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The bad news is that commercial real estate loan defaults in California have tripled since last quarter and doubled since a year ago, according to the latest quarterly report from the California Mortgage Bankers Association. The good news is that even the latest, higher figure is only 0.06 percent, nearly a record low. The second-quarter CMBA survey found only seven loans that were more than 30 days delinquent, out of 10,794 commercial real estate loans included in the survey. In addition, 15 of the 17 commercial lenders that responded to the survey reported no loans more than 30 days delinquent….

Real estate markets in most of the developed world are decidedly feeling the pinch of the economic malaise that started last year, according to the RICS Global Commercial Property Survey for the second quarter of 2008. Emerging markets, however, pose a more mixed picture. RICS — Royal Institution of Chartered Surveyors — members worldwide submitted office, industrial and retail property data for their respective markets, which was then analyzed on a global scale for the second quarter of 2008, in comparison to Q1 2008 and 2007 data. All together, a total of 410 responses were received. Among other trends, the…

With the addition of two self-storage facilities in one of the hottest markets in the country, San Diego-based Equity Based Services Inc. (EBS) brings its portfolio of self-storage properties to 55 across 10 states, totaling more than $250 million. “We found a quality product in a quality market,” Stephen Kaplan, CEO of EBS, told CPN. “We foresee Houston’s strong performace will continue well into the future.” Kaplan said EBS has aggressively added eight to 12 properties annually over the last 24 months to the self storage portfolio, which was created in 2000.EBS purchased two self-storage facilities in the Houston area,…

Seattle-based Emeritus Corporation has agreed to purchase five assisted living communities, currently leased to the company, for $62.5 million, plus estimated closing costs of $2.8 million. Located in Ohio, Florida, California and Michigan, the five communities comprise 432 units. The transaction will increase the company’s portfolio of owned properties to 154 or 60.4 percent of the total Emeritus portfolio of 289 communities. This is the third acquisition that Emeritus has announced during 2008. In early June, the company announced the acquisition of 29 communities for $299.8 million, excluding transaction costs. In February, the company announced a $305 million deal for…

Holliday Fenoglio Fowler L.P. has closed two substantial deals with Texas roots, it has reported. Its Houston-based self storage group completed the sale of a 21-property self storage portfolio with facilities in Florida, Texas, Colorado, Kentucky and Ohio. And its Dallas office announced that it had finalized the sale of the Pyramids at Park Lane in that city. HFF represented the seller, Hendry Investments, a San Antonio, Texas, company with storage facilities operating under the Lock-N-Key brand, which sold the properties to Sovran HHF Storage Holdings L.L.C., a joint venture between self storage real estate investment trust Sovran Self Storage…

I recently had a reader ask: “Is there a simple test that can be used to quickly determine an executive’s leadership ability?” The short answer is yes. There are, in fact, a great number of tests that can quickly assess leadership ability. Something as simple as a 360 review, or as complex as a deep psychological profile (both with weighted emphasis on leadership aptitude) can point out an individuals’ leadership capabilities. Our firm (as do many other firms) offers a broad array of skill specific assessments and profiles which can be implemented, but for purposes of answering the specific question…

As the September launch date for CPN’s promised redesign approaches, we are hard at work finalizing our products. Keep an eye out: The new size accommodates a very different look from what you’ve grown accustomed to. You will find an exciting array of new columns, as well as new contributors and a fresh approach to the business of commercial real estate.Meanwhile, in this month’s issue, look for the second installment in our quarterly retail-research partnership with powerhouse demographic data provider and sister company Claritas Inc. We have teamed up to examine the revitalization of older shopping centers. What consumer groups…

If there is one positive trend to take away from the current credit crunch, it is that the real estate industry has truly become globalized. The U.S. housing market’s poor performance has impacted markets around the world, demonstrating the interconnected nature of real estate markets everywhere and driving home the value of international standards.Today’s global marketplace has also drastically altered the real estate landscape, requiring professionals to have a greater understanding of international economies and practices. Technology has made it possible to move capital around the globe instantaneously and to transport people and materials rapidly and inexpensively. Crossborder dealings have…

It’s not easy being the United States’ largest public real estate organization and space user. Nor is it easy to serve such an entity. But the General Services Administration’s Public Buildings Service is striving to make its processes for service providers and landlords smoother and its space more cost efficient.That is no small task. The GSA oversees 352 million square feet of workspace that houses more than 1 million federal employees in 2,100 communities. About half is owned and half leased, some within multi-tenant buildings and some as a single occupant. Properties include office, industrial, laboratory and courthouse properties and…

In the year it took Alan Worden and his wife to sail from Nantucket, Mass., to New Zealand, plenty of unexpected events barraged the CEO of Scout Real Estate Capital L.L.C. The 2000 voyage navigated through multiple storms and a near collision with a freighter while anchored off the coast of the Galapagos Islands.Alongside their boat, the Windwalker, tagged along a leaky yet effective dinghy that allowed them to explore. Aptly, it was named Scout. Five years later, it seemed only natural for Worden to name his new company after the dinghy. “As a company, we will consider many opportunities,…