Several companies are considering sale-leaseback transactions for non-income-producing assets. The transactions could be a source of cash, but it is unclear how many of the transactions will go through.
The fate of President Barack Obama's $819 billion plan to rescue the U.S. economy rests with the Senate after the House approved the package during a vote that rode the party line. Despite Obama's trip to Capitol Hill to try to win over Republicans, all 177 GOP representatives voted against the bill, and they were joined by 11 Democrats.
CoStar Group released its year-end retail property report on Wednesday. The report painted a grim outlook for 2009 for retailers and the property owners that lease them space. CoStar said the average vacancy rate in the retail sector at the end of 2008 was 6.7% -- up 50
basis points from year-end 2007.
About $530 billion in debt is coming due in the next three years, including $160 billion this year alone, according to a report by Foresight Analytics. With credit markets all but closed, the maturing debt could
deliver a particularly harsh blow to the commercial real estate sector.