Real Estate Investment SmartBrief

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January 31, 2013

The daily source on REITs and real estate investment

Top News

Fed cites "pause" in growth, says stimulus will go on
The Federal Reserve said it will continue its efforts to support the economic recovery, citing concern that U.S. economic growth "paused in recent months." The central bank decided to continue buying about $85 billion worth of bonds a month and keep interest rates close to zero until joblessness has declined to at least 6.5%. CNBC (1/30), Barron's (free content)/Income Investing blog (1/30), USA Today (1/30), The Wall Street Journal/MarketBeat blog (1/30)

Auction.com to sell Regency Hotel in Jackson MS
Auction.com, the Nation's Leading Online Real Estate Marketplace, are pleased to sell a Regency Hotel in Jackson Mississippi. Auction.com, LLC. 1 Mauchly, Irvine, CA 92618, (800) 499-6199. View more licensing information here. See more info about our auctions.

Capital Markets

ECB survey finds tightening credit conditions
Eurozone banks demanded higher standards from borrowers in the fourth quarter, according to a survey by the European Central Bank. The ECB expects credit conditions to tighten further this quarter as banks deal with decreased demand for loans. Bloomberg (1/30)

Real Estate Marketplace

Hutchings: Mismatched supply a problem for CRE investors
Commercial real estate investors have been frustrated by the quality of supply that has been available to them, says David Hutchings, head of European research at Cushman and Wakefield. "What investors are looking for is secure, high-quality, core assets," Hutchings said, adding that what banks are selling are properties with problems. CNBC (1/30)

Pebblebrook acquires Embassy Suites in San Diego
Pebblebrook Hotel Trust announced its acquisition of the Embassy Suites San Diego Bay hotel for $112.5 million. HEI Hotels and Resorts will take over operations of the 337-room property, which is set to undergo a $7 million upgrade in the next two years. San Diego Union-Tribune (1/30)

KBS REIT secures $25M for acquisition
KBS Legacy Partners Apartment REIT has closed on a $25 million mortgage in acquisition finance for a multifamily complex in Eden Prairie, Minn. HFF arranged the financing. CoStar Group (1/30)

San Diego REITs are active buyers
San Diego area-based REITs have been actively acquiring assets locally and nationally. Active REITs include Realty Income Corp., Retail Opportunity Investments Corp. and Excel Trust. San Diego Source (free content) (1/31)

Silicon Valley retail center trades for $205M
The Plant shopping center in Silicon Valley has traded for $205 million. A division of Cole Real Estate Investments acquired the 650,000-square-foot center from an entity of Vornado Realty Trust. American City Business Journals/San Jose, Calif. (1/30)

NAREIT News

Register today for REITWise
More than 75 speakers and moderators are preparing their session materials to present at REITWise 2013®: NAREIT's Law, Accounting & Finance Conference® being held March 20 to 22, 2013. Join approximately 1,000 of your colleagues in Palm Springs, Calif., to receive the latest and most relevant information on legislation, guidelines, recommendations and opinions surrounding law, finance, tax and accounting for REITs. Attendees earn up to 19.5 CPE or 17.75 CLE credits to help meet their mandatory educational requirements. Go to www.reit.com/reitwise2013 for more information.

Track performance of U.S. and global real estate markets
Updated daily, the FTSE NAREIT U.S. Real Estate Index Returns and the FTSE EPRA/NAREIT Global Real Estate Index Returns provide index performance data, industry segment returns and comparisons against other major market benchmarks.

Learn more about NAREIT -> Join NAREIT | Policy & Politics | NAREIT Events | Publications

Policy Watch

Whistleblower program criticized by former Rep. Oxley
Former Rep. Michael Oxley, R-Ohio, voiced concerns about the Dodd-Frank Act's whistleblower provision, arguing that it encourages some to pursue a "lottery" type payout. Oxley said that a similar measure in the Sarbanes-Oxley Act of 2002, which he helped write, was better. The Wall Street Journal/Corruption Currents blog (1/30)

U.S. Capitol Police inspector general is named to SEC post
Carl Hoecker, formerly inspector general of the U.S. Capitol Police, has been named to that position at the Securities and Exchange Commission. Hoecker takes over for Jon Rymer, who became interim inspector general after H. David Kotz left last year. Rymer is the inspector general of the Federal Deposit Insurance Corp. The Hill/On the Money blog (1/29), Reuters (1/29)

SmartQuote

Any workout which does not involve a certain minimum of danger or responsibility does not improve the body -- it just wears it out."

--Norman Mailer,
American writer

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	Recent Real Estate Investment SmartBrief Issues: Wednesday, January 30, 2013 Tuesday, January 29, 2013 Monday, January 28, 2013 Friday, January 25, 2013 Thursday, January 24, 2013			Lead Editor: Liz DeHoff Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004