Friday, March 5, 2010
Integra Bank and First Security Bank Announce Agreement for Purchase of Branches and Loans from Integra
EVANSVILLE, Ind. and OWENSBORO, Ky., March 3, 2010 (GLOBE NEWSWIRE) -- Integra Bank Corporation (Nasdaq:IBNK) and First Security Inc. announced today that First Security Bank of Owensboro, Inc. ("First Security"), the wholly-owned subsidiary of First Security Inc., has agreed to purchase eight banking offices of Integra's wholly-owned bank subsidiary, Integra Bank N.A. ("Integra Bank"). The banking offices include five located in Bowling Green and Franklin, Kentucky and single offices located in Paoli, Mitchell and Bedford, Indiana. In addition, First Security has agreed to acquire a pool of indirect consumer, commercial, and commercial real estate loans from Integra. Read Article Here
General Growth to split into two companies
By Alan Rappeport in Washington
Published: February 24 2010 23:26 | Last updated: February 24 2010 23:26
General Growth Properties, the second largest US mall operator, said on Wednesday that it had agreed to take $2.6bn of capital from Brookfield Asset Management and to split itself into two companies in a move that would allow it to emerge from bankruptcy.
The deal would give Brookfield, a Canadian property manager, a 30 per cent stake in General Growth and offers its stockholders $15 a share. If approved, it could also thwart the $10bn bid made last week by Simon Property, General Growth’s bigger rival which was offering $9 a share. Read Full Article
Published: February 24 2010 23:26 | Last updated: February 24 2010 23:26
General Growth Properties, the second largest US mall operator, said on Wednesday that it had agreed to take $2.6bn of capital from Brookfield Asset Management and to split itself into two companies in a move that would allow it to emerge from bankruptcy.
The deal would give Brookfield, a Canadian property manager, a 30 per cent stake in General Growth and offers its stockholders $15 a share. If approved, it could also thwart the $10bn bid made last week by Simon Property, General Growth’s bigger rival which was offering $9 a share. Read Full Article
Thursday, March 4, 2010
Better Times Ahead for Apartments
Jan 1, 2010 12:00 PM, By Doug Bibby
Fannie Mae, Freddie Mac play a critical role as capital sources.
Though the apartment market is seeing signs of financial stabilization, and the longer-term outlook for apartments remains good, in the short run the statistics are rather bleak.
Transaction volume in 2008 was down by more than 60% compared with the 2007 peak, and volume for the first half of 2009 dropped by 77% compared with the same period a year earlier. Read More Here
Fannie Mae, Freddie Mac play a critical role as capital sources.
Though the apartment market is seeing signs of financial stabilization, and the longer-term outlook for apartments remains good, in the short run the statistics are rather bleak.
Transaction volume in 2008 was down by more than 60% compared with the 2007 peak, and volume for the first half of 2009 dropped by 77% compared with the same period a year earlier. Read More Here
Making Sears Both Bigger and Smaller
By Mike Duff | Mar 1, 2010
Inside Eddie Lampert's Brain: His Plan to Make Sears Both Bigger and Smaller
Eddie Lampert says less is more when it comes to Sears.
The Sears chairman rarely discusses what he thinks of the country’s fourth-largest retailer, so the shareholder letter he writes in the annual report is always keenly awaited. In this year’s version, Lampert makes the case that the retailer can generate new revenues without big investments as it pays down debt. Read More Here
Inside Eddie Lampert's Brain: His Plan to Make Sears Both Bigger and Smaller
Eddie Lampert says less is more when it comes to Sears.
The Sears chairman rarely discusses what he thinks of the country’s fourth-largest retailer, so the shareholder letter he writes in the annual report is always keenly awaited. In this year’s version, Lampert makes the case that the retailer can generate new revenues without big investments as it pays down debt. Read More Here
Wednesday, March 3, 2010
Shopping Center REITs Report Signs of Improvement, but Expect More Store Closings
Shopping center REITs turned in a respectable performance for the fourth quarter of 2009, giving credence to the notion that the worst of the downturn may be over. Yet REIT analysts continue to be cautious about the sector’s prospects for 2010, as the year may bring more closings among smaller shopping center tenants and make re-leasing vacant space difficult. Read More Here
By - Elaine Misonzhnik
By - Elaine Misonzhnik
Tuesday, March 2, 2010
COMMERCIAL MARKET IMPROVEMENT - WILL COME SLOWLY
NAR Chief Economist, Dr Lawrence Yun, predicts high vacancy rates and ubiquitous commercial rent concessions. Slight employment improvements will help absorption rates for office/warehouse space, and SIOR's (Society of Industrial and Office Realtors) recent survey confirms the forecast of easing in this sector. More than half the members of SIOR® expect an improvement in Q2 2010. Rents are down for Office, Industrial, Retail and Multifamily, but not by as much as in Q4 -2009, and the trends are improving slightly. To read the February Commercial Forecast and table on specifics of four commercial sectors, click here.
