Behringer Harvard Opportunity REIT I, the investment platform of Behringer Harvard, has announced its plan to invest in a portfolio of 15 retail and industrial sites positioned in the Czech Republic, Poland and Slovakia.
Research has confirmed that REITs aren't suffering from job cuts and less-than-stellar sales. "I don't know what's going to happen to the economy, but REITs will hold up OK in a downside scenario," said a portfolio manager at Urdang Capital Management.
HSBC is in talks with developer Larry Silverstein of Silverstein Properties. HSBC is considering leasing 300,000 square feet on the top seven floors of 7 World Trade Center in Manhattan. Silverstein declined comment.
Houston's real estate market remains strong even as the rest of the nation sees a downturn. "We still have a growing economy even though job growth slowed from 100,000 new jobs a year to 40,000 new jobs," said John Pruitt, senior vice president with CB Richard Ellis in Houston. About 18 million square feet of office space comes up for renewal each year in the market.
IStar Financial, which picked up billions of dollars of loans and funding commitments to condominium developers when it acquired Fremont General Corp. a year ago, is struggling to maintain its investment-grade credit rating. IStar is scheduled to release earnings Thursday.