Commercial Real Estate Finance

Posts Tagged ‘Dave Jacobs’

A couple of days ago the top trending topic on Twitter was “#4wordsbeforedeath” meaning if you had 4 words to say before you died, what would they be? (for those of you who don’t follow us on Twitter, find us @llenrockgroup) Llenrock’s 4 words were “buy low, sell high.” Someone who truly lives by this common phrase is Barry Sternlicht, the “King of Hotels.” Mr. Sternlicht capitalized on the back end of the Savings and Loan Crisis by amassing capital and purchasing properties the government was auctioning off. It is also said that the real estate market is cyclical, and Mr. Sternlicht is counting on this principle as he has, once again, begun to buy up real estate. Read the rest of this entry »

FDIC to Borrow From Banks?

In a post several weeks ago, Llenrock’s Rishy Mehrotra questioned where the shortfall of FDIC funds would inevitably come from.  In an ironic twist of fate, could the FDIC opt to borrow from the very banks it is meant to ensure deposits for?  Check out this video:

Are Commercial Real Estate Values a Good Buy?

Is this Brit a genius contrarian out of the Noriel Roubini mold? Or is the following just self-serving propaganda?  You be the judge:

By now, many of you have likely heard about the tragedy this past weekend regarding local Philadelphia real estate executives Steve and Dan Altman, heads of The Altman Companies, and Dan’s son Doug.  Their Piper plane collided midair with  a Liberty Helicopter,  transporting Italian tourists on a 12 minute aerial sightseeing tour around Manhattan.  I had the fortune of knowing all three Altman men, and to say they will be missed is akin to saying its warm in the Sahara…a sweeping overview and a vast understatement. Read the rest of this entry »

10. Royal Bank of Canada

Size of Banking Industry: $1,700 billion (Canadian)
Key interest rate: 0.5%
Number of commercial banks: 21

Other Banks in Top 50
Toronto-Dominion Bank
Scotia Bank
Bank of Montreal
CIBC

Canada’s banks make up over half of the North American institutions listed on the rankings from Global Finance. Topping the Canadian banks is the Royal Bank of Canada, the country’s biggest bank with a market cap of $30.96 billion. Read the rest of this entry »

Ever seen someone picketing outside an office building in a giant rat costume?  How about manning an inflatable 15 foot rat?  The latter was administered by 3 rotund union workers outside Llenrock’s office building yesterday for our landlord’s decision to, you know, try and operate a building efficiently.  Why would a landlord try and do something as silly as increase revenue, or in this case, decrease expenses? Its not as if they are trying to make a profit or anything.  The fact of investment real estate, capitalism, and life in general dictates that we should exploit every possible inefficiency there is.  Only a fool would do otherwise. This might remind you of the old adage “a fool and his money will soon be parted.”  Maybe bullied is a better word. Read the rest of this entry »

East Asia always seems to be on the cusp of invention, if not innovation.  Whether its  gas- sipping cars, robots, toys or textiles, they always seem to be one step ahead of the U.S.  And when it comes to the future of urban real estate development, they might be one step ahead of us again, at least according to this CPN article.

Sure, conceptually vertical development for retail makes sense in urban centers with increasing populations and dwindling development sites like New York City, Chicago and San Francisco.  After all, residential and office developments work vertically, and even self storage and parking garages have had success with vertical development on a limited site. Moreover, you can conceivably do all of your shopping in one stop.

So why wouldn’t it work in America? Read the rest of this entry »

Fifty-seven banks have failed this year, up from the 25 that shut down in 2008, which included Washington Mutual, the largest bank failure in US history. While the banks that have closed this year are not as large as WaMu, there have been some substantial banks that failed with assets in the billions. Click on to find out which of them rank as the 10 largest failures so far in 2009.

10. Omni National Bank (Atlanta, Ga.)

Closed: March 27, 2009
Assets: $956.0 million
Cost to FDIC: $290 million
Read the rest of this entry »

Mr. Glazer founded Keystone Property Group as a brokerage firm in 1991 and forged Keystone’s growth into an investment firm in 1993, to a development company in 1997, and to a real estate private equity firm that manages capital in 2003.

Mr. Glazer’s professional affiliations include the Young President’s Organization, the National Association of Industrial & Office Properties, the Wharton School’s Zell/Lurie Real Estate Center, Tristate Commercial Alliance and the Urban Land Institute and serves as a director on the board of Hyperion Bank, and the Jewish Federation of Philadelphia.

A graduate of the University of Pennsylvania (BA, 1990), Mr. Glazer is the recipient of many awards and honors, including the Chamber of Commerce Award for Excellence, the MS Leadership Class Award, the Philadelphia Business Journal’s 2006 40 Under 40 Award, a finalist for the Ernst and Young Entrepreneur of the Year Award.

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BlackSwan interview with Dave Jacobs from cj follini on Vimeo.

The Week of July 11-17

- A Life Company helped provide a 10 year interest only loan blanketing 8 shopping centers at 55% leverage.

- HUD showed hospitality towards hospitals.

- Companies have filed for bankruptcy, law firms with heavy real estate practices have closed their doors, and now a major brokerage company is shutting down operations.

- Levi Strauss decided it doesn’t have as many holes in its jean company.

Read the rest of this entry »