Archive for September, 2011

Fund Goes Down Blind Alley

Real-estate developer Stephen Ross and his partners spent more than a year digging into U.S. banks, including more than 100 with loans to local bakeries, gas stations and amusement parks. They hoped to spend about $1.1 billion buying or investing in lenders.

But the deeper they went, the worse things looked. As a result, Related Cos., the New York firm in which Mr. Ross is chief executive, gave back the money it raised from roughly 150 investors, including hedge-fund manager David Einhorn. The firm did find several investments it was interested in but was outbid.

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UF study finds modest rise in Florida’s consumer confidence

Florida’s consumer confidence index rose this month to 64, up three points from a revised mark of 61 in August, which was only two points higher than the record low of 59 set in June 2008, according to a new University of Florida survey.

“The increase in confidence this month was mostly a rebound from very low levels in August,” said Chris McCarty, director of UF’s Bureau of Economic and Business Research and Survey Research Center, which conducted the survey.

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Florida’s leading indicator up slightly in July

Florida’s leading indicator — a measurement of economic activity in the state compiled by Durham, N.H.-based e-forecasting.com — rose in July by 0.1 percent after decreasing by 0.1 percent in June.

The July data is the most recent available.

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A Busy Year For Central Florida Industrial

The Central Florida industrial market has had a very busy year. Activity has increased significantly compared to the same time last year, with many more deals being completed on both the leasing and sales sides.

However, most of the activity is coming from existing companies already in the market. All we need is a couple of new companies to invest in the Central Florida region to get the market back on its feet. Below is the viewpoint from two industrial brokers on the ground in Central Florida. 

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Financial Turbulence Rattles Sluggish Recovery, Prompting Revised Growth Forecasts

The effects from late summer’s national and international economic challenges have cast a huge shadow over the commercial real estate market recovery. Nothing postpones a leasing, development or investment decision like the uncertainty surrounding the prospect of a national default, volatile stock markets, a slowdown in retail sales, slouching corporate profit growth, and declining bank lending.

These indicators (while still pointing toward growth) have generally grown progressively weaker since late 2010. And while last year they all pointed to improved employment recovery, that expected level of job growth no longer appears to be the case.

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DCT Industrial Trust buys Orlando buildings

DCT Industrial Trust Inc. said Tuesday it has acquired a three-building portfolio in Orlando, Fla., for $17 million.

The three bulk-distribution facilities are in the southwest Orlando area, in a regional distribution hub for many retailers and suppliers, the Denver industrial real estate company (NYSE: DCT) said.

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