|
|
|
|
|
Volume 3 - Number 19 | October 9, 2006
|
TOP STORY: Industry Weighing Impact of Lower Cap Rates on Sale Prices
By Alex Finkelstein
Industry experts have differing views on the effects of declining cap rates on the sale prices of office properties in many metro markets. According to an informal poll by Debt & Equity Journal, both cap rates and sale prices can vary widely within the same market because of factors like location and property condition. In general, lower cap rates lead to higher sale prices. However, brokers say there are other issues to consider.
|
|
New Assets, Investors Fueling Growth in CRE CDOs
By Erika Morphy
Interest in and demand for commercial real estate collateralized debt obligations has skyrocketed in the past few years. Fitch Ratings projects a record $40 billion in new CRE CDOs this year, a number that says just as much about capital availability as growing market acceptance. Now that the market has become more familiar with CRE CDOs, more investors are buying them. Perhaps more interestingly, the investments include new asset classes or loan types-–loans not as suitable to a CMBS deal.
|
|
Behind the Deal: Residents Pay Almost $57M to Buy Three Communities
By Alex Finkelstein
Creative financing played a role in the $56.7-million sale of three fully leased manufactured housing communities in West Florida to a group of residents who wanted to save their homes from possible demolition. The deal closed as townhouse and condominium developers in Pinellas and Pasco counties waited on the sidelines, hoping to bid for the properties. The developers planned to raze and redevelop the 156 acres of existing housing for multifamily use.
|
|
Insider: Countrywide’s Joseph George
By Erika Morphy
It’s no secret the real estate markets have been absorbing unprecedented levels of liquidity during the past few years. Just about every lender has his or her own personal story about deals that stretched the limits or pushed boundaries previously held sacrosanct. Joseph George, a senior vice president with Calabasas, CA-based Countrywide Commercial Real Estate Finance, is no exception. George spoke with Debt & Equity Journal about some of the latest manifestations of this ongoing trend in the office sector.
|
|
|
|
|
|
|
|
|
