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real estate market conditions
Health Care REIT, Inc. Added to S&P 500
Standard & Poor’s announced that Health Care REIT Inc. (NYSE:HCN) will replace Sovereign Bancorp Inc.(NYSE:SOV) in the S&P 500. Standard & Poor’s Announces Changes to U.S. Indices [.pdf] Sovereign is being acquired by Banco Santander SA, leaving a vacancy in the index. Health Care REIT, Inc. is an equity real estate investment trust that invests [...]
Emerging Trends in Real Estate
The Urban land Institute’s Emerging Trends in Real Estate for 2009 came out with a picture of doom and gloom, predicting that in 2009, commercial real estate will suffer its worst year since the industry’s crash of 1991-92, with a noticeable rebound unlikely until 2011 at the earliest. It also forecasts a decline of 15% [...]
Largest Real Estate Investment Managers
Pensions and Investments Online put together a list of the Largest Real Estate Investment Managers. The list is ranked by total worldwide real estate assets, in millions, as of June 30, 2008. Disclaimers
Economic Emergency Stabilization Act of 2008
The White House and Congressional Leaders finalized the Bailout Bill: Current draft of the Economic Emergency Stabilization Act of 2008. (from the Wall Street Journal) It will be interesting to see how it progresses through the House and Senate. I expect to see a lot of salesmanship as politicians try to weave into their current [...]
When Life Hands You Lehman, Make Lehman-Aid
Over the weekend, Lehman Brothers lost its interested buyers and got ready to file for bankruptcy. According to the New York Times, interested buyers wanted the federal backstop that was put into place for JP Morgan Chase purchase of Bear Stearns: 2 Wall St. Banks Falter; Markets Shaken. According to the Wall Street Journal, the [...]
Opportunity Funds Overfloweth
National Real Estate Investor published a story by Joe Gose on the flow of capital into distressed property funds: Opportunity Funds OVERFLOWETH. “Opportunity funds concentrating on distress intend to take advantage of the seized-up debt markets in a few different ways. Many funds are buying debt at a discount from investment banks stuck with billions [...]
Office Building Classifications
I was poking around for a definition of Class A buildings and had a hard time finding a solid definition. In BOMA’s Building Class Definitions, buildings are grouped into Class A, Class B and Class C. But BOMA does not recommend the publishing of a classification rating for individual properties. Metropolitan Base Definitions Class A. [...]
Retail in Russia
In last week’s Wall Street Journal, there was an article on Developers Diversified Realty Corp.’s plan to expand into Russia: Mall Developer Targets Russia. I found the statistic on retail space to be really interesting. In Russia, the volume of shopping space per 1,000 inhabitants makes up about 420 square feet, according to Maxim Karbasnikoff, [...]
Mapping Foreclosures in Massachusetts
The Boston Federal Reserve Bank has put together a great interactive map showing two decades of foreclosure activity in Massachusetts: Foreclosure Rates in Massachusetts Cities and Towns 1990-2007. There is a lot of red, showing lots of foreclosures in 2007But there was a lot more red in 1992 This graphic was developed in conjunction with [...]
Rev. Proc. 2008-28 and Foreclosure Relief for Securitizations
The Internal Revenue Service issued Revenue Procedure 2008-28 [.PDF ] which provides for the modification of certain mortgage loans will not jeopardize the favorable tax treatment of the capital structure for certain securitization capital structures. One issue impacting the downturn in the real estate market is the inability of some lenders to revise the loan [...]
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