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  • California Pension Funds’ CRE Portfolios Outperform, but for How Long?

    Thursday August 17, 2017

    The nation’s two largest public pension funds reported strong returns from their real estate investments for their fiscal years ended June 30. The California Public Employees' Retirement System (CalPERS) reported preliminary net returns of 7.6% for its real estate holdings - 43 basis points over its benchmark performance. CalPERS holds $331.7 billion in total assets with real estate making up $30.1 billion of that. The California State Teachers... Read More

  • CMBS Full Year Analysis: Securitized Properties Continue to Post Cash-Flow Growth

    Tuesday August 15, 2017

    Full-year 2016 cash flow numbers are in for about 75% of loans securitized in CMBS deals with most borrowers reporting higher than the historical growth average for most property types, however the pace of growth is down slightly from record growth in 2015. The CMBS market experienced 3.4% net cash (NCF) flow growth in 2016, according to bond rating agency DBRS Inc. Although this is higher than the historical average of 1.1% since 2000, 2016 growth... Read More

  • DineEquity Doubling Applebee’s Restaurant Closures

    Tuesday August 15, 2017

    DineEquity Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, announced more aggressive restaurant closure plans this past week, more than doubling the count of Applebee’s it expects to close this year, from originally planning 40 to 60 closures to 105 to 135. The firm also upped IHOP closure estimates from 18 to about 25. "We believe 2017 will be a transitional year for Applebee's and we are making... Read More

  • Colony NorthStar Forecloses on $1.3 Billion Hotel Portfolio

    Monday August 14, 2017

    Colony NorthStar Inc. (NYSE:CLNS) foreclosed on a $1.3 billion, 148-property limited-service hotel portfolio. The hotels were owned by Whitehall Street Global Real Estate LP 2005 and Whitehall Street Global Employee Fund 2005, of which Goldman Sachs was the major investor. Whitehall began acquiring thr portfolio in 2006. [Editor's Note: An earlier version of this story referred to the portfolio as the "Tharaldson Portfolio." Tharaldson Hospitality... Read More

  • Once a Niche Play, Real Estate Debt Becoming Institutional Investor 'Superfood'

    Thursday August 10, 2017

    In the first half of 2017, TH Real Estate, an affiliate of asset manager Nuveen, reported that it had closed and committed 43 transactions in its commercial debt portfolio totaling $3.8 billion. The real estate debt investments span the industrial, office, retail and multifamily/student housing sectors in the U.S. and U.K. "The sector used to be more of a niche play but now an allocation to CRE debt is more frequently becoming part of institutional... Read More

  • Wireless Stores and Discounters Among Most Active Retailers Leasing Space

    Wednesday August 09, 2017

    While the innovation ushered in by e-commerce and online shopping has unleashed a wave of 'creative destruction' through traditional brick-and mortar retail tenants, it has also seen others spring up to take their place, most notably wireless service plan and cellphone stores. In an analysis of 15,000 retail leases signed so far this year by CoStar Group, a total of 170 retail tenants signed six or more leases in the first six months of the year... Read More

Alabama Commercial Real Estate News

  • Nearly a Dozen States Compete for Planned $1.6 Billion Toyota-Mazda Assembly Plant

    Sunday August 13, 2017

    Elected officials and business recruiters in at least 11 Midwestern and southern states are wooing Japanese automakers Toyota Motor Corp. and Mazda Motor Corp., which announced a joint venture to build a $1.6 billion U.S. factory to produce Toyota Corollas and cross-over models that Mazda plans to introduce to the North American market. Pending approvals and authorization by government agencies, the companies will begin to examine detailed plans... Read More

  • Inland Residential Properties Closes on Largest Single Multifamily Transaction in Montgomery, AL History

    Friday August 11, 2017

    Inland Residential Properties Trust has paid the highest price ever for a large scale multifamily building in Montgomery, AL. The Oak Brook, IL-based non-listed real estate investment trust sponsored by Inland Real Estate Investment Corp., struck a deal with Flournoy Cos. out of Columbus, GA to acquire The Verandas at Mitylene for $36.6 million, or about $110,000 per unit. This gated community consists of 14 three-story buildings with 24 one... Read More

  • CoStar's People of Note (Aug. 4) - TIG Taps Hazen, MassDev Promotes Liss...

    Friday August 04, 2017

    It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Houston, Boston, San Francisco, Phoenix / Tucson, Denver, New York City, Dallas / Ft. Worth, San Antonio, Southern Florida, Tulsa / Oklahoma City, Philadelphia, Houston, Atlanta, Orange County and Northern New Jersey. HOUSTON Transwestern Investment Group Names Hazen... Read More