Paul Rosta
More Upbeat ULI Summit Finds Big Finance Players ‘Back on Offense’
Only a year ago, the atmosphere at the Urban Land Institute’s spring summit in Atlanta was dour, even fearful, recalled the organization’s CEO, Patrick Phillips. This week, the ULI’s national meeting in Boston revealed an unmistakable change.
Zell, Linneman Offer Unsparing Views in ULI Keynote
Sam Zell and Peter Linneman kicked off the Urban Land Institute’s spring conference Wednesday with frank, witty and frequently caustic perspectives on the state of the industry and of the nation.
Starwood Eyes $2.8B Hotel Shopping Spree after Closing Two Funds
Starwood Capital Group has just closed two funds totaling $2.8 billion in ample time to capitalize on a market loaded with discounted and distressed assets.
Retail Executives at Most Upbeat Since 2007: ICSC
Something that has been missing from retail real estate for almost three years is starting to make a comeback: optimism.
Wells REIT II Takes IBM’s Suburban Boston Campus in $88.5M Deal
What a difference a few years and a good lease make. Four years after its $25 million acquisition of the then-vacant 490,000-square-foot office complex at 550 King Street in Littleton, Mass., a joint venture of Angelo Gordon & Co. and National Development has sold the fully leased asset to Wells Real Estate Investment Trust II Inc. for $85.5 million in an off-market transaction.
Long Wait for Growth May Be in Store, Linneman Tells NAI Global Forum
By Paul Rosta, Senior Editor
Prospects for the U.S. economy, public policy and commercial real estate industry drew a mixture of skepticism and cautious optimism in New York City this week at NAI Global’s annual market outlook.
Long Wait for Growth May Be in Store, Linneman Tells NAI Global Forum
Prospects for the U.S. economy, public policy and commercial real estate industry drew a mixture of skepticism and cautious optimism in New York City this week at NAI Global’s annual market outlook.
Jeff Dunne – Note Sales in Lieu of Foreclosure
As banks and special servicers continue to take charge of distressed assets ($200 billion at the end of 2009 reported by Real Capital Analytics), they have three primary options to recapture at least some of the value: Foreclose on the asset, complete a short sale or sell the non-performing note. The first two options can be both very time consuming and expensive or require the non performing borrower’s cooperation, neither which may be appealing or possible. As a result, we expect Note Sales will be an emerging trend in 2010 and into 2011. For states like Connecticut, New York and…
New York City Tri-State Area: Era of the Loan Extension
 With a paucity of new capital coming into the system and many loans maturing, most property owners have limited options. In some cases the value of the property has fallen below or near the loan balance. Most lenders appear to be opting to extend with modest pay downs. This explains why fewer borrowers are refinancing. The option with the least friction for borrowers is to ask for a loan extension. These extensions differ from securitized loans and non-securitized loans. Borrowers who have securitized loans maturing must deal with special servicers. When the loan is likely to go into default…
New York City Tri-State Area: Data Points – Where & How the Trades are Happening
 The investment market held its collective breath late last week as the 10-year US Treasury touched 4% before settling at 3.79% on Friday. The sharp upward movement of the 10-year was a reminder of how important debt is to the overall economic recovery and our business in particular. Over the past twelve months, we’ve seen the continuation of a number of debt trends that are shaping the deals that close today: assumable debt that drives transactions; regional lenders filling a lending void for smaller (sub-$25MM) deals, and Fannie & Freddie drawing buyers to multi-family with attractive first mortgage financing. The…
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