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 [...]
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 [...]
Zero Hedge has a great post up about the offering of a $32.3 million interest in a $61.2 million senior mortgage loan secured by a 3-story mixed-use retail center at 8000 Sunset Boulevard. It appears the loan is held by Glodman Sachs and the property ownership entity is 8000 Sunset Boulevard Owner, LLC (owned by [...]
Goldman reported great 2Q numbers this morning with a 65% surge in earnings. A good portion of their profit came from recent underwritings of REIT offerings. On their press call this morning, Goldman disclosed a $700 million loss in commercial mortgage loans and a $500 million loss in RE principal investments – ouch. The piece [...]
