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Commercial Real Estate News

In this section we've added RSS feeds from several commercial property news sources.

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CoStar
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City, Northern New Jersey, Denver, Chicago, Columbus, Boston, Sacramento, Atlanta, Florida and more! NEW YORK CITY Klein Joins Monday Properties as EVP, Capital Markets Lead By Justin Sumner
In another sign of the super-heated market for commercial property in San Francisco, one China-based company has agreed to sell 123 Mission Street to another Chinese investor for $255 million in cash, more than 30% higher than it paid for the 28-story office building in late 2013. The 346,000-square-foot office building in San Francisco’s South Financial District, formerly the Pacific Gas & Electric Building, is a 407-foot-tall structure constructed...
Wentworth Property Company LLC (WPC) and Northwood Investors LLC have purchased a portfolio of five office properties in the eight-building Perimeter Center business park, including 8660, 8665, 8667-8701 and 8777 E. Hartford Dr. and 16767 N. Perimeter Dr. in Scottsdale, AZ. Scottsdale-based real estate development and investment firm Desert Troon Companies sold the assets for $122 million, or about $191 per square foot. "As one of the premiere...
New financial oversight regulations set to go into effect later this year will require lenders originating CMBS loans to include "skin in the game" by retaining a 5% slice of each CMBS deal for five years. The new rules going into effect Dec. 24 are raising concerns in a CMBS market already reeling from a year-to-date 50% decline in overall issuance from last year, even as spreads have tightened significantly from earlier in 2016. So far this year...
Reports issued this week by the Federal Reserve Bank and multinational investment management firm PIMCO (Pacific Investment Management Co.) say US commercial real estate markets are likely due for a reality check after six-years of steady growth. Federal Reserve Chairwoman Janet Yellen, in her semiannual appearance on Capitol Hill this week, reiterated that the Fed will remain patient in raising interest rates. However, the central bank’s Monetary...
      
National Real Estate Investor
The U.S. commercial real estate market could see an influx of capital coming from the U.K., and from other countries whose investors might pull capital out of U.K. properties.

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Publicly-traded REITs have enjoyed a robust recovery since the last recession. It’s a far cry from the days of plummeting stock prices, middling total returns and balance sheet woes.

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Respondents were asked to rank what sectors would be at the top of their “buy” and “sell” list and were able to select up to three property types on each question.

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A majority of respondents indicated that they think REITs have been good at managing their balance sheets.

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Those REITs that are more actively pursuing joint venture capital are generally in the mall, office or industrial sectors.

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Wall Street Journal
New York City officials fined Donald Trump $10,000 after his representatives failed to show up at a hearing to explain why a bench remained missing from the Trump Tower lobby.
After a five-year boom in which rents have jumped by about 20% nationwide, some of the nation’s biggest cities—New York, San Francisco, Seattle and Boston among them—are beginning to see slower increases.
IKEA Centers Russia plans to invest about $2.1 billion to redevelop its portfolio of 14 properties in the country anchored by the namesake furniture retailer.
The real-estate investment trust industry, which has gotten high marks in recent years for adopting compensation programs that investors like, has suffered a bit of slippage in 2016.
If Britons vote to leave the European Union on Thursday, real-estate prices—from homes to London office towers—are expected to drop, but a weaker pound could spur a buying spree among foreign investors.
      
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