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Roundtable survey shows “tempered” outlook on commercial real estate as industry executives worry about economic and policy risks, maturing CRE debt, and weak CMBS market recovery.

Marine Gateway is Vancouver’s first transit-oriented, mixed-use development directly connected to two major transit stations—the Marine Drive Canada Line station and the South Vancouver bus loop. The 830,000-square-foot (77,000 sq m) landmark is composed of two neighborhood plazas, a 250,000-square-foot (23,000 sq m) office tower, 27 retailers occupying 230,000 square feet (21,000 sq m) of space, and 26- and 33-story high-rise buildings with 415 residential units and 46 rental suites.

ULI has selected 26 professionals in real estate development, planning, design, engineering, finance, and health care from across the United States to participate in the second cohort of the ULI Health Leaders Network, a program designed to empower real estate and land use professionals with the skills, knowledge, and networks to improve health outcomes in their professional practice and communities.

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.

“CMBS: Modest New Issuance Growth; 2007 Maturities Struggling,” says Standard & Poor’s.

While Prudential sees a 20 percent increase in commercial mortgage lending this year, this is not going to exactly move the needle for the average borrower as insurance companies by and large focus their general account’s attention on core properties, gateway cities, and “pristine” borrowers.

Based on the Federal Reserve’s pronouncement this week that it would be keeping short-term interest rates at the current historical low through 2014, we should expect rates to remain at today’s levels for the next three years, baring a global financial crises, Stephen Blank, ULI’s senior resident fellow, capital markets.

California may be easing into a soft landing with signs of “ebbing optimism” among developers on the three-year outlook for the state’s commercial and multifamily real estate markets. The latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey indicates slower growth ahead in the office, retail, and industrial sectors, but developers are more positive about opportunities in Orange County, Los Angeles, and San Diego.

Tracy Murphy, cofounder and president of San Diego–based IQHQ, the life-sciences-centric real estate investment trust, has a drive and a hunger for success that cannot be stopped as the audience at the “WLI Presents: A View from the Top” at this year’s ULI Spring Meeting learned. IQHQ was founded around two years ago and has already become one of the largest property owners in the sector that she describes as “a sweetheart of a space.”

Standard & Poor’s Rating Services reported that CMBS delinquencies declined to their lowest level in 30 months, ending October at 9.66 percent, down from 9.77 percent in September. Importantly, the principal amount of loans liquidated, restructured, or modified so that they could return to current status exceeded the amount of delinquencies offerings.

Monday’s Numbers