February 12, 2007 | Vol. 4 No. 3

02/12/2007 Issue

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Volume 4 - Number 3 | February 12, 2007

TOP STORY: Market Prepares to Digest EOP Acquisition
By Erika Morphy
Now that locally based Blackstone Group LP has won the bidding for Equity Office Properties Trust of Chicago, the capital markets will have to digest much of the $39-billion acquisition price.

Behind the Deal: Omission of Two Little Words Almost Kills $11M Deal
By Alex Finkelstein
The omission of two little words in a lender’s document almost killed the $11.11-million sale of the Whispering Palms apartment complex in Largo, FL, a deal that closed in Dec. 2006, nine months later than expected.

Hotel Industry Adjusts Projections as More Supply Enters Pipeline
By Erika Morphy
Some hotel developers and lenders are paying more attention to development valuations and acquisition costs of existing hotels. One lender says too many hotel projects are based on unrealistic cash projections--and feels the tipping point in the current hotel cycle is near.

Fitch Predicts Good Year for Office and Retail REITs
By Alex Finkelstein
A new Fitch Ratings report gives REITs a stable outlook for 2007 with possible upgrades in the office and retail sectors.

Insider: Atherton Trust’s Kraig Kast
By Erika Morphy

What's Hot, What's Not

Retail Roundup: Simon Earns High Marks on Cash Flow Strength

Capital Markets: Leasing Overtaking Ownership, CoreNet Finds

Executive Moves: Fitch Ratings Promotes Bonfiglio