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Capital Markets

Capital Markets

Monday’s Numbers: December 15, 2014

The Trepp survey for the week ended December 5th, showed spreads relatively unchanged over the past 30 days, with the average spread increasing 2 basis points. The implied all-in cost of for a 10-year mortgage remains in the 3.50 percent to 4.00 percent range; last year at this time we were talking rates of 4.50 percent to 5.00 percent.

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Capital Markets

Monday’s Numbers: December 8, 2014

The Trepp survey for the week ending November 28, 2014, showed spreads relatively unchanged over the past 30 days, with the average spread declining 1 basis point. During the period, borrowers benefited from a 12-basis-point decline in the yield on ten-year Treasury notes. The implied all-in cost of 3.6 percent is 104—repeat, 104—basis points lower than it was on December 31, 2013.

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Rainbow Bridge, in Minato Ward, Tokyo, Japan. (Wikimedia Commons)Capital Markets

ULI Survey Ranks Tokyo, Jakarta, and Osaka as Top Real Estate Investment Markets in Asia

Japan remains a favored country for real estate activity in Asia, with Tokyo and Osaka ranked first and third, respectively, in terms of investment and development prospects for next year, according to Emerging Trends in Real Estate® Asia Pacific 2015, a real estate forecast jointly published by the Urban Land Institute and PwC.

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Capital Markets

Monday’s Numbers: December 1, 2014

The Trepp survey was not conducted last week due to the Thanksgiving holiday. If the survey had been conducted, it most likely would have shown a decline in average spreads of 10 to 15 basis points, mirroring the recent decline in yields on ten-year Treasury bonds, which closed at 2.18 percent on November 28.

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Recent Articles

  • Monday’s Numbers: November 24, 2014

    November 24, 2014

    The Trepp survey for the week ending November 14, 2014, showed spreads basically unchanged as the debt markets entered the listless pre–holiday period; the time period stretching from now through the end of the Thanksgiving weekend should be moribund, with not much happening that qualifies as newsworthy.

  • Monday’s Numbers: November 17, 2014

    November 17, 2014

    The Trepp survey for the week ending November 7, 2014, showed average spreads basically unchanged as lenders and borrowers alike focus on getting 2014’s remaining deals “papered” by December 31. Absent the appearance of a “black swan,” we expect nothing of note to change over the next six weeks. All-in cost remains in the wildly attractive 3.50 to 4.00 percent range.

  • Monday’s Numbers: November 10, 2014

    November 10, 2014

    The Trepp survey for the week ending October 31, 2014, showed average spreads basically unchanged with the implied rate for ten-year, modestly leveraged commercial real estate mortgages equaling 3.93 percent—71 basis points lower than at year-end 2013.

  • Monday’s Numbers: November 3, 2014

    November 3, 2014

    The Trepp survey for the week ending October 24, 2014, showed average spreads basically unchanged, with the implied rate for ten-year, modestly leveraged commercial real estate mortgages equaling 3.74 percent—70 basis points lower than at year-end 2013.

  • Low Yields Driving More Investors into Property Markets

    October 30, 2014

    Around the world, commercial real estate investors are tired of sky-high prices and low investor yields—but they keep on paying, said panelists at a Capital Markets keynote at the ULI Fall Meeting.

  • Challenges and Opportunities for Crowdfunding

    October 28, 2014

    The nascent, fast-growing phenomenon of crowdfunding in real estate financing hasn’t yet scratched the surface of its potential, according to participants in a panel at ULI’s 2014 Fall Meeting in New York City.

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