Friday, September 16, 2011

Morning Real Estate Review


Court Approves Sale of The Georgian in Silver Spring (CityBiz) "Market pros" expect the asset to trade at a 7% cap - for perhaps more than $190 million, or $215,000/unit.

Lehman Still Looms Large in Commercial Real Estate (Wall Street Journal) With the third anniversary of its bankruptcy filing [yesterday], it still plays a big role in the industry as a major owner and seller.

IMT Capital Closes Multi-Family Fund with $350M in Commitments (CP Executive) “IMT continues to believe that this phase of the economic cycle favors rental product over for-sale product, and positive apartment fundamentals should support the firm’s investment strategies for the foreseeable future,” said Michael H. Browne, co-founder and managing director of IMT Capital.

Report: Housing Inventory Hits 2011 Low (Wall Street Journal) Housing inventory dropped for the fourth straight month, falling in August to the lowest level of the year.

Skyland on the skids, still (Washington CityPaper) Development of the city-controlled site has been "imminent" for years, but nothing happens. Now the reasons for building it seem less and less clear.

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