Finance
AMB Closes $422M Brazil Fund
The fund aims to develop, acquire, own, operate, manage and dispose of logistics properties within Sao Paulo and Rio de Janeiro.
HCP Closes $1.5B Public Offering
The healthcare property REIT will use a portion of the proceeds to help finance the acquisition of HCR ManorCare Inc.’s 338-property portfolio of real estate assets in a $6.1 billion deal.
Economy Watch: Fannie Mae More Optimistic
Fannie Mae’s Economics & Mortgage Market Analysis Group has upgraded its predictions for U.S. GDP growth in 2011 from 2.9 percent to 3.4 percent, another reflection of the prevailing optimism coming from prognosticators. The GSE is even predicting an improving housing market for the coming year.
Passage of $858B Tax Deal Good News for CRE
With the U.S. Senate’s approval of the big $858 billion tax bill–officially, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010–the White House is celebrating and the commercial real estate industry is smiling, too.
$858B Tax Deal Still Under Debate
Passage of the White House-proposed and the Republican-supported tax package, a deal that is on the verge of making its way through the Senate, would have far-reaching implications–even for commercial real estate. Some industry experts say the extension of the Bush-era tax cuts would encourage commercial real estate investment.
Economy Watch: GSEs Pressured to Modify More Mortgages
Fannie Mae and Freddie Mac are reportedly in talks with various government officials about reducing the balances of mortgages they own or control in cases of underwater homeowners, something the GSEs have so far been loath to do.
Archstone Lightens Debt Load by $5.4B
Archstone can breathe a big sigh of relief. With the conclusion of financial restructuring, the national apartment investment and operations company has eradicated $5.4 billion from its total debt.
Economy Watch: Compromise on Tax Cuts, Unemployment?
The agreement described by President Obama was tentative, something he called “a framework for a bipartisan agreement.” Still, the deal would extend the current tax rate for everyone who still has an income for two years, while maintaining unemployment benefits for those who do not for 13 months.
Economy Watch: Pending Home Sales Show Some Life
Pending home sales spiked unexpectedly in October, according to the National Association of Realtors on Thursday. Foreclosed properties made up a large proportion of those sales. Meanwhile, retail performed well in November.
Cedar Wraps up $65.2M in Mortgage Loans on Six Shopping Centers
Cedar Shopping Centers Inc. has closed on 10-year fixed-rate mortgage financing for a six-property suite purchased in October. The primarily supermarket-anchored properties were bought on behalf of a joint venture between Cedar and RioCan Real Estate Investment Trust, a Canadian firm.