Urban Land - Capital Markets

Monday's Numbers: May 20, 2013

Stephen Blank — 20130520122000

ULI senior fellow Stephen Blank's highlights from panel discussions at ULI Spring Meeting, including an increasing flow of foreign capital into the U.S. real estate markets, increasingly competitive Euro-lending business, and the pricing of real estate debt.

Monday's Numbers: May 6, 2013

Stephen Blank — 20130506111300

Insurance companies seem to be nearing lending capacity, while securitized lenders continue their comeback as more and more companies establish platforms and more and more institutional investors enjoy the relative value of “super senior” commercial mortgage-backed securities.

Monday's Numbers: April 29, 2013

Stephen Blank — 20130429120100

The National Council of Real Estate Investment Fiduciaries released its first-quarter results for the National Property Index. Returns for the quarter ended March 31 equaled 2.57 percent, composed of appreciation equal to 1.18 percent and income equal to 1.39 percent; almost the same as the prior quarter.

Monday's Numbers: April 22, 2013

Stephen Blank — 20130422125000

Industry forecasts are normally made in January (the beginning) or July (the mid-way point) of the year. But why not get a jump on things and forecast the balance of the year as well as 2014 from the viewpoint of the end of April? ULI senior fellow Stephen Blank shares his views on the economy, real estate industry, and the state of the capital markets.

Monday's Numbers: April 15, 2013

Stephen Blank — 20130415123100

Priced to perfection can easily turn into “priced to disappoint” as competition encourages investors to accept lower and lower yields as the price of entry. But our concern extends past the point of acquisition, as an investor can live with paying a little too much for a property by accepting a lesser initial return on investment.

Real Estate Business Barometer: April 2013

Anita Kramer — 20130408131200

Multifamily commercial transactions vaulted last month, even as all other sectors declined, but buyer appetite showed overall strength. The stall in employment growth and decline in unemployment rate does raise questions.

Real Estate Business Barometer: April 2013

Anita Kramer — 20130408131200

Monday's Numbers: April 8, 2013

Stephen Blank — 20130408123300

This week’s Trepp survey showed spreads unchanged. With an average spread of 164 basis points and ten-year U.S. Treasury bonds coming in 10 basis points, “all in” pricing of 3.5 percent or less for low loan-to-value loans is more than a little attractive from the borrower’s point of view and warranted from the lender’s perspective.

Monday's Numbers: April 1, 2013

Stephen Blank — 20130401102500

Maybe it was the upcoming holiday weekend. Maybe it was worries about Cyprus’s failing financial health. Maybe it was watching the S&P 500 index reach record levels. Whatever it was, this was the quietest period we’ve seen in a very long time.

Monday's Numbers: March 25, 2013

Stephen Blank — 20130325101200

A recent Wall Street Journal article expressed concerns by the Federal Reserve and other financial regulators about a potential deterioration in financial controls and underwriting quality for loans used to finance management buyouts, mergers and acquisitions, capital investment, and the like.