Archive for May, 2011

Moody’s CPPI drops 4.2 percent in March

Tuesday, May 31st, 2011

Moody's Commercial Property Price Index (CPPI) fell 4.2 percent in March. This drop makes for 4 months of consecutive declines for the index and marks a new post bubble low, resting at 101.17. Find the full report on RealIndices.com or RCAnalytics.com. The reason for this decline? Moody's: Nearly one third of ... More

REO Monitor: Comerica Tower, Dallas, TX

Monday, May 16th, 2011

Fitch Ratings recently reported the transfer to special servicing of the $180 million first mortgage secured by the 1.6 million square foot, 60-story Comerica Tower located in downtown Dallas. Metropolitan Real Estate Investors bought the property in 2006 for $216 million, which appears to be an 8.3% cap on in place ... More

REO Monitor: One Superior Place, Chicago

Wednesday, May 11th, 2011

Hartz Mountain has acquired One Superior Place from Brookfield Asset Management. Way back in December 2009, Brookfield took over a 7-property, 3,900 unit portfolio from Stellar Management, of which One Superior Place was one. Stellar Management previously acquired One Superior Place for $218 million in August 2007 from Archstone and ... More