Wednesday, August 26th, 2009
The growing wave of U.S. hotels defaulting on their debt has spawned a growth industry for companies that oversee and operate hotels seized by lenders.
Archive for August, 2009
Friday, August 21st, 2009
A Tishman Speyer-led partnership is in default on debt tied to a large office portfolio in the Washington area. Tishman itself isn’t at risk.
Thursday, August 20th, 2009
CNBC’s Senior Futures Editor, Albert Bozzo wrote an article today discussing the dichotomy of housing’s budding rebound and the overall real estate market. Mr. Bozzo lists items such as government intervention, evidenced in the $8,000 tax credit for first time home buyers, as reasons for some apparent life in the housing market. The overall housing market (which includes commercial, retail, service industries, suppliers and so on) remains in a fiscal slump due to the recession at large. He subsequently identifies an expansion of the government tax credit program as a driver for continued growth in housing sales. I can see Mr. Bozzo does not understand basic macroeconomic theory.
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Tuesday, August 18th, 2009
Memphis, TN is an extremely hot market for rehabs, flipping and rentals. We have been successful in breaking into the Memphis RE market and have done a couple of deals there. That place is a veritable goldmine! Check the video of our recent deal that was purchased for $38,000, fixed up with about $3,600 of capital. And now it is about to be flipped before the end of the week.
Our strategy has been to purchase only occupied properties. This has worked out great! This particular one was able to have a tenant move in within 3 weeks!
-Richard
P.S. – This video was shot over 6 weeks ago. Don’t bother calling!
Thursday, August 13th, 2009
Toll Brothers reported that net orders for new homes rose 3% in its latest quarter. The firm's CEO said "the mood has changed" among prospective buyers.
Thursday, August 13th, 2009
The Fed is getting actively involved in the Extended Stay bankruptcy, taking an awkward role as it tries to shore up the financial system.
Thursday, August 13th, 2009
J.P. Morgan Chase is marketing 23 office properties across the nation in an effort to rid itself of excess space amid the worst property market in decades.
Wednesday, August 12th, 2009
Kaiser Foundation Health Plan has signed Washington's biggest lease of the year in a speculative office development in Union Station.
Wednesday, August 12th, 2009
Barry Sternlicht's Starwood increased the size of its initial public offering of a real-estate investment trust to $800 million, marking the biggest IPO to hit the market this year.
Wednesday, August 12th, 2009
European property stocks have turned in a strong performance this year, but now investors and analysts are wondering if the rally has run its course.
