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November 27, 2012

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Top News

Lehman estate sells Archstone for $6.5B
Lehman Brothers Holdings' estate says it will sell the mammoth apartment-complex company Archstone to Equity Residential and AvalonBay Communities in a cash-and-stock deal worth about $6.5 billion. The sale ends Lehman's plan to take Archstone public on the New York Stock Exchange. The New York Times (tiered subscription model)/DealBook blog (11/26)

Retail Properties Available for Auction Online
Properties include Shopping Centers, Restaurants, Supermarkets, Showrooms, Malls, and Units in metro plazas. View all retail properties available for auction. Auction.com The Nation's Leading Online Real Estate Marketplace

Featured Property: Retail center in Lakewood, CO. Starting Bid: $750,000. 60% Occupancy. 12K + SF, view more property details here.

Capital Markets

Deutsche Bank credits CMBS 3.0 for growth in 2013
Non-agency commercial mortgage-backed securities are estimated to increase 50% in 2013, to reach $60 billion, according to Deutsche Bank. It points to the improved version of the CMBS conduit as a reason. "In our view, it is nearly impossible to over-estimate just how important CMBS 3.0 is to the health of the commercial real estate market," Deutsche Bank said. World Property Channel (11/26)

Other News

Hong Kong considers changes in how it sets rates
Reuters (11/26)

Investment News

Petroliam Nasional eyes REIT structure for Petronas Twin Towers
Petroliam Nasional Bhd, Malaysia's state oil and gas company, plans to have a REIT formed, into which it will combine its stakes in the 88-story Petronas Twin Towers, according to sources. KLCC Property Holdings will form the REIT and buy the remaining stake in the towers that it doesn't already own. Business Times (Malaysia) (11/27)

Real Estate Marketplace

Considine: Multifamily owners have to keep eye on quality
Now that the residential housing market is showing signs of recovery, multifamily property owners will have to be extra vigilant about quality, Terry Considine, chairman and CEO of multifamily REIT Aimco, said at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. "I think the economy will be choppy as people work through the government funding problems. There will be the emergence of new supply that will affect pricing at the high end of the price lines," he said. REIT.com (11/26)

Carter Validus acquires data center for $65M
Carter Validus Mission Critical REIT has acquired a data center in Philadelphia for $65 million. The center is called 6 Sigma Center, and it was fully leased at the time of sale. CoStar Group (11/26)

Other News

Harvey: Best office plays have coastal market exposure
Forbes (11/26)

NAREIT News

REIT magazine lands new online home
REIT: Real Estate Investment Today, the bimonthly magazine published by NAREIT, has a new online home at RealEstateInvestmentToday.com. The new site features all the content of the award-winning print magazine and adds exclusive video and news content created just for REIT magazine readers. Now available on the site is the November/December issue of REIT magazine, which features articles on how various segments of the REIT industry are positioned heading into 2013.

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

Barnier seeks coordinated approach with U.S. on Basel III
The EU wants clarity from the U.S. on implementation of Basel III rules amid calls from European banks for a one-year postponement. EU Internal Market Commissioner Michel Barnier said through a spokesman that he "wants to work towards a coordinated approach with the U.S.," after U.S. regulators said they won't meet a January deadline for implementation. The Telegraph (London) (tiered subscription model) (11/27), The Wall Street Journal/Dow Jones Newswires (11/26)

Major issues will remain when Schapiro departs
Securities and Exchange Commission Chairman Mary Schapiro will leave some major issues unresolved when she steps down next month, including high-frequency trading, lingering Dodd-Frank rules and regulation of the money-fund industry. Schapiro also championed a fiduciary requirement for securities brokers, a proposal that is expected to stall with her departure. Reuters (11/26), Financial Times (tiered subscription model) (11/26), The Wall Street Journal/Deal Journal blog (11/26)

SmartQuote

Every path hath a puddle."

--George Herbert,
Welsh-British poet, orator and priest

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	Recent Real Estate Investment SmartBrief Issues: Monday, November 26, 2012 Wednesday, November 21, 2012 Tuesday, November 20, 2012 Monday, November 19, 2012 Friday, November 16, 2012			Lead Editor: Liz DeHoff Sales Account Director: Jasmine Rogers Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004