Commercial Real Estate Finance

Posts Tagged ‘Entertainment Properties Trust’

As is often the case, this is not my list. I found this ranking in an interesting article on Seeking Alpha, in which Avi Morris names his choices for this year’s Top 8 REITs for Yield Potential, emphasizing the appeal of their tax-advantaged dividends.

(These REITs are ranked in descending order according to their 2011 yields, which means they’re basically in no particular order when it comes to their potential for 2013.)

- Omega Healthcare Investors (NYSE: OHI)

- Senior Housing Properties (SNH)

- EPR, Inc. (NYSE: EPR)

- Sun Communities (NYSE: SUI)

- Campus Crest Communities (NYSE: CCG)

- Highwoods Properties (NYSE: HIW)

- Home Properties (HME)

- HCP (NYSE: HCP)

An interesting list, including several of the less-talked-about REITs. There’s a good mix by asset class, with both diversified and specific-asset REITs making up this ranking: If we break this list down by asset class, we have 3 healthcare/senior living REITs, one trailer park operator (my term, not theirs), one student housing REIT, a couple multifamily REITs, and two diversified REITs (including EPR, a/k/a Entertainment Properties Trust, whose holdings include everything from movie theaters to water parks to charter schools). Read the rest of this entry »

The commercial real estate industry connects to the education sector in many ways. As the kids grumble back to school, it’s worth taking a look at the complicated relationship between real estate and education, because there’s more to it than back-to-school shopping.

Of course, we know how important this shopping season is to America’s retail sector. Whether we’re talking about elementary, secondary, or college students, the return to school is a significant force in America’s economy. While large, single tenants seem to be the big winners this year–with Target  (NYSE: TGO), for instance, enjoying strong earnings leading up to the school year–the back-to-school crowd is no doubt benefiting smaller retailers and shopping malls, too.

However, the money from selling book bags, notebooks, and John Belushi Animal House posters is just a peripheral benefit of the education sector. Ultimately, education is a major determinant of where people choose to live. The quality of area schools directly supports  CRE demand and opportunity in the area.

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To say commercial real estate investors have turned bearish in the last three or four years would be a bit of an understatement (much like the phrase, “a bit of an understatement”). Considering last month’s employment dip and the still-sluggish office and retail sectors, today’s CRE market isn’t conducive to highly speculative investments.

In most cities, the idea of developing a big-ticket “entertainment district” seems too risky. After all, even real estate firms specializing in entertainment have been setting their sights on other assets. Entertainment Properties Trust (EPR), for example, has been pursuing charter school development. Though America’s appetite for entertainment will persist, I wonder how much real estate can truly profit from this demand.

The city of Philadelphia may soon find out: its Xfinity Live! entertainment complex recently opened in South Philadelphia, adjacent to the city’s three sports arenas.

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Week in Review for March 24 – 30:

- BGC Partners, Inc. (BGCP)’s acquisition of the troubled Grubb & Ellis (GREBQ) is approved in bankruptcy court. The buyers believe the resources gained in this deal will complement those of their previous acquisition, Newmark Knight Frank.

- Rubenstain Partners acquires the Northbrook Corporate Center in Trevose, PA for $13 million. The 107,742 square foot, Class A property was sold by Wells Fargo Advisors, represented by Jones Lang LaSalle (JLL).

- Moody’s (MCO) CEO Ray McDaniel says governments should start their own credit-rating agencies in order to bring greater balance, accountability, and transparency to the credit-rating industry.

- Fellow ratings agency Standard & Poor’s warns that the growth of e-commerce could negatively impact CMBS due to high retail vacancies. This report arrives with the news that Best Buy is closing 50 locations and cutting 400 jobs.

- According to the Urban Land Institute, economists predict a strong commercial real estate market through 2014. They expect CMBS and other transaction volumes to increase as the economy recovers. Read the rest of this entry »

Week in Review for February 11 – 17:

- Hersha Hospitality Trust (HT) secures a $27.5 million loan for its Capital Hill Suites, a high-end hotel surrounded by major government buildings in Washington, D.C. The REIT plans to commit $3 million to update the property.

- The Port Authority of New York and New Jersey approves a $1.2 billion contract with Australian firm Westfield (ASX: WDC). This agreement grants Westfield the opportunity to develop retail space at One World Trade Center and the planned Two World Trade Center.

- Empire State Realty Trust, which manages the Empire State Building, plans to form a public REIT with the goal of raising $1 billion.

- Henry Chamberlin, president of the Building Owners and Managers Association (BOMA), says commercial building operators must accommodate new workplace and technology trends in order to thrive in a mobility-focused culture.  Read the rest of this entry »

Jim Cramer and David Brain, CEO of Entertainment Properties Trust (NYSE: EPR), discuss the REIT’s more diverse portfolio:

#REIT #CRE

Kazuko Morgan of Cushman & Wakefield, Discusses the Impact of Popular Restaurants on San Francisco’s CRE Market

Mad Money Host Jim Cramer Discusses REIT Growth with David Brain, CEO of Entertainment Properties Trust

Commercial Real Estate Week in Review for the week of March 5th to March 11th

- Chesapeak Lodging Trust Raises$212 Million from 12.5 Million REIT Shares.

- Will China, India and the US stimulate an Increase in Global Construction of 70% by 2020?

- The SEC Eliminates Rating Agencies’ Responsibilities and Liabilities.

- The REIT 1/3rd Recommended for Pension Fund Portfolios. Read the rest of this entry »