Zero Hedge has a post up on Goldman Sachs’ outlook for CRE REITs. Long story short – Goldman is not positive. Zero Hedge refers to REITs as “arguably the most overbought (by a metric mile) sector” in the stock market and cites a few key points from the Goldman forecast: Cautious coverage view: we expect [...]
Sep
30
CBRE Deleted My Account. Seriously?
This is unbelievable. I just got a call a few minutes ago from one of the listing brokers of the property outlined in my post from yesterday. He politely asked that I take down their marketing brochure and was nice enough to state that he is fine with the fact that I posted my thoughts [...]
Sep
29
Inland Empire Shopping Center For Sale – Calling All Investors Seeking To Lose Money
The package embedded below (see update below) just came across my desk today. It is an offering for a shopping center in Moreno Valley, CA (Inland Empire). The property consists of three ground leased fast food pads (El Pollo Loco, Del Taco and Wendy’s) as well as approximately 22,670 square feet of retail shops in [...]
Sep
29
Blue Chip Financial Forecasts
This report has way too much data to summarize but is interesting to read to see the predictions for several key rates and economic indicators. I think the report is embargoed until October 1st but I was told posting was ok, besides, nobody complies with embargoes anyway. BCFF1009email
Sep
28
Looming Retail Bankruptcies?
Below is an excerpt from an article posted today at About.com. There are two different groups of experts who agree with that position and are predicting that a second wave of economic fallout will impact the retail industry in the not too distant future. Audit Integrity, a Los Angeles research services company, released the results [...]
Sep
25
Distressed Opportunity of the Week
I presume investors will be lining up to get a shot at this beauty. The good news is that the property is zoned M-1 (light manufacturing) so if you can’t stabilize with the currently approved use you can convert the building into a manufacturing facility making the products that will be used in other buildings [...]
Sep
25
Question of the Day
Take a look at the image below. What do you think it is? (Answer below) Answer: A map of every McDonald’s in the United States. Judging by the lack of density in the western half (excluding California, Oregon and Washington) it looks like there may be some development opportunities in places like Colorado, Utah, Arizona, [...]
Sep
24
Citi Considering Reducing Retail Branch Count
Citigroup may be looking to sell or shut down some of its 1,001 retail bank branches in the U.S. and Canada. Citi wants to focus on their core markets of New York, Washington, Miami, Chicago, San Francisco and Los Angeles. DealBook has more here. Needless to say, this is not good news for capitalization rates [...]
Sep
23
S&P DowngradeS 4 Month Old Re-REMIC
Just saw this post on Zero Hedge about a downgrade of a recent Re-REMIC issue by Standard & Poor’s. re-REMIC’s are repackaged mortgage-backed securities of a supposedly more secure pedigree as they were to have been constructed of securities identified to be of better quality and thus less likely to default. Now, just 4 months [...]
Sep
23
Gate Tower Building
Below is an email I received from a friend this morning. Nothing newsworthy here but it is quite interesting to see a freeway run directly through the middle of a high-rise office building. I wonder if there is much ambient noise in the adjacent office suites. Floors 4 and 8 must be the low rent [...]
Sep
22
CREOBA – Commercial REO & BPO Classes
These guys (CREOBA) never cease to amaze me. They are now offering commercial REO certification courses. Certified by whom, I have no idea. Do the banks know about this? Doubtful. Will they recognize the just-created designation? Doubtful. Do the CREOBA members organizing or leading these seminars know what they are talking about? Doubtful. I hate [...]
Sep
21
Comments on Commercial Real Estate Values
Today, Moody’s Investors Services posted its most recent Moody’s/REAL Commercial Property Price Index. The results show continued price declines in US commercial real estate across the board. According to the report, CRE values are now 30.8% below those of 1 year ago and 38.7% below peak levels of October 2007. I found this article published [...]