Stephen Blank

Stephen R. Blank joined ULI in December 1998 as Senior Fellow, Finance. His primary responsibilities include: expanding ULI’s real estate capital markets information and education programs; authoring real estate capital market commentary; participating as a principal researcher and adviser for the Emerging Trends in Real Estate series of publications; organizing and participating in real estate capital markets programs at ULI events worldwide; and participating in industry meetings, seminars, and conferences. Prior to joining ULI, Blank served from December 1993 to November 1998 as Managing Director, Real Estate Investment Banking of Oppenheimer & Co., Inc. His responsibilities included: structuring, underwriting, and executing corporate financings including initial public offerings of common and preferred shares, unsecured debentures, and convertible bonds; property acquisitions, dispositions, and financing; and financial advisory services including mergers and acquisitions, corporate restructurings, and recapitalizations.

Highlights of the October 2011 Federal Reserve Senior Loan Office Opinion Survey include, amongst other findings: fewer domestic commercial banks eased lending standards, one-fourth of foreign bank respondents tightened lending standards, and less easing of credit standards in the third quarter of 2011 as compared to past surveys.
The Trepp LLC survey showed spreads narrowing a few basis points during the most recent survey period, evidence that the debt market remains open and raring to go. Like peanuts at the circus: get’em while their hot; can it get better than this?
The Trepp LLC survey showed spreads widening 15+/- basis points during the most recent survey period, evidence that the debt market remains cautious and easily spooked by current events. Nevertheless, all-numbers are more than a little attractive.
The Trepp LLC survey showed spreads coming in as much as 25 basis during the most recent survey period, evidence that the market, so far, is able to function with the Euro-crises playing out in the background.
The Trepp LLC survey showed spreads coming in as much as 25 basis during the most recent survey period, evidence that the market, so far, is able to function with the Euro-crises playing out in the background.
The Trepp LLC survey showed spreads coming in as much as 15 basis during the most recent survey period, evidence that the market, so far, is able to function with the Euro-crises playing out in the background.
The Trepp LLC survey narrowed a bit during the most recent survey period. Deals appear to be closing on time, on schedule, and at quoted rates. Our sources say commercial real estate mortgages are being quoted in the low 5’s to high 6’s range at maximum loan-to-value ratios of 65 percent.
The Trepp LLC survey showed spreads stabilizing to even narrowing a bit during the most recent survey period. Deals appear to be happening as everyone looks over their shoulder waiting for the next shoe to fall somewhere in the global capital markets. So…hurry up and get your deals done while rates are as low.
The Trepp LLC survey showed spreads widening dramatically during the survey period (an average of 15+/- basis points) as concern about non-real estate factors such as the Federal Reserve’s activities, the Euro-financial market crises, and the a perceived increase in Sovereign risk, to name a few, weighed on lenders minds and lending strategies.
A consortium formed by Richard Branson announced that it will provide $650 million for commercial real estate energy retrofits and upgrades for properties located in Miami-Dade County, Florida, and Sacramento, California.
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