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10 Must Reads for the CRE Industry Today (September 17, 2015)

10 Must Reads for the CRE Industry Today (September 17, 2015)

  1. ULI Panel to Explore the Gender Gap in CRE “The gender gap in commercial real estate has narrowed substantially over the last decade. But, according to experts, there is still work to do.” (Commercial Observer)
  2. Prudential Real Estate’s New Life in Cambridge “Prudential Real Estate Investors has just grabbed Twenty|20, a brand new luxury multifamily property in Cambridge, Mass., for its ever-growing portfolio. PREI, the investment business of Prudential Financial, purchased the 355-unit property from Canyon Partners Real Estate L.L.C., which developed the tower at a cost of approximately $147.3 million. The acquisition price was not disclosed.” (Commercial Property Executive)
  3. Moody’s Report Is Raising Concerns Over Lending “A new report from Moody’s Investors Service is raising concerns over commercial real estate lending, since it shows banks becoming as overextended on commercial real estate properties as they were during the 2007 financial crisis. By calculating the market wide loan-to-value ratio—adjusted for normalized, historical rates of returns—Moody’s found the ratio has exceeded 100% for two years.” (Bisnow)
  4. Griffin-American Doubles in Size “Griffin-American Healthcare REIT III, Inc., will nearly double its holdings when it completes an agreement with joint venture partner NorthStar Healthcare Income, Inc., to acquire Trilogy Investors, L.L.C., for $1.13 billion.” (Commercial Property Executive)
  5. The $1 Trillion Idea “Roughly 30 years ago, Michael Colacino, now the president of the global commercial real estate services firm Savills Studley, stumbled upon an idea that was ingenious and straightforward enough for almost anyone to understand it: Bundling up leases and selling them to investors—just like securitized mortgages.” (Commercial Observer)
  6. Carlyle Raises $4.2 Billion for Seventh U.S. Real Estate Fund “Carlyle Group LP raised $4.2 billion for its seventh U.S. real estate fund, meeting the top end of its target range, in preparation for more property purchases at a time when prices are at record levels.” (Bloomberg)
  7. The Typical Household Makes Less than It Did Before the Recession “The typical American household, six years after the Great Recession, is still worse off, according to a report released Wednesday.” (Market Watch)
  8. SL Green to Sell Two Fifth Avenue Dev Sites for $125 MillionLess than a month after closing on the largest single-building transaction in New York history, 11 Madison Avenue, SL Green Realty is again making deals, hoping to raise cash to invest in its new marquee property.” (The Real Deal)
  9. ACKMAN: The US Government Is Perpetrating 'the Most Illegal Act of Scale' with Fannie and Freddie “Hedge fund titan Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac.” (Business Insider)
  10. Tech Firms Venture Into New Territory: Lending “Intuit, PayPal and Square already know how much money millions of small businesses are bringing in each day. Now these tech firms are stepping up efforts to mine that data to get into the lending business.” (Wall Street Journal)
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