Posts Tagged ‘commercial real estate’

Bank Construction Loan Problems Are Getting Worse

Here’s an update on part of the commercial real estate sector’s loans from Floyd Norris at the NYT. He delves into the growing problems with construction loans. Reports filed by banks with theĀ Federal Deposit Insurance Corporation indicate that at the end of June about one-sixth of all construction loans were in trouble. With more than [...]

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Manhattan Office Values Crater

Bloomberg has a short article that notes commercial real estate deals in Manhattan have come to a halt. They quote CB Richard Ellis statistics that show three buildings changed hands in the first six months of the year versus an average of 32. The article cites a lack of financing as one of the obstacles [...]

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CMBS Delinquencies Soaring

Delinquent CMBS rose to 3.04% at the end of July which represents a jump of 0.5% in one month according to Fitch Ratings. Here is the company’s summary of the current situation and trend: ‘For the past several months, delinquencies have increased at a rate of over $2 billion per month; the 30-to-60 day rollover [...]

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Maguire Properties Mailed In The Keys To Seven Buildings

Maguire Properties, one of the largest office owners in Southern California is throwing in the towel on seven office buildings. From the WSJ: Maguire Properties Inc., one of the largest office-building owners in Southern California, is planning to hand over control of seven buildings with some $1.06 billion in debt to creditors, the latest sign [...]

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The Coming Commercial Real Estate Bailout

Whenever Bernanke heads to the Hill for these Humphrey Hawkins road shows there’s a theme that pops out amid all the banality. It’s usually indicative of the hot button for politicians and these days that theme provides a good clue of the next potential bailout. The theme this week was commercial real estate. It’s almost [...]

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Commercial Real Estate Won’t Blow Off Leverage

Felix Salmon has a post up tonight along the same lines of one I put up earlier today (link). He talks about the currently in vogue investment idea of raising money for REIT’s to invest in distressed real estate. You can check back on my blog post for the details or go to Felix’s and [...]

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CRE Data Points And More Vultures Circling

There are two ways to judge the state of commercial real estate. Look at the statistics and look at the vultures starting to circle. For statistics, let’s consider those cited for Phoenix in the Arizona Republic today (sorry no link available). The commercial vacancy rate increased from 19.9% in the first quarter to 21.4% in [...]

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