Commercial Real Estate Finance

Archive for the ‘Top 10 Lists’ Category

We rarely do a post about parking garages, though it is an asset class we are familiar with, and have worked on to obtain financing on behalf of our clients.  Many people live in the suburbs and commute to work.  On days in which they may have client meetings, they have to drive downtown, and ostensibly find a safe place to park their car.  This generally means finding an acceptable parking garage that is close to your destination but that also won’t burn a hole in your pocket.  With that said, here are the top ten most expensive median monthly parking rates in global financial centers.You might want to avoid working in, or even visiting these places after reading this…unless you have a company card of course.

Singapore

10. Singapore - $192.89

9. Dubai - $240.00
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Looking at the Philadelphia skyline (or any city skyline, for that matter) it is easy to see that in any city the only way to maximize floorspace is to move upward. It is interesting to note that this is not always the case, as the largest building in the world (by floorspace) is a sprawling airport terminal. Below are the top 10 largest buildings in the world, ranked by area of floorspace.

10. Air Force Plant 4

Location: Ft. Worth, TX
Size: 6.5M sq. ft.

Currently houses Lockheed Martin Tactical Aircraft Systems (NYSE: LMT). Air Force Plant 4 is a Government-Owned Contractor-Operated defense manufacturing facility that houses 17,000 employees.

9. K-25

Location: Oak Ridge, TN
Size: 6.6M sq. ft.

K-25 is a former Uranium Enrichment facility that was constructed during the Manhattan Project. It is due to be demolished by the end of 2011.

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There were 23 Fortune 500 companies in 2009 who actually posted significant profit growth in the face of one of the worst recessions of the last 50 years.  Who were they, and how did they do it?

10. O’Reilly Automotive

Last year’s big task for O’Reilly chief Gregory Henslee was integrating the 1,350 CSK stores he bought in 2008.

This year, Merck CEO Richard Clark has a bitter pill to swallow: patents on two hypertension drugs and a brain tumor treatment - which together bring in about $3 billion annually - are set to expire.

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This week we are ranking the top 5 most active real estate developers in Philadelphia, by square feet developed in 2008, as well as under construction development and planned development.

5. Korman Commercial Properties
Sq. ft Developed - 971,332
Sq. ft Planned Development - NA
Notable projects - Korman Interstate Business Park

A Pennsylvania and New Jersey Management and development company specializing in leasing commercial office space, retail space, shopping centers, and industrial space.
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The tough retail environment hasn’t stopped some niche performers from growing sales robustly over the past three years. These 10 stand out for strong organic growth. Rank is determined by three year growth as a percentage.

10. Texas Roadhouse
Annual Revenue: $880 million
3-Year Growth: 47.3%

9. The Buckle
Annual Revenue: $792 million
3-Year Growth: 49.4%

8. Buffalo Wild Wings
Annual Revenue: $422 million
3-Year Growth: 51.8%
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This week, Llenrock Group has listed the top 10 construction contracting firms in the greater Philadelphia area, ranked by totally 2008 billings for Philadelphia specific projects. Dollar values are in millions.

10. Hunter Roberts Construction Group
Billings: $138
Number of new contracts: 22
Employees: 65

9. IMC Construction Inc.
Billings: $152
Number of new contracts: 29
Employees: 65
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Listed below are the Top 10 U.S. Banks as of 12/31/2009. Total Assets (in thousands) as well as total deposits are listed. Troubled asset ratios are given for reference though were not factored into the ranking. For more information click on the name of the bank to be taken to the Federal Reserve System’s National Information Center where you can view the bank holding company’s performance reports and financial statements.

10. SunTrust Bank - Atlanta, GA
Total Assets: $174,166,000
Total Deposits: 118,532,000
TAR: 40.5

9. Bank of New York Mellon Corp. - New York, NY
Total Assets: $212,336,000
Total Deposits: $57,327,000
TAR: 8.7
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This Week, Llenrock Group lists the ten largest hotel chains by number of rooms.

10. Quality - Silver Spring MD
Number of Properties: 1,336
Total rooms: 126,320

9. Super 8 - Parsippany NJ
Number of Properties: 2,125
Total rooms: 131,921
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This week we are listing the top ten banks with nonperforming real estate loans. Overall, there are nineteen banks in the US with more than $1 billion of nonperforming commercial real estate loans. The top two lead the way with a combined value of non performing loans of just under $20 billion! All values listed are in millions.

10. SunTrust Bank - Atlanta, GA
Total Assets $172,814
Commercial Real Estate Loans $23,860
Nonperf. Loans $2,053
% Nonperf. Loans 9%

9. U.S. Bancorp - Minneapolis, MN
Total Assets $265,058
Commercial Real Estate Loans $32,098
Nonperf. Loans $2,083
% Nonperf. Loans7%

8. BB&T - Winston-Salem, NC
Total Assets $165,329
Commercial Real Estate Loans $40,401
Nonperf. Loans $2,299
% Nonperf. Loans 6%

7. Citigroup - New York, NY
Total Assets $1,888,599
Commercial Real Estate Loans $22,467
Nonperf. Loans $2,464
% Nonperf. Loans 11%

6. Fifth Third Bancorp - Cincinnati, OH
Total Assets $110,740
Commercial Real Estate Loans $18,647
Nonperf. Loans $2,487
% Nonperf. Loans 13%

5. J.P. Morgan - New York, NY
Total Assets $2,041,009
Commercial Real Estate Loans $63,402
Nonperf. Loans $2,490
% Nonperf. Loans 4%
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Hint: Stuy-Town's not the biggest

Toward the end of last year, Jerry Ascierto of Apartment Finance Today published a list of the largest multi-family real estate transactions to have taken place in the ‘oughts.’  It’s no surprise that many of these deals were acquisitions of REIT assets considering few private owners own as many units as the large public companies.  The most interesting transaction in the list, in my opinion, is the #1 largest multi-family deal; not because of its size, but because the deal went through in spite of a collapsing CMBS market.  That deal was a harbinger of things to come.  When CMBS financing was unavailable, Fannie and Freddie stepped in to push the deal through.  Hmmm…that sounds like every other multi-family deal that has traded since then.

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