Pension funds who had been hit hard by the downturn in real estate are apparently venturing back into the asset class. The Wall Street Journal reported today that Cadillac Fairview Corp., which is owned by Ontario Teachers’ Pension Plan, bought a 49% stake in Queens Center Mall from Macerich Co., a client that I have [...]
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The Business Insider posted an interesting chart today showing the rapid rate at which commercial real estate loans are going into default. Deutsche Bank, a company that I have represented in the past on several deals, which has been generally very pessimistic about the condition of the real estate markets had to revise its projections [...]
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Another report by Reuters today states that commercial real estate prices dropped a record amount in the second quarter of 2009. According to a study by the Massachusetts Institute of Technology Center for Real Estate, commercial real estate prices fell 18.1% in the second quarter, off nearly 39% from the markets peak in mid-2007. Although [...]
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Another day and another article sounding the alarm of the impending collapse of the commercial real estate markets. Reuters reported today that the worst is yet to come for real estate loans. Analysts estimate that banks will likely continue to take write-downs on commercial loans for the next two years and the number of such [...]
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