Finance REITs
Vornado to Sell Tysons Dulles Plaza
May 22, 2008
Vornado Realty Trust has announced it is selling its 482,000-square-foot Tysons Dulles Plaza office building complex located in Tysons Corner, Va., for approximately $153 million. The gain on the deal will be approximately $56 million. Closing is expect in the second quarter 2008.
Recent REITs Headlines
Amid Continuing Market Decline, First Industrial Nabs $154M in Financing
June 08, 2009
Despite the ongoing weakening of industrial market fundamentals, banks are warming up to certain players like First Industrial Realty Trust Inc., which has just managed to get its hands on $154 million in the form of three loans secured by assets encompassing a total of 6.3 million square feet.
Signs of Life in 2Q as Sales Volume, Capitalization Jump
June 04, 2009
Despite overall sales figures down double digits from last year, transactions are still move forward, albeit in smaller amounts. Another good sign of real estate activity is the re-equitization of the REIT industry that continued in May as more companies deleveraged their balance sheets with equity capital raised in the public markets.
Lack of Leverage Lends Strength, REIT Week Panel Maintains
June 04, 2009
The bad news is, the United States is in a Great Recession and the commercial real estate market is likely to feel continued pain during the next two years as corporate cutbacks result in weaker fundamentals. The good news is, the public equity markets have been improving in the past few months, with returns bouncing back substantially and multiples back down to more reasonable levels as the market has responded to REIT success at raising capital through secondary offerings.
Economic Update - CRE Buyers Looking for Deals
June 04, 2009
Turns out that the recession is still on, at least if the latest numbers from payroll firm ADP accurately reflect the state of hiring and firing in the nation. According to ADP on Wednesday, U.S. companies cut an estimated 532,000 employees from their payrolls last month, with goods producers laying off 267,000 workers, and service providers shedding 265,000 positions.
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