CRE

CRE
Tyler Durden's picture

Green Street Advisors On CRE "Nothing Is Trading; Prices Are Likely Down 35-40%"





As if anyone needed more confirmation just how bad commercial real estate is. Also includes a brief survey on the collapse of the SoCal regional market.

hat tip Alex

 
Tyler Durden's picture

Mike Kirby Of Green Street: "CRE Down 40%, To Drop More"





When REIT consultant Green Street Advisors talks, even the book pumpers listen. Bloomberg reports that Chairman and Director Of Research Mike Kirby, during his keynote address at the UCLA Economic and Real Estate Forecast Conference has noted that not only are CRE property prices down 35-40% already, but in fact have more room to drop.

 
Tyler Durden's picture

Some More CRE Venus Fly Trap Shoots





Between RealPoint and TREPP, any investor who has the reading comprehension of an 8 year old, the excel skills of a moderately well-trained primate and access to either or both of these databases, should be able to extract sufficient data that will promptly indicate just what commercial real estate is shooting up these days. Whatever it is, it sure ain't green.

 
Tyler Durden's picture

Some More CRE Venus Fly Trap Shoots





Between RealPoint and TREPP, any investor who has the reading comprehension of an 8 year old, the excel skills of a moderately well-trained primate and access to either or both of these databases, should be able to extract sufficient data that will promptly indicate just what commercial real estate is shooting up these days. Whatever it is, it sure ain't green.

 
Tyler Durden's picture

RealPoint Downgrades Hundreds of CMBS Classes, CRE Deterioration Accelerates





Commercial real estate powerhouse RealPoint has downgraded several hundred deals and CMBS classes in its April evaluation of the sector.

Realpoint CMBS zerohedge

 
Tyler Durden's picture

RealPoint Downgrades Hundreds of CMBS Classes, CRE Deterioration Accelerates





Commercial real estate powerhouse RealPoint has downgraded several hundred deals and CMBS classes in its April evaluation of the sector.

Realpoint CMBS zerohedge

 
Tyler Durden's picture

Sam Zell: "Very Few CRE Financings In 2003-2007 Are Above Water"





Following up on the theme Zero Hedge discussed that the vast majority of commercial real estate backed loans have negative equity, real estate tycoon Sam Zell yesterday, in a presentation to the Milken Institute, said that "you have a scenario today where you have very few '03 to '07 financings that are above water.

 
Tyler Durden's picture

Will TALF 3.0 Be Enough For A CRE Lazarus Act





Several reports came out today on CNBC and other MSM conduits about a brand new government effort which may consider expanding the already many-times revised TALF program to capture all sorts of commercial real estate securities, including the uber toxic ones, and extend the duration on TALF loans from the established 3 years to 5 or more years.

 
Tyler Durden's picture

CRE Performance By Property Type






prepared by Lehman bros.

In other CRE news, EuroHypo says GGP press release disclosing it is owed $2.6 billion by the bankrupt mall operator is "not correct". Gotta love when two multibillion enterprises (well, one is not so multibillion any more) publicly accuse each other of lies.

 
Tyler Durden's picture

CRE Performance By Property Type






prepared by Lehman bros.

In other CRE news, EuroHypo says GGP press release disclosing it is owed $2.6 billion by the bankrupt mall operator is "not correct". Gotta love when two multibillion enterprises (well, one is not so multibillion any more) publicly accuse each other of lies.

 
Tyler Durden's picture

What John Hancock Tower Sale Implies For CRE





Zero Hedge's feelings about commercial real estate are no secret. Yesterday's sale of the John Hancock Tower to Normandy was an interesting market test, with media reports claiming it implied either nothing much or only good things about CRE and CMBS recoveries. A contrarian (and realistic) analysis on the transaction out of Morgan Stanely implies that based on this deal, not all is good in CRE land. (hat tip to reader David).

****

 
Tyler Durden's picture

The Fundamentals Behind CRE - Part 1





Continuing the trend of disclosing the dirty laundry in Commercial Real Estate, I am presenting some raw data which the general readership should be made aware of before determining how fair (or not) any PIPP, TALF or other plan is to various beneficiaries.

Here is the summary:

 
Tyler Durden's picture

GS: 2009 Outlook: Bearish On CRE; REITs Could Re-test Recent Lows





Goldman has been really pounding the REIT space. Which, of course, skeptics will say simply means their prop desk (or what is left of it) is buying REIT assets hand over fist. Or maybe they just really hate the space.

 
Tyler Durden's picture

GS: 2009 Outlook: Bearish On CRE; REITs Could Re-test Recent Lows





Goldman has been really pounding the REIT space. Which, of course, skeptics will say simply means their prop desk (or what is left of it) is buying REIT assets hand over fist. Or maybe they just really hate the space.

 
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