| IN THE
February
8, 2010 ISSUE |
Out of Retreat: Private Equity Investors To Boost Real Estate
Allocations in 2010
| By
Ben Johnson, NREI contributor |
What did private equity investors, including huge
institutional players such as pension funds, learn most from the recent
collapse in commercial real estate values? They want more of the asset
class.
A new study of 90 global private equity real estate investors by
London-based researcher Preqin confirms that instead of fleeing to the
hills, institutional investors intend to commit more capital to private
equity real estate funds in 2010 than they did in 2009. And
surprisingly, none of the participants in the survey conducted in the
fourth quarter of 2009 has abandoned commercial real
estate.
Building A Case for a Second-Half Recovery in
2010
| By
David Lynn, NREI contributing columnist |
Several positive developments are emerging in the real
estate capital markets, providing a glimpse of optimism as investor
sentiment appears to rebound.
As of December 2009, the average commercial mortgage rate fluctuated
between 7% and 7.2%. Spreads over the 10-year Treasury ranged from 360
to 420 basis points, down from a range of 430 to 500 basis points in the
third quarter of 2009.
Greystar and Praedium Jointly Acquire Apartment Property in St.
Petersburg, Fla.
Greystar Real Estate Partners and The Praedium Group have
purchased the 631-unit Lincoln Shores apartment community in St.
Petersburg, Fla., for $24.2 million, or about $38,300 per unit. The
joint venture deal closed in January.
Terms of the transaction were not disclosed, but property records show a
deed transfer for $24.2 million between seller Lincoln Shores Apartments
Investors LLC and Lincoln Shores Associates LLC, the acquiring joint
venture entity, according to the Tampa Bay Business
Journal.
|
