Ares Commercial Real Estate Corporation To Acquire All...
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced today that it has entered into a definitive agreement to acquire EF&A Funding, L.L.C, d/b/a Alliant Capital LLC from The Alliant Company, LLC and Alliant, Inc., for approximately $62.8 million through a combination of cash and stock. Under the terms of the transaction, Alliant Capital LLC is expected to become a wholly owned taxable REIT subsidiary …
Moore: CRE pricing momentum will likely be sustained
Commercial property values have reached and even surpassed 2007’s valuations, according to Green Street Advisors’ Commercial Property Price Index. “Lower rates, an overall drop in yields and real estate catching up to other capital markets has attributed to rising values,” says Jason Moore, an analyst with Green Street Advisors. He says the upward momentum in pricing will likely be sustained. » Click here for …
New CMBS delinquencies drop under the $1B mark
Fitch Ratings reported that delinquencies on commercial mortgage-backed securities dropped to 7.44% in April from 7.63% in March. New delinquencies dipped below the $1 billion mark for the first time since February 2009. » Click here for full story
Equity Residential sells Phoenix multifamily property
Equity Residential Trust has sold a multifamily property in Phoenix for $37.7 million. Henderson Global Investors bought the 350-unit property called Sycamore Creek apartments. » Click here for full story
Dwindling inventory slows sales of existing homes
A tightening supply of existing homes in the U.S. largely was responsible for a 0.6% decline in sales between February and March, analysts say. The National Association of Realtors says existing-home sales eased to an annual rate of 4.92 million. The number of potential buyers increased 25% last month compared with March 2012, but the inventory of houses for sale decreased 17%. » Click …
MHI Hospitality rebrands as SoTHERLY Hotels
MHI Hospitality Corp. has changed its name to SoTHERLY Hotels Inc. The REIT changed the name to better reflect the shifts in its portfolio and approach to the market. » Click here for full story
Vornado nets $156M in proceeds as it strives to focus ...
Vornado Realty Trust is aiming to simplify its portfolio holdings to focus on core properties. It has sold a few properties in recent weeks to that end, netting proceeds of $156 million. » Click here for full story
CMBS expected to see continued smooth sailing
Financing for commercial mortgage-backed securities is not as likely to plunge now as the economic recovery gains momentum. There could easily be temporary spikes in spreads, but that is typical of the market. » Click here for full story
Program to finance energy-efficient upgrades launches
A new financing program, Property Assessed Clean Energy, has launched to support energy-efficient upgrades. Lack of funding has been a top barrier to retrofits, says Katrina Managan, program manager with the Institute for Building Efficiency at Johnson Controls. » Click here for full story
CSO Insights: 2013 Sales Performance Optimization Stud...
In this analysis, see an overview of the eight key attributes found in high performance sales organizations, and some of the major trends that positively and negatively impacted sales behavior in 2012. Compare how your sales team’s best practices align with the high performing organizations in this study. Download the free study now.
CommonWealth REIT adopts provisions to fend off takeov...
CommonWealth REIT has adopted board rules that will help it thwart unsolicited takeover attempts. The REIT recently turned down a $2.9 billion buyout offer from two shareholders. » Click here for full story
Bachia: Brookfield pushes deeper into sustainability
Brookfield Office Properties has focused on sustainability in its portfolio for several years, says Richard Bachia, senior vice president of operations technology. More recently, it began reporting to the Carbon Disclosure Project, an international, not-for-profit organization, and using its Global Real Estate Sustainability Benchmark for its sustainability reporting. » Click here for full story
REIT institutional rankings led by Vanguard, BlackRock
The number of REIT positions held by U.S. institutional investors at year-end 2012 posted an average 8.5% year-over-year increase, according to SNL. Vanguard and BlackRock were at the top of the institutional owners of REIT rankings. » Click here for full story
Chinese cities resist efforts to cool real estate mark...
China’s central government says it is committed to slowing down the rise in home prices, but local governments aren’t cooperating because bringing down property prices will hurt them financially. Money from land sales accounts for about 25% of local governments’ fiscal income. » Click here for full story
Track performance of U.S. and global real estate marke...
Updated daily, the FTSE NAREIT U.S. Real Estate Index Returns and the FTSE EPRA/NAREIT Global Real Estate Index Returns provide index performance data, industry segment returns and comparisons against other major market benchmarks.
Regulators prepare recommendations on rate-setting pro...
Martin Wheatley, CEO of the U.K. Financial Conduct Authority, and Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, are leading a panel of regulators in preparing recommendations for setting benchmark interest rates. The regulators are striving to eliminate conflicts and other issues that have resulted in manipulation of the London Interbank Offered Rate and possibly other benchmark rates. Click here for full …
CRE Liquidity: Too Much, Too Little or Just Right?
Morgan Stanley and Bank of America/Merrill Lynch are going to market in the coming days with a CMBS offering that has a kind of scary deja vu feeling to it for investors. The loans in the offering (MSBAM 2013-C9) have a 98.8% loan-to-value (LTV) ratio, according to Kroll Bond Rating Agency. That is above the high end of the range of the last 11 …
PPR Economists Featured In Latest ULI Real Estate Inve...
Real estate economists Hans Nordby, Shaw Lupton and Suzanne Mulvee of CoStar’s Property and Portfolio Research (PPR) analytic… » Click here for full story
Sternlicht and Barrack Tapping Capital Markets To Fund...
Colony Capital and Starwood Capital Group, two of the giants of global real estate investments who also happen to be among the… » Click here for full story
Ivanhoé Cambridge Buys Into $1.5B Apartment Portfolio...
Continuing a series of high-profile acquisitions in the U.S., deep-pocketed Canadian institutional real estate manager and investor… » Click here for full story
