Goldman Sachs to Issue Commercial-Backed Debt Through TALF Program

October 9, 2009

Bloomberg, New York – Goldman Sachs Group Inc. may sell the first commercial-mortgage bond since June 2008, taking advantage of an untapped Federal Reserve program.
The five-year, $400 million loan to Developers Diversified Realty Corp. made by a unit of the New York-based bank is secured by 28 shopping centers. Developers Diversified Realty Corp. It will [...]

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Federal Reserve states banks are slow to realize commercial real estate losses

October 7, 2009

Editor’s Note: Last night on Jim Lehrer’s News Hour, they had a special on commercial real estate in New York City.  It was quite a bleak picture.  The commercial broker they walked around to various commercial develops said that many buildings are over 50% vacant.  He went on to show a building that was financed [...]

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U.S. Commercial Paper Market Up $19.7 Billion This Week But Still Down 50% From Peak

October 2, 2009

Editor’s Note: This is promising data showing investor’s appetite for corporate debt and signs that companies are preparing for a recovery.   Job numbers can out today and surprised the analysts by raising the unemployment rate to 9.8%.  Interesting that the market is still down by about 50% to $1.08 trillion from the peak at [...]

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Goldman Sachs Advises Staying Away From Banks With Commercial Real Estate

October 1, 2009

Editor’s Note: $287 Billion in losses from commercial loans attached to real estate is nothing to shake a stick at.  Many of these “Interest Only” commercial loans are resetting and or coming due in a market that is weak at best.  Many reports have come out warning against falling rents and property values.  With the [...]

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Apollo Commercial Real Estate Shares Fall on IPO Debut

September 28, 2009

AP, New York – Shares of Apollo Commercial Real Estate Finance Inc. fell more than 5 percent in midday trading on the stock’s debut in an initial public offering Thursday.
The real estate investment trust and its underwriters set the IPO price at $20 a share. By midday, the shares lost $1.14, or 5.7 percent, to [...]

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Commercial real estate sales forecasted to be worst in almost 20 years

September 11, 2009

Editor’s Note: I’ll just take a quote from the article that sums up my opinion to this point on the commercial property market.  It is from Dan Fasulo with Real Estate Econometrics, “There’s no real way to sugarcoat it,” Fasulo said in an interview. “A slowdown of this magnitude certainly hasn’t occurred since I’ve been in [...]

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Capmark losses signaling more bank failures to come?

September 7, 2009

Editor’s Note: Capmark failing would not be a good sign of a recovery.   The mainstream media is finally catching on to the commercial real estate market and its decline.  Most analysts are in agreement that we are going to see worst times ahead before we start seeing commercial real estate prices stabilize.  A good friend [...]

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MainStreet Bank adds Art Smith as Commercial Lender for D.C. Market

September 3, 2009

Reuters, Herndon, VA – Main Street Bank announced that veteran Washington, D.C. commercial lender Arthur (Art) Smith has joined with the bank to focus on the D.C. and surrounding markets.
“Art is a fourth generation Washingtonian, and his knowledge of the D.C. market is extraordinary. He brings a wealth of experience to MainStreet,” said Chairman, [...]

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