Monday, March 1, 2010
SVN has been named the 11th most recognized brand
Sperry Van Ness has been named the 11th most recognized brand in commercial real estate in Lipsey Survey. This is ahead of well known brands such as Marcus & Millichap, Costar, LoopNet, Duke Realty and Simon Properties to name a few. Read Survey Here
Buy it Right!
By: J. Steven Martin, Managing Director, Sperry Van Ness/Martin Commercial Group
Peeling back the layers on the subtleties of the buy-side.
The acquisition phase is one of the most important parts of the commercial real estate lifecycle. Most reasonable people would admit that the best way to have a successful outcome to any real estate venture is to get off on the right foot. While it’s certainly possible to “rescue” a troubled project, the best way to safeguard against a troubled scenario is to minimize future risk through the implementation of a sound acquisition plan. In the text that follows, I’ll offer some thoughts about some of the most common acquisition mistakes and how to avoid them.
Put simply, bad acquisitions are not healthy for financial sustainability. I’ve had the displeasure of watching lenders, investors, tenants and owners all suffer through the devastation and turmoil created by a bad acquisition. Whether it was due to lack of planning, leasing the wrong space, lending or investing in the wrong asset class or in the wrong market, getting whipsawed by buying into changing market conditions, paying too much for a property, or missing a critical window of opportunity, a bad acquisition usually spells trouble down the road. The sad part about what I’ve just described is that in most cases, these bad acquisitions could have been easily avoided by filtering them through a well conceived acquisition model.
Before I go any further, I want to dispel the myth that bad acquisitions only happen to inexperienced buyers... this is simply not true. Experience, while certainly a good hedge against a bad acquisition, won’t save you in all instances. Over the years, I’ve observed some very bright industry veterans end up on the wrong side of a bad deal. Don’t believe me? Go ask the smartest real estate investor you know to tell you about the worst acquisition they ever made - I’ll guarantee that if they’re being honest, they’ll have a painfully entertaining story to tell you. Read More Here
Peeling back the layers on the subtleties of the buy-side.
The acquisition phase is one of the most important parts of the commercial real estate lifecycle. Most reasonable people would admit that the best way to have a successful outcome to any real estate venture is to get off on the right foot. While it’s certainly possible to “rescue” a troubled project, the best way to safeguard against a troubled scenario is to minimize future risk through the implementation of a sound acquisition plan. In the text that follows, I’ll offer some thoughts about some of the most common acquisition mistakes and how to avoid them.
Put simply, bad acquisitions are not healthy for financial sustainability. I’ve had the displeasure of watching lenders, investors, tenants and owners all suffer through the devastation and turmoil created by a bad acquisition. Whether it was due to lack of planning, leasing the wrong space, lending or investing in the wrong asset class or in the wrong market, getting whipsawed by buying into changing market conditions, paying too much for a property, or missing a critical window of opportunity, a bad acquisition usually spells trouble down the road. The sad part about what I’ve just described is that in most cases, these bad acquisitions could have been easily avoided by filtering them through a well conceived acquisition model.
Before I go any further, I want to dispel the myth that bad acquisitions only happen to inexperienced buyers... this is simply not true. Experience, while certainly a good hedge against a bad acquisition, won’t save you in all instances. Over the years, I’ve observed some very bright industry veterans end up on the wrong side of a bad deal. Don’t believe me? Go ask the smartest real estate investor you know to tell you about the worst acquisition they ever made - I’ll guarantee that if they’re being honest, they’ll have a painfully entertaining story to tell you. Read More Here
Subscribe to:
Posts (Atom)
