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Volume 4 - Number 16 | August 15, 2006
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Industry Update: AFR Delays Fuel Sale Speculation
By Marita Thomas
Weeks have turned into months as American Financial Realty Trust “continues to work diligently on ways to maximize shareholder value,” says Lewis S. Ranieri, chairman, in a statement announcing the postponement of AFR’s second-quarter conference call, originally scheduled for Aug. 8. At the June 1 shareholders meeting, Ranieri said the company would “not sit by idly as shares trade at current levels.”
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Insider: Nationwide Exchange Services’ Michael Halloran
By Michelle Napoli
New strategic alliances between Cupertino, CA-based qualified intermediary Nationwide Exchange Services Inc. and banks and other companies around the country have been frequent as the QI expands its business reach. One alliance announced recently is with Illini Bank of Springfield, IL. NET LEASE forum recently spoke with NES president and CEO Michael Halloran to learn more about the QI’s expansion and business practices and his thoughts on broader 1031 exchange industry topics.
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DataPoints: Q2 Cap Rates: Single Tenant Vs. Multi Tenant
Average cap rates for single-tenant office and industrial assets, at 7.3% and 7.4%, respectively, are higher than their counterpart cap rates for multi-tenant properties. In the retail sector, though, cap rates for single-tenant properties are averaging 6.6% and are still lower than the average for their multi-tenant counterparts.
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