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).

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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:

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.

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.