Archive for May, 2011
Consolidation Accelerates Ahead of Market Recovery
May 25th
Since the beginning of 2011, there has been a torrid level of M&A activity in the commercial real estate services industry. Recently announced deals include CBRE’s acquisition of the ING Real Estate fund management business; the sale of Newmark to financial derivatives house BGC; Colony Capital’s loan and exclusive look period with Grubb & Ellis; the recapitalization of DTZ by investment group SGP and the possible follow on merger with BNP Real Estate; and the hotly rumored takeover of King Sturge by JLL. And that is just on the services side. On the information side, Argus is selling to Altus and Costar is acquiring Loopnet.
NAI Global Expands into Mumbai, India with Sure Shot Suggestions
May 24th
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it is expanding its coverage into Mumbai, India with the signing of Sure Shot Suggestions ( India ) Pvt. Ltd. The firm will now operate as NAI Sure Shot Suggestions.
NAI Global Firms and Agents Earn 216 CoStar Power Broker Awards
May 17th
NAI Global, the premier network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced that 84 NAI member firms and 132 NAI agents were named 2010 Power Brokers by CoStar Group, a leading information provider for the commercial real estate industry. NAI received a total of 216 Power Broker Awards across 56 markets for its performance in 2010. Only one other brokerage firm received more awards.
Auction Data Suggests Sales are Increasing
May 16th
In June 2010, I analyzed CoStar Group (CoStar) data on industrial, office, retail and multi-family auction sales over a 17 month period. I recently reached out to our friends at CoStar to check out the recent 10 month period, July 2010 through April 2011. The research provided by CoStar reflects auction sales of only those properties listed with CoStar.
So, what has occurred since then? What sectors are hot? More >
Suits You Sir!
May 12th
In a week when Mervyn King, the Governor of the Bank of England forecasts slower UK growth and higher inflation, Office rents on one of London’s most famous streets, Savile Row are set to break through £100 per sq.ft once again.
US Hedge Fund York Capital Management are reported to have paid £97.50 per sq ft for offices at 23 Savile Row.
The wags delighting in pointing out that equates to almost twice the price per sq ft of a suit from a respectable tailor on the famous street. More >
