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New Real Estate Accounting Tail May Wag the Dog
By James Brennan, ES Group: The Financial Accounting Standards Board and the International Accounting Standards Board are finalizing an approach to lease accounting that will impact deal-making in the not so distant future. The new standard, set to come into play in 2011, will shoot a hole in the sails of credit-rated sale-leasebacks and triple-net leases just as they have been gaining back some momentum in 2010. The changes would impact new leases and current leases going forward.
Lodging’s Rapid Improvement Offers Promise for 2011
By Maria Maslovsky, Moody’s Investors Service: Year-to-date fundamentals have strengthened significantly year-to-date, and Moody’s expects the improvement to continue in the medium term, although we acknowledge the potential risks of another broad economic slowdown.
Survey Responses Due Tomorrow: CPE-MHN Most Powerful Real Estate Owners
Are you a real estate owner? CPE and MHN are now collecting data for the 2010 ranking. To be considered, fill out the survey by August 18th.
New Survey: CPE-MHN Most Powerful Real Estate Owners
Are you a real estate owner? To be considered for the 2010 ranking of Most Powerful Real Estate Owners, fill out the survey by August 18th.
Troubled Xanadu Under New Ownership
Xanadu, the troubled $2 billion retail and entertainment complex in Northern New Jersey, is under new ownership. In an expected move, the project’s developers, a group led by Colony Capital L.L.C., turned over the mostly complete project to the lenders that hold the secured debt on the 4.8 million-square-foot property.
Activity Up in Net-Leased Investments
By Maurice Nieman, Colliers International’s Irvine Office
Sales activity in net-leased investments is substantially up since the beginning of 2010, but make no mistake we are still in the midst of what is likely to be a long road to full recovery.
Public-Private Partnerships: In U.S., Two Steps Forward, One Step Back
Howard Roth, Ernst & Young
Although public/private partnerships formed to construct and own major infrastructure projects have gained traction in Europe, Canada and Australia, acceptance by U.S. state and local governments has been more problematic and spotty.