Friday thoughts and musings
The weather is holding for now, so I'm going to be brief today and try to enjoy the weather while I can. (I also know I have several deals that will keep me chained to my desk all week next week.) I apologize in advance for the shotgun approach to blogging and the lack of analysis.
First, Jordan Crouch has a great explanation for beginners on CMBS loans. Great job. Call it CMBS for Dummies.
Next, check out a good story on the ripple effect of the Blackstone-EOP deal at Commercial Property News. The moral? We may not see the likes of it soon because of the credit crunch, but real estate people now know that at least theoretically, no deal is too large to do. (But would you want to?) There is also some good information on the flips and the "Blackstone effect" of rising rents in some markets.
CoStar's watch list for this week contains a fairly lengthy summary of bank views on the lending market as it stands today.
After only eighteen months of ownership, the landmark (and stunning) Rookery Building in Chicago is being sold again. According to the story, Broadway Partners bought the building for $56 million and they are selling to Metzler North America for about $73 million. Even with the money they had to spend on leasing up the building from 65% to 97%, that is probably still one heck of an IRR for an eighteen month hold.
First, Jordan Crouch has a great explanation for beginners on CMBS loans. Great job. Call it CMBS for Dummies.
Next, check out a good story on the ripple effect of the Blackstone-EOP deal at Commercial Property News. The moral? We may not see the likes of it soon because of the credit crunch, but real estate people now know that at least theoretically, no deal is too large to do. (But would you want to?) There is also some good information on the flips and the "Blackstone effect" of rising rents in some markets.
CoStar's watch list for this week contains a fairly lengthy summary of bank views on the lending market as it stands today.
After only eighteen months of ownership, the landmark (and stunning) Rookery Building in Chicago is being sold again. According to the story, Broadway Partners bought the building for $56 million and they are selling to Metzler North America for about $73 million. Even with the money they had to spend on leasing up the building from 65% to 97%, that is probably still one heck of an IRR for an eighteen month hold.
Comments
Post a Comment