Most Clicked Real Estate Investment SmartBrief Stories
1. CBO: Taxes and spending cuts likely will send U.S. into recession
Real Estate Investment SmartBrief | May 23, 2012
The U.S. likely will fall back into recession if scheduled spending cuts take effect and Bush-era tax cuts are allowed to expire this year, the Congressional Budget Office said. If the U.S. falls off this "fiscal cliff," the economy will probably contract 1.3% in the first half of 2013, the CBO said. Manufacturing.net (05/22) CNNMoney (05/22) Reuters (05/22)
2. CMBS market faces challenges
Real Estate Investment SmartBrief | May 24, 2012
As Europe's sovereign-debt crisis continues to affect markets, commercial mortgage-backed securities are taking a hit. In May, banks have sold about $2.4 billion of CMBS with the widest spreads so far this year. Market volatility is making it difficult to gauge demand for CMBS. Bloomberg (05/24)
3. Retail centers contemplate how to fill space left by Sears
Real Estate Investment SmartBrief | May 25, 2012
Retail center owners are watching Sears as it makes plans to close stores. Some analysts speculate that it will close more stores than initially expected. Single tenants might replace some of these stores, but in most cases, the vacant space will likely be remodeled to accommodate several tenants. "It's going to be tough because there aren't a lot of natural replacements for Sears," said Macerich CEO Art Coppola. Wall Street Journal, The (05/24)
4. Behringer Harvard Multifamily REIT I considers various options
Real Estate Investment SmartBrief | May 24, 2012
CoStar Group (05/23)
5. 2 trends dominate commercial real estate investment
Real Estate Investment SmartBrief | May 24, 2012
Real estate investors are focusing on two tracks. One is the search for yield and security, which leads buyers to seek out top-quality buildings in top markets. The other is the search for opportunity, which is leading capital to Europe and to other distress plays. CNBC (05/23)
6. U.S. consumer optimism hits highest level since October 2007
Real Estate Investment SmartBrief | May 29, 2012
U.S. consumers were more optimistic this month than at any time since October 2007, according to a Thomson Reuters/University of Michigan index. The benchmark reached 79.3, compared with 76.4 in April. PhysOrg.com (05/28) TheFiscalTimes.com (05/28)
7. NYC office tower trades at twice its price from 2 years ago
Real Estate Investment SmartBrief | May 24, 2012
A New York City building has changed hands for more than double what it traded for in early 2010, according to sources. The building, 4 New York Plaza, was sold for $265 million by Harbor Group International, which had paid $107 million for the 22-story building. The buyer is an investment arm of HSBC Holdings and Edge Fund Advisors. Wall Street Journal, The (05/23)
8. REITs continue to tap ATM offerings for capital
Real Estate Investment SmartBrief | May 25, 2012
Thirteen REITs have announced at-the-market offerings to raise capital this year, as of Monday. In the first quarter, REITs sold $1.4 billion in common equity through ATMs. SNL Financial (free access for SmartBrief readers) (05/23)
9. ATMs provide steady source of capital for REITs
Real Estate Investment SmartBrief | May 29, 2012
At-the-market offerings are providing steady access to capital for REITs, notes SNL Financial. So far this year, 13 REITs have announced such programs. The largest launch in 2012 has been by UDR, which registered 20 million shares for sale. "An ATM can be more advantageous in volatile market conditions because it gives the issuer flexibility in when to issue the shares," SNL Financial's Andy Pierce says. GlobeSt.com (05/25)
10. Distressed hotel loans back new $159.5M CMBS
Real Estate Investment SmartBrief | May 24, 2012
Wall Street Journal, The (05/23)
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