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.

The Ackman-Ziff Real Estate Group LLC has graciously provided us with access to its most recent quarterly surveys of terms and conditions in the private equity and debt commercial and multifamily real estate capital markets; the equity survey follows.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders remained unchanged during the most recent survey period with financing remaining available in the 5 percent +/- range.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders remained unchanged during the most recent survey period with financing available in the 5 percent +/- range. The Cushman & Wakefield Sonnenblick-Goldman Survey for the period ended July 7 showed fixed and floating rate spreads remaining unchanged in most property sectors during the survey period with financing remaining available at attractive and affordable rates.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders came in five to six basis points during the survey period, most likely in response to 10-year Treasury bonds widening approximately 30 basis points during the period.
The ULI Real Estate Finance and Investment 2011: New Directions, New Connections Conference—held June 22–23, 2011, in New York City—focused on investing, accessing, lending, and sourcing capital. In attendance was Steve Blank, senior fellow, finance, who overheard things shocking and predictable—and reminiscent of the boom years. Read more to learn the data and insights that participants shared.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders widened a bit. Range bound around the 5.00 percent level is not a bad place to be.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders remained relatively unchanged during the most recent survey period. And as we seem to say, all-in costs remain in the 5.00+/- percent range and should be range bound for the foreseeable future, subject to a “Black Swan” event.
At the Jones Day Real Estate Symposium held before the National Association of Real Estate Investment Trusts Annual Institutional Forum, one ULI senior fellow heard promising stuff—and shares it herein.
While May was sort of a neutral month for real estate investment trusts, REITs year-to-date have shown total returns of 14.13 percent, including dividends—and the industry’s prospects look promising.
The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders remained relatively unchanged during the most recent survey period. And as we seem to say, all-in costs remain in the 5.00+/- percent range and should be range bound for the foreseeable future, subject to a “Black Swan” event.
Members Sign In
Don’t have an account yet? Sign up for a ULI guest account.