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News

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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Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P

March 29, 2012

Costar… With new CEO and ‘CIO’ officers at the helm, Hewlett Packard (HP) is realigning its organizational structure – a portion of which has it taking global real estate decision-making away from its financial managers and putting it into the hands of its techies. The move likely means that the real estate consolidation the company said was largely completed last year may not be over. HP’s global real estate footprint encompassed nearly 70 million… Go here to see the original: Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P 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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Goodrich Corp Inks 105,000-SF Office Lease

March 28, 2012

Costar… Goodrich Corporation, a supplier of aerospace and defense products, signed a 104,662-square-foot lease at 2727 E. Imperial Hwy. in Brea, CA. The company is relocating and consolidating its two facilities in Monterey Park and Diamond Bar. The 104,662-square-foot office property is situated on 5.4 acres within the Brea Imperial Center in Orange County. With the addition of Goodrich, the center is now 100 percent occupied. Liz Hurley with Transwestern… View post: Goodrich Corp Inks 105,000-SF Office Lease Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Rockpoint Trades Parc 55 Wyndham for $235 Million

March 28, 2012

Costar… Rockpoint Group LLC sold Parc 55 Wyndham at 55 Cyril Magnin St. in San Francisco to New York-based The Blackstone Group for $235 million, or $231,984 per room, in a distress sale. The 700,985-square-foot hospitality building is located blocks from Union Square. The property includes 1,013 rooms and was awarded an Energy Star label for the last four years consecutively. No brokers were mentioned. Please reference CoStar COMPS #2279499 for more… Go here to read the rest: Rockpoint Trades Parc 55 Wyndham for $235 Million 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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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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UPDATE: Shoppes at Branson Hills Trade for $50.6M

March 26, 2012

Costar… Inland Diversified Real Estate Trust, Inc. has closed on its acquisition of The Shoppes at Branson Hills, a 447,725-square-foot regional power center located in Branson, Missouri for an aggregate price of $50.6 million. The shopping center is located on Highway 65 at Branson Hills Parkway in the popular family destination town of Branson. The existing buildings are 100 percent leased at time of sale, anchored by national retailers including Kohl… Follow this link: UPDATE: Shoppes at Branson Hills Trade for $50.6M 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 18-24)

March 23, 2012

Costar… This week’s People of Note includes the following markets: Charlotte, Chicago, Dallas/Fort Worth, New York City, Retail, San Francisco and South Florida. DALLAS/FORT WORTH Local Investment Sales Broker Moves to Cushman & Wakefield By CoStar Research Scot Farber joined Cushman & Wakefield in Dallas where he will focus on the sale of office and industrial properties as part of the firm’s investment sales group. Farber, Read more from the original source: CoStar’s People of Note (March 18-24) 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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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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Baker Donelson Bldg in Downtown Nashville Sells for $47.1M

March 21, 2012

Costar… Sun Life Financial Services, an international financial services company, has acquired the 11-story Baker Donelson Building at 211 Commerce Ctr. in downtown Nashville, TN from The Mathews Company in a transaction totaling $47.13 million, or approximately $205 per square foot. The property was constructed in 2000 and totals 229,536 square feet of Class A office space . The building was 93.8 percent occupied at the time of the sale, and is currently… Read the original: Baker Donelson Bldg in Downtown Nashville Sells for $47.1M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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3PL Global Inks 270,764-SF Deal in Carson

March 20, 2012

Costar… In one of the largest industrial deals during the first quarter, 3PL Global LLC signed a 270,764-square-foot full-building lease at 2211 E. Carson St. in Carson, CA, in the ProLogis South Bay Distribution Center. ProLogis developed the LEED Silver spec project known as Building 5 last year. It is on 12.4 acres about 20 miles south of downtown Los Angeles. The third-party logistics provider is currently headquartered at Airport Corporate Center… View original post here: 3PL Global Inks 270,764-SF Deal in Carson 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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Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy

March 15, 2012

Costar… Distressed trading volume has stabilized but continues to remain at elevated levels, increasing by approximately 2% last year over 2010. However, a surge in non-distressed property trading driven by improving economic conditions has begun to mitigate its impact on commercial real estate pricing levels overall. According to CoStar Group data, the volume of distressed transactions in December 2011 remained well above the average monthly volume for… See the original post here: Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy 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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Auction Sales Keep Going, Going, Going Up

March 15, 2012

Costar… One of the clear winners so far in the post Great Recession market are commercial real estate auctioneers. The dollar volume of CRE properties sold via auction jumped 33% from 2010 through 2011. Auction sales, excluding non-arms length foreclosures, jumped from $2.52 billion in 2010 to $3.35 billion, according to data from CoStar COMPs. It should be noted that these numbers may under-report the amount and volume of auction-based sales activity… Link: Auction Sales Keep Going, Going, Going Up Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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