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CMBS
Cash Flow More Volatile but Still Stable: Fitch CMBS Study
Aug. 18, 2008
Led by the retail and multi-family sectors, a measure of CMBS investment risk has edged upward for the first time in four years, a study by Fitch Ratings has concluded.
Inland American Sees Opportunity in RE Debt
Aug. 05, 2008
Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months.
RayTorto CBRE’s Torto Sees CRE Correction, No Catastrophe
Aug. 04, 2008
More pain is in store for the U.S. commercial real estate market  for the rest of the year, but reports of a meltdown are greatly exaggerated. That is the conclusion of CB Richard Ellis Inc.’s global chief economist, Raymond Torto, in a mid-year report. Difficulties in areas ranging from the job market to CMBS will take time to resolve. Still, the economy should avoid the severity of the doldrums of a generation ago, Torto argued.
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Mortgage Banking
Shares of Fannie, Freddie Down Again
Aug. 20, 2008
Shares of Fannie Mae and Freddie Mac plummeted yet again today on renewed fears of the possibility that the government may be forced to bail out the beleaguered institutions.
U.S. Hotel Deals Down 81 Percent Mid-2008: JLL Report
Aug. 20, 2008
The volume of U.S. hotel transactions for the first six months of 2008 plunged 81 percent from the year-ago period, to $6 billion, according to a Jones Lang LaSalle Hotels. The firm based the conclusion on its proprietary database, which tracks transactions $10 million deals and above. In the first quarter 2008 transaction volume was relatively stronger at $3.4 billion.
Douglas Emmett Nabs $365M Loan
Aug. 19, 2008
Douglas Emmett Inc. has announced that it has obtained a non-recourse $365 million term loan to refinance the bridge loan that was obtained in connection with the REIT's acquisition of a six-office portfolio on March 26, 2008. This new loan is secured by the six-office portfolio.
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Investment Banking
Financing for Suburban Boston Portfolio Paves Way for Repositioning
Aug. 08, 2008
A financing deal valued at $27 .4 million has closed for a group of five office buildings totaling 226,000 square feet in Needham, Mass.
AMB Ramps Up Industrial Property Presence in Mexico with Accion Takeover
July 25, 2008
AMB Property Corp., through an affiliate, has acquired the remaining 42 percent of G. Accion S.A. de C.V. that it had not previously owned. The purpose of the transaction was, according to AMB, to create a fully integrated platform from which the company will continue to develop, lease, acquire and operate industrial real estate in Mexico.
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Institutional Investment
Pacific Office Properties Nabs $195M Portfolio
Aug. 21, 2008
Pacific Office Properties Trust Inc. and an institutional co-investor have acquired a portfolio of seven Southern California office complexes for $195 million. The combined properties contain more than 1 million leasable square feet across 15 office and flex buildings.
Experts: Lehman RE Sale Could Be Major Opportunity
Aug. 19, 2008
Lehman Brothers Holdings Inc.’s sale of its commercial real estate assets may entice opportunity funds with the patience to wait for a positive turn in the real estate cycle, according to two real estate professionals.
CalPERS Averts Engineering Union Lawsuit
Aug. 15, 2008
The California Public Employees' Retirement System came within inches of being sued by the Professional Engineers in California Government this week, but managed to avoid litigation after hours of talks between the two organizations on Thursday.
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REITs
Parkway Pockets $25M in Sale of St. Petersburg Office
Aug. 20, 2008
Parkway Properties Inc. has concluded the $26 million disposition of Wachovia Plaza, a 186,000-square-foot office asset in St. Petersburg, Fla., that the company has owned since 1998.
Ramco-Gershenson Adds Shopping Center to Florida JV
Aug. 19, 2008
Ramco-Gershenson Properties Trust has sold the 330,000-square-foot Plaza at Delray shopping center in Delray Beach, Fla., to its $450 million joint venture with the state of Florida, which is advised by Heitman L.L.C.
Liberty Takes Class A Florida Office
Aug. 18, 2008
Liberty Property Trust is expanding its portfolio in the Sawgrass International Corporate Park in Sunrise, Fla., with the acquisition of a 107,000-square-foot Class A office building. The REIT bought the building at 13621 NW 12th St. from Real Estate Capital Partners, but did not release the purchase price. The building is fully leased by UnitedHealthcare.
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Net Leasing
Grubb & Ellis Realty Investors Nabs 199,000SF Atlanta Office
Aug. 21, 2008
One Live Oak, a 199,000-square-foot office property in Atlanta, has just been snapped up by Grubb & Ellis Realty Investors L.L.C., which made the purchase on behalf of tenant-in-common investors. Crescent Real Estate Equities was the seller, having shelled out $31 million to acquire the property from TMW Real Estate Group in late 2004.
Equity International Brazilian Logistics Investment
Aug. 20, 2008
Equity International, the privately-held investment company focused on real estate-related businesses operating outside of the United States, has announced the closing of a $100 million commitment in AGV Logística, a privately-held logistics company based in Sao Paulo, Brazil.
ProLogis Expands Industrial Portfolio in Mexico
Aug. 20, 2008
ProLogis plans to develop approximately 500,000 square feet of industrial warehouse space in Ciudad Juarez, Mexico. The firm is now beginning phase one of the development at ProLogis Park Centro Industrial Juarez in Ciudad Juarez.
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Lending
Omega Opportunity Fund I to Launch, Focus on Quality Development Projects
Aug. 20, 2008
Omega Commercial Finance Corp. is creating and will soon launch Omega Opportunity Fund I L.L.P., it has announced.
Apollo to Pursue Additional RE Debt Acquisition
Aug. 19, 2008
There's little doubt that debt, besides being the raw material of the real estate crunch, is also a pretty hot commodity in some ways, as property values decline and loan-to-value ratios shift. In recent weeks, as reported by CPN, such investors as the new Investcorp Real Estate Credit Fund L.P. and Inland American Real Estate Trust have been eager to snap up real estate debt.
PNC Finances $354M for Trio of California Projects
Aug. 19, 2008
PNC has provided a total of $354.4 million in financing to three separate projects in California.
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220-Acre Mixed-Use in Works Near University of Missouri
August 20, 2008
By Barbra Murray, Contributing Editor -- A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project. Forum Development Group, the owner of the land, recently wrapped up...

Icahn Nabs AT&T's Dallas HQ in Sale-Leaseback
August 20, 2008
By Tonie Auer, Southwest Correspondent -- Transferring its headquarters from San Antonio to Dallas, telecom giant AT&T Inc. has moved into a 37-story high-rise and sold the building in a sale-leaseback deal to Icahn Enterprises for an undisclosed amount. The...

W.P. Carey Closes $58M Sale-Leaseback in Germany
August 20, 2008
By Barbra Murray, Contributing Editor -- New York City-headquartered W.P. Carey, acting through its publicly held non-traded REITs CPA(R):15 and CPA(R):17 - Global, has completed a sale-leaseback transaction in Germany with U.K.-based automotive supplier Wagon Plc. The properties involved are...

Och-Ziff, Kolter in $1B Southeast Residential JV
August 20, 2008
By Scott Baltic, Contributing Editor -- New York-based Och-Ziff Capital Management Group and Kolter Group of West Palm Beach, Fla., have announced the formation of a $1 billion joint venture that will target residential properties in the Southeast that are...

REal Talk with Adam Perrotta-Tuesday
August 19, 2008
By Adam Perrotta, News Writer --In the latest example of a firm looking to snap up debt in the wake of the credit crunch, Apollo Real Estate Advisors has pumped up funding for its debt investment fund to $930 million....

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...