Allison Landa
Abacus, QVT Flip Property, Gain Profit
Acquire an asset, hold it for a year or so and then sell at a sizable profit. Sounds like a 2007 transaction outcome, and apparently it is for Abacus Capital Group and QVT Mount Auburn Capital L.P. The multi-family investment advisor and the real estate private equity fund recently sold the Enclave at Adobe Creek apartment community in Petaluma, Calif., for $68 million after having bought the property for $52 million in October 2009.
Economy Watch: Mortgage Delinquencies Slide
The Mortgage Bankers Association reported that the mortgage delinquency rate for residential properties of as many as four units decreased to 8.2 percent as of the end of the fourth quarter of 2010. That’s a decrease of nearly a percentage point–91 basis points–from the third quarter of 2010, and a decrease of 125 basis points from the fourth quarter of 2009.
Health Care REIT, Benchmark Form $890M JV
The agreement involves 34 of Benchmark’s seniors housing properties encompassing 3,007 units in New England.
Economy Watch: Starts Rise for Multi-Family
Housing starts spiked in January to an annualized rate of 596,000 units, according to the U.S. Department of Commerce. That was a 15 percent increase compared with December. But not all kinds of housing are on equal footing these days.
ProLogis Inks Lease on 221,000-SF Facility
Data center technologies provider i/o Data Centers will occupy the entire Phoenix space, which was developed in 1994.
Equity Becomes Leader in Brazil Self-Storage Market with $58M Investment
Investing in GuardeAqui, the top self-storage company in the country, made the firm an overnight market leader.
Could Fannie, Freddie be a Thing of the Past?
Winding down the two government-sponsored enterprises is the main takeaway from the Obama administration’s plan for reforming the country’s housing finance market.
CPE Radio: Dees Stribling’s Economy Watch Weekly
Economy Watch reporter Dees Stribling offers insights into the top economic news of the week ending Feb. 11 and what to watch out for in the coming week.
IPD Seminar: CRE Recovery Also Depends on Jobs
Now that the economy is chugging along, will employers start hiring enough workers to put the millions of Americans who lost their jobs in the wake of the Panic of 2008 back to work? Probably, but indications are that labor will continue to see a slow recovery — the slowest, in fact, in modern times.