NREI_NEWSLINE_ Penton Media October 7, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/nrei/v/748 TOP STORY --Starwood Capital Wins Bid for Corus Bank Assets By Denise Kalette A private equity consortium led by Starwood Capital Group beat seven other bidders with its offer to pay $554 million for a 40% stake in the assets of failed Corus Bank, according to an announcement by the Federal Deposit Insurance Corp. (FDIC). In all, the transaction with Northwest Investments LLC, managed by Starwood, is valued at approximately $2.77 billion, or about 60% of the Corus portfolio of performing and non-performing loans and assets with a principal unpaid balance of $4.5 billion. The bank portfolio has more than 100 loan and real estate owned (REO) assets. To view the full article go to: http://nreionline.com/finance/news/starwood_capital_wins_corus_bank_1007/ ONLINE EXCLUSIVES --Bach: Weak Jobs Report Is Unwelcome News for Leasing Markets By Matt Valley Hopes for a brisk return to health in the U.S. labor market and commercial real estate were dealt a setback Friday morning when the Bureau of Labor Statistics (BLS) reported that non-farm payrolls fell by a worse than expected 263,000 in September. The consensus among economists prior to release of the jobs report had been for non-farm payrolls to drop by approximately 175,000. "The report suggests that it doesn't look like it's going to be a vigorous recovery. It does look like a jobless recovery," says Robert Bach, chief economist with real estate services provider Grubb & Ellis. "As far as commercial real estate, it suggests the leasing markets are not close to a bottom yet." To view the full article go to: http://nreionline.com/news/jobs_report_september/ --Katrina Creates Safe Harbor for Multifamily Industry By Sibley Fleming The story of the New Orleans apartment market is inextricably tied to Katrina -- the hurricane that wiped out 20% of the city's rental housing stock and decimated the population by more than half. Ironically, the storm that did so much damage is also the economic engine that has provided the Crescent City a buffer against the deep recession that plagues most of the nation. Over the past year, the Federal Emergency Management Agency (FEMA) has paid more than $800 million for infrastructure repairs in the five parishes that make up the New Orleans metropolitan area, according to the August 2009 New Orleans Index, developed by the Greater New Orleans Community Data Center. Another $2.8 billion in FEMA money is forthcoming this year as part of a $5.8 billion commitment to rebuild levees and infrastructure. That work won't be completed until 2012, according to Allison Plyer, deputy director of the non-profit. To view the full article go to: http://nreionline.com/news/areas/0901-neworleans-remains-flush/ --Annual Green Building Survey, Chance to Win Gift Card Staff Report In partnership with the U.S. Green Building Council, National Real Estate Investor is investigating green building trends in commercial real estate -- from development to pending federal regulation. Whether you own, develop or lease green buildings or not, we value your opinions as an industry professional and valued reader. Results of the survey will be released at GreenBuild, which is being held in Phoenix Nov. 11-13. Your answers will be kept completely confidential and used only in tabulation with others. As an added incentive, at the end of the survey you will be given the opportunity to win a $100 Visa gift card. If you're a developer, click here (http://insidepenton.com/research/er/nrei/greendev09.htm). If you're a corporate user, click here (http://insidepenton.com/research/er/nrei/greencorp09.htm). To view the full article go to: http://nreionline.com/brokernews/greenbuildingnews/news/annual_green_building_survey_0908/ Advertisement ---------------------------------------- (http://www.irem.org/sec1ins.cfm?sec=aboutirem&con=cpm_arm_aso_directory.cfm&par=) ---------------------------------------- Featured Research ---------------------------------------- *Top 25 Brokerages 2009 (http://nreionline.com/research/nrei-top-25-brokerages-0401/) *Seniors Housing Research (http://nreionline.com/seniorshousing/research-offer/index.html) *Distressed Real Estate (http://nreionline.com/distressedinventory/) *2009 Real Estate Investment Outlook (http://nreionline.com/research/2009_real_estate_investment_outlook/) ---------------------------------------- Advertisement ---------------------------------------- AUCTION - Senah Plantation. 1803_ Acres - Divided. Lee County, GA. 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