| The daily source on REITs and real estate investment |  |
- Fed takes charge of determining banks' capital needs
The Federal Reserve is taking the lead on banks' stress tests and in determining how much new capital each bank needs to weather the downturn, sources said. The move might help ease concerns that different agencies would provide different assessments. Fed examiners and counterparts from other regulatory agencies are deployed on the stress tests. "You could argue this is a systemic-risk issue, and it is good to have another regulator step in and assert a uniform set of standards," said Kevin Fitzsimmons, an analyst at Sandler O'Neill & Partners. "The Fed has its hands on every institution that is a holding company." Bloomberg
(3/31)     
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| | Trends in Real Estate Finance & Accounting: Lower your G&A by over 50%...
With market rents declining and vacancy increasing, reducing G&A is a top priority. Click here to download a case study and learn how Zenta can immediately lower your company's G&A by over 50%. Zenta offers expertise in Lease Administration, Property Accounting, Due Diligence, and much more. www.zenta.com | |
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- FASB proposes fair-value overhaul that might improve bank profits
The Financial Accounting Standards Board proposed a revamp of mark-to-market accounting rules that could boost banks' profits by more than 20%. The move comes four days after lawmakers threatened to take rule-making duties away from the board and its chairman, Robert Herz. A final vote on the proposals is set for Thursday. Bloomberg
(3/30)
- U.S., Europe agree regulatory reform needed, Geithner says
Leaders in both the U.S. and Europe want a far-reaching overhaul of regulations for the financial system, U.S. Treasury Secretary Timothy Geithner said. The "U.S. has a huge interest in acting quickly and comprehensively to use this opportunity to develop an international consensus on how to make the system more robust and stable," Geithner said ahead of the Group of 20 summit Thursday in London. Financial Times (free content)
(3/30)
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- Axis will refinance debt with bond sale
Axis Real Estate Investment Trust plans to refinance debt with a bond sale in the first half of 2009. "There's nothing worse than having the sale of the century if you haven't got any money to buy anything," said Stewart LaBrooy, CEO of Axis REIT Managers. Bloomberg
(3/31)
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- Manhattan office availability hits 12%, likely to go higher
With office space availability in Manhattan already at 12% in the first quarter, 1.1% higher than the previous quarter, the office market may be headed for its worst performance since the 1990s, according to a report by the FirstService Williams real estate services firm. The availability rate "could spike to 17% the first half of 2010," said the company's executive chairman, Robert Freedman. Reuters
(3/30)
- CEO: "Just amazing" how few deals are happening
 Real Capital Analytics founder and president Robert White discusses the distressed-assets market in an interview with GlobeSt.com. White said sellers will need to be truly distressed before transaction volume picks up. "The other factor would be when people feel that at least they can feel the bottom in sight. I'm not sure that we necessarily have reached the bottom and [are]on the way up, but there has to be no more danger that the economy could fall off the cliff," he said. GlobeSt.com
(3/30)
| NAREIT News | | |
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Structural issues facing REITs today
The Department of Real Estate at Baruch College, CUNY, in conjunction with NAREIT, is hosting a conference on April 1 called Structural Issues Facing REITs in Today's Markets. The purpose of the conference is to present the latest research on corporate governance, earnings management and asset diversification affecting REITs. The event, being held at Baruch's Newman Conference Center, is free, but registration is required and attendance is limited.
| From the Blogosphere | | |
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- Potential opportunities abound in REITs
Writing in a Seeking Alpha commentary, Avi Morris sees opportunities in the chaos surrounding REITs. The sector still holds plenty of risk, but Morris says apartment REITs could benefit from new Fannie Mae and Freddie Mac programs. "Stronger REITs will be able to purchase marked down properties at attractive prices," he writes. Seeking Alpha
(3/31)
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