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Volume 3 - Number 15 | August 14, 2006
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TOP STORY: More Investors Buying Real Estate With IRA Funds
By Alex Finkelstein
A growing number of investors are using self-directed, tax-deferred individual retirement accounts to own commercial real estate, according to mortgage bankers and real estate tax lawyers interviewed by DEJ. However, some experts say the pros of using IRA accounts to acquire real estate may be outweighed by the cons.
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Mixed Reviews for Industrial Sector Performance
By Erika Morphy
A new report from Colliers International Property Consultants Inc. suggests the US industrial market is more robust than other firms have estimated. It recently reported that the real estate sector posted a strong second quarter, with absorption once again higher than the 50 million-sf threshold. Colliers estimates absorption totaled 52.8 million sf in Q2, up significantly from the 39.3 million sf in the first quarter this year and only slight lower than the 53.5 million sf absorbed during the second quarter of 2005.
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Behind the Deal: Ackerman’s All-Cash Strategy Pays Off
By Alex Finkelstein
Few investors put down $40 million cash for a 500,000-sf, 85% leased office complex. However, for Atlanta-based Ackerman & Co., the all cash acquisition strategy is paying off. Ackerman president Kris Miller says it allows the company to close deals faster and gives it more time to compare proposals from potential lenders regarding post-closing refinancing.
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Insider: RLJ Development's Thomas Baltimore Jr.
By Erika Morphy
Earlier this year, RLJ Lodging Fund II, LP, an affiliate of RLJ Development, announced a $1.7 billion, 100-hotel acquisition--most of them from the Marriott International Inc. family of brands--from White Lodging Services Corp. It was one of the largest acquisitions in this asset class in some time. Once the transaction is complete, RLJ will be one of the largest Marriott franchisees nationwide. D&E spoke with Thomas J. Baltimore Jr., president of RLJ Development, about the acquisition and the hotel sector in general.
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