Wednesday, July 27, 2011
Friday, July 22, 2011
Total Global Commercial Real Estate Sales Could Reach $440 Billion this Year
Hopeful news for real estate magnates like Andrew Farkas — estimates put total global commercial real estate sales at $440 billion for this year after the second quarter finished up with a $101 billion worldwide total. Sales are up 47 percent compared to numbers from a year earlier, and direct investment was up 46 percent from the first quarter.
The increase is chiefly do to a rise in sales in the Americas — the United States, Canada and South and Central America — which raked in $49 billion in direct investment in commercial real estate. Though this region was one of the slowest to begin its recovery from the global economic crisis, the strengthening of lending markets allowed the crucial debt financing to make deals.
Finishing with a slightly higher total compared to last year, Europe, the Middle East and Africa rounded out at a $34 billion investment total. Though investment in the Middle East remained mostly unchanged, Japan saw a huge decline — 30 percent, to be exact — because of the earthquake that devastated the region. Europe also was hurting during the second quarter due to the stagnant economic situation in Greece and other euro zone countries.
But the swift increase in global commercial real estate totals compared with last year provides positive news for those in the real estate industry like Andrew Farkas, who is the CEO and Chairman of Island Capital Group, LLC.
NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development and syndication firm serving the Rio Grande Valley and based in McAllen, Texas. Our mission is to transform real estate opportunities into profits for owners, users and investors. |
U.S. Commercial Property Prices Increased 6.3% in May, Moody’s Says
By Brian Louis - Jul 20, 2011
U.S. commercial property prices increased in May for the first time in six months as a rebound in distressed real estate helped boost values, according to Moody’s Investors Service.
The Moody’s/REAL Commercial Property Price Index rose 6.3 percent from April, the largest gain since the measure began in 2000. It’s down 11 percent from a year earlier and 46 percent below the peak of October 2007, the company said today.
The index, which measures broad price trends, had fallen to a record low in April as sales of distressed properties undermined real estate values. Distressed deals in May began contributing to rather than delaying a price recovery, according to the Moody’s report.
“A number of transactions that were recorded in May had their most recent prior sales in 2009 as the market was beginning to bottom and subsequently traded for substantial returns,” Tad Philipp, director of commercial real estate research at Moody’s, said in a separate statement. “We are likely to see a pickup in post-peak repeat sales and expect such transactions to play an important role in helping drive the CPPI higher.”
The index tracks repeat sales, which totaled 174 in May. About 27 percent of deals involved distressed properties, which Moody’s defines as assets in which a default, foreclosure proceeding or bankruptcy of the owner has occurred. The share was down from 30 percent in April. The dollar volume of repeat sales of all properties jumped 33 percent, Moody’s said.
CoStar Report
CoStar Group Inc. (CSGP) also reported rising prices in May. Values of investment-grade commercial properties in the U.S. rose 4.4 percent from the previous month and 5 percent from a year earlier, the Washington-based data company said July 13. Prices were down 35 percent from the peak of August 2007.
CoStar, unlike Moody’s, tracks transactions of less than $2.5 million. The company’s measure of values for all commercial properties rose 1.6 percent from April. It is down 6.8 percent from a year earlier and 34 percent from its highest point.
The dollar volume of sales increased along with the average transaction size, CoStar said in its report. Investment-grade deals averaged $33.2 million in May, almost double April’s $16.9 million.
Green Street Advisors Inc., a real estate research company in Newport Beach, California, reported commercial property values were ...
NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development and syndication firm serving the Rio Grande Valley and based in McAllen, Texas. Our mission is to transform real estate opportunities into profits for owners, users and investors.
Thursday, July 21, 2011
NAI Global Joins Forces with Intelligent Edge
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, and Intelligent Edge Advisors, an investment banking firm specializing in asset monetization, today announced the creation of NAI Intelligent Edge, a platform offered exclusively to wealth managers and financial advisors to serve the diverse needs of their clients who own commercial real estate.
Intelligent Edge was created to collaborate with wealth managers and financial advisors to execute liquidity events on behalf of their clients who own businesses, real estate and large positions in publicly-traded stock.
