Commercial Real Estate Finance

Posts Tagged ‘real estate finance’

Robert J. Hellman
Managing Director, Real Estate
David Landau & Associates, LLC

Rob Hellman has over 30 years of professional experience, including 27 years in the real estate and financial services industries. Prior to joining DLA, he was a Managing Director at Ackman-Ziff Real Estate Group, working with clients to structure their capital needs and source debt and joint venture/preferred equity for real estate acquisitions and development. He began his career in real estate as part of Lehman Brothers’ efforts to raise equity and debt for real estate investment transactions. During his 16 years at Lehman Brothers, he also served as president and/or chief executive officer for several public real estate funds that acquired over seven million square feet of retail space, 1.8 million square feet of commercial space and over 1,600 multifamily residential units. Rob also sat on the investment and risk management committee of Lehman’s Diversified Asset Group responsible for approving dispositions, major lease transactions and financing decisions. Following his career at Lehman Brothers, Rob became a Senior Managing Director at Newmark & Company Real Estate, Inc., where he was a Principal of Newmark Capital Group and the firm’s Retail Financial Advisors. He subsequently formed Riverstreet Realty Advisors. Among his DLA engagements, Rob has been retained as head of asset management for a major real estate investor owning a $2.5 billion portfolio in the US.

Q: As a company, tell me about the niche you have carved out for yourself and how you feel you are different from the competition. Why do you find this product type more appealing than alternative real estate asset classes?
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Week of April 11-17

- As more deals come to market, market observers are getting hopeful the commercial mortgage-backed securities market is beginning to revive.

- Cafaro: It’s possible to make money with low leverage.

- Based on guidance reports and other public statements, public REITs are planning to break ground on $1 billion in new development this year.

- Hedge fund manager James Chanos is concerned the rapid price buildup in China’s property market might burst as soon as this year.

- The Fed fears inflation and price deceleration going forward.
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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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Dubai government offers $9.5 billion in debt aid to Dubai World and Nakheel

Richard Sparks of Schaeffer’s Investment Research, and Daniel Alpert of Westwood Capital, Discuss whether it’s time to invest in commercial realty.

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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Medical Office Buildings, commonly referred to as MOBs, are one of the few darlings of the current real estate finance industry.  They garner low rates, great terms, and even bankers’ whose commercial loan portfolios took a drubbing want to lend in that space. Need proof? I was at lunch with a banker a couple weeks ago who said that they simply were not doing any construction lending of any kind, period.  When I followed up that comment asking him about medical office buildings, his response was “Oh, well, yeah.  We’d definitely make an exception there.”

While many real estate insiders expected a slow down of the medical office frenzy once Scott Brown’s surprise victory in taking Ted Kennedy’s vacant Senate seat potentially swayed the fate of the healthcare reform bill, it has simply delayed the inevitable.  The popular belief was that the future growth of the sector was going to be fueled only by the 30 million plus currently uninsured people the healthcare reform bill would have added to the system.  But when you figure demand will generate supply, you better make sure to look at the whole picture. Read the rest of this entry »

Jan A. deRoos, Ph.D.,
HVS International Professor of Hotel Finance and Real Estate, Cornell University Hotel School

Dr. deRoos, on the faculty of the Cornell University Hotel School since 1988, has devoted his career to hospitality real estate; with a focus on the valuation, financing, development, and operation of lodging, timeshare, and restaurant assets. He holds B.S., M.S., and Ph.D. degrees from Cornell University, all with majors in Hotel Administration.

Dr. deRoos is director of the Hotel School’s Center for Real Estate Finance. A frequent speaker on these topics, Dr. deRoos regularly contributes to lodging industry conferences in the Americas, Europe, and Asia. Prof. deRoos’ current research is focused on three themes; the design and implementation of hotel management contracts and hotel leases, investment returns to lodging properties and supply/demand dynamics of lodging markets.

Prior to his teaching career at Cornell, Prof. deRoos worked extensively in the hospitality industry. Industry experience includes work for the Sheraton Corporation in New York City, an engineering professional. He worked for Remington Hotel Corporation as Director of Engineering, responsible for the engineering operations and renovation planning of the firm’s owned and managed hotel portfolio, and as Senior Project Manager, responsible for the construction of new properties and renovation of existing hotels. During this period, Prof. deRoos was responsible for the construction of Marriott Hotels, Hilton Hotels, and Hampton Inns.

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Everyone knows that there is a bid-ask gap between buyers and sellers. Everybody knows that financing is extremely difficult with the credit markets still in turmoil. Everyone seems to understand that commercial real estate sector lags behind the rest of the economy. Yet everyone seems to forget what will really help get CRE out of its rut…fundamentals.