2011 Florida Economic Outlook
Mark Vitner, Senior Economist with Wells Fargo takes a look at Florida’s Economy for 2011.
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Archive for February, 2011
2011 Brings a Resurgent CMBS Market, More CRE Liquidity
CMBS activity has flourished in the past few weeks with more than $6.5 billion in new securitization coming to market. In addition, Freddie Mac brought two multifamily-backed offerings totaling $1.86 billion to market.
The activity in February alone is almost two-thirds of all CMBS deals offered last year – and for some is reminiscent of 2007 when commercial mortgage-backed securities offerings were at their peak, which has the commercial real estate market bullish and fretful at the same time.
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Larger local banks’ 2010 losses reach nearly $100 million
Sour real estate loans and the still-struggling economy contributed to a nearly $100 million gash in the combined 2010 earnings of some of Central Florida’s largest locally based banks, new figures show.
Half of the region’s 10-largest community banks by deposit market share had cumulative losses of $97.9 million last year, according to the latest regulatory data available.
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The CFI Team in the News
Colliers International closed on industrial leases that included Special Logistics Southeast LLC, which leased 80,527 square feet of space in Beltway Commerce Center at 10910 Lee Vista Blvd. in Orlando. Matt Sullivan and Wilson McDowell, both of Colliers, represented the tenant. General Supply & Services Inc., also known as Gexpro, leased 32,195 square feet of space in ADC North Building A at 7297 S. Conway Road in Orlando. Sullivan and McDowell represented the landlord, DCT Industrial, and Jared Bonshire of Cushman & Wakefield represented the tenant. NHCS LLC leased 26,344 square feet of space at 2729 Hansrob Road in Orlando. Sullivan and McDowell represented the tenant and Bill Bywater of the Bywater Co. represented the landlord, Hansrob Road Partners LLP. …
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CalPERS: New Strategic Plan Would Refocus Portfolio on Core U.S. Properties
The nation’s largest pension fund, the California Public Employees Retirement Fund (CalPERS), is close to deciding it’s time to reduce its exposure in value-add and international properties, get out of REITs altogether and instead focus on core properties in the U.S.
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