NAI Intelligent Edge combines NAI Global’s vast spectrum of commercial real estate services with Intelligent Edge’s specialization in the tax-efficient monetization of concentrated wealth.
By collaborating with NAI Intelligent Edge, wealth managers and financial advisors have access to services that will allow them to grow and protect the value of their clients’ commercial real estate holdings, as well manage these assets to align with the short-term and long-term financial planning goals of their clients.
“Clients of advisors own vast amounts of real estate which often comprises a significant portion of their worth. Over the next decade baby boomers will sell or monetize trillions of dollars of real estate to fund retirement. Working with NAI Intelligent Edge empowers advisors to expand their asset oversight capabilities into commercial real estate,” said Peter L. Ruggiero, Managing Director of NAI Global Capital Markets.
“The wealth management business is very competitive and is becoming more holistic as advisors differentiate themselves. Increasingly, advisors are taking on the role of the family CFO and are viewed as the trusted advisor clients turn to for advice on an increasing array of wealth planning issues. NAI Intelligent Edge positions advisors to proactively assist real estate owners to maximize the utility of their real estate holdings in the context of their overall wealth planning goals,” commented Ruggiero.
“Over the past few years owners of sub-investment grade commercial real estate have seen the value of their properties plummet, and in many instances the prospects for a robust recovery in prices are not particularly compelling. NAI Intelligent Edge works with advisors to help owners compare the risk / reward of continued ownership of their real estate assets versus cashing out and deploying the proceeds into other asset classes,” said Thomas J. Boczar, CEO of Intelligent Edge Advisors.
Services available through NAI Global include sales and monetization strategies, valuations, corporate solutions, property management, project management, leasing/tenant representation and workout/restructuring services. For more information, visit www.naiglobal.com.
NAI Intelligent Edge is based in Intelligent Edge’s New York City office at 420 Lexington Avenue, Suite 400, New York, NY 10170. For more information, visit www.intelligent-edge.com.
Tuesday, July 19, 2011
Wednesday, July 6, 2011
Maximus to establish 400-employee call center in Rio Grande Valley
San Antonio Business Journal
Date: Tuesday, July 5, 2011, 1:35pm CDTMaximus Inc. plans to open a new customer contact center in Edinburg in August to support the Texas Health and Human Services Commission.
The company will employ up to 400 people in the Renaissance Industrial Park in Edinburg by the end of 2012. Employees will help eligible Texans enroll in Medicaid, SNAP food benefits and Temporary Assistance for Needy Families. This location will be the fourth site the company operates as part of its contract with the state.
Maximus currently operates customer contact centers in Austin, Midland and Athens, Texas, and employs more than 2,200 people statewide. Edinburg is located in the Rio Grande Valley in South Texas.
Maximus (NYSE: MMS) provides health and human services program management and consulting services to clients in the United States, Canada, Australia and ...
Monday, July 4, 2011
Stakeholders meet to discuss 400-acre research and education park
McALLEN, June 27 – Stakeholders involved in the planning of a 400-acre research and education park were invited to a reception at the McAllen Chamber of Commerce last week.
Stephen Coulston, of Broaddus Planning, provided a power point presentation of what the park might look like. The park, to be located adjacent to the McAllen Foreign Trade Zone, would be a mixed use development, with retail, commercial, education, industry, research, and housing among its components.
“This is about a shared vision and a collaborative process of bringing together a group of people with great ideas to identify opportunities for growth that will create jobs through synergies in education, research and industry. It is about collaboration and partnerships, essentially,” Coulston told the Guardian, at the end of his presentation.
Coulston said his company has been involved in something broadly similar – the Research Valley Bio Corridor currently being developed in College Station-Bryan. However, that park is focusing on the bio tech industry, whereas the McAllen park will focus on advanced manufacturing.
Coulston said his company, which is based in Austin, Texas, provides a research park market assessment and conducts physical master planning. “The science and the art we do is to capture the vision and strategies of clients like this group here and cast those into a physical planning environment and strategy for moving forward,” he said.
The McAllen park will be unlike anything else seen in the Valley, Coulston said, because ...
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Friday, July 1, 2011
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