Finance CMBS
Cash Flow More Volatile but Still Stable: Fitch CMBS Study
Aug. 18, 2008
Led by the retail and multi-family sectors, a measure of CMBS investment risk has edged upward for the first time in four years, a study by Fitch Ratings has concluded.
Inland American Sees Opportunity in RE Debt
Aug. 05, 2008
Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months.
RayTorto CBRE’s Torto Sees CRE Correction, No Catastrophe
Aug. 04, 2008
More pain is in store for the U.S. commercial real estate market  for the rest of the year, but reports of a meltdown are greatly exaggerated. That is the conclusion of CB Richard Ellis Inc.’s global chief economist, Raymond Torto, in a mid-year report. Difficulties in areas ranging from the job market to CMBS will take time to resolve. Still, the economy should avoid the severity of the doldrums of a generation ago, Torto argued.
Fannie Mae to Redeem Principal Amounts
July 18, 2008
Fannie Mae will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption.
Margolin Joins Arbor Commercial as Director
June 18, 2008
Arbor Commercial Mortgage announces the appointment of Peter Margolin to director in the firm's Chicago, Ill office.
Finance Groups Doubt SEC Plan to Tag CMBS Pools
June 13, 2008
Proposed changes to bond ratings are raising the hackles of real estate finance groups, which worry that the Security and Exchange Commission’s new rules would slow the recovery of the CMBS market.
CMSA Study Finds CMBS Market Turning Around
June 10, 2008
The economy may remain difficult, but the commercial mortgage-backed securities market has turned the corner. That was the determination of Jun Han, who performed an extensive study of the CMBS market for the Commercial Mortgage Securities Association. Han released the white paper and discussed his findings during a press conference at the organization’s annual convention yesterday.
Centro Wins Another Debt Extension
June 02, 2008
Centro Properties, which has struggled with debt since the early days of the credit crunch, has managed to keep the wolf at the door at bay a little longer, negotiating a new deadline of December 15 to deal with some its debt.
MFA Mortgage Announces Pricing of Public Offering of Common Stock
May 29, 2008
MFA Mortgage Investments Inc. said today it has priced an underwritten public offering of 40,000,000 shares of its common stock, at a price to the public of $6.95 per share, for estimated gross proceeds of approximately $278 million.
JLL Global Capital Markets Expert Carpenter to Advance Loan Sale Advisory Service
May 29, 2008
Noble Carpenter has been appointed to lead Jones Lang LaSalle's loan outsourcing and disposition as part of the firm's real estate investment banking team.
HCP Places $259M of Secured Financing
May 28, 2008
HCP has reported that it has placed $259 million of secured debt on 21 of its senior housing assets.
Younan Taking B-Note, Property in Orange County
May 28, 2008
Younan Finance Group, an affiliate of Younan Properties Inc., has announced that it is under contract to buy a $6.5 million B-Note on Orange Tower, a 290,800-square-foot Class A office building, and a 42,700-square-foot 24-Hour Fitness facility in Orange County, Calif., from Rubicon Capital America L.L.C.
GMAC Sells Securities to 8 Overseas Investors
May 23, 2008
GMAC-RFC has sold mortgage-backed securities to eight investors in Australia and overseas, according to Reuters News.
Pimco Takes MBS Stake
May 22, 2008
Newport Beach, California-based Pacific Investment Management Co. has taken $2.55 billion of mortgage-backed securities from Israeli bank Bank Hapoalim Ltd., according to a Bloomberg News report.
Freddie Mac Prices New $4 Billion Five-Year Reference Notes Due 2013
May 22, 2008
Freddie Mac has announced that it priced its new 3.750 percent $4 billion five-year USD Reference Notes security due on June 28, 2013.
Freddie Mac Prices New $4B Reference Notes Due 2010
May 21, 2008
Freddie Mac has announced that it priced its new 2.875 percent $4 billion two-year USD Reference Notes security due on June 28, 2010.
Land Secured for Charlotte-Area Mixed-Use Development
May 20, 2008
Cornelius Bromont L.L.C. has completed the acquisition of 104 acres in Cornelius and the surrounding Mecklenburg County, N.C., that will be the site of the mixed-use Village of Lake Norman.
Apollo Expands U.S. and European Debt Platform
May 19, 2008
Apollo Real Estate Advisors has expanded its team of senior executives focusing on European region and global senior debt securities, the firm announced.
CMBS Veteran Launches Advisory Firm
May 16, 2008
Frederick Fellows has established Basalt Capital L.L.C. (Basalt) in Chicago, Ill., an investment management company focused on commercial real estate debt securities, the firm has announced.
WestCorp, Equibase Partner to Pursue M-F Opportunities
May 15, 2008
Equibase Capital Group L.L.C. and WestCorp Management Group have partnered to create a strategic joint venture that will pursue multi-family investment opportunities throughout the United States.
CalPERs Adds Developing Bond Managers
May 14, 2008
According to the Euromoney Insitutional Investor, Money Management Letter has reported that The California State Teachers Retirement System has picked Access Capital Strategies, Community Capital Management and Leading Edge Investment Advisors to invest in bonds for it.
Uncertain Times for the Net Lease Market
May 13, 2008
The first quarter "2008 Net Lease Market Report" by Northbrook, Ill.-based Boulder Net Lease Funds L.L.C. characterizes the current state of the market in the following unusual terms: "The market," it asserts in the first paragraph, "is difficult to make sense of at the moment."
Woes Mount for Centro as Suit Claims Property Group Misled Investors
May 12, 2008
Beleaguered Centro Properties Group, the Australian property group that just recently won a $6.2 billion debt extension, faces new troubles. 
GM to Buy Properties in Detroit, Michigan, Issues Mortgage-Backed Line to Subsidiary
May 09, 2008
An 10-Q filing has confirmed GM's buy of three properties, including its Detroit, Michigan-based corporate headquarters, for a total of $826 million.
Franklin Credit Announces Hedge Agreements
May 07, 2008
Franklin Credit Management Corp. has announced that it has entered into interest rate swap agreements in order to hedge an additional portion of its interest-rate-sensitive borrowings against future increases in short-term interest rates.
 

