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A look at the credit markets
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Click on the photo to view a welcome video from NAREIT CEO Steve Wechsler
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Since August of last year, the dynamics of the financial world have changed considerably, raising a number of important questions about the real estate investment marketplace. The news coverage attached to this special issue of Real Estate Investment SmartBrief highlights the story. The main question on everyone's mind is, where do we go from here? Next up, where can investors find the best opportunities? Leading real estate executives, investors and financial professionals will provide their answers to these questions at REITWeek® 2008, NAREIT's investor forum, which will be held June 4 through 6 at New York City's Waldorf=Astoria Hotel. In anticipation of the conference, we are pleased to offer Real Estate Investment SmartBrief subscribers and conference attendees a glimpse into how the conference topics relate to the latest news in your industry. It's not too late to register to attend this must-attend industry event. To learn more about the event, view this welcome video from NAREIT CEO Steve Wechsler. If you don't receive Real Estate Investment SmartBrief on a daily basis and find our show preview useful, we urge you to sign up for our timely e-newsletter. Real Estate Investment SmartBrief delivers the stories making news in your profession directly to your inbox -- for FREE.      
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| Capital Markets |  | |
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- Fears raised over prospects of Fannie Mae, Freddie Mac
Bush administration officials and regulators are concerned that Fannie Mae and Freddie Mac may soon need bailouts, even as the companies work to keep the housing market afloat. Financial experts worry the companies could falter if housing prices suffer another steep decline. The companies dismiss the fears as baseless. NYTimes.com
(5/6)
- Zell predicts resurgence in commercial real estate
Institutional investors are beginning to return to the market for mortgage-backed securities that finance commercial real estate deals and new construction, according to billionaire Sam Zell. "Is it in large volumes? No. Is it the first natural step in the evolution? Yes," said Zell, chairman of Equity Residential, the largest U.S. apartment owner. Bloomberg
(5/1)
| Investment News | | |
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- CalPERS may lose big on L.A. land investment
The California Public Employees' Retirement System may take a bath on one of the biggest land deals to fall victim to the housing bubble. CalPERS is part of an investment entity that put $970 million into thousands of acres of undeveloped residential land north of downtown Los Angeles. The downward spiral of housing prices may force CalPERS to give up the well-located land to creditors and possibly lose much of its investment. The Wall Street Journal (tiered subscription model)
(5/1)
| Real Estate Marketplace | | |
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- After tough times in housing boom, AvalonBay rebounds
AvalonBay Communities, which builds properties instead of buying them, is being aided by the housing bust after struggling through the boom. The collapse in home prices is pushing people toward apartments, which AvalonBay continues to build. At the same time, the number of people in the prime renting ages of 20 to 34 will rise from 61 million to 65 million in the next five years. Forbes
(5/19)
- UAE state breaks ground on $59 billion development
Ajman broke ground on Al Zorah, a $59 billion master-planned "sustainable residential, business and leisure community." Ajman is the smallest in size of the seven federated states making up the United Arab Emirates. Al Zorah Development Co. -- a joint venture between the Ajman government and Beirut-based Solidere International Ltd. Solidere -- is the developer. Commercial Property Executive
(5/1)
- RREEF plans $1 billion investment in India
RREEF, a unit of Deutsche Bank AG, joined Blackstone in stepping up investments in India. Just days after Blackstone made an investment in the region, RREEF said it would invest more than $1 billion in India's real estate and infrastructure assets over the next three years. "We think India will be an attractive emerging real estate and infrastructure market for our clients," said Kurt Roeloffs, RREEF's regional CEO based in Singapore. Commercial Property Executive
(4/28)
| Policy Watch | | |
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- House committee vote approves housing rescue plan
The House Financial Services Committee approved a bill 46 to 21 on Thursday that would help distressed homeowners as well as new homebuyers. The housing package includes an overhaul of the Federal Housing Administration, stronger regulation of mortgage giants Fannie Mae and Freddie Mac, and a $7,500 tax credit for first-time homebuyers. Republicans oppose portions of the bill that would bail out troubled homeowners who signed up for risky loans. The Washington Post
(5/2)
- FASB proposes accounting rule changes to curb abuses
The Financial Accounting Standards Board is considering changes to accounting rules that would make it more difficult and expensive for banks to repackage and sell loans. The result may be higher borrowing costs for companies and consumers, but it would also prevent many of the abuses that led to the subprime meltdown. The rule changes will "be a little bit like taking the punch bowl away," said Robert Herz, chairman of the FASB. The Wall Street Journal (tiered subscription model)
(5/2)
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reflect the official position of NAREIT.
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- Monday, May 05, 2008
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