Industry Sectors
Developers and academics joined ULI’s Asia Pacific Summit to parse the meaning of the industry’s hottest buzzword—sustainability—and try to give it meaning against the backdrop of the biggest ever building boom going on in China.
The Trepp LLC survey showed spreads widening as much as 15 basis points for no apparent reason we know of except, possibly, the continuing crises in Europe and concerns that the U.S. will catch their flu. Fortunately, money is plentiful with a majority of the widening of spreads offset by the lower yields on 10-year Treasury bonds.
Where does a city begin when it wants to develop public areas as a catalyst for revitalization when it is not located on a river, a lake, or an ocean? Birmingham, Alabama began with its railroad tracks, and that was just the beginning.
According to the FTSE NAREIT Equity REIT Index, equity REITs produced total returns equal to 2.87 percent in April. The Trepp LLC survey showed spreads flat to widening by 5 basis points over the survey period as all-in costs remain attractive.
The Trepp LLC survey showed spreads widening over the past two weeks in response to the yield on 10-year Treasury bonds which narrowed by about 15 basis points. Lending spreads continue to move in a narrow range with overall cost attractive at all maturities and from a wide array of capital sources.
Federal agencies are under continuing pressure to reduce their demand for leased and build-to-suit space. They intend to reduce square footage used per employee, increase teleworking—and make better use of existing government buildings, administrators told a ULI WashingtonTrends conference audience.
Public/private partnerships can be used to create and restore public spaces, adding value to surrounding real estate. Bryant Park in Manhattan serves as a successful model of this. In Washington, D.C., a public/private partnership has been established to bring that improvement model to the National Mall.
According to the most recent survey by Real Estate Research Corporation, average capitalization rates continued to decline as more and more capital is invested in real estate. Lending spreads continue to move in a narrow range with overall cost attractive at all maturities and from a wide array of capital sources.
How did Charlotte, North Carolina, developer Bissell Companies build a major mixed-use development —largely on spec—despite dramatic changes in economic conditions? Their Ballantyne community includes more than 5 million square feet (465,000 sq m) of office space, 500,000 square feet (46,500 sq m) of retail, 1,000 hotel rooms, and 4,600 residential units. And the developers believe that it pays to have inventory at the ready.
Over the past month, the Cushman & Wakefield Sonnenblick-Goldman Survey narrowed, with 10-year rates improving as much as 40 basis points for some property sectors.
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