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REal Talk with Adam Perrotta-Tuesday
August 19, 2008
By Adam Perrotta, News Writer --In the latest example of a firm looking to snap up debt in the wake of the credit crunch, Apollo Real Estate Advisors has pumped up funding for its debt investment fund to $930 million....

PNC Finances $354M for Trio of California Projects
August 19, 2008
By Adam Perrotta, News Writer -- PNC has provided a total of $354.4 million in financing to three separate projects in California. In the largest financing, PNC subsidiary PNC Real Estate Finance extended a $300 million term/construction loan to Macerich...

N3 Capital Partners Changes Name to Pennybacker Capital, Eyes $250M in Investments
August 19, 2008
By Gail Kalinoski, Contributing Editor -- As it prepares to move from Fort Worth to Austin this fall, real estate private equity firm N3 Capital Partners L.L.C. has changed its name to Pennybacker Capital L.L.C. The firm also announced plans...

Experts: Lehman RE Sale Could Be Major Opportunity
August 19, 2008
By Eugene Gilligan, Senior Editor -- Lehman Brothers Holdings Inc.'s sale of its commercial real estate assets may entice opportunity funds with the patience to wait for a positive turn in the real estate cycle, according to two real estate...

Emaar Begins Sales at $3.2B Master-Planned Community in Dubai
August 19, 2008
By Gail Kalinoski, Contributing Editor -- Development in Dubai continues to explode with Emaar Properties, the Middle East's largest builder, saying it is beginning sales this week for its newest residential master-planned community. Mushrif Heights is estimated to cost $3.2...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...