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A wave of mortgage REIT IPOs have been announced this year. Gabriel Poggi, vice president of real estate equity research with FBR Capital Markets and Company, covers agency mortgage, structured finance mortgage and triple-net real estate investment trusts.
The first six months of 2009 were eventful ones for the commercial real estate industry. REITs issued $16 billion in equity, and the market began to show signs of rebounding. Analyst Michael Knott of Green Street Advisors recently spoke with REIT.com about the outlook for the second half of the year.
Commercial real estate prices continued to fall in May, down 7.6 percent for the month, according to the latest data from the Moody's/REAL Commercial Property Price Indices (CPPI).
Pharmaceutical company ImClone Systems has selected one of Alexandria Real Estate Equities' facilities in New York as its new headquarters for research and development.
The downturn in commercial real estate fundamentals accelerated in the first quarter of 2009, and the trend shows no signs of abating, according to a market analysis conducted by Moody's Investors Service.
The latest round of applications for financing under the government's Term Asset-Backed Securities Loan Facility (TALF) produced the first investor applications for loans to purchase legacy commercial mortgage-backed securities (CMBS). The loan applications totaled $668.94 million.
In the fall of 2008, RiskMetrics (RMG) updated its corporate governance guidelines for 2009. These guidelines are critical for public real estate companies to understand as they suggest best practices on a variety issues that companies should address going forward.