The Wall Street Journal reports: Overleveraged private real-estate funds are gasping for money, but public property companies have been chugging down cash from the capital markets. Now, they are poised to emerge as more-dominant players when the commercial-property-market starts to recover.
REITs (real-estate investment trusts) are poised once again to pick up the pieces from the commercial-property bust. This year, they have tapped the stock market for nearly $15 billion in new equity and, this month have raised $2 billion in unsecured debt. The equity deals diluted shareholders’ ownership stakes, but positioned many REITs — such as mall owner Simon Property Group Inc. and warehouse landlord ProLogis — to avoid loan defaults and have buying power when distress hits the market. Read more at Real Capital Analytics.
Archives for October 2009
Mesa del Sol – Fidelity office building wins national award
Fidelity Investment’s™ office building at Mesa del Sol, Albuquerque, NM has been selected for the national sustainability award by NAIOP Commercial Real Estate Development Association. The office building was designed for Fidelity Investments by Dekker/Perich/Sabatini. It is a two-story, 217,892-square-foot building that was originally planned for silver LEED designation (Leadership in Energy and Environmental Design), but will now seek the next level, gold LEED.
Financial impact of NM films
Gov. Bill Richardson said the new policy will give taxpayers a detailed look at what film companies are spending in New Mexico to qualify for the credits. The state offers productions a 25 percent credit for qualified New Mexico expenses, including salaries for local crew, facilities, lodging, construction materials and equipment rentals.
Albuquerque Named Best Places to Live – US News
In selecting our Best Places to Live for 2009, U.S. News took a thrift-conscious approach: We looked for affordable communities that have strong economies and plenty of fun things to do. The cities we selected are as distinct as America itself’”ranging from a quaint suburb to a live-music mecca. But whether you prefer hiking through the Rocky Mountains, pulling a fish out of the Atlantic Ocean, or grilling hot dogs at a college football tailgate, here are 10 places that will fill up your daybook without emptying your wallet. Read more.
