Commercial Real Estate Week in Review - Llenrock

Week in Review for July 14 ? 20:

- Facing a depleted inventory and shrinking cap rates, multifamily REITs like Camden Property Trust (NYSE: CPT) begin to increase development.

- As the alternative energy sector scrambles for financing, those involved in solar energy explore funding through a REIT structure. However, a potential solar REIT (or ?S-REIT?) sector isn?t likely without modification of tax codes governing REITs.

- In Philadelphia, the office property vacancy rate decreased to 11.3%, with 44,615 SF of net absorption in the previous quarter, reports CoStar Group. This improvement reflects an overall increase in office market demand. However, this increased absorption is yet to translate into rent growth.

?- Also in Philadelphia, Nexus EnergyHomes announces the city?s first ?Net-Zero? residences. Planned for the Northern Liberties neighborhood, the town homes will be designed to generate as much energy as they use, and will feature geo-solar and water reclamation technology.

- Thanks to high demand and low rates, Fannie Mae and Freddie Mac?s?CMBS issuance exceeds that of the private market.

- Pebblebrook Hotel Trust (NYSE: PEB) announces an expanded credit facility, leading to speculation over the REIT?s next acquisition target.

- Central bankers plan to collaborate in major reforms on?Libor regulations?following the widespread rate-rigging scandal.

- Citi Research?s Michael Bilerman is named the ?top U.S. REIT analyst? in a recent poll. The survey, conducted by Greenwich Associates, surveyed almost 1,000 ?professionals from over 200 different firms.

- Bill Bayless, president and CEO of American Campus Communities (NYSE: ACC), describes universities? changing relationship with its student housing facilities. As the sector becomes more privatized, student housing investors may see greater opportunity on U.S. campuses.

- Blackstone Group (NYSE: BX) predicts an increase in?commercial real estate sales?in the near future, though the financial giant also foresees substantial new investments in the remainder of the year.

#CRE

Source: http://llenrock.com/blog/commercial-real-estate-week-in-review-158/

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