Archive for January, 2010

REO Monitor: Residence Inn, Midtown Atlanta

Sunday, January 31st, 2010

Citigroup Global Market Realty has filed to foreclose on the 78-room Residence Inn located in Midtown Atlanta. The owner, Moody National RI Atlanta S, LLC is a subsidiary of Moody National Companies. Headquartered in Houston, Texas, Moody National Cos. is a national TIC sponsor and equity fund manager. Moody ... More

Using Beta to invest in CRE…

Friday, January 29th, 2010

Recently, we stumbled across an article on by David Lynn, a managing director and head of U.S. research and investment strategy with ING Clarion based in New York. In this article, he applies the financial concept of beta for "a potential investment strategy during the anticipated real estate recovery, ... More

More of Shiller’s Thoughts…

Wednesday, January 27th, 2010

Robert Shiller gives more of his thoughts on the economy, asset bubbles, investment strategy and to plug his book "Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism" on CNBC.

Former US Bank Building Sells

Friday, January 22nd, 2010

The former U.S. Bank Building, located at 918 17th Street in Denver, Colorado has been sold by its lender to Stonebridge Cos. for $4.5 million, or about $43 psf. Patrick Devereaux, a broker with Cushman & Wakefield, sold the property on behalf of its lender, Capmark Finance. Capmark foreclosed on ... More

Rubicon US REIT Files Bankruptcy

Thursday, January 21st, 2010

Rubicon US REIT has filed for bankruptcy in a Delaware court according to a report in Reuters. This follows the company's announcement that an administrator was assigned to its parent company in August of 2009. According to Rubicon America's website "The RAT Portfolio is now highly diversified with 33 properties ... More

Calling a Bottom in Commercial Real Estate

Wednesday, January 20th, 2010

The Wall Street Journal has an article aptly titled Matter of Debate: Bottom in Commercial-Property Values. The article questions whether commercial real estate asset values have finally bottomed. According to the Real Capital Analytics chart below, it appears that there has been an up-tick in transaction volume (albeit a small ... More

Miles Properties Files for Bankruptcy

Tuesday, January 19th, 2010

Atlanta-based Miles Properties has filed for bankruptcy protection, according to a report in the Atlanta Journal-Constitution. According to the report, Miles Properties has about 228 employees and manages about 9,000 units at 36 different apartment complexes. "The January 8th filing included companies that own five Georgia apartment complexes: Highland ... More

REO Monitor: Four Seasons – Dallas, TX

Tuesday, January 19th, 2010

U.S. Bank, on behalf of the mortgage holder, filed to foreclose on the Four Seasons Hotel in Dallas. This action follows efforts by its owner, BentleyForbes, to restructure the debt with special servicer CW Capital Asset Management. According to a report in the WSJ, "'The filing of the foreclosure posting ... More

Top 25 Industrial Owners

Friday, January 15th, 2010

It may not be the sexiest asset type, but these companies own a ton of industrial product. National Real Estate Investor published their list of the top 25 industrial property owners in the nation. They are as follows: 1. ProLogis Total Industrial Portfolio: 487 million sq. ft. 2. AMB Property Corp. Total Industrial Portfolio: ... More

Video: Sam Zell’s Latest Thoughts

Thursday, January 14th, 2010

Zell's latest thoughts on commercial real estate, the housing market, emerging markets, public policy and the Tribune's reorganization. He is bullish on institutional grade, high-quality, infill office and retail properties. Zell is also bullish on emerging markets, specifically Brazil. His holding company, Equity International, is an investor in both the ... More