Editor-in-chief Suzann D. Silverman spoke with Ford Motor Land Development Corp. chairman Sean McCourt for CPN’s April 16 issue about achieving green and other initiatives in this difficult economic environment. What follows is their discussion about the company’s ongoing efforts to repurpose manufacturing sites that must be shut down, as well as further information on its brownfield redevelopment project.CPN: You’ve shut down a number of plants in the past few years. What has been your approach to disposing of them?McCourt: We don’t close the plant and then sell the plant. … Our objective is to first of all address any…

With a number of retailers in bankruptcy and others closing stores – as reported yesterday by CPN — talk of a “crisis” in the industry is in the air. But is the state of retail a bone fide crisis along the lines of the early 1990s real estate depression, or just a more ordinary down cycle in a business universally acknowledged as cyclical? CPN spoke with two retail industry experts this morning to get their take on the direction the industry is taking, and the impact on retail real estate: Bernard J. Haddigan (pictured), managing director, national retail group of…

Investors are flocking to opportunities created by the credit crisis, and Sky Development Inc. and SunVest Communities are the latest to ride the wave, creating the $300 million joint SkyVest Real Estate Opportunity Fund to capitalize on the economic, financial and property market dislocation. “Tons of opportunities are yet to come due to the economy and credit crunch,” Gavin Susman (pictured), a managing member of the joint venture & COO of Sky Development, told CPN. “There will be a huge downfall of properties that cannot support their loans.” The fund will invest in distressed residential and commercial projects, both directly…

Paul Daneshrad thinks 2009 will be a good year to focus on other areas rather than buying and selling. Daneshrad is president and CEO of Starpoint Properties, which specializes in the acquisition, development, and repositioning of multifamily projects, and currently operates a portfolio in excess of $400 million.A major focus at Starpoint this year will be looking at how well the company is doing in property management.“We’re going to take a close look at how well we operate,” Daneshrad said. He said strengthening its property management business should enhance the value of the firm’s multifamily assets, thus boosting their sales…

The consensus among finance professionals is that for 12 to 18 months, the real estate capital markets will look much like they did a dozen years ago, before the CMBS boom. That will translate into financing structures consisting of 65 to 70 percent leverage, rather than the more than 85 percent that became common in recent years. A more conservative debt-service-coverage ratio of 1.2 to 1, as well as 25- to 30-year amortization, will also be the norm, according to Eric Tupler, vice chairman for CB Richard Ellis Inc.’s capital markets group.These trends are playing out in a slowing deal…

After executing $6 billion in new acquisitions during 2007, TIAA-CREF plans to invest about the same amount this year, according to Trevor Michael managing director of real estate acquisitions and joint ventures for the fund. He has found encouragement in solid fundamentals across the four major property types, as well as corporate earnings that have weathered the downturn fairly well so far and continued diversification in the U.S. economy.Other investors are also finding opportunity in this volatile economy, although a certain amount of favoritism is showing for specific property types. A rocky economy could make multi-family properties the most-favored investment…

How active will publicly traded REITs be this year? Real Capital Analytics Inc. president Robert White expects them to be more active, after two years as net sellers, because they operate better in a low-leverage environment. “I see them being much more active in the recovery process,” he said.Jones Lang LaSalle Inc. CEO of capital markets Earl Webb believes they will be selective and strategic in their acquisitions, buying properties in order to enter or build mass in a particular market. “If they are seeing values decline relative to replacement cost and they see a good return, they will buy,”…

Capmark Finance Inc. has assembled a syndicate of 11 lenders, including a Capmark affiliate, to provide a $405 million financing package for The Peabody Orlando hotel in Orlando, Fla. The floating-rate loan refinanced existing debt originated by Capmark Finance in 2005 and provides construction financing for an expansion that will nearly double the size of the hotel. The loan has a four-year term with a one-year extension option. The syndicate members contributed an average of about $36.8 million to the total loan, which is typical for such a large package, Alan Stoller, senior vice president in Capmark’s hospitality lending group…

Taurus Investment Holdings has closed on the development financing for 73 acres of land in Orlando via its subsidiary, Taurus Industrial Development L.L.C. The industrial project, located directly north of Orlando International Airport, will consist of 950,000 square feet of Class A distribution and warehouse space. The phased speculative development will initially comprise of 665,000 square feet of distribution space consisting of a 378,000-square-foot cross dock facility and two rear load buildings measuring 135,000 and 145,000 square feet. The property is less than one mile from Florida 417 near Interstate 4 and the Florida Turnpike. The second phase of development will be constructed…