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newsletters

RREEF America Jumping into New-Fangled REIT Arena

March 29, 2012

Costar… Possibly just weeks away from being sold, RREEF America LLC isn’t sitting around waiting to find out who its new owner is. The leading real estate investment manager is planning to form a new REIT to be called RREEF America Property Income Trust Inc. and hold an initial public stock offering to raise up to $2.5 billion. The new property income REIT will invest primarily in properties, but also in real estate debt and publicly traded REIT stocks, although… Go here to see the original: RREEF America Jumping into New-Fangled REIT Arena 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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Real Estate, Restaurant Franchise Growth Starting To Heat Up

March 29, 2012

Costar… There are signs of an improved outlook in certain economic areas where franchises are traditionally strong performers, such as the restaurant and business and personal services industries, according to the International Franchise Association (IFA) and GE Capital Franchise Finance. The IFA released its first quarterly update to its economic outlook prepared by IHS Global Insight in December 2011. IFA is updating its Franchise Business Economic Outlook… Read more: Real Estate, Restaurant Franchise Growth Starting To Heat Up 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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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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CapLease Receives 1M-SF Nestlé Renewal

March 27, 2012

Costar… CapLease, Inc. (NYSE: LSE) executed a lease renewal with Nestlé Holdings, Inc. for its 1,045,153-square-foot industrial property at 555 Nestle Way in Macungie, PA. The lease will commence on January 1, 2013 for a term of five years. Contract rent is $4.40 per square foot, increasing 3% per annum. Nestlé’s distribution building was constructed in 1994 on 86 acres in the Lehigh Valley Industrial submarket of Philadelphia. CapLease… Read more: CapLease Receives 1M-SF Nestl

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BOMA 360 Grows to 420

March 26, 2012

Costar… A total of 420 buildings in 55 markets have now received the coveted BOMA 360 designation, which recognizes commercial properties for excellence in overall building operations and management. BOMA International went on to name the top five companies, each with 20 or more commercial buildings across the country to have reached BOMA 360 status:CBRE – 59 buildingsBrookfield Properties – 31 buildingsPiedmont Office Realty Trust – 24 buildingsParmenter… Read more here: BOMA 360 Grows to 420 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Shoppes at Branson Hills Trade for $50.6M

March 26, 2012

Costar… Inland Real Estate Corporation 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’s, Best Buy… Read this article: 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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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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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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GSA Buys Columbia Plaza Office Bldg. for $99.6M

March 21, 2012

Costar… The U.S. General Services Administration acquired the 511,500-square-foot Columbia Plaza Office Building in Washington, DC, from a partnership between Normandy Real Estate Partners and Westbrook Partners. The property traded for $99.59 million or $195 per square foot. The 15-story structure at 2401 E. St. NW was built in 1974 and renovated in 1999. The U.S. Department of State’s Diplomacy in Action agency has occupied the building since 1992 under… Read the rest here: GSA Buys Columbia Plaza Office Bldg. for $99.6M 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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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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Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet

March 7, 2012

Costar… With an $87.6 million loan coming due this August, Sydney, Australia-based Real Estate Capital Partners USA Property Trust may have dodged a refinancing bullet on a two-building complex in Bedford, MA, but may still take a hit on a separate office campus in Parsippany, NJ. Real Estate Capital Partners USA signed RSA Security to a 328,232-square-foot, 12-year lease renewal in the two buildings at 174 and 176 Middlesex Turnpike (Bldgs 3 and 4) in… Here is the original post: Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet 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 4 – 11

March 6, 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. Old Wholey’s ‘Fish’ Building Slated For Conversion to Office… Follow this link: In The Pipeline: CoStar Development & Construction News for March 4 – 11 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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