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From TreppWire: Preliminary Data Points to Large Jump in Loss Severities in August Spoiler alert. We usually don’t do sneak previews, but the alarming number of loans resolved this month with big losses piqued our interest. We’ve written about a number of them already this month: the 83% loss on the Westin O’Hare loan, the [...] In 2008, Marion Moskowitz was very concerned. She and her husband, Dave, had recently purchased a 225,000 square foot former textile mill for $2 million and were in the process of converting it into multi-tenant use. At the time their project, Franklin Commons, had only four tenants, leasing a total of 20,000 square feet. Meanwhile, [...] Real estate investors typically have longer investment time horizons than investors in publicly traded equities, bonds and funds. While it is possible to buy and sell a stock within a few hours, and typical to liquidate these investments within several months, real estate investments are typically held for a decade or more. Consequently, it makes [...] This report on commercial mortgage backed securities came in today from Trepp, Inc. which follows this market. It measures delinquencies of commercial real estate loans that comprise the large mortgage pools that make up securitized mortgage investment trusts. It is a good measure of the overall health of the CRE market, [...] Here is another commercial real estate credit report from Trepp on CMBS. This deal is off about 60% from its 2006 value. Never invest in a project that uses the words “Galleria” or “Centre” or “Pointe.” “Officentre”? Sounds more like “off center.” Michigan Office Sees Value Shaved By More Than Half The $86.2 million Galleria [...] Shopping around no longer requires going from store to store searching for the lowest price. If you have a smart phone equipped with a web browser and a robust Internet connection, you can find what you like in one store and then comparison shop, and even make a purchase, on the web.All of this is [...] The Daily Capitalist wishes to welcome Douglas McKnight as a new constributor. Doug will mostly discuss commercial real estate within the context of Austrian economic theory. Doug has been a commercial real estate appraiser for 23 years. He previously served as a director for the national appraisal firm Marshall & Stevens. [...] Every now and then I like to update you on the real world of commercial real estate. One of the ways to do that is to follow the big investment pools that have invested in CRE. Trepp, a company that follows these investment pools, provides some excellent data regarding the properties that underlie these pools [...] |
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