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Commercial Real Estate Week in Review


Week in Review for March 17 – 23:

– Host Hotels and Resorts (HST) expects to raise $344 million in a private placement. It plans to use some of these funds to pay off the mortgage on its JW Marriott in Washington, D.C.

– Kenedix, Inc. plans a $480 million IPO in Japan. The properties to be included in this offering are mainly residential assets in Tokyo. This is the first IPO of a Japanese REIT since 2007.

– Commercial real estate analyst says the industry is better prepared for a recession than it was a few years ago: “Having gone through the Great Recession I think everyone is much more cognizant of the signs,” he says.

– Southern multifamily REIT Ginkgo Residential plans to raise roughly $250 million in an IPO. The REIT currently owns 24 complexes (5,678 units) in South Carolina and Virginia. 

– Jon Bortz, president and CEO of Pebblebrook Hotel Trust (PEB), says diminishing supply will soon lead to strong occupancy and pricing for the hospitality industry.

– The U.S. sues Deutsche Bank AG (DB), one of several major banks accused of manipulating the Libor.

Growing tech companies bring good news to office real estate in some markets. Having different, often more flexible facility requirements than other companies, these Internet firms are expanding their offices while other companies shrink.

– As CMBS activity increases, Moody’s warns of growing risk for commercial real estate investors.

#CRE #finance

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