Gregory Orr

Housing Market Tracker - Commercial Real Estate Outlook

Interesting that the cap rate on the citicorp plaza deal was 5.8%, with 2007 inflation runnung at 4.1%. Think Apollo was lucky to get out of the property at that level. Also haven't heard alot about Harry Macklowe's renegotiated loan terms on the equity office/Blackstone purchases. Wonder if he's gonna be forced to sell off any manhattan properties any time soon, and what the cap rate will be on such a sale.