That is a pretty broad question. I can’t say for sure for every single product type nor do I really care about CAP Rate trends for multi-tenant office/industrial/multi-family/etc. buildings in the midwest/south/east/etc. I can make an intelligent guess and say no, CAP Rates are not heading back down, they are continuing to rise – industry-wide. [...]
This article published on Friday, February 26th, 2010 is quite possibly one of the worst articles you will ever read discussing the merits of a sale/leaseback transaction. I feel sorry for the brokers quoted in the publication. It feels like the author chopped up their quotes and used them where she thought best rather than [...]
I just had to post this. I just closed a Fresh & Easy ground lease that was purchased by Fresh & Easy on 12/31/09. Earlier today, we sent out an email blast announcing the sale of the property. I received the following email (with his attorney cc’d as well) from UK transplant Tom Scorer, Real [...]
This morning, CoStar published an article entitled Institutional Investors Throwing Big Money Around Class A Quality Retail Property. The article highlights several recent large transactions that have taken place and interviews guys from CBRE, Marcus & Millichap and Jones Lange LaSalle for opinions. A few of the points/quotes caught my attention and I thought I’d [...]
Bill Gross, PIMCO’s revered managing director, has just published his most recent investment outlook. In it, he calls the end of the recent market rally and warns of a necessity to come to grips with the fact that a new normal is headed our way. The closing sentences sum up his point nicely and he [...]
Standard & Poor’s had downgraded 15 classes of bonds backed by a $425 million loan secured against the Four Seasons Hotel in New York and 3 other luxury resort hotels. The action was triggered by a drop in cash flow which was 46% below S&P expectations. Surely, the expected cash flow figure had already been [...]
It looks like retailers are not faring so well after all. From an article published today at DallasNews.com titled “Speakers at Retailing Summit in Dallas offer sobering assessment” (emphasis mine):
Retailers shouldn’t expect to see the pre-recession shopper in this economic recovery, and a shakeout with store closings is still ahead, speakers said Thursday at the [...]
I just read a post on the CRE blog Net Lease Nation talking about the upcoming holiday season. Apparently, Fitch Ratings is bullish on the retail sector:
“Many companies across Fitch’s U.S. retail coverage have been managing inventory positions well. Gross margins have rebounded for those companies in the discretionary categories that were hit particularly hard [...]
Lately I have been receiving a high volume of calls from appraisers. Appraiser calls are nothing new. Normally, I receive a handful a month calling to ask questions about properties I have sold or asking for my opinion on a particular property they are trying to value. Now, I am receiving several appraisal calls per [...]
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 relative [...]
