Real Estate Investment SmartBrief

Reading this on a mobile device? Try our optimized mobile version here: https://r.smartbrief.com/resp/emgiCfbwocfDmohtaNOq

March 4, 2013

The daily source on REITs and real estate investment

Top News

Congress works to avert March 27 government shutdown
Congressional leaders said they were optimistic a deal could be reached to avert a government shutdown when its funding authorization expires March 27. House Speaker John Boehner, R-Ohio, said he was "hopeful that the House and Senate will be able to work through this." There were no signs lawmakers will make any efforts to modify or undo across-the-board spending cuts that took effect Friday. The Washington Post (3/3), Los Angeles Times (tiered subscription model)/Politics Now blog (3/3), Politico (Washington, D.C.) (3/4)

Capital Markets

QE3 is going smoothly, Fed's Potter says
The Federal Reserve's third round of quantitative easing hasn't disrupted the markets, said Simon Potter of the Federal Reserve Bank of New York. "So far, there seems to be little evidence that the current pace of purchases is straining the market's ability to deliver securities to us," Potter said. Reuters (3/1)

Goldman continued to rein in risk last year
Goldman Sachs Group's risk levels last year were the lowest they have been since 2005, and it saw no days with trading losses $75 million or more. Goldman did, however, see the number of days with trading gains of at least $100 million decrease from 54 to 41. Reuters (3/1)

Real Estate Marketplace

Essex acquires San Francisco multifamily for $135M
Essex Property Trust has acquired the multifamily portion of a San Francisco mixed-use project for $135 million. The REIT acquired the 29-story residential portion of Fox Plaza from Archstone. Commercial Property Executive (2/28)

Interstate Hotels takes over management of 14 U.K. properties
Interstate Hotels & Resorts has announced the addition of 14 hotels to its U.K. portfolio through the acquisition of U.K.-based Sanguine Hospitality's management platform. The portfolio comprises five hotels in development and nine newly opened properties operating under several international brands. HotelsMag.com (free registration) (3/1), Hotel Management online (3/1)

Canadian REIT acquires Lodging Enterprises
American Hotel Income Properties REIT has acquired Lodging Enterprises, a 32-hotel chain with locations in secondary U.S. markets. This is the Canadian REIT's first acquisition in the U.S. Commercial Property Executive (3/1)

REITs market foreign assets to Canadians
Canadian investors have more opportunities to invest in global commercial real estate as foreign REITs market offerings to Canadians. There have been a number of such offerings in recent weeks. Financial Post (Canada)/FP Street blog (3/1)

NAREIT News

Track performance of U.S. and global real estate markets
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.

Learn more about NAREIT -> Join NAREIT | Policy & Politics | NAREIT Events | Publications

Policy Watch

Banks express concerns about consequences of regulations
A Citigroup securities filing says a Dodd-Frank Act provision forcing overseas branches to comply with U.S. derivatives rules might cost the bank customers. Clients "have expressed an unwillingness to continue to deal with overseas branches of U.S. banks if the rules would subject them to these requirements," according to Citigroup. Meanwhile, Goldman Sachs says ring-fencing subsidiaries would force the bank to hold more capital. Bloomberg (3/1)

Wal-Mart Foundation chief is Obama's choice for budget office
President Barack Obama will nominate Wal-Mart Foundation President Sylvia Mathews Burwell to head the Office of Management and Budget, a White House official says. She served as an aide to former Treasury Secretary Robert Rubin and on the staff of the National Economic Council. Burwell has worked at nonprofit institutions since leaving government. The New York Times (tiered subscription model) (3/3), The Washington Post/Wonkblog (3/3)

SmartQuote

The man who insists upon seeing with perfect clearness before he decides, never decides. Accept life, and you must accept regret."

--Henri Frédéric Amiel,
Swiss philosopher, poet and critic

Subscriber Tools

Print friendly format | Web version | Search past news | Archive | Privacy policy

Advertise

Account Director: Alexandra Varipapa (302) 242-2055

Read more at SmartBrief.com
A powerful website for SmartBrief readers including:
Industry Home Readers' Choice Search Archive Get this RSS Feed Publish your Press Release Download a SmartBrief Mobile app today


	Recent Real Estate Investment SmartBrief Issues: Friday, March 01, 2013 Thursday, February 28, 2013 Wednesday, February 27, 2013 Tuesday, February 26, 2013 Monday, February 25, 2013			Lead Editor: Liz DeHoff Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004