Finance CMBS
CMBS Veteran Launches Advisory Firm
May 16, 2008

Frederick Fellows has established Basalt Capital L.L.C. (Basalt) in Chicago, Ill., an investment management company focused on commercial real estate debt securities, the firm has announced. Fellows had previously founded Cargan Investment Management L.L.C. in 1999. Basalt, an institutional advisory firm, currently manages commercial mortgage backed security investments for a related investment partnership. Basalt has launched a $500 million high yield CMBS-oriented investment fund and expects to have its first closing within the next several months.

 
Recent CMBS Headlines
Cash Flow More Volatile but Still Stable: Fitch CMBS Study
Aug. 18, 2008
Led by the retail and multi-family sectors, a measure of CMBS investment risk has edged upward for the first time in four years, a study by Fitch Ratings has concluded.
Inland American Sees Opportunity in RE Debt
Aug. 05, 2008
Inland American Real Estate Trust Inc., through a subsidiary, has committed to invest $100 million in Boston-based Concord Debt Holdings L.L.C., whose specialty is the acquisition of real estate securities and other real estate-related loans. The initial investment is $20 million, with as much as $80 million more over the next 18 months.
RayTorto CBRE’s Torto Sees CRE Correction, No Catastrophe
Aug. 04, 2008
More pain is in store for the U.S. commercial real estate market  for the rest of the year, but reports of a meltdown are greatly exaggerated. That is the conclusion of CB Richard Ellis Inc.’s global chief economist, Raymond Torto, in a mid-year report. Difficulties in areas ranging from the job market to CMBS will take time to resolve. Still, the economy should avoid the severity of the doldrums of a generation ago, Torto argued.
 

 

220-Acre Mixed-Use in Works Near University of Missouri
August 20, 2008
By Barbra Murray, Contributing Editor -- A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project. Forum Development Group, the owner of the land, recently wrapped up...

Icahn Nabs AT&T's Dallas HQ in Sale-Leaseback
August 20, 2008
By Tonie Auer, Southwest Correspondent -- Transferring its headquarters from San Antonio to Dallas, telecom giant AT&T Inc. has moved into a 37-story high-rise and sold the building in a sale-leaseback deal to Icahn Enterprises for an undisclosed amount. The...

W.P. Carey Closes $58M Sale-Leaseback in Germany
August 20, 2008
By Barbra Murray, Contributing Editor -- New York City-headquartered W.P. Carey, acting through its publicly held non-traded REITs CPA(R):15 and CPA(R):17 - Global, has completed a sale-leaseback transaction in Germany with U.K.-based automotive supplier Wagon Plc. The properties involved are...

Och-Ziff, Kolter in $1B Southeast Residential JV
August 20, 2008
By Scott Baltic, Contributing Editor -- New York-based Och-Ziff Capital Management Group and Kolter Group of West Palm Beach, Fla., have announced the formation of a $1 billion joint venture that will target residential properties in the Southeast that are...

REal Talk with Adam Perrotta-Tuesday
August 19, 2008
By Adam Perrotta, News Writer --In the latest example of a firm looking to snap up debt in the wake of the credit crunch, Apollo Real Estate Advisors has pumped up funding for its debt investment fund to $930 million....

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...