Industry Sectors
New supply is still far short of demand, say panelists at a Denver conference. Even if developers wanted to overbuild, there’s not enough capital—or taste for risk—available to do it.
The Trepp LLC survey showed spreads widening 10 to 15 basis points during the survey period as the markets languish, waiting for clarity. A week ago, it was who would win the Greek election; now that the austerity party has won, the markets are holding their collective breaths waiting to see what will actually happen.
Although trends in office design favor open, collaborative work spaces—with communal tables and devoid of cubicles, private offices, and many hallmarks of traditional workplace culture—for some businesses it still makes sense to take a more traditional approach to workplace design.
With the recent postponement of LEED 2012 and the growing ranks of green building-evaluation mechanisms, real estate professionals face decisions about which third-party program to prioritize.
The Trepp LLC survey showed spreads unchanged during the survey period as the market participants held their breath waiting to see how Greece fares following the critical election on June 17. Pricing remains subject to floors from both conventional and securitized lenders with all-in costs said to be 3.5 percent (+/-) for five year funds and 4.0 percent (+/-) for 10-year financing.
Despite setbacks, leaders in the Tampa Bay area continue to push for regional transit in the name of economic competitiveness.
Peter Calthorpe, a ULI J.C. Nichols Award laureate, promotes breaking down the Asian phenomenon of superblocks—massive residential complexes that leave long stretches between intersections, isolating people and frustrating pedestrians.
Richard Saltzman, president of Colony Capital, kicked off a session on investing in distressed debt at ULI’s Capital Markets Conference on June 7 in New York City by pointing out that the estimated $1 trillion in “overleveraged, underwater debt” slated to mature over the next six years overwhelms the approximately $300 billion targeting such deals. Only one in five deals might be a home run, he added.
The Trepp LLC survey showed spreads widening 10 to 15 basis point solely in reaction to Treasury yields dropping, then regaining a little luster. With the 10-year Treasury trading at 1.64 percent (as of June 9) and spreads averaging 228 basis points, all-in cost remains in the very attractive 4.00 percent range, subject to floor pricing by most lenders.
Though the Guiding Principles for Federal Architecture still ring true after a half century, innovation is the key to the future success of public building design, say speakers at a recent GSA symposium.