Week in Review for September 1 ? 7:
- A recent CoStar Group report shows strong growth in office and other commercial real estate demand among markets in the western U.S., particularly San Francisco, Seattle, and parts of Texas. The West and Southwest were among the worse casualties of the housing crisis and recession, but growth in the technology and energy sectors may be speeding their recovery.
- Though the government is attempting to wind down Fannie Mae and Freddie Mac, some speculate that proposed regulatory changes may spur many toward residential mortgage investments guaranteed by the GSEs.
- PhillyDeals? Joe DiStefano reports alternative investment giant Carlyle Group (NASDAQ: CG) has purchased a number of Wilmington, Delaware plants from chemical company DuPont. Carlyle?s $4.9 billion deal follows another recent industrial acquisition in the area: the Sunoco oil refinery in South Philadelphia.
- Timber REIT Weyerhaeuser (NYSE: WY) benefits from the gradual growth of the U.S housing market. Because the majority of the REIT?s income is generated by the housing industry, Weyerhaeuser was badly hurt by the recent housing crisis.
- Construction continues for the new headquarters of pharmaceutical company GlaxoSmithKline (NYSE: GSK) at the Philadelphia Navy Yard. The development of this new office campus in South Philadelphia has been spearheaded by the Philadelphia Industrial Development Corporation and Liberty Property Trust (NYSE: LRY).
- The U.S. manufacturing sector posts disappointing numbers for its third straight month. This industry?s contraction will likely hurt the country?s overall economic and job growth as well, analysts report.
- According to Bloomberg, Singapore?s REITs have generated average returns of 37%, significantly outperforming REITs from the U.S., U.K., Australia and Japan.
- Standard & Poor?s updates its criteria for the rating of CMBS, after its previous ratings derailed a large CMBS offering and angered major banks.
- In Baltimore, Regency Centers uses crowdsourcing technology to both lease and promote its Parkville Shopping Center.
Source: http://llenrock.com/blog/commercial-real-estate-week-in-review-165/
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