's reader poll say that the cuts under sequestration need to happen.
Deloitte Names O'Brien To Lead Global Real Estate
NEW YORK CITY-O’Brien, who will retain his role as US real estate leader, has been with the firm for nearly 30 years.
At Long Last, the LTACH Moratorium Ends
DALLAS-With the federal government's moratorium on long-term care hospitals at an end, companies such as local Cornerstone Healthcare Group are planning – and building.
Thursday, March 14, 2013
Fannie Mae Prices $904M REMIC With 7-Year Yield
National
Fannie Mae Prices $904M REMIC With 7-Year Yield
WASHINGTON, DC-Like Freddie Mac, Fannie Mae is tweaking its multifamilty securitization model to meet marketplace demand.
Anschutz Co. To Retain Ownership of AEG
National
Anschutz Co. To Retain Ownership of AEG
DENVER-Tim Leiweke, who has served as president and CEO of AEG since 1996, will be leaving the company by mutual agreement.
What Do Today's Creative Tenants Want?
National
What Do Today's Creative Tenants Want?
The growth of the tech, media and other non-traditional industries is also fueling demand for creative office space in markets across the country. Industry Partners’ Jim Jacobsen provides some insight into what these firms are looking for.
Occupancy Costs Will Start Growing in U.S.
CHICAGO, IL- In this UPDATE to Tuesday’s story, DTZ analysts explain how occupancy costs in the U.S. will finally reverse a long-term trend, and why soaring costs in Asian cities may moderate.
Wednesday, March 13, 2013
Trepp and ICSC Partner to Create New Shopping Center Research
National
Trepp and ICSC Partner to Create New Shopping Center Research
NEW YORK CITY-Members of the shopping center trade organization will now have access to customized reports.
Women Can Move to the Top
National
Women Can Move to the Top
LOS ANGELES-Jana Turner, principal of RETS, a commercial real estate recruitment firm, has moved through the ranks of the commercial real estate industry. Through her journey, she has noticed that the field has been increasingly more welcoming to women – a good sign moving forward.
Another Retail Strategy for Healthcare
National
Another Retail Strategy for Healthcare
CELEBRATION, FL- Gary Paquin with Paquin Healthcare Cos. suggests a retail strategy for healthcare facilities in addition to placing healthcare facilities in retail locations.
Distressed Assets = 43% of Sales
IRVINE, CA-A recent Realty Trac report shows that the number of properties in some stage of foreclosure or REO decreased 6% in 2012 over 2011.
Tuesday, March 12, 2013
Arbor Branches Out into CMBS
National
Arbor Branches Out into CMBS
UNIONDALE, NY-The lender has tapped Credit Suisse veteran Todd Hirsch to lead a securitization initiative as well as the company’s syndication platform.
Oaktree and Partner Acquire
$240 M East Coast Portfolio
LOS ANGELES—First States Investors B is the seller of 40 buildings located in eight states. The properties are 90% leased to Wells Fargo.
Young Broker Swears by Designations
MIAMI BEACH-Douglas Elliman luxury sales director Chad Carroll says the letters after the name don’t really matter. Not as much as the training that they represent.
Monday, March 11, 2013
Zuckerman Steps Down as BXP CEO; Successor Named
National
Zuckerman Steps Down as BXP CEO; Successor Named
BOSTON-The REIT’s cofounder will remain as executive chairman; CRE veteran Owen Thomas is succeeding him in the CEO’s chair next month.
Willy Walker: Why I am Surprised by the FHFA's Initiative
National
Willy Walker: Why I am Surprised by the FHFA's Initiative
WASHINGTON, DC-The Federal Housing Finance Agency is planning on trimming the GSEs' multifamily finance mandate by 10%. Read why Walker & Dunlop's CEO doesn’t think it is a good idea.
Friday, March 8, 2013
Have Businesses Learned (Finally) to Ignore Washington?
National
Have Businesses Learned (Finally) to Ignore Washington?
WASHINGTON, DC-The election. The fiscal cliff. The last-minute decision not to default on the debt. Sequestration. It's all becoming white noise to Main Street.
Coming Soon to the Caymans: Medical Tourism
National
Coming Soon to the Caymans: Medical Tourism
ST. LOUIS-Locally based Ascension Health Alliance partners with Narayana Hrudayalaya Hospitals of India to develop a medical center directed toward US patients.
Unemployment Virtually Flat at 7.7%
WASHINGTON, DC—New jobs numbers are out for February, and at 7.7%, unemployment is only a hair down from January numbers.
Loans Paying Off at Maturity Still Above 60%
NEW YORK CITY-According to Trepp, the rate last month—61.8%--is well above the 12-month average. But it’s also the fifth time in six months that the rate has exceeded 60%.
Thursday, March 7, 2013
Optimism Pervades Amid Steady Uptick
National
Optimism Pervades Amid Steady Uptick
PHILADELPHIA-As the year progresses, "a rising tide will lift all ships" even as some sectors lag, moderator Phil Rosenfeldt said at Thursday's RealShare Philadelphia.
Montecito and Partner, Deploying Capital in MOB Space
National
Montecito and Partner, Deploying Capital in MOB Space
SANTA BARBARA, CA-Montecito joins forces with Berkshire Realty to form MMAC Berkshire LLC, which plans to spend between $700 million and $1 billion on acquisitions and developments.
Are You Ready for the Investment Scramble?
NEW YORK CITY-The tricky thing about an improving CRE market is getting in at the right time. GlobeSt.com continues its look at the recovering market.
Wednesday, March 6, 2013
Who's Next for Vornado?
National
Who's Next for Vornado?
NEW YORK CITY-Fascitelli’s retirement has started the rumor mill churning. But there’s one obvious choice everyone seems to forget.
Multifamily Finance Readies for a Haircut
WASHINGTON, DC-The GSEs' multifamily business volume will see a 10% reduction in 2013. Can the industry take it? Actually, yes.
CRESA NY's Addeo: Hard Work Pays Off
NEW YORK CITY-There's no difference if you’re male or female in the commercial real estate industry, because hard work will take you far, says CRESA New York’s vice president Jamie Addeo.
Tuesday, March 5, 2013
Avison Young Lands Another Senior Broker
National
Avison Young Lands Another Senior Broker
NEW YORK CITY-Growing nationally, the firm makes its second big hire in two weeks, marking C&W’s fourth recent defection.
FHFA Eyes Dramatic Revamp for GSEs
National
FHFA Eyes Dramatic Revamp for GSEs
WASHINGTON, DC-The proposed changes include a scale back in multifamily support.
Medical Real Estate Firm Eyes Telemedicine as Opportunity
National
Medical Real Estate Firm Eyes Telemedicine as Opportunity
PARADISE VALLEY, AZ-Imaging Advantage, located in the Paradise Valley Medical Plaza, is part of the growing field of telemedicine; a field that could impact medical real estate.
Monday, March 4, 2013
REITs Dominate Strong Investment Climate
National
REITs Dominate Strong Investment Climate
NEW YORK CITY-According to RCA’s Bob White, investors came out swinging in the early months of 2013. And guess what? REITs are leading the pack.
Friday, March 1, 2013
Growth in Time of Uncertainty
National
Growth in Time of Uncertainty
NEW YORK CITY-Barring major stupidity inside the beltway, you can expect more capital flows and even a “more serious foray” into development.
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