Debt levels still seem to be at the top of everyone's mind, as the biggest news making the rounds this weekend was a $108 million loan secured by Kimco Realty Corp. Meanwhile, as we move closer to September, some market analysts have begun preparing forecasts for the 2009 holiday shopping season and they are not pretty. While this year will be an improvement over last year's abysmal fourth quarter, early projections tell us not to expect anything better than a 1 percent increase in same-store sales.
- More and more retail properties are experiencing distress, as Ventura County Star reports that a local retail center has entered into receivership after the center's owner defaulted on the construction loan.
- At the same time, however, it seems it's becoming easier for the bigger owners to secure loans greater than $100 million. The Associated Press reported that shopping center REIT Kimco Realty Corp. had just secured such a committment from Prudential Mortgage Capital.
- Meanwhile, RetailSails posted an early forecast for the 2009 holiday shopping season. The outlook is not great promising anywhere from a 1 percent increase to a 1 percent decrease in same-store sales.
- For those in the commercial real estate industry interested in how to best use social media, Real Property Alpha continues its profile series with an interview with real estate attorney Jeff Vinzani.
- Citybizlist reported that Lightstone Value Plus Real Estate Investment Trust agreed to acquire a stake in Prime Outlets Acquisition Company.
- As the short-term prognosis for the commercial real estate industry remains murky, Square Feet Blog pitted the recovery projections of Jones Lang LaSalle Retail CEO Greg Maloney against those of REIS' director of research Victor Calanog.
- And for another update on Kimco, read this report from the Real Estate Channel.