After a very slow start to private equity fundraising in 2013, the funding spigots seemed to open up again this past week. Ten sponsoring investment firms reported raising more than $3.5 billion to pump into the recovering CRE markets. That amount is well more than half of what was reported raised in all of the first quarter.
JPMorgan Packaging Blackstone, Gramercy Loans into New CMBS
More Blackstone-owned hotels and a hefty portfolio of Bank of America offices and branches just re-acquired by Gramercy Property Trust back latest large loan CMBS deal.
Foreign Investors Moving Beyond Top Tier Markets to Buy Office Property In More U.S. Cities
CoStar Group analyzed data reported by CMBS trustees on a random sample of more than 300 property loans financed in 2007 and that have reported full-year 2012 net operating incomes. In that group, full-year NOIs have almost returned to their 2007 levels. In fact, NOIs on almost all yearly vintages of CMBS loans are now near or above underwritten financial levels.
Facility Closures & Downsizings: Clothing Retailer Jones Group Shedding Stores
The Jones Group plans to “reset” its domestic retail business through a reduction of underperforming stores and will streamline certain wholesale divisions and the supply chain Also this week: the latest property availability leads.
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