The real estate investment trust, led by Chairman and Chief Executive Officer Mitchell Morgan, owns 94 properties in middle- income suburbs of Philadelphia, New York, Baltimore and Washington, according to the regulatory filing. Total revenue climbed by almost 50 percent to $130.8 million last year.
“These properties give them a big portfolio that’s generating a lot of income that will be attractive to public market investors,” said Ben Thypin, director of market analysis for Real Capital Analytics Inc., a New York-based researcher. “Prior to this, they didn’t have the scale to justify being a public firm.”
Read More: http://www.bloomberg.com/news/2011-07-27/morgan-properties-seeks-800-million-in-ipo-of-apartment-building-owner.html
Four private-equity firms are leading investor groups seeking to buyAnglo Irish Bank Corp.’s $9.65 billion of U.S. property loans, according to two people with knowledge of the sale process.
Centerbridge Capital Partners LLC is teaming with American International Group Inc. (AIG), Paulson & Co. and BlackRock Inc. (BLK)to make a bid, while Blackstone Group LP (BX) is working withDeutsche Bank AG (DBK), said the people, who asked not to be named because the process is private. TPG Capital is pairing with LoanCore Capital LLC, while KKR & Co. is with Westbrook Partners LLC, the people said. The groups may ultimately opt not to submit offers and coalitions may change before bids are due Aug. 9, they said.
The firms are weighing offers for the entire portfolio of 248 loans, tied to buildings from Manhattan to Beverly Hills, California, and may sell them in pieces to property owners or other private-equity companies after the purchase, the people said. The competition underscores the appetite for real estate by buyout firms that are pushing deeper into acquisitions at the expense of smaller companies seeking deals.
“These consortia may be leading this process because they have sufficient firepower and expertise to take down the whole portfolio,” said Ben Thypin, director of market analysis for Real Capital Analytics Inc. in New York. “A winning consortium is likely to retain some of the assets and quickly flip the rest to smaller firms that were unable to compete in the auction.”
Read More: http://www.bloomberg.com/news/2011-07-14/private-equity-groups-said-to-vie-for-anglo-irish-u-s-real-estate-loans.html
Commercial property is showing signs of life as overseas buyers purchased $447.9 million worth in the first six months of 2011, according to Real Capital Analytics Inc., a New York-based researcher. That’s almost 10 times the $48.1 million in all of 2010 and twice the $209.5 million in 2009.
Drawn by a weakening dollar and low prices, overseas commercial-property investors probably aren’t looking for profits from quick resales, a practice that helped fuel a condominium-building boom, said Ben Thypin, Real Capital’s market-analysis director.
“The large-scale projects indicate the interest to stay in the market a significant amount of time,” he said in a telephone interview. “I think of Miami more along the lines of a San Francisco or Manhattan.”
Read More: http://www.bloomberg.com/news/2011-07-12/miami-seeking-budget-relief-looks-abroad-to-revive-commercial-real-estate.html
Lately it seems developer Aby Rosen's every business relationship is worthy of its own daytime soap opera. While Rosen and his company RFR Holding have been in the news a lot since the downturn hit because of struggles at 610 Lexington Avenue, which is on the brink of foreclosure, and because of a split with hotelier Ian Schrager, in the last few months the headlines have been even more fast, furious -- and personal -- than normal.
...Still, some say that Rosen's back--to--back disputes seem to be more than just a coincidence. "There are enough of these disputes that it does raise questions about something going on," said Ben Thypin, senior market analyst at real estate data firm Real Capital Analytics.
Read More: http://therealdeal.com/newyork/articles/aby-fires-back
“The market environment for sellers has improved,” says Ben Thypin, a senior market analyst for RCA.
Still, the sheer volume, specifically in the bubble markets, comes as a surprise to some. “We didn’t expect to have the high volume of trades from both sellers and lenders,” says Nick Ingle, director of capital markets at the Phoenix office of Hendricks & Partners.
Two big servicers, New York-based Centerline Capital Corp., and Miami-based LNR Property Corp., also made their way on the list. “It’s an opportune time [for lenders] to sell because pricing is higher than a lot of people would have expected,” Ingle says. “When they can, they’re taking aggressive actions to dispose of these assets and move forward.”
In the distressed category, Thypin says that Lembi and Cuyahoga Falls, Ohio-based Karam Managed Properties were motivated by their banks to sell. “A lot of these are still pressured sales,” he says. “It could be that lenders feel comfortable with these properties selling now that values have improved.”
Ben Carlos Thypin
I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.