Real Insight. Real Estate.

Posts Tagged ‘commercial real estate blog’

For the Week of February 27 - March 5

- Does a strong REIT recovery after its drop in January signal the ability for REITs to go on the offensive?

- Could a Beijing real estate bubble pose a threat to world markets?

- Apartment REITs may debate build vs. buy as demand grows in the near future.

- While many REIT managers say demand for their offices, stores and warehouses is on the rebound, data shows that the real draw for tenants is falling rents.

- Colonial Properties is selling up to $50M of stock. Read the rest of this entry »

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For this week’s top ten, Llenrock is looking back at some of the largest M&A deals of the past decade involving a REIT on either side of the deal. While these top ten deals all carry substantial price tags, they are only a small fraction of the $215 billion in total transactions from 2004 to 2009. Not surprising, there were no deals done in 2009. For the complete list of deals see REIT.com’s statistical publications page.

10. Blackstone Group LP acquires CarrAmerica Realty Corp. $5.6 bil
Deal Completed on Jul. 13 2006

9. SL Green Realty Corp. acquires Reckson Associates Realty Corp. $6.0 bil
Deal Completed on Jan. 25 2007
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For the Week of February 20-26

- Should Fannie and Freddie be converted to non-profit, US-owned entities?

- Simon Property Group and General Growth Properties (two of yesterday’s post’s top earners) head to bankruptcy court in the $10 bil buyout deal.

- Can real estate investors bank on Hollywood’s staying power?

- John Klopp of Morgan Stanley sees debt investing as a significant opportunity going forward for investment banks.

- Does a 75% increase in sales volume in December over the prior month signal a true bottom in the market? Read the rest of this entry »

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Llenrock has sifted through the data of Forbes’ list of top paid executives to bring you the top paid CEOs of commercial real estate investment firms from 2009.

5. Adam S Metz - General Growth Properties - $3.78 mil
Adam S Metz, at 48 years old, has been CEO of General Growth Properties (GGP) for one year. General Growth Properties has been in the shopping center business for over fifty years. One of the nation’s largest REITs, General Growth owns, develops, operates, and/or manages shopping malls in 44 states.

4. David Simon - Simon Property Group - $4.88 mil
David Simon, at 47 years old, has been CEO of Simon Property Group (SPG) for 14 years. Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate
company. Simon Property Group operates from five retail real estate platforms: regional malls, Premium Outlet Centers,
The Mills, community/lifestyle centers and international
properties. It currently owns or has an interest in 387
properties.
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The PERE 30 (from Private Equity Real Estate Magazine) revealed that the top 30 real estate private equity firms raised $211.9 billion over the past five years, up from $190 billion as calculated by last year’s ranking. Listed are the top 10 largest real estate private equity firms.

As a note: the top two largest firms raised $25.6 billion and $20.15 billion respectively in dedicated real estate funds between January 2004 and April, 2009. Together the pair raised a fifth of all the direct-investment capital secured by the world’s 30 largest real estate private equity firms.

10. Westbrook Capital Partners
Westbrook has raised and invested $10 billion of equity in over $35 billion of real estate transactions in major markets throughout the world. Westbrook’s investment equity is committed by a broad base of institutional investors, which includes public and private pension funds, endowments, foundations, and financial institutions.

9. The Carlyle Group
The Carlyle Group is one of the world’s largest private equity firms, with more than $87.9 billion under management with funds across four investment disciplines (buyouts, growth capital, real estate and leveraged finance). Carlyle has committed more than $3.6 billion of its own capital to its funds.
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- The Fed is looking to to calm the markets down after the discount rate increase.

- General Growth Properties bluntly turns down Simon Properties’ publicly announced $10 bil offer.

- 11 US banks that received TARP money posted a 13% increase in loan originations in December.

- Wells Fargo tops 2009 mortgage servicers ranking list.

- Kansas’ own “Fedstradamus” grimly predicts that rising deficits and maintaining interest rates at zero, may be our demise again.
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For the Week of February 6-12

- Will small U.S. banks have to start curtailing lending?

- Fannie and Freddie are set to purchase $200 billion in delinquent home loans.

- Multifamily REIT CEOs expect improvement in fundamentals in 2010 and a generally positive year.

- Mall landlords are expecting a much better 2010 according to WSJ online.

- An aquarium development deal in Times Square?
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10. You aren’t in control More recently as we watch credit card companies increase rates, banks penalize their best customers, and governments shift and change policies on a regular basis we learned another valuable lesson: credit should be used as a safety net, not a crutch. With guidelines and terms of use left largely to the whims of corporate giants and legislators, you can be left feeling like a puppet on a string. The big lesson here: it’s their game, and they can change the rules whenever they want.

9. Optimism vs. blinders There is a big difference between optimism regarding investments, business trends, and economic forecasts, and just moving blindly ahead assuming that economic conditions will remain positive. Bubbles burst, businesses fail, and jobs are lost. It is a fact of economic life that we often lose sight of risk during the euphoria of the good times, and it can be a costly lesson that is all too clear when we are on the financial downslide.
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Starwood Hotels CEO on Earnings and Outlook

Geithner On Community Banks

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The Week of January 31 - February 6

- Are real estate executives gaining confidence in the general market?

- Obama’s budget has hazy implications for commercial real estate.

- Former Security Capital Execs Plan REIT IPO.

- Despite the scare, Fannie Mae still funded over 80% of its loan originations last year with its MBS program.

- Will an infusion of TARP money into small banks result in productive lending to small businesses and real estate?
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