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Monthly Archives: November 2012

Lehman Agrees to Sell Archstone

Lehman Brothers Holdings Inc. agreed to sell its Archstone Inc. unit to Equity Residential and AvalonBay Communities Inc. for $6.5 billion.

According to Dan Fasulo, a managing director at global commercial property analytics and data firm Real Capital Analytics Inc. including debt, the Archstone sale is the biggest real estate deal since Blackstone Group LP’s $26 billion acquisition of hotel company Hilton Worldwide Inc. in July 2007.

German Real Estate Lending Survey Commences at IREBS

A group of five leading European property firms have come together to co-sponsor a University-lead project aimed at analyzing the commercial property lending market in Germany. Initiated by Real Capital Analytics and co-sponsored by DTZ, Jones Lang LaSalle, Savills, and independent German research and consulting company BulwienGesa, the research will be carried out by the International Real Estate Business School (IREBS) at the University of Regensburg.

The University’s team will be led by Prof Dr. Tobias Just and Prof Dr. Steffen Sebastian.

“We need a better understanding of our real estate debt markets, as debt financing can lead to severe real estate and macroeconomic cycles,” said Professor Just. “So far, we only have very limited data on the maturity structure, the regional concentration or the asset focus of debt financing. With this survey we aim to bridge part of this data gap and enable all market participants and regulators to get a better understanding of the risks and opportunities of debt financing in Germany.”

The final report, due to be launched at Expo Real 2013, will focus on detailing the size and structure of the commercial property lending market in Germany. Statistics on the value of loans outstanding, market composition, recent lending activity and typical loan terms will fall within the initial scope of the research.

“We are delighted these respected industry academics have gained the support of this broad sponsorship group” said Joseph Kelly, Director of Market Analysis at Real Capital Analytics. “Industry driven, the research findings will provide an essential window into aggregate lending patterns in Germany.”

Bill Maxted author of the UK Commercial Property Market Lending Report, which has been produced at Leicester Business School, De Montfort University since 1999 will support the IREBS research team in a consultative capacity.

“I am very pleased that the research in Germany is about to commence,” said Mr Maxted. “Our experience in the UK is that an in-depth study of lending by banks and other financial institutions to the commercial property investment and development industry has made a large contribution to the understanding of this nationally important and complex market. Germany is a very important European property market. I am sure that this new research in Germany will do the same and I wish it every success.”

German Real Estate Lending Survey Commences at IREBS

A group of five leading European property firms have come together to co-sponsor a University-lead project aimed at analyzing the commercial property lending market in Germany. Initiated by Real Capital Analytics and co-sponsored by DTZ, Jones Lang LaSalle, Savills, and independent German research and consulting company BulwienGesa, the research will be carried out by the International Real Estate Business School (IREBS) at the University of Regensburg.

The University’s team will be led by Prof Dr. Tobias Just and Prof Dr. Steffen Sebastian.

“We need a better understanding of our real estate debt markets, as debt financing can lead to severe real estate and macroeconomic cycles,” said Professor Just. “So far, we only have very limited data on the maturity structure, the regional concentration or the asset focus of debt financing. With this survey we aim to bridge part of this data gap and enable all market participants and regulators to get a better understanding of the risks and opportunities of debt financing in Germany.”

The final report, due to be launched at Expo Real 2013, will focus on detailing the size and structure of the commercial property lending market in Germany. Statistics on the value of loans outstanding, market composition, recent lending activity and typical loan terms will fall within the initial scope of the research.

“We are delighted these respected industry academics have gained the support of this broad sponsorship group” said Joseph Kelly, Director of Market Analysis at Real Capital Analytics. “Industry driven, the research findings will provide an essential window into aggregate lending patterns in Germany.”

Bill Maxted author of the UK Commercial Property Market Lending Report, which has been produced at Leicester Business School, De Montfort University since 1999 will support the IREBS research team in a consultative capacity.

“I am very pleased that the research in Germany is about to commence,” said Mr Maxted. “Our experience in the UK is that an in-depth study of lending by banks and other financial institutions to the commercial property investment and development industry has made a large contribution to the understanding of this nationally important and complex market. Germany is a very important European property market. I am sure that this new research in Germany will do the same and I wish it every success.”

Lehman Agrees to Sell Archstone

Lehman Brothers Holdings Inc. agreed to sell its Archstone Inc. unit to Equity Residential and AvalonBay Communities Inc. for $6.5 billion.

According to Dan Fasulo, a managing director at global commercial property analytics and data firm Real Capital Analytics Inc. including debt, the Archstone sale is the biggest real estate deal since Blackstone Group LP’s $26 billion acquisition of hotel company Hilton Worldwide Inc. in July 2007.

CalPERS Expected to Close on Most Expensive Trophy Mall Sell in the Last Five Years

CalPERS is expected to close on the most expensive trophy mall to sell in the last five years, according to global commercial property research firm, Real Capital Analytics Inc. The Woodfield Mall was put on the block by the General Motors Co. pension plan as it sought to sell off its illiquid assets.

CalPERS already owns 50% interest in Woodfield Mall in a joint venture with the GM plan. The $500 million transaction is expected to close this quarter, possibly by the end of this month.

“A trophy sale like this comes up every 10 years. It’s a great sign of confidence for the Chicago market in general and investors’ view of trophy or fortress malls in particular,” said Dan Fasulo, managing director at global commercial property research firm Real Capital Analytics. “At first glance it looks like pricing is aggressive, but there are few comparable malls in the middle of the country.”

CalPERS Expected to Close on Most Expensive Trophy Mall Sell in the Last Five Years

CalPERS is expected to close on the most expensive trophy mall to sell in the last five years, according to global commercial property research firm, Real Capital Analytics Inc. The Woodfield Mall was put on the block by the General Motors Co. pension plan as it sought to sell off its illiquid assets.

CalPERS already owns 50% interest in Woodfield Mall in a joint venture with the GM plan. The $500 million transaction is expected to close this quarter, possibly by the end of this month.

“A trophy sale like this comes up every 10 years. It’s a great sign of confidence for the Chicago market in general and investors’ view of trophy or fortress malls in particular,” said Dan Fasulo, managing director at global commercial property research firm Real Capital Analytics. “At first glance it looks like pricing is aggressive, but there are few comparable malls in the middle of the country.”