| The daily source on REITs and real estate investment |  |
- Further stimulus is possible, Fed's Yellen says
Federal Reserve Vice Chairwoman Janet Yellen said the outlook for the U.S. economy remains highly uncertain and the central bank is "quite willing" to implement new measures if the recovery weakens. "In particular, further easing actions could be warranted if the recovery proceeds at a slower-than-expected pace," she said in a speech in New York. Reuters
(4/11), MarketWatch
(4/11)     
| Capital Markets |  |  |
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- Concerns grow about CRE CDOs carrying below-market rates
The vast majority, about 80%, of commercial real estate collateralized debt obligations hold floating interest rates, a Deutsche Bank report notes. Many of these rates are below-market, which has bolstered their performance. If borrowers seek new financing, however, these investment vehicles become more risky. "Here is a situation where loans which are inherently riskier are benefiting tremendously from the floating-rate component," according to the bank's research note. The Wall Street Journal/Developments Blog
(4/11)
| Investment News | | |
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- Fisher: Private real estate returns are increasingly stable
Private real estate returns are more stable now than they were a year ago, says Jeffrey Fisher, senior global consultant with Real Capital Analytics & ARGUS Software and co-president of the Homer Hoyt Institute. In 2011, private real estate returns were 12%, and for a period of time they were 16% on an unlevered basis. That was never sustainable, he said. "In the whole history of the NCREIF Property Index, the average return over the last 30 years or so is more in the 10 percent range. That's where I'd expect, on an unlevered basis, to see returns for private real estate," he said.  REIT.com
(4/11)
- Levy: Companies have more opportunities to convert to REITs
Companies in industries that don't ordinarily have REITs should still consider converting to a REIT structure, says David Levy, tax partner with the law firm Skadden, Arps, Slate, Meagher & Flom. The REIT sector is evolving, he says, and now consists of a diverse group of companies with various business models. "If markets hold up, if the economy holds up, we will see a lot of transactions and REIT conversions," he said. "If not this year, then at the end of this year and early next year." REIT.com
(4/11)
- Nontraded REITs continue to attract investment funds
Nonlisted REITs have rapidly evolved into a formidable force in the industry. They are expected to raise $9 billion in 2012, a 9% increase over the amount raised last year. Demand for these assets is being driven by financial advisers and broker-dealers who like the diversity of product offerings and the steady income stream. Forbes
(4/11)
| Commercial Real Estate Insight | | |
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- "Onshoring" trend boosts industrial asset class in U.S.
The "onshoring" trend is having an impact on the nation's commercial real estate sector, especially the industrial asset class. Companies such as Caterpillar are shifting production back to the U.S., spending millions on new factories as they do so. Other examples include Ford Motor, General Electric, Coleman, Whirlpool, Cochrane Furniture, Carlisle Tire & Wheel Co. and Otis Elevator. National Real Estate Investor
(4/11)
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| NAREIT News | | |
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NAREIT announces new target-date funds research
NAREIT has announced new research by Wilshire Associates® that shows how investors and investment managers can strengthen retirement portfolios and, in particular, target-date funds by adding allocations to REITs and listed real estate. Target-date funds are popular investment products designed to simplify 401(k) or IRA portfolio planning for millions of Americans now responsible for their own retirement planning. The full Wilshire report on the impact of real estate in target-date funds is available free of charge here.
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