Atlantic City officials, the State of New Jersey and its residents wonder about the fate of Atlantic City and the rest of its gambling palaces as the Revel Hotel and Casino closed its doors on Monday after the Showboat Casino closed on Sunday. Trump Plaza, which is connected to the famed Boardwalk … [Read more...] about 8.27.14: Atlantic City, N.J. Casinos Closing: What’s the Future?
Archives for August 2014
Super-senior AAA-rated CMBS spreads retreated from recent highs of 90 basis points (bp) seen when a $1.2-billion offering by Cantor Commercial Real Estate, Deutsche Bank, Ladder Capital and Nataxis priced on August 13. Super-senior AAA-rated CMBS are currently trading in the 85 bp area. That said, … [Read more...] about 8.22.14: Big September Pipeline to Test CMBS Spreads
The CMBS delinquency rate for U.S. commercial real estate loans in CMBS declined a fraction in July, to 6.04%, barely extending a 14-month month-over-month decline, according to Trepp. Loan resolutions totaled just over $600 million, one of the lowest monthly totals in recent years. Removing these … [Read more...] about 8.15.14: CMBS Delinquency Posts Small Decline in July
Looking to become a dominant force within the lodging industry in both valuations and strategic advisory services, CBRE Group, Inc. recently acquired PKF Consulting USA, LLC (PKFC), a hotel advisory, consulting and research firm. Headquartered in San Francisco, California, PKFC was formed in 1999 to … [Read more...] about 8.12.14: CBRE Acquires PKF Consulting USA
After super-senior AAA-rated CMBS spreads declined to a post-crash low of 71 basis points (bp) in mid-July, spreads surged in the first week of August. On August 6, JP Morgan, Barclays, Starwood and GE Capital priced the super-senior AAA-rated CMBS of their $1.1-billion CMBS offering at 85 bp, a … [Read more...] about 8.8.14: CMBS Rally Stops Dead in Its Tracks; Spreads Blow Out
HVS, a market leader in hospitality consulting and valuation, recently reported on the Corpus Christi, Texas economic climate. The report highlighted the following: Corpus Christi's economy continues to sparkle, with ongoing developments in the tourism, energy, and shipping industries, as well as … [Read more...] about 8.5.14: Corpus Christi Economy Continues to Sparkle